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Are Exclusive Apps More Successful: Clubhouse, Truth Social, and Revel
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March 22, 2022
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March 22, 2022
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1:44Now PlayingDoes exclusivity drive the success of apps? Check out the video to learn more.
Welcome back to Bold TV with Sofia Valdes. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Why are some apps limiting who can be on their platform? Does exclusivity drive the success of these apps?
A year after Clubhouse launched, the invite-only social audio app gained over six million users and the company was valued at $4 billion. Users were attracted to the idea of being able to hear and engage with their favorite celebrities in unfiltered conversations. However, at the end of last year, Clubhouse’s popularity fell as quickly as it rose to the top.
According to The Wrap, the slow introduction of key features, poor scalability, and the lack of monetization options made it hard for users to stay on their platform. Making their app exclusive, brought them a lot of users but ultimately prevented them from being able to grow.
Exclusivity can also come from too high of a demand for your app. Former President Donald Trump's app. Truth Social debuted as the top social networking app in Apple's app store despite a rocky launch. The traffic was too much for the app to handle so many new users were put on a waitlist.
The same thing happens to the ride-sharing app, Revel. Revel is an all-electric, all Tesla rideshare service. They don't have enough electric vehicles for everyone on the app. We downloaded the app and was put on a waitlist for nearly a month before I was able to request a ride.
When exclusivity comes from demand customers may lose interest while they are stuck on a waitlist. At the end of the day, having some exclusive features on your app may draw interest but having too much exclusivity prevents growth?
What do you think? Do you have any of these apps? Would you wait for a service you're excited about? Let us know in the comments below.
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