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Reddit Adds ‘Predictions’ in Subreddit Polls to Enhance In-App Engagement

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Reddit has launched a new posting feature called ‘Predictions’, which will enable users to put their opinions on the line, and earn tokens based on their topic knowledge.

Reddit Predictions

As you can see in this example, Predictions will let users essentially bet tokens on their expected poll result, with moderators putting together the polls and options. Moderators can also build Predictions tournaments, with a range of polls for users to take part in, and bet more tokens on.

Som förklarat av Reddit:

"Available to mods in communities that have at least 10,000 members, this new feature gives redditors an even more unique way of participating in their communities, by removing the barrier of posting and making it easier than ever.”

Reddit Predictions

The tokens, it’s worth noting, are not buyable, nor redeemable for cash. Each user gets 1,000 tokens when joining a Predictions Tournament, which are free, but once you run out, you can no longer take part.

After the Predictions tournament is complete, users are allocated tokens based on the predictions they got right, and how much they bet, which then enables them to climb the relative community Predictions leaderboard, thereby boosting their reputation and presence in that particular subreddit.

Reddit Predictions

Given that it’s not for real money or prizes, it may seem like a less consequential, and therefore maybe less engaging option, but Reddit users have a long, ingrained history of competing on metrics which mean nothing outside of the app itself. As do, really, all social media users, because the vast majority of people don’t care about how many likes or followers each person has, yet we all still crave those engagement points anyway, and they do provide a level of peer credibility and presence.

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As such, you can imagine that Redditors will be keen to show off their knowledge via Predictions tournaments, and it could, as Reddit notes, go some way towards encouraging users to become more active in the app, as opposed to passively browsing through the latest memes in their feeds.

Which is a key focus – according to third-party analysis conducted in 2019, more than 98% of Reddit’s monthly active users don’t ever post or comment, with most choosing to simply browse and up/downvote content in the app.

That’s not necessarily a problem, as Reddit engagement is still steadily rising. But ideally, by getting more people involved, Reddit will be able to keep more people coming back more often, while also building on its use case, and enhancing its communities.

Then again, providing a gateway process for gambling is not the ideal pathway for such, so there are some questions about the validity of this approach. But the hope would be that through harmless, simple poll participation like this, that will encourage users into the Reddit process, and facilitate participation and activity.

And it’ll no doubt work. Again, Reddit users have been competing on Karma points for years, and if there’s one thing Redditors love more than anything else, it’s being right, and ensuring others are aware of such.

This facilitates both elements, which will see Redditors flock to it in droves.   

You can learn more about Reddit Predictions här.

Socialmediatoday.com

SOCIAL

Elon Musk beskriver nya bockmarkeringar i alternativa färger för att förtydliga verifieringen

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Elon Musk Outlines New, Alternate Color Checkmarks to Clarify Verification

Elon Musk has revealed more details of the coming revamp of Twitter’s $8 verification program, which was initially launched three weeks back, but then pulled from live production due to a raft of impersonations which caused significant confusion in the app.

Those impersonations also led to stock price dips, corporate apologies, misreporting – the $8 verification plan, while only available to some users, for a short amount of time, immediately caused significant issues for Twitter and it’s as partners.

So Elon and Co. took it back, in order to revise and re-shape the program in a more brand-safe, user-friendly way.

And now, Musk has revealed more details as to exactly how the updated $8 verification plan will work.

First, to limit the potential of misrepresentation of corporate and government accounts, Musk says that those profiles will now get a different colored checkmark, which will ensure that people can’t just buy a blue tick and then pretend to be Coca-Cola for example.

Enligt Mysk:

“Gold check for companies, gray check for government, blue for individuals (celebrity or not)”

App researcher Alessandro Paluzzi Postad dessa exempel of how these new ticks might look in the app.

It’s a sensible move, which will avoid similar incidents like this tweet from an $8 verified account, which tanked Eli Lilly’s stock price.

Eli Lilly tweet

The updated gold checkmark will ideally limit the potential for future users to do the same, because they won’t be able to buy the official gold tick – though there will be a period of adjustment and education on such for users.

The alternate checkmarks will also likely kill off Twitter’s new gray ‘Official’ tick, which looks pretty ridiculous.

Twitter Official checkmark

Of course, the new variations of checkmarks do also add the potential problem of another elusive marker that people will be trying to get. But we’ll cross that extra complication when we come to it.

Another concern with this approach is that it’ll require manual checking, as Twitter can’t know for sure that it’s a brand or government account without some kind of confirmation.
Initially, Twitter has thus far opted to avoid any kind of manual confirmation in this new process, due to the additional labor requirement, but now, Musk says that this will be integrated into the updated process:

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“All verified accounts will be manually authenticated before check activates. Painful, but necessary.”

How Musk and Co. do that with any level of efficiency, with 65% less staff, I don’t know, but it seems like they’re going to at least try to find a way to check each $8 subscriber before approving their blue tick.

Musk also noted last week that any change in user name will result in a blue tick being deactivated till Twitter approves the new name.

So, like, a lot of manual monitoring, with a lot less staff.

Also, for the traditional blue checkmarks, there’ll be no differentiation between those who’ve been given the marker, and those who’ve paid for it:

“All verified individual humans will have same blue check, as boundary of what constitutes ‘notable’ is otherwise too subjective.”

Which is true – there are a lot of blue checkmarks on random accounts, and it has been a confused system. But at the same time, there are also a lot of high-profile individuals who could be at risk of impersonation under this system – which, incidentally, is why the blue ticks were introduced in the first place (in 2009, an MLB star sued Twitter for allowing a scammer to use his likeness to dupe people in the app).

Det finns också detta:

“Individuals can have secondary tiny logo showing they belong to an org if verified as such by that org.”

So an additional qualifier for spokespeople, CEOs and journalists, as another measure to avoid impersonation.

The updated elements will certainly lessen the scope for scam activity, but still, they do also introduce a level of risk, and at the same time, the scheme itself is unlikely to work out as Musk hopes.

The revamp of Twitter’s verification program is Elon’s first grand plan to save the app (aside from cutting costs), by giving users access to one of the most in-demand in-app features – the elusive blue checkmark.

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Charging for verification could theoretically kill two birds with one stone, in verifying real humans (while making it cost-prohibitive to crate bot accounts) while also providing a direct revenue stream, thereby reducing the company’s reliance in ads. People want the blue tick, now they can get it, while Musk has also sought to amplify the cultural divide element, by presenting this as a way to even the field, and enable all users to get what only celebrities have thus far been able to access.

Initially, Musk was set to charge $20 per month for this service, but after an argument with the author of ‘Misery’, he reduced this to $8 per month.

In Musk’s view, this is a good deal, because who doesn’t have an extra $8 to spend?

He’s since sought to establish this as the norm, repeatedly telling his critics to ‘now pay $8’, as if it’s a forgone conclusion that people will indeed pay.

But they won’t, and history shows that there’s almost no chance that Musk’s paid verification scheme will actually work as intended.

Take, for example, Twitter blå, which provides Twitter users with a raft of additional features, which was initially available for $3 per month.

Twitter Blue never saw much take-up, peaking at 100k subscribers, with even the addition of tweet editing, the most requested feature in social media history, failing to shift the needle in any significant way.

Given this, it’s difficult to see Musk’s new, $8 verification getting the number of sign ups he’d need to achieve his aims for the option.

For context:

  • If Elon wants to get subscriptions to contribute 50% of Twitter’s revenue, as he’s previously stated, he’ll need 24.6 million users to sign on to pay $8 per month for a blue tick
  • If he wants to use this as a means to verify all the humans, so that only bot accounts are the ones that don’t have a blue tick, you’d think he’d be looking at upwards of 75% of Twitter’s user base, or around 178 million users paying each month
  • Twitter’s likely to actually lose around $6 per US user, per month, for each person that signs up to the new $8 Twitter Blue scheme, due to Musk’s plan to show Blue subscribers ‘half the ads’. Factoring in App Store fees from the monthly $8 payment, it could actually be a difficult balance from a revenue standpoint, with Twitter potentially even losing money on the deal, if it does end up cutting ad exposure
  • The majority of Twitter users are outside the US, where $8 per month could be a lot more cost-prohibitive. This is especially true in India, where most of Twitter’s growth has come from over the past three years. India now has 18.8m users making it Twitter’s third biggest audience market, and while Musk has also flagged variable pricing by region, even $1 per month could be too high for developing markets
     
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Essentially, there’s no precedent to suggest that enough users will sign up to Elon’s $8 per month checkmark plan to make it worthwhile for the company to run, as either a revenue or verification pathway. Just 0.41% of Snapchat users pay for Snapchat+, a fraction of LinkedIn users pony up for Premium, while Meta concluded long ago that charging users was no where near as lucrative as serving a bigger audience more ads.

These new measures do counter some of the issues that the initial version of Musk’s $8 verification program introduced, but then again, they could also avoid them entirely by revising the current blue check system, as opposed to simply letting people pay for the marker.

But regardless, Musk is determined to push ahead, and find out for himself either way

Musk says the updated $8 verification plan will launch on Friday next week (12/2).



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