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Meta Announces Participants in New Training Program for Black-Owned SMBs, New Support Events Throughout Black History Month
Throughout the pandemic, Black-owned businesses in the US have been significantly impacted, with closure and revenue rates far worse than non-minority organizations in most regions.
According to Meta’s ‘State of Small Business Report’, more than half of minority-led businesses have reported a drop in sales within the period, which is 6 percentage points higher than other SMBs, while almost two-thirds of Black-led businesses, specifically, have reported a drop in sales of more than 50%.
With these sobering stats in mind, Meta has been working to provide more support for Black-owned brands, in order to lift their performance, where possible, and eliminate ongoing social inequality as a result of this shift.
Meta’s latest effort on this front is a new series of events to provide insights for Black-owned businesses, while it’s also announced the participants in a new training and support program for impacted SMBs.
As explained by Meta:
“Throughout Black History Month, Meta Elevate will be kicking off weekly events with industry experts, small business owners and influencers to inspire and educate Black-owned small businesses with a new theme “Black365.” These events, which will start during Black History Month, will continue beyond February to support this community and provide new ways to help their businesses thrive.”
As noted, the events are the latest in Meta’s efforts to provide more support and training for Black-owned SMBs, with both Facebook and Instagram running a range of initiatives over the last year to highlight and support these brands.
In addition to this, Meta has also announced a group of 10 Black-owned businesses that have been chosen to take part in a new training program, as nominated by singer and philanthropist Ciara.
These business owners will take part in a 6-week marketing mentorship, facilitated by Meta Elevate, while Meta will also provide $100,000 in ad credits and creative support so that each business can put their learnings into action following the mentorship.
This is a key area of focus for Meta, in allocating business support where it’s needed most, and lessening the compounding impacts of social inequality. Meta, through Facebook and Instagram, has made a strong commitment to providing more support for minority-owned businesses, and this latest initiative is another step in working to address rising concerns, and empower all business owners to maximize their opportunities equally.
Meta’s ‘Black365’ events will be held throughout February.
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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.
SOCIAL
Instagram Tests Live-Stream Games to Enhance Engagement
Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.
As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.
That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.
Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.
That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.
Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.
Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.
We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.
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