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Hilda Baci and the Hunt for Consumer Engagement

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On social media, employees of any company saddled with the responsibility of engaging with customers and potential customers, if not on a daily basis, at least once a week, have the mandate of hunting for new followers and also ensuring strong retention of the existing ones. In the course of carrying out this strategic responsibility towards the attainment of the overall corporate goals of making sustainable revenue and profits, the employees must hunt using various strategies. This has been one of the dominant reasons that they do scout for trending events in physical settings and on digital platforms that connect with their brands and products directly or indirectly.

To make their work easier, social media platforms, through their software engineers and developers, have developed different technical means of mass-producing text and non-text contents produced by brand managers, marketing communications professionals, and other positions related to consumer engagement or corporate affairs. Following these narrations, our analyst examines over 1,000 tweets about Hilda Baci’s recent global achievement of being the longest cook with the intention of critically finding branding and marketing elements various companies and individuals deployed for marketing purposes.

Brand Association: By mentioning Hilda Baci’s name in the tweets, the users are associating her with various topics and events. Our analysis suggests that this association can create brand recognition and awareness for Hilda Baci, potentially increasing her visibility and reputation. At the same time having positive ripple effects on companies’ and individuals’ businesses that employed her name.

Viral Content and Hashtags: The use of hashtags like #PrayForBnxn, #BBTitians, and #GuinnessWorldRecord aims to capitalise on existing trends and conversations on social media. By including these popular hashtags, the tweets have a higher chance of being discovered and shared, potentially increasing their reach and engagement.

Influencer Marketing: Our analysis indicates that some of the users who mention Hilda Baci and other unrelated topics in their tweets are influencers or individuals with a significant following. By mentioning her name alongside other popular figures or topics, they may be leveraging their influence to draw attention and engagement from their followers, potentially benefiting their personal brand or reputation.

Attention and Engagement: From a strategic marketing perspective, including a well-known or trending name in tweets can attract attention and increase engagement. By mentioning Hilda Baci’s name, the users may aim to capture the interest of a broader audience who are familiar with her, even if the tweet’s content is unrelated.

Expanding Reach: This aligns with political activities and educational institutions that have the intention of spreading specific ideologies. In this context, our analysis reveals that associating Hilda Baci’s name with unrelated topics or events is a strategy to expand the reach and visibility of the topics in the tweets. Users may anticipate that followers or individuals interested in those unrelated topics will come across the tweets due to their association with Hilda Baci’s name.

Serendipitous Connection: In some cases, the inclusion of Hilda Baci’s name alongside unrelated topics was a coincidence and/or a random connection made by the users. They mentioned her name to add a familiar or recognisable element to their tweets, despite having unrelated topics.

Montana Becomes the First US State to Ban TikTok

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The brand is growing

Montana has become the first US state to ban TikTok, after Governor Greg Gianforte signed a bill on Wednesday to halt the operation of the short-form video app.

The ban comes amid growing calls for the Chinese-owned social media platform to be banned across the United States due to concern that it could aid Chinese espionage.

Under the legislation, which Gianforte said will further “our shared priority to protect Montanans from Chinese Communist Party surveillance,” mobile application stores are prohibited from offering TikTok within Montana.

The legislation also prohibited the use of all social media applications that collect and provide personal information or data to foreign adversaries on government-issued devices.

Gianforte said TikTok could face fines if they violate the ban which takes effect Jan. 1, 2024. The fines, which would not apply to users, include a $10,000 penalty per day for each time someone “is offered the ability” to access the social media platform or download the app.

TikTok, owned by Chinese tech giant, ByteDance, has been under intense pressure from Western governments as concern rises that the platform could be used as a conduit pipe by the Chinese Communist Party to harvest personal data of users.

Though the company has repeatedly denied sharing data with the Chinese government, stating that if Beijing asked – it will not do it, Western governments have been skeptical. Since last year, several governments have banned the use of TikTok on official devices.

US lawmakers are working on legislation that will empower President Biden to ban TikTok and other apps perceived as a threat to national security.

TikTok said in a statement that the Montana bill “infringes on the First Amendment rights of the people of Montana by unlawfully banning TikTok,” adding that they “will defend the rights of our users inside and outside of Montana.”

Although Montana has a population of just over 1 million people, the legislation could set off a precedent that other US states, who have already banned the use of TikTok in government-issued devices, could follow.

However, the ban is likely going to set off a legal showdown that will test the First Amendment. A TikTok spokeswoman said in a statement that “Gianforte signed a bill that infringes on the First Amendment rights of the people of Montana by unlawfully banning TikTok.”

The spokeswoman didn’t say if the company plans to challenge the legislation in court, but TikTok had done so in a similar situation in the past. In 2020, when former President Donald Trump attempted to ban its operation in the US using executive order, a judge in Pennsylvania blocked the order after the company went to court.

American Civil Liberty Union (ACLU)’s local policy director, Keegan Medrando, said in a statement that Montana’s legislation infringes free speech.

“With this ban, Governor Gianforte and the Montana legislature have trampled on the free speech of hundreds of thousands of Montanans who use the app to express themselves, gather information, and run their small business, in the name of anti-Chinese sentiment,” he said.

CMC Data Shows Women lead Men on Successful Stock Market Trades

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New data from a leading trading platform has revealed that women made a considerably higher percentage of successful stock market trades compared to men in the first quarter of 2023.

The quarterly data report from CMC Markets has revealed fascinating insights into the trading activities of its users, including trading success based on gender and location, and which stocks were the most popular among the public.

The figures reveal that between 1 January and 31 March 2023, out of all users who ended up making a profit in the quarter, 70% of trades made by women were successful, compared to 62% of trades made by men.

The data also reveals interesting regional differences, with traders in Wales recording the highest percentage of successful trades during the quarter. In total, people in Wales had 69% successful trades, compared to 67% for people in England, 66% for people in Northern Ireland, and 62% for people in Scotland.

The study also reveals the most popular shares on the CMC Platform, with Tesla Inc topping the list overall, and for both male and female traders. Apple Inc was the second most popular overall and for men, whereas women’s second most popular stock was Alibaba. In third place overall and for men is Amazon.com Inc, while for women it’s Apple Inc.

Overall, the top ten most popular stocks are broadly similar within each category – the only differences in male and female stock preferences come in their ninth and tenth most popular stocks. Men were more interested in Coinbase Global Inc and Credit Suisse, whereas women showed a preference for semiconductor company AMD, and electric car manufacturer NIO Inc.

Commenting on the figures, Michael Hewson, Chief Market Analyst at CMC Markets, said:

What’s interesting here is that we’re not seeing a lot of variation across the demographic groups. It’s mostly the same ten companies in a slightly different order with Tesla number one throughout. It has always been this way – human beings are herd-like creatures.

The top ten is totally dominated by tech companies. Everyone thinks that the problems humans face will be solved by tech, and they want a part of that.

Over the last 15 years we’ve seen these tech stocks rise consistently, but the last year has seen the value of a lot of the big tech companies fall. I think that was an overdue correction. A problem with the herd mentality can be the creation of bubbles.

So many people can pile into the same stock that it becomes overvalued, and if everyone gets out at the same time that can cause problems. It’s like being on a small boat. If everyone moves to one side at once, it’ll capsize.”

The data also revealed the day during the quarter that most daily trades were made, with 13 March topping the list. Silicon Valley Bank’s (SVB) UK arm was sold to HSBC for £1 on that day as around 260,000 trades were made – double the daily average on the platform.

The second biggest day for daily trades was just a few days before on 10 March, when US regulators took control of SVB and shut it down. The third biggest day also came in the same month, when on 15 March worries of a bank run spread, and Credit Suisse announced it would borrow up to 50 billion Swiss francs from the Swiss National Bank.

Michael Hewson, Chief Market Analyst at CMC Markets commented: “At the end of every quarter there’s a little bit of a rebalance. People have a look back at how their portfolios have done, and this quarter also marks the end of the tax year, which also increases end of quarter flows. But even so this March was a particularly busy month.

“When things like this happen people start thinking back to 2008, and no one wants to be caught out again like that. For a lot of people, 15 years ago still feels fairly recent. But one of the things about the last 15 years is that markets have generally tended to go up. So there’s also a whole new generation of traders who have never seen a bear market. And they’ve been conditioned to buy the dip because central banks have always been there – there’s been low rates, plenty of liquidity. Inflation has been very benign for a long time.”

Now we have an inflation problem and central banks want to get on top of that. At the end of March they put rates up again and they will continue to do that until something else breaks. When you’ve been conditioned to low interest rates, it’s very difficult to shake out of that mindset. But as we go through the rest of this decade, we will find that there will be a slow adjustment to that new reality.

Avoiding The AI Trap of Building for NONE

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Good People,  if the soup is watery, the elders will dent the garri before dipping it into it. The wisdom of that Igbo proverb is clear: if every business idea has AI in it, a simple way to evaluate the thesis and value proposition of ideas is to “abstract” out the AI component.  In the last two weeks, more and more business plans we’ve received at Tekedia Capital have “AI” as a component.

Amazing, we admire the energy. But AI will not obfuscate inherent challenges in electricity and data systems in many African industries.  Tell us what you plan to do before “AI will magically…”

At Tekedia Capital, we do not fund technologies just for the sake of having fancy things. We fund products which solve customer frictions. Sure, technologies are key components to create those products, but we are unalloyed and untethered to technology; our commitment is to products!

In our category-king equations, there is no tech at the top level:

Great Company = Awesome Product + Superior Execution

Innovation = Invention + Commercialization

Products and innovations will win empires; let’s know what you are building. Interestingly, unless you have the data, any talk of AI in my village in Abia State is a distraction. Yes, where is the data?

To close, let me drop a famous Igbo proverb:  the free range chicken  will always look up when drinking water because what kills it always comes from the sky (the hawk).  Many entrepreneurs have failed because they’re merely building technologies instead of solving problems which customers have! Yes, they lose focus, distracted, only to be consumed by market forces (the hawks in markets)!

ChatGPT’s success has led to a mushrooming cottage industry of AI startups. But even as some investors charge ahead to capitalize on the AI gold rush, others are starting to hold back. The sheer speed and scale with which the industry is progressing daily makes it hard to place sound bets, they say. Some also caution against what they say has become a freewheeling ecosystem, with some firms putting their money behind companies without so much as a business plan, and valuations reaching tens of millions of dollars. Read more here.

Comment on Feed

Comment 1: To avoid falling into the AI Trap of Building for NONE, businesses should begin by gaining a clear understanding of the customer problem they aim to solve. Once this is established, they can explore how AI can be utilized to address the issue effectively. However, it is crucial for businesses to remain realistic concerning the capabilities of AI, which is a powerful tool but not a one-size-fits-all solution. Moreover, AI is a complex technology that requires time and effort to develop and deploy AI-powered products or services. Therefore, patience is vital, and businesses must allow ample time for AI to mature.

How Hilda Baci Becomes an ANT

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It is no longer news that Hilda Effiong Bassey has surpassed India’s Rewa Lata Tondon, who cooked meals for 87 hours and 45 minutes, with her “longest cooking marathon by an individual” of over 100 hours. At least on different media platforms and in physical settings across the world, people have celebrated her and are still appreciating her efforts. But according to our analyst, many people have not heard of how Nigerian netizens on Twitter have turned her into an ANT, which they have been cliquing with their sting messages with the intention of capturing socioeconomic and political benefits from.

In this piece, our analyst uses actor-network theory (ANT), which proposes that both human and non-human actors form networks that shape social reality, to critically assess several tweets that used her name to achieve the stated benefits. According to our analysis, a number of the tweets had topics that were not connected with the cooking competition. For instance, some businesses leveraged her competition for the promotion of their goods and services, while some tweets were embedded with various political issues as well as ideologies. While businesses seem to use her competition to construct expected value identities for their brands, our analyst discovered that netizens with an interest in expressing political views and their ideological orientations directly and indirectly constructed positive identities for the political actors they supported and negative identities for the actors they did not.

Hybrid Identity Construction

ANT suggests that actors in a network are interconnected and mutually construct each other’s identities. In the context of the tweets, the unrelated topics and the people and organisations mentioned within them suggest a contribution to the hybrid identity construction of those actors. For example, Bola Ahmed Tinubu is mentioned alongside Hilda Baci’s name in some tweets, creating a hybrid identity for both. This suggests that Senator Bola Ahmed Tinubu is in support of Hilda Baci’s achievement, and Hilda Baci is seen as connected to Tinubu’s political sphere. This hybrid identity construction is formed through the network of associations created within the tweets.

Non-Human Actor Influence

ANT emphasises the agency of non-human actors in shaping social reality. In the tweets, non-human actors include hashtags, emojis, and pictures that were used to construct the identities of the people and organisations mentioned. For instance, the users who employed #PrayForBnxn or #BBTitians aimed at shaping the identities of the individuals associated with the hashtags. The inclusion of these non-human actors aligns the mentioned individuals with specific communities or interests, potentially influencing how they are perceived and constructing their identity within those contexts.

Translation and Mediation

According to ANT, actors translate and mediate between different elements within a network, influencing the meanings and relationships between them. In the context of the tweets, the users serve as mediators by linking unrelated topics and individuals through their mentions. By mentioning Hilda Baci alongside unrelated topics or individuals, the users engage in a process of translation. They create connections and associations between these elements, which can potentially influence how people perceive the identities of the mentioned individuals and organisations. This translation and mediation shape the narrative and context in which these actors are positioned.

Our analyst notes that the use of ANT provides an opportunity to know how Nigerians through Twitter have constructed identities that enliven brands and demonstrate how the medium could be used for reenacting socio-political issues for collective deliberation while celebrating ‘a collective achievement.’