The tipping point in the Finnish social media start-up companies
Nesterenko, Yuliya (2015)
Nesterenko, Yuliya
Tampereen ammattikorkeakoulu
2015
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2015052911228
https://urn.fi/URN:NBN:fi:amk-2015052911228
Tiivistelmä
This bachelor’s thesis was commissioned by TeamUp Oy with the purpose to find out optimal and most efficient ways for reaching the tipping point and entering the global market for Finnish social media start-up companies. The problems which the local new enterprises face during their first years of operations were identified with the help of a SWOT analysis of TeamUp Oy and the overall start-up ecosystem in Finland. The qualitative and constructive research was conducted by interviewing experts in the field of social media and entrepreneurship, and by collecting secondary data obtained in analysis of the world’s most successful social networking sites.
Relying on theoretical background on the tipping point, diffusion of innovation, the social media ecosystem, lean process improvement and globalization, the current thesis reviews the preceding events and approved tactics, and offers solutions for making improvements which would lead companies to reaching a critical mass of users and successfully spreading a new innovation.
Most recommendations offered in the current thesis have to do with the Lean Start-up method, at the core of which lie the design of Minimum-Viable Product that is implied to be tested and reviewed by potential or existing customers. Due to the nature of the social media industry, collaboration with Influencers, Early Adopters and celebrities is essential in order to build momentum. The research revealed that Finnish social media platforms could benefit from constant participation in international activities, seeking for foreign investments and partnerships, and testing online services abroad at the early phase of the company’s operations.
The implementation of external and internal strategies will have a positive effect on the user traction, the network expansion and the efficiency of the short- and long-term strategic plans. The practical suggestions proposed to TeamUp Oy have already been partly implemented which enhanced the company’s status bringing it closer to the tipping point.
Relying on theoretical background on the tipping point, diffusion of innovation, the social media ecosystem, lean process improvement and globalization, the current thesis reviews the preceding events and approved tactics, and offers solutions for making improvements which would lead companies to reaching a critical mass of users and successfully spreading a new innovation.
Most recommendations offered in the current thesis have to do with the Lean Start-up method, at the core of which lie the design of Minimum-Viable Product that is implied to be tested and reviewed by potential or existing customers. Due to the nature of the social media industry, collaboration with Influencers, Early Adopters and celebrities is essential in order to build momentum. The research revealed that Finnish social media platforms could benefit from constant participation in international activities, seeking for foreign investments and partnerships, and testing online services abroad at the early phase of the company’s operations.
The implementation of external and internal strategies will have a positive effect on the user traction, the network expansion and the efficiency of the short- and long-term strategic plans. The practical suggestions proposed to TeamUp Oy have already been partly implemented which enhanced the company’s status bringing it closer to the tipping point.