Depending on your business, have the right social media strategy. If your mission involves selling professional services and intellectual things, choose the right social media, preferably LinkedIn. Increasingly, the most important feature in digital product business is having many users. And if you can get those users largely free, amazing things will happen. How can you get 100 visitors from LinkedIn to your website in a week? If you do that, you have saved $500+.

LinkedIn is a place where you can convert users to paying customers when people come to your site. But getting those users to come without spending truckloads of $dollar could be important to your bottomline. If your business is about entertainment and the product is what you post, Facebook/YouTube wins. But if your post is to take your customers to the product, it changes the equation.

I have run many matrices, and can conclude that, in our business, 10 users in LinkedIn are far more valuable than 100 users in Twitter and 50 in Facebook, on our ability to convert visitors to paying customers. I left Twitter because it was a waste of time; many shows, no action.  I am also hoping that Facebook improves to avoid me leaving it. But LinkedIn outperforms as when that visitor arrives, there is a chance the digits will hit the bank. That is why all our materials (size, colour, etc) are designed with a LinkedIn-first strategy.

What is your social media playbook? You need to look at data to know where to invest your efforts. Facebook could be better if your post is the product (eg entertainment). Twitter is hopelessly non-monetizable from a user perspective, from my experience.

Remember: the most important feature for that online product is that you have users! That is what they call network-effect phenomenon where a positive continuum of wins triggers a virtuoso circle of many good things resulting in more good things. 

The key is finding that first win – and once you do, other wins will come. In the Igbo Nation, it takes the killing of a leopard (just one to be called “ogbuagu”) to be called a “killer of leopards”. Kill that first “leopard” with a great social media playbook. #strategy

Comment on Feed

Comment 1: Cheap products (<20$ ) sell best on Facebook/Insta. Commodities sell best there. As soon as a product is differentiated, one must change a platform and LI works better .

My Response: I tend to think that it is not the price. Female wig, especially the Brazilian type, does well on Facebook and Instagram. That can cost $200 or more.  I think it is the audience and the state of mind of people. It may be strange trying that product here. I still think that Jumia will be doing better without Facebook; many things are sold there. But they are not intellectual or knowledge in nature; LinkedIn wins that category.

[on different platforms not working] That is why all of them exist -serves different customers. But it seems you are a user and not a merchant (my target for this post). You can learn from all the platforms. My post was for those who have products to sell and how to execute a winning strategy.

Comment 2: I would be surprised if your data shows otherwise, Facebook is just a large pool of comedy lovers. Someone on my contact list asked me to help her business via data analytics, she wants to be able to see the effect of her social media marketing. I gave her metrics to track, surprisingly, even cake baking had most converts from Instagram (61% in value) and (83% in count) Facebook ranked below Twitter. I told her to stop paying for ads, yet Facebook gets the highest likes and comments 

Plot source: brandwatch

One poll and many things could be on the line: “On Sunday, Twitter CEO Elon Musk conducted a poll asking Twitter users if they want him to continue running the social media platform. Majority of responders (57.5%) voted for him to step down.” Since Elon Musk began the voyage and ended up bailing out Twitter shareholders with $44 billion, his popular company, Tesla, has lost close to $700 billion on the market cap. 

Elon Musk should step down as CEO of the social media platform, according to 57.5% of the 17 million voters who responded to his poll. Musk warned users to “be careful what you wish,” but he has not stepped aside despite pledging to abide by the results. Meanwhile, Twitter users will no longer be able to link to rival social media websites — namely Facebook, Instagram, Mastodon and several others — after the company said it didn’t want to allow “free promotion” of specific sites. Twitter will allow “paid advertisement/promotion” from the banned platforms, as well as some cross-posting. (LinkedIn News)

In other words, financially, this excursion has not worked well. But do not be deceived; yes, for Musk, he is having a moment and playing with the toys. The other toy SpaceX added $50 billion in valuation within two months in a private placement. 

Consumer business requires an uncommon skill and the owners of Google are great examples on how to do just that in America: you build them and “hide”. Once that happens, no one will come after you because any attack goes to the workers and not the founders. 

How many Americans know the founders of Google? They ran that business for years but they made sure there were no vectors which could be attached easily with political activism and legions of secondary trolls. Unlike Meta (yes, Facebook) where Mark Zuckerberg was a noun and a verb for many, Google was an invisible target. (Microsoft, Oracle and Salesforce are largely enterprise businesses. Amazon’s business was business for users and Apple’s history disconnected the founder-lineage tree.)

Musk brought the mindset of enterprise business into a consumer business; that does not work. In the enterprise, you could muscle the few Tesla partners and customers. But for Twitter, you have a tribe. In the Igbo Nation, you have no chance to finish that food when the village cooks it for you, but be assured that whatever you bring as food, the village will do justice to it. That is why Musk is overwhelmed because the village of Twitter is cooking for him.

Musk’s problem is not the money he may be losing in Twitter. The real issue is that he is destroying Tesla’s brand. You want to buy a car made by that guy? That is why he may step down, not to save Twitter, but to pump more $electrons in Tesla.

Musk usually conducts a poll seeking users’ opinion before he makes some decisions on Twitter. He said Monday that “going forward, there will be a vote for major policy changes.” This suggests that the billionaire will likely heed the outcome of the poll.

With majority of responders voted for Musk to step down as the head of Twitter, both analysts and investors believe that Tesla shares will climb back to their former position in the market.

“If Musk leaves as Twitter CEO and appoints someone else (social media background ideal) this would be a major positive for Tesla shares as the Twitter overhang would be significantly reduced clearly in our opinion,” Ives added.

Comment on Feed

Comment 1: The best Elon can do now for Tesla is step down from Twitter executive role and assume the role of Chairman. Bezos is doing same with Washington Post. He signs the cheques calls the shot from behind- as the grand puppet master- but is in no way visible and close to the brand.

Comment 2: I agree with you, he is too visible on Twitter as the landlord. His attempt to run Twitter like a one man business (which it is actually) will not favour him in the long-run.

Users Voted for Musk to Step Down As Twitter Head, and It’s Good news for Tesla

On Sunday, Twitter CEO Elon Musk conducted a poll asking Twitter users if they want him to continue running the social media platform. Majority of responders (57%) voted for him to step down.

Should I step down as head of Twitter? I will abide by the results of this poll.

— Elon Musk (@elonmusk) December 18, 2022

Musk started the poll shortly after Twitter announced the “promotion of alternative social platforms policy”, which prohibits users from linking to other social media platforms. The policy received a lot of backlash, prompting Musk to reassess his position as the social media company’s head.

The tech entrepreneur, who also is the CEO of the world leading electric vehicle company Tesla, closed Twitter’s $44 billion deal early November, and has initiated series of controversial changes to the platform.

In late October, Musk unveiled plan to charge Twitter users $8 verification fee as new means of generating revenue for the company following the exit of advertisers. Majority of advertisers on Twitter had quit as concern grew about the platform’s policies following Musk’s takeover.

On Thursday, Twitter suspended the accounts of some journalists who Musk had accused of doxxing him, or tracking his location and publishing it online. The move was also widely condemned as an attack on “free speech,” which he said he was buying Twitter to promote. But besides the controversies emanating from the changes being introduced by Musk, analysts see Tesla as the major reason why he is trying to step down from his position as Twitter chief executive.

“While clearly unconventional the Musk CEO poll is a sign that the noise is growing louder and louder given the spider web of Twitter and Tesla weakness.  Poll results will dictate if Musk stays officially as CEO of Twitter….a big moment for this Twitter situation,” Wedbush analyst Dani Ives wrote.

Tesla has been the biggest victim of Musk’s Twitter adventure. The automaker has lost more than 60% of its market capitalization since Musk began the journey to purchase Twitter in April. Investors, worried about Tesla being starved of Musk’s attention because he is spending more time on Twitter, have pressured him to step down.

Musk usually conducts a poll seeking users’ opinion before he makes some decisions on Twitter. He said Monday that “going forward, there will be a vote for major policy changes.” This suggests that the billionaire will likely heed the outcome of the poll.

With majority of responders voted for Musk to step down as the head of Twitter, both analysts and investors believe that Tesla shares will climb back to their former position in the market.

“If Musk leaves as Twitter CEO and appoints someone else (social media background ideal) this would be a major positive for Tesla shares as the Twitter overhang would be significantly reduced clearly in our opinion,” Ives added.

Gary Black, investment advisor and managing partner at the Future Fund, said the Twitter overhang could partially lift once Elon appoints a new CEO, although he still has to fund Twitter’s massive losses, which could worsen. Tesla trading window is now closed to Elon until late-Jan. We believe Tesla brand risk from the Twitter chaos will ease once Elon steps down, he added.