Clubhouse: The Turbo-charged Incubator for your Enterprise
Compared to Twitter, Facebook, and Instagram, Reddit and Twitch Clubhouse is still a relatively small networking club. In fact, many people are not familiar with this audio, social media platform because of its exclusivity. The club started as a platform for a few venture capitalists and Silicon Valley tech workers to connect during the covid-19 pandemic. The app’s growing popularity has now attracted the interest of business magnates like Elon Musk and Mark Zuckerberg. Today, this new social media platform hosts over a million users with an exploding demand from tech and pop culture pace setters globally. If you haven’t been invited to this thought-provoking exclusive media platform, then buckle up because the wait is going to feel like forever! However, if you love making money and new exciting inventions, the wait can never be too long with Clubhouse. It is worth it!
So, what is Clubhouse?
The clubhouse is a drop-in audio networking app that allows users to have audio discussions on various topics in chatrooms. The chatrooms have two groups of users: the listeners and those talking. The chat rooms are started by users and closed down by the host when discussions end. However, unlike other networking platform such as Twitter and Facebook or remote work software like Zoom, Clubhouse is an only-audio platform. It is also hierarchical and has a moderator who oversees discussions. The moderator has the ability to give users a chance to chime in or remove unruly participants.
Other factors that set clubhouse apart from other networking media platforms are:
- It has a pricing model that
- is quote-based
- has an annual subscription
Has unique features like:
- Story Types
- Attachments
- Labels
- Owners
- Estimates
- Visual progress tracing
- Deadlines
- Milestones
- Customisable workflows
When the app was unveiled last spring, the podcasting app was more of a broadcast, and so the app owners Rohan Set and Paul Davison added a feature in the prototype that allowed users to join in conversations. Most Clubhouse users like the app because it neither requires the use of a camera nor has recording features. Hence, it needs low editing commitment compared to other apps and is quite spontaneous.
Why the hype?
The clubhouse has a restrictive invite-only joining process. One can only join through an invite from a club member. In the beginning, target users included a group of carefully selected investors, entrepreneurs, and famous celebs in the entertainment industry. This curated group could only bring in a limited number of users on board. The availability of invites is still very low, thereby making them one of the most sought-after investments in the market today. Currently, an invite is valued at $89 Therefore, the clubhouse is a virtual gold mine where early users have a priceless opportunity to amass audiences deep, engaging conversations through which they pitch their ideas, products, and services or freely share knowledge to help listeners achieve their goals.
How many users?
Clubhouse was launched as a beta in April 2020. By the beginning of December, it had only 3500 users. In January the appraised Series B funding. Its traction suddenly skyrocketed due to good word-of-mouth reviews from iconic people such as Jared Leto, Oprah, Drake, and Ashton Kutcher. By the end of January, there were over six hundred thousand users on the platform after Tesla’s CEO, Elon Musk, tweeted that he would be on Clubhouse. This exponential growth in users coincidentally strapped a jetpack on Clubhouse media Group shares, an entity that is not related to Clubhouse.
Days after Elon Musk’s announcement, Facebook CEO Mark Zuckerberg participated in “The Good Time Show,” a chatroom on the platform, where he emphasised the essence of virtual reality in modern times. Recently, a group of 5000 users- the maximum number of users in a clubhouse chatroom- attended a session with the app’s founders. The number of users on Clubhouse has since exponentiated and is projected to keep growing by the thousands each day. The app’s popularity is also sprawling from the tech sectors to other segments because it is a source for new insights and controversial conversations.
What Opportunities Are there for Brands and Businesses?
The hustle culture on other social networking platforms is real on Clubhouse. Chat rooms are used for weight training, networking, bitcoin, and pitching for investment. Despite this, Clubhouse creates an environment where chats benefit everyone from business start-ups to renowned millionaires like Kevin Harrington, Cardone, and Gibson Tyrese. For example, Cardone showed up in various chatrooms that were holding business and real estate discussions upon joining. His interactions had enabled him to connect with many investors in real estate like Matt Andrews within a short time. Cardone proceeded to co-host more chatrooms with Andrews, including the Sn. 2 premieres of Undercover Billionaire, where more than 1000 users participated in the live watch party.
Some of Cardone’s ideas on entrepreneurship did not seem viable until Trey Taylor, the founder of Trinity Blue, listened to Cardone speak in one of the chat rooms and realised that his company could sell the data collected from their core business to particular industries, thereby changing the dynamic of the deal with that entrepreneur. Shark Tank’s co-host Kevin Harrington has also been actively hosting chatrooms where investors listened to entrepreneurs pitching their ideas for several hours. At the time of closure, many entrepreneurs garnered valuable business insights while others received funding from interested investors.
Clubhouse is a powerful platform for business owners who want to build their brands. However, the attention the club is gaining has overwhelmed the small start-up, which is now struggling to control the surging traffic of new users. Moreover, it faces threats from existing social networking platforms like Twitter, Facebook and Spotify, which are working to develop similar products. In a recent chatroom on Clubhouse, Tyrese reminded the audience that “It is not too lonely at the top if you help others get there.” Clubhouse, therefore, presents business owners and entrepreneurs with a chance to share knowledge and build on each other’s dreams freely.
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