It’s ON! There are tons of articles, blogs and twitterers screaming how there’s going to be a “showdown” between LinkedIn and The Wall Street Journal as the latter creates the ultimate weapon in social media. That’s right, they’ve made a “LinkedIn Killer”
The widespread reports started with a TechCrunch article reporting that a concept was on the table. From there the report grew legs.
Will it work? Nope. It’s all hype. To be fair, LinkedIn isn’t positioned at the top of the social networking/media category, but I don’t think it expects to given its niche. When it comes to Business Social Networking, however, it dominates. In fact, there’s no other service. Is it possible it could get ousted? Of course. Is it likely? Not unless those in charge of the service are asleep.
MarketingPilgrim makes a few good points. NewsCorp hasn’t done very well with MySpace, which owned Social Networking when it was purchased. If they can’t hold onto a brand category throne, what makes them think they can dethrone LinkedIn from the Business Social Networking category? Perhaps its because the WSJ is about business? Likely, but that’s not sound brand thinking. The MarketingPilgrim article continues that The Journal hasn’t done a very good job of getting its online readership to use its existing profile/connections portal.
That’s Killer…
Internally they are already calling it the “LinkedIn Killer” [TC]. Lets review the list of other “Killers” on the market: The Blackberry Storm and Palm Pre were iPhone killers and the Zune was an iPod killer. Lets be straight, if they are in that mindset, they better give up right now. In fact, the brand cemetery is littered with imitation products and there are quite a few #2 products that try try try. Who leads Red Bull (energy drinks), Gatoraid (sports drinks), Coke (cola), and McDonalds (fast food)? No one. They were the first and they’ll stay #1 mainly because of that.
You might say that the industry is in flux, but Facebook ousted MySpace by being different, not the same. MySpace ousted Friendster by being different, not the same. WSJ Connect is undoubtedly trying to be the same, as “LinkedIn Killer” indicates.
I dare you to come up with one “Killer” that was branded as such and succeeded. Even if you do know one, how long did it take you to think of it and are there any others?
What the Wall Street Journal is going to do is weaken their core brand and divert resources that should be spent researching a better way to keep ahead of the Business Daily News category that they are in charge of. They’d be better off partnering up with or purchasing LinkedIn.
Of course, this is all speculation. Nothing’s been confirmed.
More Reading:
http://www.bizjournals.com/dayton/stories/2009/07/27/daily55.html
http://inventorspot.com/articles/wall_street_journal_gunning_linkedin_30930
http://www.marketingpilgrim.com/2009/07/will-the-wall-street-journal-take-a-real-shot-at-social-media.html
Also:
22 Immutable Laws of Branding (Reis & Reis) [excerpt: http://synergynet.com/artman/publish/marketing_resources/branding_laws.shtml]
Chasing Cool (Kerner & Pressman) [http://www.chasingcoolbook.com/]
Brand Failures (Haig) [Google Books]
And just pay attention. It’ll become common sense.