SOCIAL
Twitter Opens Up Ticketed Spaces to Selected Users, Another Step in its Creator Monetization Push
After testing the option out with selected users over the past couple of months, Twitter has today announced that it’s opening up Ticketed Spaces to more users, providing another way for creators to make money from their on-platform efforts.
As explained by Twitter:
“We want to help people creating cool Spaces make $$$. Today, some Hosts will be able create Ticketed Spaces! We’re experimenting on iOS only for now but we hope to get it to everyone soon. Know it’s taking us a little time, but we want to get this right for you!”
Okay, that probably makes more contextual sense as a tweet, where the odd grammar doesn’t seem as out of place.
we want to help people creating cool Spaces make $$$. today, some Hosts will be able create Ticketed Spaces!
we’re experimenting on iOS only for now but we hope to get it to everyone soon. know it’s taking us a little time, but we want to get this right for you! https://t.co/xc68yWkOim
— Spaces (@TwitterSpaces) August 26, 2021
Well, it still does a bit – but the point is that some users will now be able to create ticketed Spaces, which is another consideration for audio broadcasters to factor into their strategic calculations.
Ticketed Spaces provides an additional avenue for creator monetization on the platform, which is a key element in Twitter’s broader strategy to boost usage, and attract more users.
Back in February, at its Analyst Day overview session, Twitter’s executives outlined their plan to reach 315 million monetizable daily active users on the platform over the next three years – which is an additional 109 million actives on top of what it’s seeing right now.
That’s particularly ambitious when you consider that over the past three years, Twitter has only added 83 million mDAU, and that covers the period in which former US President Donald Trump used Twitter as his key communications medium of choice, often updating US policy stances in public via tweet.
If Twitter couldn’t maximize its usage during the Trump Presidency, what chance does it have now, and what impetus will people have to download the app at a high enough rate to significantly boost its usage numbers?
Ideally, its creator monetization features will play a key role in this, by providing new incentive for popular creators to post more content to Twitter, and to interact with their large audiences more often in the app. If Twitter can get more exclusive updates, that will keep people coming back – but will these elements really attract new audiences, and will Twitter users actually pay for add-on elements like this?
You can see, for example, ticketed Spaces working if it was an interview session with a big-name star or industry identity, but how far does that extend? Would you pay to hear a Twitter ‘influencer’ speak in a Space?
Probably not, right? So there are some limits on how effective it will be in this respect, and while many people who’ve built a Twitter following are enthusiastic about the opportunity to make money from that audience, the truth is people won’t pay unless there’s a significant enough reason for them to do so.
Which is the challenge in all of Twitter’s new monetization offerings, from Newsletters to Super Follows and its own Twitter Blue add-on program. Most users won’t glean much benefit from these extra tools, and they won’t end up tweeting or coming back to the app more often as a result.
Maybe that doesn’t matter. Maybe, even if the majority of people can’t monetize their stuff, those who can will still be enough to drive more platform usage, and that will help to push Twitter’s user numbers forward.
Twitter’s user numbers did rise by 7 million between Q1 and Q2 this year, so it’s on the right trajectory – but then again, Twitter’s US audience actually declined in the period (-1m), which is where, you’d assume, most of these add-ons would be likely to see the most take-up (based on Average Revenue Per User stats).
Twitter will have to hope they catch on, because CEO Jack Dorsey is under significant pressure to improve the company’s results, and if he can’t lead the platform to that magic 315 mDAU number, or its subsequent revenue targets, that’ll likely be his last hurrah, and he’ll no longer remain the CEO of both Square and Twitter concurrently.
Which could lead to even more change in the app, and a whole new approach at the platform. It’s still early days, and as noted, Twitter is on track based on current numbers. But it’ll be interesting to see whether its monetization options stick, and which end up becoming more significant elements on the platform.
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.
SOCIAL
Instagram Tests Live-Stream Games to Enhance Engagement
Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.
As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.
That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.
Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.
That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.
Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.
Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.
We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.
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