SOCIAL
TikTok’s Latest Ad Targeting Provisions Reflect Increasing Revenue Pressure on the App
This has certainly raised some eyebrows among social media and privacy analysts.
Today, TikTok has started showing users in Europe, the UK and Switzerland new, in-app notifications informing them of changes to its data collection policies.
As you can see in these examples, shared by social media expert Matt Navarra, TikTok is changing the way it uses people’s data within its ad targeting systems.
More specifically, TikTok explains that:
“If you are 18 or over and in the EEA, the UK, or Switzerland, TikTok is making a legal change to how it will use your on-TikTok activity to personalize your ads. Under applicable data protection law, companies like TikTok must have a legal basis for processing your information. Historically, TikTok asked you for your “consent” to use your on-TikTok activity and off-TikTok activity to serve you personalized ads. From 13 July 2022 TikTok will rely on its “legitimate interests” as its legal basis to use on-TikTok activity to personalize the ads of users who are 18 or over.”
Note the inverted commas around ‘consent’. Seems like a red flag in itself.
Essentially, TikTok’s saying that if you have not consented to personalized ads in the past, which TikTok has to allow as part of the EU’s data privacy provisions, you’ll soon get a form of personalized ads anyway, based on your in-app activity. TikTok appears to be looking to use a technicality to maximize the performance of its ads, even among users who have opted out of personalized targeting.
Which is not surprising, I guess, but it does point to the increasing pressure within TikTok to start making real money from the app – which could result in more ads being shown to users over time.
While Twitter remains in ownership limbo, and Meta is diverting more and more of its resources into its metaverse push, it seems, on the face of it, like TikTok is currently the only platform on a clear upward trajectory, with usage counts rising, more ad dollars coming in, and new programs designed to capitalize on the rise of eCommerce and the Creator Economy.
TikTok, at least right now, is the clear winner in the social media sphere are present, right?
Well, maybe not as much as you’d think.
In recent months, TikTok owner ByteDance has faced a range of new challenges, including, most notably, a change in the regulations relating to data and algorithm usage in China.
As per The South China Morning Post:
“As with many Chinese tech companies, ByteDance’s prospects for profit growth in the domestic market remain clouded by tightened regulations. The central government has become more intrusive in regulating short video content. A new law governing the use of recommendation algorithms went into effect in March.”
CCP regulators, increasingly frustrated at their inability to reign in content within these apps, have sought to exert more control, which has extended to all of ByteDance’s key income sources.
That increased regulatory scrutiny has already wiped $100 billion from the value of ByteDance, forcing the company to consider sell-offs, staff cuts and more as it works to right the ship.
That pressure has also extended to TikTok, which, aside from these new data usage changes, has also been looking to enforce more China-centric style policies in terms of what’s expected of employees, and the content that it allows in the app.
ByteDance executive Joshua Ma, who had been working with TikTok’s UK eCommerce team, was recently forced to stand down after trying to impose tough working conditions on staff, in order to hasten its expansion.
As reported by The Financial Times:
“The launch of TikTok’s livestream shopping feature in the UK triggered a staff exodus from the London ecommerce team. Some staff complained of an aggressive company culture, with unrealistic targets and expectations that run counter to British working practices. Staff said they were expected to frequently work more than 12 hours a day, starting early to accommodate calls with China and ending late as livestreams were more successful in the evening, with overtime celebrated in internal communications. Some members of the ecommerce team were removed from client accounts after going on annual leave.”
Ma has also stated that he ‘doesn’t believe’ in maternity leave, which was also reported by The Financial Times, and which, incidentally, led to another issue on the content side, with TikTok then reportedly considering a move to censor keywords such as ‘Financial Times’, ‘Joshua Ma’, ‘maternity’, and ‘toxic’ on the platform in order to weaken the Financial Times report’s impact.
TikTok says that this ban was never implemented, but it highlights a fundamental concern within TikTok’s approach, in that a first instinct of at least some execs was to seek to silence criticism and dissent.
And you’d have to assume that at least some of this extends from the pressure being exerted on the company’s Beijing HQ.
How this new data usage policy relates is unclear, but with TikTok still only contributing around a third of ByteDance’s overall revenue, despite its global reach, you can imagine that ByteDance will be increasingly keen to squeeze more cash out of the app – and sooner, rather than later.
Which remains a challenge. ByteDance has seen big revenue success with the Chinese version of TikTok (called ‘Douyin’) by implementing eCommerce integrations, primarily driven by the take up of live-stream commerce in China.
According to ByteDance, over 20 million individual content creators and live-streaming hosts are now generating income from its apps, with total live shopping revenues in the Chinese market set to reach $423 billion this year. That’s more than the entire GDP of Ireland.
But the CCP’s crackdown is also impacting this element, with a bigger push to catch out influencers that haven’t been fulfilling their tax burden, which has already impacted many local streaming stars.
Add to this the fact that more brands are reconsidering their relationships with streamers (due to influencers demanding ever-more attractive deals), and the signs indicate that a reckoning is coming for the booming sector, which will again impact ByteDance.
It’s also not great for its push on the same with TikTok. Despite its popularity, TikTok is still developing a more equitable business process, especially in regards to ensuring its top stars get paid. TikTok’s expected to bring in around $11.6 billion in ad revenue this year, but it still doesn’t have an effective means to redistribute that to creators, which could, eventually, see many of them drift off to YouTube and Instagram instead.
TikTok is working on this, as noted, but a key focus, as it has been in China, is live-stream commerce, which it’s hoping will become a golden goose in western regions as well. But it hasn’t yet, and many Chinese trends haven’t translated to other markets in the past – and it could well be that TikTok creators just want to get paid for making videos, which they can’t do on TikTok, but they can via YouTube’s Partner Program.
Could that see more creators losing interest in the platform, and taking their audiences with them? That’s what eventually killed off Vine, and it remains a genuine possibility for TikTok as well. Which is why TikTok is desperate to get back into India, where it’s still banned, while it’s also looking to implement more ad options and tools to maximize its revenue intake while it can.
Essentially, when viewed on a broader scope, you can see how the increasing pressure on ByteDance is weighing on TikTok as well, and will likely force it to push forward with various revenue tools, including more ads, which poses a big risk for its growth potential.
That’s not to say TikTok’s on the way out just yet. Far from it, but there are signs there, and there are concerns that you may not recognize when looking at its growth numbers in isolation.
Maybe there are ways around it – maybe TikTok could get sold off and operate as a separate entity, or maybe its commerce options will be a hit and facilitate bigger business opportunities for the app.
Either way, you can expect to see more changes in the app as the pressure mounts on its parent business.
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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