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#SMTLive Recap: Adjusting Your Social Media Budget to Support Recent Changes to Business Needs

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Despite everything going on with COVID-19, we’ve found a silver lining in getting to host our #SMTLive Twitter chats for you more often these days. This week, we discussed adjusting social media budgets due to recent Coronavirus-related changes. It was fascinating to see how everyone is innovating and improvising financially. If you were able to join this week’s Twitter chat, we hope you learned something about adjusting your budget from the other talented social media marketers in this chat. If you missed it, not to worry, we’ve recapped the highlights for you below.

Let’s dive right in. Clearly many (many) social media budgets have been affected here, so we created a more specific poll regarding how #SMTLive participants’ wallets have been impacted.

While it was encouraging to see that a lot of people haven’t seen a change in spending yet, many users saw a decrease in funding for social as well.

@TJMO, hats off to you for even attempting to manage restaurant-industry social right now. Wishing you the best!

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Pausing marketing services seems more common than not these days. However, @TJMO noted that ads have gotten a bit cheaper as a result.

Decisions, decisions.

@vine_agency applauded restaurants and coined a useful new-to-us term: panic-pausing.

Being that ads are now cheaper as a result of budget cuts, some businesses might be more inclined to dive headfirst into paid media. But, at the same time, there’s nothing cheaper than organic content. #SMTLive participants were eager to discuss balancing where to invest time and limited funds in this new environment.

@missamander suggested that high-value ads could be worth the money right now.

@Nike may have hit the nail on the head with their (paid) compassion for the situation here.

@vine_agency is tackling the paid vs. organic balancing act right now.

Multiple #SMTLivers emphasized the bottom line during this chat: Budget doesn’t matter to most social media marketers nearly as much as sensitivity to and awareness of the current situation.

Some businesses have the opportunity to cash in on relatively cheap ad buys right now, but how are they going about this strategically?

@Jill_Messinger picked up on the quarantine TikTok trend.

Now might be a better time than ever to experiment with TikTok marketing. If you’re interested, the above article offers further guidance.

However, if your audience isn’t on a platform, there’s obviously no use in investing in it, no matter how trendy. That’s one thing about social media marketing that will probably never change, pandemic or no pandemic.

For those who have the funds, boosting those empathetic messages you’ve worked so hard to put out on social could be a huge value add.

It seems like this strategy is working for at least one of us.

@vine_agency offered some platform-specific advice for boosting important content.

Even users who aren’t currently boosting their content offered advice.

Here are a few organizational techniques from #SMTLivers who have been there, done that regarding social media spend.

Whether you use in-platform tools like @Smita_DigiMarke or external tools like the one @vine_agency mentioned, staying organized feels rather important when your budget could change daily.

We wanted to know how we can help out our #SMTLive family during this time!

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We’re so happy to hear that you’re loving these chats. Please feel more than free to contact us with suggestions for them – they’re here for you!

Other users were interested in how those free trials have been going regarding tools. We’ll be sure to keep that in mind for future chats, but thank you to everyone who participated in this one. We know it can get a little lonely as we all try to navigate working in social at a time when more people are glued to their apps than ever, so we’re glad these have been helping. Don’t forget to tune in next week, same time, same place.

Socialmediatoday.com

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Elon Musk’s Team Asks for More Data to Complete Assessment of Twitter Bots

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Elon Musk's Team Asks for More Data to Complete Assessment of Twitter Bots

Okay, let’s just check in on the latest with the Twitter/Elon Musk takeover saga, and where things are placed to close out the week.

According to the latest reports, Musk’s team recently asked Twitter for more tweet info, in order to help it make an accurate assessment of bot activity in the app. This comes after Musk questioned Twitter’s claim that bots and fake accounts make up only 5% of its active user base, and said that his Twitter takeover deal could not go ahead unless Twitter could produce more evidence to support this figure.

Which Twitter did, by providing Musk with access to its ‘full firehose’ of tweets over a given period, which it shared with Musk’s team back on June 8th. Musk’s group has now had that data for a couple of weeks, but this week, it said that this info is not enough to go on, and that it needs even more insight from Twitter to make its judgment.

And after initially resisting calls for more data access, Twitter has now reportedly relented and handed over more tweet data access to Musk’s team.

Which may or may not be a concern, depending on how you see it.

In its initial data dump, Twitter reportedly gave Musk’s team info on:

  • Total user tweets (within a given time period)
  • Data on which devices were used

As noted, Musk’s team says that this has not provided it with the insight that it needs to conduct an accurate analysis of potential bot activity, so Twitter has now provided Musk with more ‘real-time API data’.

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It’s not clear whether that means that Twitter has provided everything that its API systems can provide, but that could mean that Musk’s team can now access:

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  • Real-time info on tweet text and visual elements/attachments
  • Data on retweets, replies, and quote Tweets for each
  • Data on tweet author, mentioned users, tagged locations, hashtag and cashtag symbols, etc
  • Date, time, location, device info

That should satisfy any analytical needs to uncover potential bot trends, and get a better handle on Twitter’s bot problem, though it also means that Musk has all your tweet info – which, again, it’s worth noting, Twitter up till now had been hesitant to provide.

I’m sure it’s fine. Musk’s team is beholden to disclosure laws around such, so it’s not like they can do anything much with that info anyway, in a legal sense. But the idea that the sometimes erratic Elon Musk now has all the tweets could be a little concerning for some.

But Twitter likely had to provide what it can, and if Musk is going to become CEO of the app soon anyway, he’s going to have access to all of that data either way.

But still, given Musk and Co’s past history of undermining and attacking critics, sacking trouble maker employees and digging up potential dirt on rivals, it sits a little uneasy.

Should be fine. No problems – no need to go deleting all your DMs (which are likely not included in the data that Twitter has provided at this stage).

According to reports, Musk’s team says that it now has the info it needs to make its assessment of bot activity, which should see the deal move forward (or not) sometime soon.

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Of course, no one knows what exactly is going to happen next, and whether Musk’s team will look to renegotiate, or even back out of the deal entirely as a result of its bot analysis. But it does seem like, one way or another, Musk will be forced to go ahead with the $44 billion transaction, with Twitter’s past bot reporting methodology already accepted by the SEC, giving it legal grounding to argue that it’s acted in good faith, regardless of what Musk’s team finds.

The next steps then, according to Musk, would be securing debt financing and gaining Twitter shareholder approval, clearing the last hurdles for Musk to change the app’s name to ‘Telsla Social’, and add a million references to ‘420’ into the platforms various terms and conditions.

Because of the memes, because weed jokes are still funny to the richest man in the world – because he vacillates between inspired genius and a massive nerd who now gets to play out some fantasy of being cool.

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Or something. Who knows what goes on in Elon Musk’s head – which is also why most are hesitant to bet against him, as nobody knows if and how he might be able to fix Twitter, and whether this is a great investment or a massive disaster.

It seems like we may soon find out. Maybe. Who knows. Either way, the memes should be great.



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