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X is Reportedly Looking to Charge $50k for Dormant Handles in the App
Look, I get that X needs to expand its income streams, and I understand the logic behind charging for different elements, in the hopes of both combating bot peddlers and bringing in more money.
But some of the price points that Elon and Co. have come up with are… well, they’re at the higher end, to say the least.
Today, Forbes has reported that X is putting together a new program to sell dormant X @handles, with a starting price of $50k.
Yes, fifty thousand dollars for the handle of your choice.
As per Forbes:
“Emails reveal that a team within the company, known as the @Handle Team, has begun work on a handle marketplace for the purchase of account names left unused by the people who originally registered them. In at least some cases, X/Twitter has emailed solicitations to potential buyers requesting a flat fee of $50,000 to initiate a purchase.”
Which seems like a lot, putting these handles beyond the reach of almost anybody but big-name brands.
But maybe, if some of them bite, I guess it’s worth a shot?
X owner Elon Musk has been discussing options for dormant handles since he took over at the company late last year, noting last December that X would be looking to make these usernames available for new use.
Twitter will soon start freeing the name space of 1.5 billion accounts
— Elon Musk (@elonmusk) December 9, 2022
Back in January, The New York Times reported that X had considered an auction system to sell off the most popular usernames. But it’s since been pretty quiet on the @handle sales front, with X seemingly moving on from the idea.
Evidently, that wasn’t the case, with X simply taking the time to formulate the structure of this new process, which now looks set to move to the next stage, with X selling usernames to the highest bidder.
Which will no doubt upset some users who’ve had their name on a specific handle, but then again, with X’s popularity seemingly in decline, it’s hard to see many people or brands being willing to fork out $50k for a better-suited name.
As noted, under Musk, X has been keen to explore new revenue streams, as he looks to get the business back in the black, and on a path to becoming a more viable, long-term option.
The main push here has been cost-cutting, with Musk culling 80% of the app’s former staff, while X has also implemented higher costs for API access, and new charges for X Premium, including its $1,000 per month gold checkmark package for brands.
Which also seems beyond the realm of viability for most brands, though X’s pitch is that businesses that pay also get additional exposure benefits, which makes it worth $1,000 per month in comparable ad spend.
But then again, X has been giving the gold tick to all brands that spend $1,000 per month on ads, negating that premise, as the only way it would be of value is if you weren’t already spending that amount in the first place. More recently, X has informed verified organizations that it will cut them off from the program if they don’t keep up their ad spend.
Overall, there does seem to be a disconnect between what X thinks its various offerings are worth and what users are willing to pay. Fewer than 1% of X users are paying for X Premium, and while it has now added some new pricing tiers for the program, in order to entice more interest, it’s hard to see this catching on, and becoming a major consideration for the vast majority of the platform’s 244 million active users.
X even seems to have conceded this point with its new program, charging new account sign-ups in New Zealand and the Philippines $1 per year if they want to post or engage in the app. That’s a more viable fee, though even then, I’m guessing that most people won’t pay. 80% of X users only ever read posts in the app, without engaging in any way, and if you force more people to pay for the privilege, it seems more likely that even more of them will just stick to reading, with the eventual outcome being fewer posts in the app, for not much return.
But money’s not really the main objective in this effort. Elon is convinced that charging a fee is the only way forward for X, and social media in general, in the battle against bots.
INSIGHT: Elon explains why X needs to introduce payment verification for all users (the $1 Not A Bot program).
He says the problem of AI bots may become insurmountable in 2024, and any social platform that doesn’t implement verification will be overrun.pic.twitter.com/hU7iiR3aPj
— X News Daily (@xDaily) November 3, 2023
The argument makes some sense, but at the same time, X is also rolling out an ID verification program to confirm that real people are behind accounts. That would be another way to combat bot profiles, but it’s currently only available to those who are signed up to X Premium.
So, by Elon’s logic, paying profiles are real people, and those real people can double confirm that they’re genuine by undertaking this additional ID verification element. But non-paying users can’t do it.
It’s contradictions like this that hint at another motivation for X’s payments push, like maybe connecting a bank account to user profiles to expedite its shift into payments, shopping, etc.
It’s hard to know exactly what the longer-term view is, but X continues to seek new methods for squeezing more money out of users, for anything that may be deemed as being of value in the app.
So if you really want that cool @handle, better go have a word to your bank about extending your mortgage.
SOCIAL
12 Proven Methods to Make Money Blogging in 2024
This is a contributed article.
The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:
1. Embrace Niche Expertise:
Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.
2. Content is King (and Queen):
High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.
- Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
- Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
- Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.
3. The Power of SEO:
Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.
- Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
- Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
- Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.
4. Monetization Magic: Affiliate Marketing
Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.
- Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
- Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
- Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.
5. Display Advertising: A Classic Approach
Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.
- Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
- Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
- Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.
6. Offer Premium Content:
Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.
- Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
- Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
- Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.
7. Coaching and Consulting:
Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.
- Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
- Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
- Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.
8. The Power of Community: Online Events and Webinars
Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.
- Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.
9. Embrace the Power of Email Marketing:
Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.
- Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
- Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
- Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.
10. Sell Your Own Products:
Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.
- Identify audience needs: Develop products that address the specific needs and desires of your target audience.
- High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
- Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.
11. Sponsorships and Brand Collaborations:
Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.
- Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
- Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
- Align with your niche: Partner with brands that complement your content and resonate with your audience.
12. Freelancing and Paid Writing Opportunities:
Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.
- Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
- High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
- Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.
Conclusion:
Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.
Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.
Image Credit: DepositPhotos
SOCIAL
Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?
In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.
The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.
According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.
Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.
Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.
The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.
This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.
Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.
As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?
Only time will tell.
SOCIAL
Catering to specific audience boosts your business, says accountant turned coach
While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.
When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.
“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.
Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.
“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â
“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.
“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.
Watch the video for more of Sandra Parker’s biggest lessons.
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