If your business is vested heavily in social media platforms, you may want to rethink your strategy. Contrary to popular wisdom, you should worry about the things you cannot control, especially your social media dependency.
If you are wondering how we got here, blame it on the drug dealer model.
Fledgling social media companies that got you hooked with free versions of their ware have gone on to become multi-billion-dollar conglomerates. They now have your personal information and know your vulnerabilities. You have made them integral to your marketing strategy. Free services have evolved into freemium models. The services that you really want are no longer free.
When it comes to social media platforms, you don’t control a thing.
Facebook ad views being impacted by Apple’s app tracking, Google search algorithm changes, and Twitter banning users are all examples of the power the social media giants wield and the impact it can have on your social media monetization efforts.
No, there is no need to panic. At least, not yet.
However, it may be a good time to stop and think about the dependency that your business has on social media platforms. The notion of users and businesses being at the whim of social media networks came to the forefront when Twitter banned Donald Trump, the most powerful person on the planet at that time. You don’t want to violate your service provider’s policies and get banned.
They have the last say.
Google has been known to pull the plug on many popular products some of which may have been part of your business strategy. Google My Business, Hangouts, and Free G Suite are examples of familiar products killed or being killed by Google.
Facebook and Twitter are no different.
Facebook has made enough changes to its algorithms to limit the organic (read, free) reach of brand pages. All your efforts to build up your fan base may only end up seeing diminishing returns.
As for Twitter, the current debate appears to be more about its own existence and the impact Elon Musk can have on its strategy. Also in question is its ability to keep its users (who are not bots) engaged, interested and relevant. So, should you continue to bother? Especially, if you have not been seeing a lot of success with it.
Just in the past few months, there have been many unilateral changes made by social media companies that have impacted businesses and individual users. Shown below are a few examples.
WhatsApp’s privacy policy update created a furor within its user community. The take-it-or-leave-it policy requires users to allow for the sharing of their information among Facebook’s other digital platforms such as Facebook, Instagram, and Messenger.
Failure to comply could result in the deletion of your account. That is drastic!
YouTube
Late in 2020, YouTube introduced its “Right to monetize” clause under its Terms of Service. This change allows YouTube to display random advertisements in the middle of your uploaded videos without any compensation to you. High-traffic channels that participate in YouTube’s Partner Program will see a portion of the ad revenue based on eligibility criteria set by YouTube.
You cannot opt out of the monetization clause. It is mandatory.
Recent changes to Google’s cloud storage policy kicked in on June 1st, 2021 impacting a number of consumers and small businesses. Google’s decision to end its unlimited free storage service for Google Photos came out of the blue. Unless you are a Pixel phone user, your account’s 15 GB total storage limit will now include your photos. Any additional storage will come at a cost, not something you may have planned for.
Social media giveth and social media taketh away!
The policy changes listed above may not have impacted you, but you get the drift.
Shunning technology and social media is not an option. Unicorns are born in the cloud. If you have any doubt, check out this list.
How can you limit your exposure?
For a start, don’t put all your marketing eggs in one social media basket. Make sure that you have a platform of your own – website, blog – that is not dependent on someone else’s platform and their rules.
And, keep your fingers crossed!
So, how vested are you in social media?
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