Will Twitter and Facebook Changes Impact Your Business?
By its very nature, the tech industry has always changed fair quickly. However, recent shakeups at Twitter and Facebook have been a bit surprising. Many companies use these social media sites to engage with customers, answer questions, promote products, run ads and much more. This is not going to end in the near future, nor should you expect social media to ever disappear entirely. But these new changes can have an impact, so let’s take a look at what they are and what they mean for you.
Musk Buys Twitter, Sparking Instant Issues
First of all, Tesla boss Elon Musk recently purchased Twitter for more than $40 billion. In the days following, it quickly lost scores of users, with searches revolving around how to delete a Twitter account going up by 500%. While there are still millions of people on the site, there has definitely been an exodus.
If you use Twitter for your business, it’s too soon to know just how far things will go. It could be that the exodus will end over the next few months and that Twitter will settle into a stable, if smaller, user base. But it is worth keeping an eye on the trends. If enough of your potential audience switches to alternatives, marketing tactics may be more effective elsewhere.
Facebook to Lay off 11,000
Another major move recently announced is that Facebook is going to be laying off over 11,000 employees. The company has recently seen its user base shrink, and advertising has become less profitable since users are opting to keep more information private. Additionally, Mark Zuckerberg has been losing money on the Metaverse project.
Facebook is one of the main sites companies use, and that won’t change. You can still connect with customers and grow your brand. Ideally, Facebook will refocus on advertising and it will remain profitable. But that may depend on your target audience, as young people are far less likely to use Facebook than their parents and grandparents.
Adjusting Your Efforts
As social media changes, you always have to be ready to adjust your efforts to reflect these alterations. We are social media marketing experts here at Content Customs, so we can help you navigate this changing landscape.