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Meta Outlines Key Areas of Focus, and Business Opportunity, Following Downbeat Earnings Report

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Meta Implements New Changes to Housing, Employment and Credit Ads to Eliminate Potential Discrimination

After a disastrous earnings report, in which Meta informed the market that its net income was at its lowest levels since 2019 in the most recent quarter, largely due to ongoing, and rising investment in its metaverse vision, Meta has sought to reassure investors that it has a plan to get its financial performance back on track, despite rising challenges in the digital ads space.

In the accompanying earnings call, Meta CEO Mark Zuckerberg outlined the company’s four key areas of focus moving forward.

Those are:

  • Improving its AI discovery tools to maximize engagement in its apps
  • Adding new business messaging features to monetize the user shift towards messaging, and away from social apps
  • Re-building its ad tools to reduce reliance on user data
  • Continued development of AR, VR and the metaverse, with a focus on the future

 

Here’s a look at how Meta is planning to tackle each:

Improving its AI discovery tools

The first point has already proven contentious, with users pushing back against Meta increasingly looking to pump more content from profiles that you don’t follow into news feeds.

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This approach, which was guided by TikTok, aims to maximize the value of the content available in each app, by highlighting the best, most engaging posts, regardless of who posted them, to more users. In the past, both apps have pushed users to curate their own streams, based on their interests, but now, Meta’s confident that its AI tools will be able to show you more of what you like in its apps, even if you don’t know that it exists.

And in variance to TikTok, Meta says that it can actually provide a better experience on this front, because it can also apply its AI content matching across a wider range of content types, including photos, text, links, communities, and all kinds of videos.

“We can also mix this content alongside posts from your family and friends, which can’t be generated by AI alone.” 

The assumption here is that users actually want all of these different types of content on a single platform, as opposed to TikTok, where you just get a constant stream of video clips. Whether that’s true or not is unclear, but TikTok continues to engage more users for longer, so it doesn’t seem to be a problem impeding its growth.

Which, in turn, may mean that it’s not a competitive advantage for Meta either.

Either way, the amount of AI-recommended content is only going to increase in Meta’s apps.

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Back in July, Zuckerberg noted that:

“Right now, about 15% of content in a person’s Facebook feed and a little more than that of their Instagram feed is recommended by our AI from people, groups, or accounts that you don’t follow. We expect these numbers to more than double by the end of next year.”

Shortly after Zuckerberg said this, Instagram announced that it was scaling back its AI recommendations due to negative feedback, but over time, you can indeed expect Meta to show you more and more stuff, from all different types of users and profiles – whether you’ve chosen to see it or not.

Which is a big shift, especially given Meta’s past insistence that it needs an algorithm to sort through all the posts it could show you, because people simply follow too many people and Pages to show you everything from all of them, every day.

Now, it seems, the opposite is true. Which leads into the second element.

Monetizing the user shift towards messaging

More people are now sharing more content with smaller groups of people in their DMs, as opposed to posting public updates to Facebook or Instagram.

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This shift is actually present across all social apps, with a new report published this week also showing that usage among Twitter’s most active users has been in steady decline since the beginning of the pandemic.

The reasons for this are varied. One contention is that, due to the ongoing polarizing impacts of political commentary on social networks, mare users are now increasingly inclined to keep their opinions to themselves, or to share them with a smaller group of trusted friends, rather than broadcasting them for everyone to see, criticize and attack them over.

Meta highlighted this as a key concern among its users last year, with Zuckerberg noting:

“One of the top pieces of feedback we’re hearing from our community right now is that people don’t want politics and fighting to take over their experience on our services.”

There have also been various high-profile cases of celebrities being brought down when their past, offensive tweets have been uncovered, while the shift towards more entertaining content – again driven by TikTok – has also made regular updates feel more stale and less engaging.

The result, then, is that people just aren’t posting as many feed updates as they once did. And with that, Meta’s looking to tap into the resulting growth in messaging as a potential revenue opportunity.

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Even though it’s never been able to effectively monetize messaging in the past.

But it, possibly, has a plan:

“As more social interactions move to messaging, we’re developing a flywheel between discovery and messaging that will make all these apps stronger. On Instagram alone, people already reshare Reels nearly 1 billion times daily through DMs.”

Meta’s also working to monetize WhatsApp, with Zuckerberg specifically noting that ‘paid messaging is going to be ‘a big opportunity’ moving forward.

On this front, Meta points to opportunities like:

  • Click-to-Messaging ads, which let businesses run ads on Facebook and Instagram that start a thread on Messenger, WhatsApp or Instagram Direct so they can communicate with customers directly. This is one of our fastest growing ads products, with a $9 billion annual run rate. 
  • Click-to-WhatsApp also just passed a $1.5 billion run rate, growing more than 80% year-over-year.

Whether Meta is able to effectively monetize messaging is a big question, but you can expect it to keep highlighting the potential tapping into the growth of messaging as a means to maximize your marketing and brand-building efforts.

I remain unconvinced that users are super keen to message with businesses, but there may be new ways for Meta to tap into this shift.

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Re-building its ad tools to reduce reliance on user data

Meta’s also losing out on ad dollars due to Apple’s iOS 14 privacy updates, which got even worse this week when Apple announced a new App Store tariff on post ‘boosting’ on social platforms.

In response to this, Meta’s looking to improve its AI and machine learning solutions to better automate ad targeting, based on the insights that it can use, as opposed to leaving it up to advertisers to select specific audience subsets which may not be as effective.

This is a tough sell, because for years, Meta has touted its unmatched audience insights as a means to hone in your ad targeting, and reach just the right audiences with your promotions. Now, it’s saying that you should trust its AI black box to display your ads to the right people, even if you have no idea who they are.

Meta’s main solution on this front is its Advantage+ ad suite, which cuts out all of the targeting, and just asks advertisers to set a budget, a date range, and to upload their creative – Meta’s system will do the rest.

Which many will feel uncertain about – but Meta says that its systems are producing results:

Recent testing found that advertisers using Advantage+ shopping campaigns saw a 17% improvement in their Cost Per Acquisition and 32% increase in Return on Ad Spend.”

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Meta’s continuing to evolve its tools, and it may well be that its systems do end up producing better response rates than your own targeting would. It puts a lot of trust in Meta’s systems, but if it works…

Eventually, you may not need to do much manual work on your Facebook and IG ads at all, just upload your creative, set a budget, and let the system do the rest.

And then, finally, there’s the metaverse, and the theoretical opportunities of the theoretical VR wondersphere, where anything and everything will be possible.

Eventually.

I have no doubt that the metaverse will become a thing, and that these more immersive experiences will grow into more habitual, transformational trends at some stage. I’m just not sure when that will be. Meta says that it’s a decade out, and it may be even more than that, while various other non-Meta execs say it’s a path to failure, littered with health impacts, dangers, regulatory concerns, etc.

Either way you look at it, the metaverse is not close, with widespread adoption of VR headsets, or potentially AR glasses, being the first big step that needs to happen before you even need to consider what the opportunities might be here.

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But Meta remains confident that it will be a thing, and over time, we’ll see what sort of applications and tools emerge in VR that draw people into the experience.

When you see those trends shift, you’ll need to pay attention – but till that happens, it’s largely academic. And if any advisers are telling you that you need a metaverse strategy, I’d probably be assessing how much money they stand to make from such, in variance to the potential value for your business.



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12 Proven Methods to Make Money Blogging in 2024

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Make money blogging

 

Make money bloggingThis 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.

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

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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.

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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.

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Catering to specific audience boosts your business, says accountant turned coach

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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.” 

“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.

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“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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