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Social Commerce May Not be the Trend That Many Had Hoped – Which is Bad News for TikTok
Will social commerce ever catch on in western nations, and become the big money maker that it has in some Asian markets?
It’s a key question, particularly for TikTok, which isn’t able to directly monetize content through in-stream ads like other video apps. On the Chinese version of TikTok (Douyin), in-stream commerce has become its biggest income stream, with live commerce, in particular, generating big dollars for the app and its creative talent.
But thus far, users in the US and Europe haven’t shown much interest in buying on social apps, so much so that Meta has now opted to shut down its live commerce initiative on Facebook, as well as its affiliate product tagging option on Instagram.
Originally launched in June last year, Instagram’s native affiliate program currently enables eligible creators to discover new products that are available for purchase in the app, then share those products with their followers, via dedicated shopping tags. Creators then earn a commission for any subsequent purchases that they’re able to drive from their content.
It seems like a good supplementary income stream for IG creators – but again, like all in-stream shopping options, it hasn’t really caught on as Meta would have hoped.
As reported by Digiday:
“The program [has] struggled to gain adoption among creators, according to the creator industry executives. Specifically, the program involved too many steps for creators to get set up, and once a creator participated in the program, they were no longer able to tag products that were not included in the program in posts on Instagram.”
So it’s not as directly attributable as in-stream shopping, in general, not catching on, as there are other complications noted here. But you can bet that if Instagram was making money from it, it wouldn’t be shutting it down, which goes the same for live shopping on Facebook (live shopping on Instagram, however, will continue to be developed).
Which is bad for Meta, and its own commerce ambitions, which it had hoped would enable it to build on the pandemic-led eCommerce boom and establish both Facebook and Instagram as more all-encompassing discovery, recommendation and shopping platforms, in addition to their social and entertainment elements.
Indeed, Instagram chief Adam Mosseri recently addressed the lack of enthusiasm for in-stream shopping tools, explaining that:
“Many companies assumed that the swells and business they saw when the pandemic hit were an acceleration of existing trends that would have staying power. In practice it seems like almost all these trends reverted to pre-pandemic trend-lines.”
But again, this is even worse for TikTok, which is largely reliant on in-stream commerce becoming a thing in order to truly maximize its revenue potential, while also keeping its top talent aligned to the app.
TikTok too has had to scale back its eCommerce plans, with its initial push into live commerce seeing poor response in Europe, forcing it to delay its expanded rollout plans. That’s a big blow – because at the same time, more and more TikTok creators are sounding the alarm about the low payments that they’re increasingly seeing from the platform’s Creator Fund, its key, direct monetization pathway, which is subsequently seeing more and more of them spend more time creating for YouTube and IG instead, where they can make real money, without having to organize their own third-party affiliate deals.
That, eventually, could become a bigger threat to TikTok’s current dominance, while others have also noted that the app isn’t really designed to help creators build an audience, as such, as the broader content focus is more about uncovering the latest, trending posts, from anybody, as opposed to driving users to follow specific creators and accounts.
In-stream commerce is supposed to be the big thing that enables its top stars to make money directly from the app. But if users aren’t interested, and creators aren’t taking it up, as many Chinese stars have, that could be the start of a downward trend for the app, as more of them then spend their time building their audiences elsewhere.
It’s not a problem as yet. TikTok is still growing, and its addictive ‘For You’ feed continues to lure more users back to the app more often.
But what if its top stars begin posting exclusively to YouTube, and YouTube Shorts instead? What if YouTube offers them exclusive contracts, pulling their content out of the app – what if TikTok is no longer to hive of the latest, greatest trending content anymore, because people can make more money elsewhere?
It seems unlikely that TikTok’s going to lose enough momentum for that to be a real issue, with projections that it’ll soon hit 1.5 billion active users. But it does feel like an inflection point is coming, where TikTok will either need to provide another revenue pathway for its stars, or it’s usage will start to plateau, then decline slowly over time.
Maybe we’re too addicted to short-form video now for that to happen. But if the next viral, short-form trend originates from Instagram or YouTube, I’d be taking note.
It’s not going to be a sudden decline, but like Vine before it, if TikTok fails to take care of its top talent, they will start looking elsewhere.
SOCIAL
12 Proven Methods to Make Money Blogging in 2024
This 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.
Image Credit: DepositPhotos
SOCIAL
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.
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