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Musk Plans to Increase Twitter’s User Base by Almost 200% Over the Next Three Years

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Elon Musk certainly has some lofty goals for Twitter, but are they feasible, and can he actually deliver on the targets that he’s setting for the platform as he moves closer to becoming its owner and CEO?

Last week, in a new SEC filing, Musk reported that he had secured around $7 billion in additional funding commitments to solidify his $44 billion Twitter takeover bid. That introduced a range of financial partners into the deal, including Sequoia Capital, Binance, Oracle chief Larry Ellison and Saudi Prince Alwaleed.

In essence, these contributors now become minor shareholders in a Musk-owned Twitter, while he’ll buy out all of the company’s current shareholders once the deal goes through. Which means fewer investors to report to – but then again, these backers aren’t putting billions of dollars behind a Musk-owned Twitter out of the goodness of their corporate hearts, they expect a financial return for their money, which means that Musk must have some plan to turn Twitter into a money-making machine.

And while we don’t know exactly how Musk intends to do that, The New York Times recently obtained a pitch deck that had been presented to these investors, which provides a broad overview of Musk’s Twitter vision.

Among the key points:

  • Musk plans to increase Twitter’s user base from the 229 million daily actives it has right now, to 600 million by 2025, then to 931 million by 2028
  • The roadmap also outlines a 5x increase in Twitter revenue by 2028, rising from $5b in 2021 to $26.5b
  • Advertising income, currently amounting for 90% of Twitter’s intake, will reduce to around 45% of the company’s revenue
  • Musk plans to cut around 1,000 staff at Twitter over the next year, before adding around 2,700 new employees by 2025. 

As noted, these are some lofty goals, and how, exactly, Musk plans to boost Twitter’s user base so significantly is not clear. But clearly, investors have faith in the Tesla owner’s track record – which could well be the best strategy, as he has been able to turn his other companies into major financial successes over time.

It’s just hard to see a pathway for Musk to make Twitter a more important, attractive option to users. I mean, by now, everybody knows what Twitter is, and almost anyone who’s interested has signed up. What can he add to make non-users more interested again, and make current users want to spend even more time in the app?

That element is unclear, and I’m not sure Musk himself is entirely solidified on that middle step. But he and his team must have something in mind, these numbers didn’t just come from nowhere. But if live-streaming, Fleets, Moments, Spaces – if all of these additional elements haven’t made Twitter a must-use app yet, what’s next on the cards to sweeten the app offering?

A key focus element for Musk is subscriptions, and boosting the amount of users that pay to access the app, which is one pathway that Twitter can take to reduce its reliance on ad revenue. Twitter Blue, thus far, has not been a success – but in his plan, Musk also notes that he expects Twitter Blue subscribers to rise to 69 million users by 2025.

Why will users pay to use Twitter Blue more in future?

Part of Musk’s push is that he will look to use subscriptions as a form of verification, giving paying users a checkmark of some sort which delineates that they are, in fact, a human, and that they’re registered their details in the app.

That could also negate the influence of bots – though not entirely, as Musk has said that Twitter will always remain free, at least on some level.

Maybe, then, the 69 million subscribers that he’s targeting could actually be business accounts – but even so, it’s hard to imagine many brands will be happy to pay for basic access, without some sort of additional sweetener to Twitter’s subscription offerings.

Though if he can raise the user count, brands will increasingly want in, and if Musk made all brands pay for Twitter access, you can see how this could become more significant.

If he can boost Twitter’s usage – which, it’s worth noting, hasn’t risen in any significant way for some time.

As you can see in this chart, Twitter’s Monetizable Daily Active User count has increased by 108m over the past five years. Under Musk, he expects to see that jump by 371m – close to 200%, growth – in the next three.

I don’t know what Twitter can do to achieve this, but maybe, Elon has a plan. Maybe there is a pathway that no one else can see as yet, and it’s possible, somehow, that it will see unprecedented growth once Musk steps in as CEO.

I don’t know – it seems optimistic, but again, Elon Musk has defied popular belief in the past, and come out on top.

This, though, would be a next-level magic trick, while the public nature of it, too, will put a lot of pressure on Musk to prove his perceived genius.

We’ll soon find out – according to reports, Musk will take over as interim Twitter CEO shortly, as the final details of his takeover deal go through.

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How to Successfully Use Social Media: A Small Business Guide for Beginners [Infographic]

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How to Successfully Use Social Media: A Small Business Guide for Beginners [Infographic]

Are you a small business owner or marketing manager, just getting started on building your social media strategy? Need to learn the basics before launching your first social media campaign?

In this infographic, Sprout Social shares social media tips broken down as follows:

  • Who uses social media?
  • What does social media do for you?
  • Define your goals
  • Targeting your audience
  • Choosing a platform
  • Social media metrics

Check out the infographic below to learn more.

How to Successfully Use Social Media: A Small Business Guide for Beginners

Sprout Social

 

 

 

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Moore Digital Names Two Executives To Serve Nonprofit Fundraisers 02/07/2023

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Moore Digital Names Two Executives To Serve Nonprofit Fundraisers 02/07/2023

Moore Digital, which assists nonprofit clients with fundraising, has named Adva Priso as chief strategy officer and Bonnie Huey as senior vice president of
digital media.

They are joining a team of “more than 70 top digital experts from across the for-profit and nonprofit industries, including strategists,
media planners and …



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Pinterest Now up to 450 Million Active Users, Posts Solid Numbers in Latest Performance Report

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Pinterest Now up to 450 Million Active Users, Posts Solid Numbers in Latest Performance Report

Pinterest has posted its Q4 and full-year earnings for 2022, showing steady increases in both users and revenue, as it continues to build out its various offerings.

First off, on users, Pinterest added five million more active users – most of them coming from Europe – within the final measurement period of last year.

That’s a good sign for Pinterest, which actually lost users in early 2021, after the COVID-induced boom in eCommerce activity of the previous year, which saw the platform post record high usage numbers.

Many analysts and businesses seemed convinced that the COVID boost to online shopping would hold, even after the pandemic ended. That lead to companies like Meta, Google, Amazon and Twitter investing big into commerce solutions – but many of the staff they put on were eventually culled in the most recent round of lay-offs, because once physical stores re-opened, people actually did go back to shopping as normal, as opposed to continuing to rely on online options.

Pinterest felt that the most, but now, it’s steadily building back up again, as it continues to refine its solutions around evolving shopping behaviors. Which includes video content.

Pinterest’s big winner on this front has been Idea Pins, its Stories-like option which presents uploaded video in a swipeable, full-screen display.

Pinterest Ideas Festival updates

The emphasis on this format has helped boost the platform’s appeal with younger audiences, with Pinterest reporting that Gen Z was the fastest-growing demographic on the platform, increasing double digits year over year.

“Gen Z sessions grew much faster year over year than sessions from older demographics, while nearly half of all new videos pinned in Q4 were from Gen Z users.”

Pinterest also says that sessions continued to grow faster than MAUs, an indicator that it’s driving better engagement overall, while it also increased its overall video supply by 30%, another marker of the popularity of Idea Pins.

Because you can’t post video as a native pin anymore, only in Idea Pins (or paid ads), underlining the focus on the format, and Pinterest’s evolving usage.  

On the revenue front, Pinterest posted a 4% year-over-year increase, after bringing in $877 million Q4.

Pinterest Q4 2022

As you can see in this chart, Pinterest’s revenue is climbing steadily, though its revenue splits remain concerning:

Pinterest Q4 2022

Or maybe you see this as an opportunity, with Pinterest still able to potentially eek out a lot more revenue from regions outside of the North American market. Definitely, it’s got some work to do in that ‘Rest of World’ bracket.

But Pinterest is still developing, and is still expanding its ad and business offerings into new regions. So there is, indeed, potential there – yet the size of the gap here is a concern.

Still, there is growth, slowly but surely, and maybe, if you’re a believer, you can see more ways for Pinterest to generate much bigger revenues moving forward.

Pinterest remains focused on shopping, and highlighting relevant products to users, with its ever-evolving recommendation engine providing better content matches to more users every day. It’s also investing in live-stream shopping, a trend that all platforms hope will catch on in western markets, while it’s developing more presentation tools for Idea Pins to capitalize on that engagement.

In combination, these approaches are working – but at the same time, usage growth in your local market may have stalled, going on these charts.

And of course, while overall growth is interesting, what marketers want to know is whether their customers are there.

For this, you can use Pinterest Trends, which enables you to search for the most popular Pin trends by region.

Pinterest Trends

Tap into these with Idea Pins and you’ll likely be on the right path, based on these latest insights from the app.

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