Archive for the ‘Social Marketing’ Category

Has the Meesho incident highlighted the flip side of influencer marketing?s – Business Standard

Social media platforms drastically altered the way we socialise. But in recent years their role has expanded beyond that of connecting us with our friends.

Consumers are now exploiting these platforms for other use cases - like keeping up with news on Twitter, getting product reviews on YouTube or gaining an inside view of celebrity and influencer lives on Instagram.

In fact, a study by US influencer marketing intelligence platform Sideqik revealed that 50% of millennials feel that they know the influencers they follow on social media better than their friends. At least 78% of consumers said they discovered a new brandor product from an influencer.

And, according to an October 2020 survey by Rakuten Insight, about 72% of the respondents from the age group of 25 to 34 years in India admitted to following at least one influencer on social media.

While there is no rigid classification, the category in which an influencer falls in is typically defined by the number of followers.

Nano influencers are those with a few thousand to as much as 10,000 followers while micro influencers have up to 100,000 followers. For macro, this number goes to a million. A mega influencer would be someone with a million or more followers. They may not necessarily be celebrities.

Brands leverage influencers to not only promote their products, but also to get their messaging across to consumers in an engaging visual format.

Influencers have a big impact on consumers, especially millennials. And influencer marketing has democratised digital marketing. It is not just TV ads anymore. The time spent on social media platforms is going up, and so is the clout of influencers.

They command a higher engagement rate than celebrities, and enjoy peoples trust too. And brands know it very well.

But, off late, a flip side of influencers marketing also seems to be emerging. Allegations are surfacing that brands are using influencers to not just to mould their better image, but to pull down their competitor too. As with any industry, there are a few bad apples here too. For such agencies, it is just another service they offer to brands for money.

SoftBank and Meta-backed e-commerce startup Meesho recently got a taste of it. It took note of this after a startup executive on Twitter pointed out earlier this month that several influencers -- in a seemingly coordinated manner -- tweeted negatively about the company while tagging its investors. These posts accompanied a link to a news article about Meeshos cost-cutting strategies. Meesho claimed that some influencers acknowledged that the tweets were paid promotions while others deleted their posts.

It has now asked the marketing agencys CEO to disclose on whose behest it was working and issue an unconditional apology.

Two more startup executives revealed they were approached earlier this year to make negative comments about Meesho in lieu for money.

A journalist shared her observation that articles on Meesho often receive coordinated abuse from verified accounts on Twitter.

Meesho Founder and CEO Vidit Aatrey claimed that paying influencers to peddle rumours against the startup has been happening for the last many months.

The agency which engaged the influencers for this alleged smear campaign and to whose CEO Meesho has sent a notice is reportedly based in Ahmedabad. It is one among the scores of such influencer marketing agencies that have cropped up across the country as brands look to reach 400 million social media audiences.

Balasubramanian, co-founder of Bengaluru-based influencer marketing firm Greenroom, says that smaller influencers sometimes get paid through free products in return for promotional posts talking up a product or sharing their opinions after using a product.

She says nano influencers can get paid as little as Rs 500 for a post that can go up to Rs 5,000 whereas a micro influencer can make as much as Rs 15,000 per post.

Lakshmi Balasubramanian of Greenroom says influencers are people like us who record their everyday activities online. Their reliability quotient is much higher than a celebrity. With influencers, smear campaigns just moved to a different medium. as such, until rules are put down, such campaigns using influencers will also continue to happen. Agencies are doing it simply for the moneym she says. We get influencers signing up with us to agree that they will not abuse a brand, she says.

Influencers who tweeted against Meesho for a price may have fallen afoul of the guidelines for influencer advertising in digital media issued by the Advertising Standards Council of India, a voluntary self-regulatory organisation of the ad industry.

Greenrooms Lakshmi Balasubramanian says that in such cases brands and agencies can be pulled up since policing hundreds of influencers involved in a negative campaign can be impractical.

A report by GroupM India pegged the size of Indias influencer marketing industry at Rs 900 crore in 2021, growing at an average of 25% annually till 2025. Around 40% of this consists of nano and micro influencers.

While the exact number of total influencers in India is hard to come by, it could very well run into tens of thousands if not lakhs, with more being created every day.

According to The Advertising Standards Council of India or ASCIs guidelines, influencers are required to disclose any material connection between them and the advertiser by using any of the permitted disclosure labels.

Material connection isnt limited to monetary compensation. Disclosure is required if there is anything of value given to mention or talk about the advertisers product or service. The anti-Meesho tweets did not carry any such labels.

Influencers are also advised to review and satisfy themselves that the advertiser is in a position to substantiate the claims made in the advertisement.

ASCI CEO Manisha Kapoor told The Morning Show that the regulator has not been approached by Meesho so far but if they do, ASCI would examine the complaint to the extent of its remit.

Speaking to Business Standard, Manisha Kapoor, CEO, Advertising Standards Council of India, says this is not the first time influencers have been paid to talk negatively about a competitors product. This is not just unethical but also misleading to consumers. The anti-Meesho tweets potentially violates both ASCI guidelines and Consumer Protection Act, but the final responsibility is of the advertiser who commissioned a campaign of this nature. Influencers are also responsible

Manisha Kapoor also says that even one or two of these agencies engaging in malpractices give the entire industry a bad name. She suggests that the influencer industry, including players in the ecosystem, should step up and look at implementing a code of conduct for itself, to keep the industry clean.

The onus to nip this malpractice in the bud also lies on influencers. It will not just dent their image, but that of the entire influencer community as a whole. The trust they enjoy will erode, and brands may also stop coming to them for promotions. ASCI too should act tough against such incidents to instil confidence among social media users.

See the article here:
Has the Meesho incident highlighted the flip side of influencer marketing?s - Business Standard

#worktok: The surge of venting about the worst of work – BBC

Many users on #worktok a tag that has more than a half-billion views found themselves ending up on TikTok out of lockdown malaise, when their companies implemented remote-work policies more than two years ago.

"I was bored on my couch, to be honest with you," says account-manger Coleman.

He joined TikTok after lockdowns began in early 2020, when his company began remote work. Hed found himself engaging in new rituals like "taking a midday shower, taking a midday nap or doing laundry" during the workday and when he started scrolling through TikTok, to his surprise, he found he "wasn't the only person" sneaking in dog walks. Many of his videos focus on those work-from-home behaviours that nearly all remote workers now partake in, like puttering around the house doing chores in between tasks, or "wiggling your mouse to stay online" to "show that your status is green".

Recruiter Jones, who also joined TikTok during the pandemic because she was missing that camaraderie you get from sitting around the office and sharing stories, says the app provided her a way to join the conversation around the ways work was changing.

"I didn't start this channel on Instagram, because then it's really just my friends and my family that follow me," says Jones. "On TikTok, the way the algorithm works, you're pushed out to a lot of different kind of people, and that's really fun."

Relatable and real

For solicitor Nelson-Case, #worktok shows how "so many of us go through the same experiences, regardless of what our jobs are".

"The experiences and nuances of corporate life and working in an office are relatable and almost universal," he says, adding that his intent isn't to complain about his job or colleagues, whom he calls "supportive and great". For him, #worktok is more about "the nuances and the challenges of the corporate environment itself." He thinks by watching these videos, workers especially during the pandemic "feel less alone".

Continued here:
#worktok: The surge of venting about the worst of work - BBC

How the bear market could accelerate the Web2 to Web3 migration – Forkast News

Since 2021, the stars of Chinas internet economy including Alibaba, Tencent and Meituan all entered a stagnant stage after a decade of phenomenal growth. In the decade before, we grew used to these giants expanding into new industries and making waves with their capital and technology advantages, but these days we hear more about them laying off employees and cutting non-profitable business units.

Meanwhile, the term Web 3.0 has been gaining traction and has already become the new catchphrase for the crypto movement. Web3 the next generation of the internet disrupting the over-centralized Web 2.0 platforms is a powerful narrative that is capturing the attention of Chinese internet entrepreneurs who are looking for the next big thing.

A16z, one of the most influential crypto VC funds, defines Web2 as social platforms like Facebook, Twitter and WeChat where we can only read and write, while Web3 is the blockchain-enabled internet that allows us read, write and own meaning users can own the digital assets they create as well as part of the network infrastructure.

There are now more and more impactful investors and entrepreneurs from Chinas Web2 industry venturing into Web3. They are veterans from the last wave of internet innovation who built fintech, e-commerce or social media applications for tens of millions of users.

Ironically, some new migrants who just moved out of the stymied Web2 businesses in 2021, were again caught in cryptos bear market which already has erased about a trillion dollars in market cap since the beginning of 2022. Will the bear market also end prematurely the migration from Web2 to Web3?

Having talked to many Chinese entrepreneurs in the past several months, my observation is that the Web3 movement is now forced into a sobering reset moment which actually is a good time for Web2 entrepreneurs to enter the playing field and leverage their know-how to help accelerate Web3 applications toward mass adoption and real-world economic activities.

From falling market cap to sizable layoffs, the optimism once surrounding Chinas internet economy has been visibly diminishing over the past year. Chinese internet entrepreneurs have so much anxiety about the fluctuating government regulations and policies that the code is law philosophy held by the blockchain community seems particularly attractive to them.

As they feel that the social contract between government authorities and market players is often getting rewritten, the smart contracts on the blockchain seem transparent and more secure to them.

Chinese internet companies have to stay away from cryptocurrencies and decentralized finance (DeFi), which the government has outlawed. But they are actively exploring non-fungible tokens (NFTs), which look like a cultural and entertainment business that attracts less regulatory attention.

Bilibili, the video-driven social network, just launched its NFT series Cheers UP in late April and even added an NFT tab to its app (international version), which connects to users Metamask wallets. Even the food delivery platform ele.me has launched an NFT series focusing on Chinese heritage cuisine, with Cod Meat Ball as its first NFT.

Tencent has invested in the NFT platform Immutable X and TikTok collaborated with Immutable X to launch a NFT collection Tiktok Top Moments.

The investment funds that backed the winners of Chinas internet economy are now placing big bets on Web3. Neil Shen, known for being the founder of C-Trip and early investor of Meituan and Pinduoduo, led Sequoia China to invest in blockchain gaming behemoth Animoca Brands.

These are just some examples of publicized investments. There are many more individuals and family offices quietly backing Web3 startups behind the scenes.

The narrative of Web3 indicates that it will bring an internet that serves the interests of users and builders better than Web2. VC investor and thought leader, Chris Dixon, wrote in a widely quoted Twitter thread: Web 3 is the Internet owned by builders and users, orchestrated with tokens. But the recent market turbulence exposed the gap between the narrative and the current reality, which made many Web2 entrepreneurs skeptical.

The Chinese Web2 entrepreneurs are well aware of the problems of over-centralization. The whole internet ecosystem in China is dominated by super apps such as Alipay, WeChat and Meituan, which mediate countless online activities and possess most of the users data. Meanwhile, user acquisition is one of the key business challenges for Chinese internet companies, which routinely burn billions of capital to acquire and retain users in the forms of advertising, giveaways and social marketing.

The concentration of data in the super apps and the skyrocketing cost of user acquisition have made it very difficult for new startups to emerge in the past several years and has also made the super apps into targets of anti-monopoly regulation. That is why many Web2 entrepreneurs are inspired by the idea of building upon a decentralized network and turning users into stakeholders.

However, the majority of the existing Web3 applications have not yet lived up to the vision of benefiting users at scale. Terraform Labs Luna, once one of the most influential crypto projects in Asia and claimed to create decentralized money for a decentralized economy, saw the value of its algorithm-driven stablecoin UST recently drop to zero over just three days. For many in the crypto community who criticize the Fed for printing U.S. dollars out of thin air, it is now hard to argue decentralized money is a better option.

Even blockchain games, which many hope would onboard consumers en masse into Web3, have not proven that people like them for reasons other than token incentives. While we heard quite a lot of news about virtual lands in the metaverse games Sandbox and Decentraland selling for millions of dollars, the daily active users of these two games are only around 1,000 as of this April an embarrassingly low number compared to mainstream Web2 games.

When Web2 entrepreneurs, who are experts in identifying product-market fit, look at the current Web3 applications, they could easily conclude that the current killer application of Web3 is simply speculation.

The recent collapse of many crypto assets exposed the risk of token-facilitated hyper-financialization. It also makes clear the necessity for Web3 applications to find use cases and solve problems in the real-world economy, which happens to be what Web2 entrepreneurs built their success on.

When the tokens were enjoying the incredible bull run between 2020 and 2021, we often saw Web3 advocates assuming with confidence that Web2 applications were just dinosaurs with no future. But thanks to this bear market, many of them should now recognize with humility that Web2 applications like Paypal, YouTube and Tiktok are still better at being widely used in current everyday life.

Despite some skepticism, for Web2 entrepreneurs, there is still no other vision as inspiring as this decentralized internet that aligns the interests of builders and users. For Chinese entrepreneurs in particular, the permissionless and global nature of Web3 also makes it a rare oasis free from the disturbance of geopolitics.

Chinese Web2 entrepreneurs have a good chance to play an important role in the next wave of Web3 innovation. The mass adoption of Web3 will not bypass the booming Asia market. Chinese entrepreneurs have the most experience in Asia when it comes to building internet products at scale, with killer applications that can compete with global giants. Some of the most promising use cases of crypto, such as digital wallets and virtual entertainment, are familiar territories for them.

The Web2 to Web3 migration also presents an important opportunity to the crypto-native teams. Web2 entrepreneurs and investors need partners to master the blockchain infrastructure, the complex tokenomics and the dynamic communities that operate under a DAO (decentralized autonomous organization).

Since 2021, we have already seen Chinas crypto community migrating to Southeast Asia because of the crypto ban, and talents from traditional finance migrating to crypto finance in search of growth. The Web2 to Web3 migration is another important trend. The current bear market only makes it even more impactful, and it is bringing the capital and expertise on mass adoption that Asias Web3 movement needs for the next breakthrough.

See more here:
How the bear market could accelerate the Web2 to Web3 migration - Forkast News

Here’s Why You Should Hold on to Crocs (CROX) Stock Now – Zacks Investment Research

Crocs, Inc. (CROX Quick QuoteCROX - Free Report) has been gaining from sturdy consumer demand, brand strength and solid online show. This led to an impressive first-quarter 2022 performance.

The companys top and bottom lines surpassed the Zacks Consensus Estimate for the eighth straight quarter in the first quarter. Also, sales and earnings improved year over year. The top line witnessed growth across all regions and channels.

The companys latest buyout of HEYDUDE, which sells lightweight, casual shoes and sandals for men, women and children, is likely to add value to its fast-growing footwear business. This is the second high-growth, highly profitable brand added to the Crocs portfolio.

Crocs believes that HEYDUDEs consumer-insight-driven casual, comfortable and lightweight products perfectly fit its existing portfolio. The acquisition is likely to diversify Crocs brand portfolio and add to its digital penetration, as HEYDUDE has a strong online presence.

The acquisition is expected to be immediately accretive to Crocs revenues, operating margins and earnings. It expects HEYDUDE to deliver revenues of $620-$670 million on a reported basis, beginning Feb 17, 2022. Management expects the HEYDUDE brand to reach $1 billion in revenues by 2024.

Speaking of its online unit, the company has been witnessing significant progress in expanding digital and omnichannel capabilities. Digital sales advanced 20.3% year over year and accounted for 32.8% of revenues in the first quarter. Increased focus on the Crocs mobile app and global social platforms aided digital sales.

Within digital, India, South Korea and Australia regions witnessed double-digit increases from the year-ago period. Gains from strategic collaborations, influencer campaigns, and digital and social marketing efforts remained upsides.

Driven by these factors, management updated the guidance for 2022 and issued a second-quarter view. For 2022, revenues related to the HEYDUDE buyout are likely to be $750-$800 million on a reported basis, up from $620-$670 stated earlier. The company expects revenue growth (excluding HEYDUDE) of more than 20% for 2022. Consolidated revenues are projected to be $3.5 billion, suggesting year-over-year growth of 52-55%.

Adjusted earnings are envisioned to be $10.05-$10.65, up from the prior stated $9.7-$10.25. The adjusted operating margin is anticipated to be 26-27% compared with the aforementioned 26%.

For second-quarter 2022, revenues are projected to grow 43-49% to $918-$957 million. In the prior-year quarter, it reported revenues of $641 million. The adjusted operating margin is estimated to be 26%, including air freight expenses of $50 million.

However, Crocs is reeling under operational headwinds related to the ongoing supply-chain challenges, high inflation, rising interest rates, adverse impacts of the war in Ukraine and current shutdowns stemming from the zero-COVID policy in China. Supply-chain disruptions have been challenging for manufacturers and have significantly hampered the mobility of products across the globe.

The company notes that global inflation, contributing to incremental freight costs, particularly air freight, will continue in 2022. It expects air freight costs of $75 million to hurt gross margins in the first half of 2022.

Image Source: Zacks Investment Research

We note that shares of CROX have lost 19.8% in the past three months compared with the industrys decline of 7.5%.

Despite supply-chain headwinds and rising inflation, this Zacks Rank #3 (Hold) stock remains well-poised on the back of solid demand, brand strength and robust digital business. Also, the Zacks Consensus Estimate for the companys current financial years sales and earnings suggests growth of 53% and 26.6%, respectively, from the year-ago periods reported numbers. Topping it, earnings estimates for 2022 have moved up 3.6% in the past 60 days.

Some better-ranked stocks from the same industry are Delta Apparel (DLA Quick QuoteDLA - Free Report) , Steven Madden (SHOO Quick QuoteSHOO - Free Report) and GIII Apparel Group (GIII Quick QuoteGIII - Free Report) .

Steven Madden is involved in designing, sourcing, marketing and selling private label footwear, handbags and accessories for women, men, and children. It currently flaunts a Zacks Rank #1 (Strong Buy). SHOO has a trailing four-quarter earnings surprise of 44%, on average. You can see the complete list of todays Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Steven Maddens current financial years sales and earnings suggests growth of 15.2% and 19.6%, respectively, from the year-ago period's reported numbers.

Delta Apparel, a manufacturer of knitwear products, currently sports a Zacks Rank #1. DLA has a trailing four-quarter earnings surprise of 95.5%, on average.

The Zacks Consensus Estimate for Delta Apparel's current financial years sales and earnings per share suggests growth of 11.9% and 10.1%, respectively, from the year-ago period's reported numbers.

GIII Apparel, a manufacturer, designer and distributor of apparel and accessories, presently has a Zacks Rank #2 (Buy). GIL has a trailing four-quarter earnings surprise of 160.6%, on average.

The Zacks Consensus Estimate for GIII Apparels current financial-year sales and earnings suggests growth of 8.7% and 5.2% from the year-ago periods reported numbers, respectively.

Read this article:
Here's Why You Should Hold on to Crocs (CROX) Stock Now - Zacks Investment Research

The Impact of the Musk Twitter Deal on Social Media Strategies – CMSWire

PHOTO:Sundry Photography

No doubt the Elon Musk acquisition bid for Twitter is unprecedented.

Also unprecedented is division among marketers if they should be concerned about the potential impact of the Musk/Twitter acquisition on their social media strategies.

I tried a poll of my Twitter and LinkedIn audience to see if people were thinking of changing their social media strategy. A small number of people responded just over 50 with half saying no.

But for those saying yes or maybe and for those who share that sentiment being concerned on the deal's impact is warranted. Social media has long been an enabler for a brand to connect with customers. The acquisition is increasingly seen as a disruption among Wall Street analysts. The stock price for Twitter has been somewhat muted since the news. Tesla stock price dropped in value as Musk's financing of the deal using his shares was revealed.

Marketers may soon join that chorus, discovering that the deal will not really move the needle for Twitter to compete with other social media platforms.

Musk's Twitter acquisition deal presents an opportunity for Twitter's business model. When a publicly traded company turns private, its management team gains a capacity to focus on developing new products without distraction from quarterly investor demands for new revenue-generating services and driving the share price higher.

That may be a timely benefit given a current downturn in ad spending that is impacting the revenue for social media platforms. The stock market's response to Snapchat's earning report is an example of marketplace sentiment; CNBC and other finance news sources reported that stock prices for Google, Twitter, Facebook, Pinterest, and other social media companies tumbled as a result of market fears that Snapchat's losses from advertising reflects the entire social media sector.

But Musk brings no innovative perspectives to Twitter's real challenges. He instead directs attention toward tactics that appear strategic but are shallow in scope. His call to "open the algorithm" during a TED stage discussion following the bid announcement overlooks a key development fact: algorithm models are created from data, a development process radically different from that for software. Open sourcing any algorithm without agreement on what data is used to test and train the algorithm displays a serious omission of insight into how social media feeds operate.

The same kind of overlook applies to Musk's comments about bots. Political bots with false comparisons and bad messaging do play havoc on Twitter's feed. The same can be said for memes and fake video on other social media platforms, for that matter.

But bots, when applied judiciously, do serve a content marketing purpose. Bots allow more people to review tweets, increasing the reach for the associated content. Many subgroups within Twitter use bots to see tweets they missed when the tweet was first sent. This helps with ensure information is not overlooked.

For example, developers view bot retweets to see news on JavaScript Python, R and other programming languages. This helps in everyone seeing information ranging from new techniques to conferences. In addition, Twitter guidelines require bot profiles to indicate themselves as a bot and list the bot creator in their profile description.

The concern Musk raised about bots really must be directed at the type of content being reshared, not just the mechanism. When political organizations started using the same tactics, pundits and experts raised solid concerns raising amplification of misinformation. Bot misuse is a result of human misbehavior, not just bad technology.

CMSWire Managing Editor Dom Nicastro caught up with social media consultant Lauren Kozak on the potential impact of Musk and Twitter on marketers in a LinkedIn Live last month:

Related Article: Evaluating Elon Musk's Plan to Fix Twitter

Musk's comments about Twitter suggest that the issues are unique to Twitter. In fact, the real technical challenges for Twitter are like those for each social media platform.

Every social media platform is struggling to maintain user interest and maintain features that offer a competitive advantage. Platforms can rapid duplicate competitor features as a countermove. Programming frameworks have eased developers creativity so that functions and variants can be quickly deployed.

This means marketing countermoves to new, programmatic features can quickly occur. For example, Clubhouse immediately saw competition in the live chat space from Twitter and Spotify, with LinkedIn soon offering its version of a live chat feature.

Quickly chosen countermoves do not guarantee success. Take Twitter Fleets. Introduced in November 2020, Fleets were meant to compete against Instagram stories. They existed only 24 hours on a Twitter stream. Twitter discontinued Fleets August 2021 less than a year after it debuted.

The technological challenges of social media are also occurring at a challenging time among tech companies that retain audience interest. Overall online usage has piqued. Because people host profiles on several social media platforms, the competition for user attention has intensified, tested further by work-at-home online behavior due to the pandemic.

This makes audience engagement a crucial part of a platform's viability. The audience size of a platform limits the potential reach of content, diminishing strategy and impacting downstream analysis such as share of voice (SOV), a measurement of the amount of advertising presence for a particular brand, product or service.

SOV is an indicator for comparing to how people are responding online to that of competitors. Its strength lies in people discussing content online with positive and negative experiences. Twitter is among the best platforms for this analysis. The frequency of consumer discussions is hindered if the platform is a ghost town as a response to a looming presence.

Related Article: What Happens to Twitter After Elon Musk's Takeover Fails

Musk's acquisition casts an overbearing shadow over Twitter's user base, rather than over a segment in which people can opt out by simply avoiding engagement. One can make a comparison of Musk's Twitter usage to that of Mark Zuckerberg for Facebook. But Zuckerberg, best known for launching Facebook, has a social media usage that is periodic less frequent than that of Musk's interactions on Twitter. Although Twitter was designed for sharing real-time events, the difference in ownership places a new light on how much ownership influences an overall community.

That looming presence can be a significant impact to some analysis that require large audiences to generate statistical sound insights. A campaign using a hashtag will be likely be unaffected by any large shifts in the number of overall platform users. But a platform with a diminishing audience would begin to limit the kinds of nuanced analysis marketers need to validate innovations.

Twitter has been very instrumental in raising marketer sophistication in cultural marketing appeals to diverse segments such as Black, Hispanic and LGBT consumers. That increase in marketing quality and discussion of inclusion would not have happened if Twitter did not index highly for those segment populations, creating a space to measure and respond to true sentiment through sentiment analysis, share of voice and social listening.

So, with all of this in mind, what should marketers do to protect their strategy?

For starters most social media strategy is based on a focused intention in the content. Focusing on the number of people who engage and the people who convert will minimize controversial topics dialog from entering branding discussions online.

Marketers should also pay attention to trending audiences from their social media. Understanding referral traffic from the social media platforms can help organize decisions on whether to invest more into a platform. That understand can help assess if a platform's decline is leading to less conversions. No one wants to market on the next Google Plus.

Related Article: Twitter's Frankenstein Moment

It will be fascinating to see what comes of the Twitter deal. Twitter is a particular precursory platform for interest for Web 3.0. The platform just allowed NFTs to be profile images, while live discussions about cryptocurrency occur frequently in Twitter Spaces.

Social media was meant to be a distributed system, its value linked to being a gateway to substantial benefits for retail and event commerce. For Musk to make the changes he thinks are needed means having a broader viewpoint that incorporates advertising concerns, a deeper perspective of algorithm, and an appreciation for the various groups who use Twitter many of whom are not using it for amplifying ideology.

Pierre DeBois is the founder of Zimana, a small business digital analytics consultancy. He reviews data from web analytics and social media dashboard solutions, then provides recommendations and web development action that improves marketing strategy and business profitability.

See the original post:
The Impact of the Musk Twitter Deal on Social Media Strategies - CMSWire