SOCIAL
Twitter Eyes Subscriptions for Premium Features
Twitter is reportedly looking to add a new stream of revenue by offering premium features through a monthly subscription.
A report from Bloomberg states the motivation behind adding subscription-based features is to ease Twitter’s dependence on advertising.
This is something Twitter has wanted to do for years, Bloomberg says, as a majority of the company’s revenue comes from advertising.
The pandemic is accelerating Twitter’s plans to diversify its revenue streams, along with the realization that user growth in the US is starting to plateau.
With the US being Twitter’s most valuable market, the company cannot rely on growing revenue through the traditional method of adding new users.
People “familiar with the effort” tell Bloomberg that Twitter is actively exploring subscription offerings.
Twitter publicly explored this idea last year through surveys asking users what they’d like to see from a subscription service.
Ideas considered at the time were an undo send feature, custom colors, longer video uploads, special badges, auto responses, and others.
An option to pay Twitter to see fewer ads was discussed as well, but nothing came of these proposed premium offerings.
As detailed in Bloomberg’s report, all premium features Twitter was considering are on the table along with new ideas that could result in a share of revenue going to content creators.
Here’s more about the potential subscription-based features Twitter is reportedly discussing internally.
What Would Twitter Offer in a Subscription?
A subscription fee would grant users access to features not currently available.
To be sure, everything users can do with Twitter right now will remain free. With one exception.
Tweetdeck
Twitter is considering putting Tweetdeck behind a subscription paywall. That means having to pay in order to use it at all, with or without any additional features.
Tweetdeck is currently free, but it’s by no means necessary in order to access Twitter. It’s an additional tool designed for power users.
Twitter has thought of charging for Tweetdeck before but never went through with it. Although the idea of paying for an advanced tool to utilize an otherwise free service is well accepted in digital marketing.
There are many premium third-party tools on the market that allow social media managers to use Twitter, Facebook, Instagram, and other social networks more efficiently. So it wouldn’t be unusual for Twitter to start charging for Tweetdeck.
Analytics
Advanced analytics is another premium feature Twitter could potentially offer through a subscription.
Users currently have access to basic analytics such as how many followers they gained in a month and how many impressions their tweets get.
An advanced set of analytics could include demographics, times that an audience is most active, and more granular data compared to what’s available now.
Exclusive content
Twitter could potentially offer exclusive content in exchange for a fee. The company recently acquired Revue, a newsletter startup, which could be an indication of Twitter’s plans to move in this direction.
Another idea being discussed is “tipping” users in exchange for content that’s not available to everyone. Twitter would get a cut, but this could allow users to make money from Twitter for the first time.
From what I gather there’s been no discussion of adding an edit button as a premium feature. Although if Twitter ever needs an immediate surge of revenue, charging users a fee to edit tweets would be one way to get it.
Source: Bloomberg
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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