After some more reading and thought, I am believing it is possible to carve out a little niche in this market, but it will likely have to be executed soon. The geotaggable picture search engine idea is officially being upgraded to “Project” status. I created a new Project Category called picFLiTE for us to start saving posts in (I also moved all old related posts into this category folder).
So after our conversation tonight and some more reading, I have come up with a few essential features that picFLiTE will need impltented to create dominance and rapid adoption in the marketplace. The key features will be the following:
- Rapid Development:
- Possible partnership with Cuil, Google, Yahoo, etc to license search technology
- We would be busy creating relationships with parnering sites while also creating a standard for searching geotags and timestamps
- Easy integration with existing picture sharing sites: MySpace, Facebook, Picasa, Flickr, etc.
- Develop a standard way to record locational information and allow people without GPS to manually assign one to participate (could be as simple as clicking on a location on a map)
- Ease of use for the average user:
- Apps created for participating platform to draw social networking traffic
- Standalone website that is free to search
- No “sign-up-for-a-new-account-before-using” type interface
- Not ruling out an optional advanced feature offering for members though
- Viral Marketing Element: must possess a feature that stimulates sharing
- We could create a competition that shows the most popular hangouts in a college campus, in a city, etc. by number of pictures shared in each location
- Same concept could be applied to cities in the world, etc.
- Create business participation by including FREE business logos and small ad for upcoming events by featured photos if the business becomes a contributing member
- Example: The nightclub KIN in SD is advertised free on our site if they continually add photos to our search platform and invite others to participate
- Create some type of user rewards (can be fake or real) that participants get to accumulate as they geotag photos and use our site
- Monetization:
- Would probably have to utilize some sort of advertising-based revenue model
- Possible revenue sharing with parnering sites…
- Introduce a premuim ad placement for participating local businesses
- The goal here would be more to generate a large user base and sell the business very soon, so short term revenue generation wouldn’t be as critical for us
- The goal would be to develop the company so that it could interface very well as a “value-added” acquisition for a larger company such as Google, Yahoo, Facebook, etc.
- Would probably have to utilize some sort of advertising-based revenue model
These are ideas to stimulate more thought. We’ll chat more tomorrow.