It’s time to diversify from Facebook products and traditional social media apps that make money from content or use it as a piece of business. Last week’s Facebook power outage acts as yet another reminder. It doesn’t matter where you are. If you rely on them for income, it’s an unpaid holiday.
I’m not sure exactly why Facebook’s social media platform went dark for about six hours (glory) last week, but millionaire Mark Zuckerberg, as well as people around the world, have lost money.
According to travel and lifestyle blogger Judy Morris quoted by India Express, small online businesses and resellers were the most affected in India.
Neha Puri, CEO and founder of influencer marketing firm Vavo Digital, said companies and social media influencers are overly dependent on a single social media platform.
“When a store is closed for a certain period of time, the store owner suffers the same loss as when a major social media platform goes down,” said Puri. “SMEs have lost potential customers.”
Instagram is more famous for its influencers. The risks associated with relying on a single system are high-risk businesses that can monetize you or significantly reduce payments at the moment of notification.
“We’ve always realized that keeping your trade name and brand on an external social media platform is a risk, especially since the collapse of Vine,” said Victoria MacGrath, fashion influencer at In The Frow, over a year ago. Warned. “Establishing a livelihood, income and brand based on a platform you don’t own is a big bet.”
Instagram has at least 500 million active story users. 60% of them are looking for and discovering new products on Instagram. Brand collaboration grew 44% between 2018 and 2019, according to Vuelio, a data solutions company that serves the public relations and marketing industry.
Instagram’s “Creator” account is where short content creators act as influencers. This is a big business for some people around the world. Influencer access to creator accounts and Instagram checkouts (in short, Instagram’s e-commerce solution) aims to keep creators happy everywhere.
In 2019, even before Instagram went out of power, influencer marketing expert Scott Guthrie said that as Facebook’s growth leveled off, it was forced to look elsewhere for advertising revenue to support its business. Was saying. “Eyes are now focusing head-on on Instagram. The photo-sharing app contributed less than $ 5 billion to Facebook in 2017. Revenues almost doubled in 2018. eMarketer Predicts revenues to exceed $ 25 billion in 2021, “he says.
“Creator accounts and branded content ads seem to be community-first on the surface, but it’s certainly more about cash than community. The next step is to kill organic reach,” Guthrie said. Warns. “Like Instagram parent Facebook used a brand page. If brand content ads currently offer brands the opportunity to push influencer content to the page, what if that opportunity becomes mandatory? What if the only way to reach your audience is to pay to boost your content? “
This sounds like an evil genius-level business plan. And there should be good reason why people who make money from these platforms need to diversify.
Melanie Mohr, Founder and CEO of BULLZ in Singapore, said: “One reason could be due to a particular content restriction, and the other could be due to a more innovative creator tool or content approach. But with the driving force for most creators. The reason is that it will be a better monetization model. “
Regular content creators provide the most valuable social media platforms.
Thousands of creators around the world rely on Instagram and YouTube, whether they have a talk show equivalent on YouTube and make money that way, or sell fashion sense on Instagram. I’m worried.
“It’s impossible to monetize from these platforms alone. To make a living, you need to be aware of branding and sponsored content,” says Mohr.
BULLZ is an app that allows content creators to diversify into crypto, but is aimed at true crypto gearheads to talk about crypto and new crypto-related startups in a short video. Users share their own or others’ videos and talk about cryptography and blockchain. BULLZ is located in the Promote-To-Earn space, where users can find trending projects, discuss with other crypto enthusiasts and experts, and get crypto rewards for their shares.
“YouTube creators who are familiar with some cryptography call this the new TikTok for cryptography,” says Mohr. “More platforms are lined up to integrate the protocol.” They work with two I’ve never heard of. One is called YEAY. Another protocol is WOM Authenticator. For promotion of brand content. BULLZ pays with WOM tokens.
Rofkin is arguably a pioneering social media platform with crypto components. Rofkin content creators earn with RAE tokens. Rofkin is for long content creators.
Another important alternative to YouTube is the local platform. It pays in fiat. Greg Gutfield is a local.And Scott Adams has some of his shows locally to diversify away from YouTube and reduce the risk of monetization by going against Google
Twitter this summer
“We want everyone on Twitter to have access to the means to get paid,” said Esther Crawford, staff product manager. Posted on September 23rd.
People can chip Bitcoin using Strike, a payment application built on the Bitcoin Lightning Network that allows Twitter users to send and receive Bitcoin. Strikes are very limited. Only El Salvador and the United States have it, not all 50 states. (Not in Hawaii and New York). People in the target market will need to sign up for a Strike account and add their Strike username in order to receive Bitcoin tips via Lightning Network. Twitter users will also need a Bitcoin Lightning Wallet to send tips to someone’s Strike account. This can be more of a headache than it is worth.
Twitter’s expansion is another example of crypto being an alternative to creators’ payments.
And BULLZ’s expansion is a crypto-centric solution for those who are trying to diversify their revenue streams and escape from mainstream platforms. Maybe if they’re crazy lucky, they’ll be cramping crypto video. However, if you are influencing fashion, we encourage you to join a fashion NFT. That’s probably the case. (Oh God, I …