Social Media 2.0 🚨: Meta's Twitter Competitor Could Change the Game Forever.
Framework to choose a demand generation channel, decentralized social media, bounce rate benchmarks and more.
Hello Everyone,
I hope you are all having a fantastic week.
I am writing this from God’s own country - Kerala, relying more on discipline than motivation to ship this week’s newsletter.🏝️ 🍹🕶️
Here’s what we will cover in this edition:
A framework to choose the right demand generation channel
Meta’s new Twitter alternative
Reddit’s unconventional solution for the cold start problem
Website bounce rates are no laughing matter (meme)
And much more.
Before we start, my usual request - I love bringing Marketing Dojo to you all. Thank you for all the encouragement. I strive to make this a valuable addition to your busy inboxes. If you believe someone will benefit from this newsletter, please share it along.
With that, let’s dive right in.
Maximizing ROI: Selecting the Right Demand Generation Channel for Your Business.
Outbound, inbound, product-led growth, ABM etc. - There are many ways to create and capture demand. This must-read, must-save article by Mark Roberge provides a framework that will save you years of effort and a bagful of money.
Social Media Ver 2.0 is distributed.
The platformer reported that Meta is working on a Twitter competitor.🐦
The project, codenamed P92, is a distributed social network for sharing text messages and will be compatible with Mastodon.
With a decentralized network, multiple distributed networks can exist, and each instance can create its own rules, making content moderation a shared responsibility.
Users can join a sub-network based on their preferences.
Remember when I shared my struggles with signing up for a Mastodon instance in January? Meta's project will enable logging in using the existing IG credentials - removing a key customer pain point.
Last week, Medium opened access to its Mastodon instance for premium customers.
Twitter’s founder, Jack Dorsey’s Bluesky, opened up for private Beta. Blue Sky is a decentralized social network protocol.
And now Meta's new project might be the tipping point for decentralized social networks.
I'm excited to see how the next wave of social media evolves. How about you?
From Trends to Insights: Leverage TikTok's New Keyword Tool as a Swipe File for Your Brand
Imagine a swipe file of the best-performing video ads! 🎥🔥📈
TikTok just added that and some more with its nifty Keyword insights tool.
Thru the tool, you can
🔎Unearth trending keywords
👀View the best-performing ads associated with trending keywords
📊 Identify the common elements of the best-performing ads
Whether you serve ads on TikTok or you don't, this is an excellent tool for competitor & customer research. Give it a go!
Meme Time: Bouncing Back from High Bounce Rates
Website bounce rate is the percentage of visitors who land on a page on a website and then leave without clicking on anything else.
Siege media’s research shows a reasonable bounce rate of around 50% in 2023. A good bounce rate for a blog is 70%, with an average of 80%!
This week’s meme is dedicated to more than half of the website traffic on our websites.
The Siege media study also has some handy benchmarks to check if your website bounce rate is good, bad or ugly.
Surprising finds: Fake accounts solved Reddit’s cold start problem
The early days of a social media platform feel like a ghost town.
The cold start problem is a common challenge for networked products - the product is not useful until enough users are on the platform.
This creates a chicken-and-egg situation where users won't join until there are other users and vice versa. I learnt about Reddit’s co-founder’s sneaky strategy to get the ball rolling - Fake accounts.
Back in 2005, Reddit was a fledgling platform with limited activity. To make it appear more active, co-founders Steve Huffman and Alexis Ohanian created numerous fake accounts and used them to upvote posts, leave comments, and engage with other users.
This created the illusion of a vibrant community, attracting more users to the platform.
Short Stuff:
TikTok paywalls content. https://newsroom.tiktok.com/en-us/introducing-a-new-way-for-creators-to-share-premium-content-with-series
Royal Caribbean launched its virtual cruise liner on Fortnite a year before the real one starts sailing (Catch them while they are young).
More AI tools for marketers -Hubspot launched its content writing assistant & chat tool. (CRM gets the AI advantage).
And it’s a wrap for the week. I hope this issue was worth your time and attention. I appreciate all of you.
Signing off,
Garima
P.S.: I always avoided everything Brene Brown successfully till last week.
In under two hours into her Netflix documentary, Brene Brown made me laugh, cry and think about the importance of vulnerability.
She delivers thought-provoking ideas one after another in this incredible Netflix special—a must-watch.