SOCIAL
Elon Says Revised $8 Twitter Blue ‘Verification’ Program Will Resume on November 29th

Elon Musk’s $8 blue ticks for all ‘verification’ program, his first major user-facing initiative since taking over the app, has caused a broad range of issues, including rampant impersonation, internal confusion over how to enforce the platform’s rules, potential legal concerns, and even stock market impacts for some impersonated businesses.
Which is largely in line with what everybody said would happen – even Twitter’s own staff, who informed Musk of potential concerns before the release.
But Musk pushed ahead anyway, before eventually agreeing to pause the roll-out, just a few days after launch, due to the aforementioned problems.
Twitter also added a new ‘official’ checkmark to combat impersonation, then removed it, then added it again. Which is pretty indicative of the current state of the app – and now, with a few revisions, Elon has set a new date for the re-launch of his $8 checkmarks program:
Punting relaunch of Blue Verified to November 29th to make sure that it is rock solid
— Elon Musk (@elonmusk) November 15, 2022
Where the same problems will inevitably abound again, unless there’s a new process which includes, like, actual ID verification within the set-up, or maybe a different kind of checkmark to differentiate it from the current one, which is provided to notable, verified users in the app.
Thus far, it doesn’t seem like either of these elements are under consideration for Musk’s ‘great leveler’ program.
Musk views Twitter’s blue checkmarks as some kind of status marker, which separates the ‘haves’ from ‘have nots’ in the app. And while I’m not sure that anyone else sees them that way, Musk seems to believe that, because of this, he’ll eventually be able to convince millions of users to pay $96 per year for a badge in the app, which will then enable him to move to the next phase of the plan, in cracking down on bot profiles – because with so many people signing up, the only ones without a blue checkmark will, eventually, all be bots.
Even though there’s no chance, based on its current construction, that this, conceptually, is going work.
Because millions of people aren’t going to sign-up to pay $8 per month for a tiny graphic next to their name, which will mean nothing at all once everyone can buy one.
Sure, some people will pay. Fans of Elon, those who’ve always wanted a blue checkmark – there’s a percentage of Twitter users who clearly will pay $8 for the blue tick. Indeed, according to reports, 140,000 Twitter users signed up for the program in those initial days that it was available, which is more than the amount of users who signed up for Twitter Blue (100k), the platform’s initial subscription offering.
That shows promise, right? 140k sign-ups in a couple of days. That shows that Elon’s likely onto a winner. Right?
The thing is, 140k equates to 0.06% of Twitter’s total userbase. That’s still a lot in just a few days, but it’s nowhere near the amount that Elon would need in order to facilitate that next stage, in using this as a way to identify bot profiles versus real people via checkmarks in the app.
It’s also not enough to meet Elon’s plan to make subscriptions 50% of Twitter’s revenue intake.
Twitter brought in $1.18b in revenue in Q2, meaning that Elon needs to make at least $590 million from subscriptions, per quarter, to reach his target. That equates to around 24.6 million paying subscribers signed up to his $8 verification plan. Which is a lot – again, the original Twitter Blue only ever had 100k sign-ups, and while 140k new subscribers in just a few days, in limited release, seems positive, he essentially needs 175x that to even reach his 50% revenue benchmark.
And for it to work as a marker of bots vs humans, it’s way higher than that figure again. You would assume that Musk would need something like 75% of Twitter users (178m), or potentially more, to sign on in order for this to be a clear indicator of real people versus fakes.
I seriously doubt that 178 million people are going to pay to use the app, when they could just use any other social app, for free.
But then again, maybe Elon has new elements that’ll be revealed which sweeten the deal – while he has also threatened to reduce the reach of non-paying Twitter users as a means of forcing people to pay up.
But the majority of Twitter users don’t ever tweet anyway, so that probably won’t work either. But again, it’s impossible to judge till we see what comes next, and what refinements Twitter’s looking to make before re-release.
Though there is this:
With new release, changing your verified name will cause loss of checkmark until name is confirmed by Twitter to meet Terms of Service
— Elon Musk (@elonmusk) November 15, 2022
As a reminder, Twitter blocked all verified users from changing their name last week in response to many people changing their username to mock Musk specifically, along with other brands and celebrities.
Now, as a measure to combat impersonation, Twitter will implement a process to check altered usernames before letting you go ahead. Which is a good move that should address at least some of the recent impersonation issues – though who, exactly, is going to be checking and approving such is also interesting, given that Elon has sacked the majority of Twitter staff and contractors.
In summary, I still don’t think that Elon’s $8 checkmark program is the right way to go, and I don’t think anyone at Twitter thinks it is either. But Elon’s also made big announcements and proclamations around the offering – I don’t see him backing away from it now.
Which means that Twitter’s verification system will likely cause more chaos in a few weeks – but till then, we’ll have to hold ourselves over with Musk’s random public attacks on staffers and self-praise, as he learns the ropes at the app.
SOCIAL
LinkedIn Creates Profile Summaries, Job Listings Via Generative AI 03/22/2023

Microsoft-owned business and
employment-focused social platform LinkedIn is adding a new ChatGPT-powered tool Premium subscribers can access to create personalized writing suggestions for sections of their LinkedIn profile, as
well as other AI integrations.
LinkedIn Premium subscribers now have the option to “Enhance” their profile via AI-drafted options for the …
SOCIAL
Pinterest Provides New Tips on Effective Pin Advertising Approaches

Pinterest has provided some new Pin ad tips, based on various brand lift studies, incorporating feedback from over 120,000 Pinners. The data shows that taking a multi-format, multi-stage approach can provide bigger returns, with brands that focus on awareness, consideration, and conversion seeing, on average, three times higher conversion rates than those aligned with just one objective.
Here’s a look at Pinterest’s key tips:
Experiment with multiple objectives
As noted, Pinterest’s main action point is that advertisers should aim to target consumers at each stage of the purchase cycle, as opposed to focusing on just one aspect.
As per Pinterest:
“By adopting more than one objective, advertisers have seen up to a 57% improvement in sales lift. If you’re focused only on conversion, you may forgo reaching new customers further up the funnel.”
Of course, Pinterest would say that, as more ads equals more money for them, but the data shows that taking a broader focus, that incorporates each element, provides more scope to connect with Pinterest users, which can deliver better results.
Upweight your spend towards video
As with all social platforms, video is the most engaging format on Pinterest, and is the most resonant messaging vehicle for brands.
So impactful is video in the app that Pinterest advises that brands should aim for video to comprise between 50% to 60% of their media plan, in order to maximize ROI and response.
Idea Pins are now Pinterest’s key format on this front, its TikTok-like full-screen vertical feed – and based on the data, that is proving to be the most effective brand messaging method.
Keep your campaign feeling fresh
Including ad variations in your creative mix can also improve your Pinterest campaign performance.
“A campaign with 10-15 creative executions (across a two month period) can drive a 3.2x increase in ad recall. While a campaign with 16+ creative executions can drive 2x the lift in favorability.”
That’s a lot of variants to come up with, but Pinterest also notes that using 3+ ad formats can increase awareness 3x, so you don’t necessarily need 16 or more versions of each ad, just a few to keep things fresh, and keep your promotions more engaging.
Take a holistic approach to measurement
Finally, Pinterest advises that brands need to link their upper funnel brand building and acquisition efforts to lower funnel performance activity, in order to get a true gauge of campaign performance.
“How-to videos, recipes and tutorials measure substantially stronger mid-lower funnel uplifts like 12x the impact on brand favorability and 8.5x on purchase intent. To maximize results pick the ad format that best fits your goals and aim to educate and inspire Pinners to incorporate your products or brand in their life in relevant ways.”
In other words, you need to consider the performance of each aspect in a broader campaign sense, as opposed to measuring each element against the same data points.
These are some interesting notes, which could help you put together a more effective Pinterest marketing strategy. And with 450 million users, and rising, and high purchase intent, it is worth considering the platform, and its potential value for your promotions.
You can read more Pinterest campaign set-up tips here.
SOCIAL
Social media frenzy fuels bank busting panic

Copyright ANP/AFP Sem van der Wal
Juliette MICHEL
Fearful Twitter posts and anxious WhatsApp exchanges coupled with online banking ease are seen as helping power an internet-age run on a pair of now-collapsed American lending institutions.
Both Silicon Valley Bank and Signature Bank were hit with massive withdrawals by customers fearful of losing their money, but the speed was dizzying in an age when rumors spread like wildfire on social media and apps make moving funds with the click of a button simple.
Congressman Patrick McHenry, chairman of the US House Financial Services Committee, referred to the recent turmoil as “the first Twitter fueled bank run.”
Some messages that caused cold sweats among financial customers proved to be misleading, prompting calls to focus on facts not speculation.
Gone is the time when a “run on the bank” meant mobs of customers banging on bolted doors and demanding deposits back.
Now, as rumors of dwindling bank reserves ricochets about social media, customers can make them real by tapping into online accounts to transfer money.
Federal authorities took over Silicon Valley Bank (SVB) last week less than 48 hours after it first announced bad news.
The forced closure of Signature Bank came just two days later.
In between, high-profile entrepreneurs sounded an alarm and fired off advice on Twitter.
Investor Bill Ackman tweeted during the weekend that if federal regulators didn’t quickly step in and guarantee all deposits, runs on other banks would start Monday.
“You should be absolutely terrified right now,” investor Jason Calacanis tweeted, using all capital letters for emphasis.
“That is the proper reaction to a bank run and contagion.”
Meanwhile, startup founders shared bank trouble rumors in WhatsApp groups.
“The mix of technology and fast-moving rumors fueled a crisis of unprecedented speed,” researcher Jonathan Welburn of the Rand Corporation think tank told AFP.
Online banking was around during the 2008 financial crisis, but “the adoption of these technologies is definitely increasing,” he said.
– Circuit breakers? –
Banking regulators need to put in place “circuit breakers” that could quickly suspend banking transactions in the event of cyber attacks, weather disasters, or customer panic, said Hilary Allen, a specialist in financial technologies at American University in Washington.
This is a “very political” undertaking, Allen said.
“Banking regulators need to think about what this kind of technological circuit breaker would look like, and in which circumstances they would be ready to deploy it.”
Markets have seen the power of online platforms trigger surges in the prices of “meme stocks” like video game retail chain Game Stop and AMC Theaters due to endorsements in chat forums at Reddit.
“The flip side is that social media can also exacerbate panic and loss of confidence,” Allen said.
In the case of SVB, fears which spread on social media resonated loudly with the bank’s customers, who tended to be tech-savvy entrepreneurs keenly tuned in to online chatter.
The collapse of SVB was the second largest bank failure in the United States but played out in barely two days.
The largest bank failure in the country, that of Washington Mutual in 2008, took place over the course of eight months.
At that time, Twitter and iPhones were fledgling products; there were no WhatsApp groups, no Slack chat threads, Welburn noted.
“What happens when bankers are drowning their sorrows in the social media age?” Welburn wondered.
“Viral posts, retweets and shares could deprive regulators of precious time.”
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