MBA1286 Is the Future of Social Media Private?

Let me tell you about Intuit QuickBooks. When I was starting out my business.

I remember sitting at my desk late at night not working on my business but cleaning up numbers, tracking and reconciling payments and wondering how this became my life. But once I automated the admin side of things, of my finances, those nights had disappeared and I felt a whole lot better. Outdo it with intuit QuickBooks QuickBooks is the trusted end to end solution that businesses rely on for getting paid, managing finances, paying employees, finding new customers and more. QuickBooks provides a team of AI agents and trusted experts, so doing it yourself no longer means doing it alone. Their payment agent gets you paid faster, their customer agent finds leads, follows up and secures more sales, and the accounting agent automates and categorizes transactions. Get your critical business jobs done with QuickBooks on the Intuit platform. Ready to save on new tech? It's time for Dell Tech Day's annual sales event celebrating our customers with fantastic deals and benefits. Perks include Dell Rewards, free shipping, premium Support and more.

PCs like the Dell 14 with Intel.

Core Ultra processors will help you do more faster and with a premium suite of monitors and accessories, you can upgrade your whole setup with amazing savings. Visit Dell.com deals.

Hey O welcome to the Hundred Dollar MBA show where business keeps booming every day with their daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online. And in today's lesson you will learn Is the Future of Social Media Private? If you caught Facebook's annual conference F8, you saw that on several occasions. Mark Zuckerberg said the words the future of Facebook is private. The future of social media is private. And as the leader in social media and the company that controls not only Facebook But Instagram, Messenger, WhatsApp, they really lead the narrative in a lot of ways. If things are shifting from public posts and news feeds to private groups and messages, if that's the direction we're going, what does that mean for your business and your marketing? What does that mean for advertising like Facebook ads that have proven to be a great way for lead acquisition up to this point, what does this mean about getting the attention of your audience? When I watched the highlights of the F8 conference and heard Mark Zuckerberg say these words, I knew we need to start planning for our businesses, we need to start planning for our marketing because things will change quickly. How do we do that? Well that's what we discuss in today's lesson. So let's get into it. Let's get down to business. Just a quick tip before we get into today's topic. If social media is moving private, if you want to be in the know when it comes to technology and business and want to watch these company keynotes, then that often last two and a half hours to three hours. Whether it's Apple's keynotes, Facebook, Tesla, Google, these things can get really long winded. Highly recommend you check out the Verge YouTube channel. They condense all these keynotes and all these conferences that can go up to three hours in like 10 or 15 minutes. They give you the highlights, they give you the most important parts. So recently Facebook had their conference F8 and the talk was social media is moving private. Now, we know that Facebook's been under a lot of heat because of their privacy and leaking information and all that kind of stuff. So we understand that we're going to take this with a grain of salt that, you know, they want to focus on privacy, but they're actually making a conscious effort to move things to the private realm. Not because they think, you know, that's the right move for their business. Well, it's because that's where the customers have gone, because the trust has been lost. Not only trust lost in Facebook, but trust lost in social media in general. So conversations now are starting to be in smaller groups, whether they're in WhatsApp, whether they're DMs, whether it's in messenger or in Facebook groups themselves. Facebook is seeing a trend that people are interacting with social on a public basis, posting publicly, messaging publicly less and less than before. And the same goes with Instagram as well. And it's now moving into more of a private realm where people are meeting in groups and sharing things in groups rather than publicly on their profiles. The question is, is that, what does that mean for your marketing? Most businesses, especially online businesses, use Facebook ads, which are ads that show up in the newsfeed in the right column to market their business. Facebook ads have become one of the best customer acquisition tools for many businesses online and offline for the last five or six years. If people are not going to be in the newsfeed and they're going private, people aren't going to spend much time on the newsfeed anymore. Then are these ads going to be any effective? First thing I want to say is that this change of moving more to private rooms and not publicly in news feeds, this change, this public to private change, it's not going to happen overnight, but it will happen. And it will happen quite quickly and quickly. We're talking about the next few years, two to three years where most people will be on private platforms or in private rooms. So what does that mean? That means it's a gold rush right now when it comes to Facebook ads. The price of Facebook ads, meaning cost per click, might go down, but the cost per acquisition is going to go up because there are going to be less people on to see that ad. So many astute large businesses that saw this keynote was like, okay, we got to triple down on Facebook ads the next year because we don't know how long this gravy train will last. The second thing I want to advise you is whatever you're doing to drive traffic with ads, you need to drive traffic so you can acquire this customer and capture their email address. You need to move them to your email marketing system. You need them on your email list. Having access to somebody's inbox is becoming more and more precious. It's like gold these days and it's becoming more and more exclusive. Remember when email first started, we allowed anybody in our inbox. We gave our email out and we couldn't wait to see if we got an email. Now we are very selective and email is so powerful because it converts so high when you can email market directly to the customer. So people more than ever. I've been saying this for years now, but more than ever, it's important for you to grow your email list and get as many people on your list now that would be interested in your product or service because that customer acquisition model of running ads to a public site like Facebook, where people are on there all day, it's just not going to be there for long. Yes, something new may come about, but you don't know what the cost will be. Right now we know around how much this is going to cost. The other thing to know when it comes to social media going to private, is that your public Persona and your, let's say vanity metrics when it comes to social media really have very little value come a few years from now. Facebook has already removed the like count on Instagram pictures. That means you can't see how many people have liked a photo if the photo's not yours. If you just look on a stream, in a newsfeed, you just can't see how many likes and your better be friends account and follower count like on Twitter is going to follow soon. So this idea of like I have half a million followers on Twitter is Like seen as currency and a way to show that you're a professional or show that you have the stuff is no longer going to be available, or at least that's where the trend is going. The importance of public perception on social is becoming less and less important now. Even though, you know, Facebook ads in the main news feed may not be as effective. Of course, these companies like Facebook and Instagram and all that stuff, they need to make money and they're going to add ads to the private channels as well in the groups. It doesn't mean that you're not going to have opportunity to advertise, but you're going to have to advertise and market in a different way. You got to be very, very specific because you're going to be marketing to a specific group. It's going to be a lot more effective and it's probably more costly because it'd be very targeted. But your marketing strategy is going to change. You're going to have to change the way you market, especially when it comes to ads. This is what happens in business when things grow and evolve. If you even look at Google and Google as a search engine, five years ago, if you were the number one ranking, you were pretty much on top of the page. Maybe there would be an ad or two. Now the first page ranking has tons of ads at the top. Sometimes you have to scroll a couple times to see the first actual ranking for number one. So being number one was a lot more effective in terms of SEO than it was before. It's still great to be number one, but the game has changed and you gotta change with it. Now, I mentioned email earlier and email is private. It's a private conversation. This is not a public forum. This is why it's so effective. And social media knows this. And that's why they want to create their own version of an inbox of an email, while keeping things private in private messages and private groups. This is going to give email even more value. So if you had one goal when it comes to marketing this year, I would make that goal. Growing your email list as much as possible with targeted leads. It's only to get more expensive to acquire targeted emails targeted leads in the future. So do now before everybody wises up.

ClickUp just solved AI's biggest problem and it's saving 4 million teams from productivity loss every day. Unlike ChatGPT and other AI tools, ClickUp can leverages all your work into one platform. So your AI super agents have full context to prioritize tasks, execute workflows and draft documents instantly. Teams using ClickUp finish work 30% faster and cut meetings in half. Try ClickUp for free today and get 15% off AI upgrades at ClickUp.com podcast that's C-I C-K-U P.com podcast Looking for a Valentine's gift she'll truly love? 1-800-Flowers.com knows what she wants. For 50 years, 1-800-Flowers.COM has helped guys get it right, delivering millions of fresh Valentine's roses nationwide with high quality bouquets guaranteed to last. Right now, when you buy one dozen premium roses, they'll double your bouquet to two dozen for free. Valentine's is coming fast, so don't wait until the last minute. Double your blooms today at 1-800-flowers.com sxm. That's 1-800-flowers. Com sxm.

To wrap up today's lesson, social media is going private, so you need to do the same. You need to acquire as many targeted leads and grow your email list. Things are going to shift slowly but surely, so you need to do it now. Society is preferring smaller groups, private conversations, and email is the most intimate of conversations when it comes to communicating online, at least when it comes to text. So it makes most sense if you want to get close to your customers and your customers close to you. To start building your email list and start nurturing them with a great onboarding sequence with a great value add. When they join your newsletter, like an email course, like an automated series, get them getting used to opening emails from you. Do it now and you'll reap the benefits a year or two from now, trust me. All right, that wraps up today's lesson. Thank you so much for listening. If you love what you hear, drop us an iTunes rating and review. Thank you so much for listening. We read every single review. Let us know what you love about the show, what your favorite takeaway is, your favorite episode. We'd love to hear from you. Before I go, I want to leave you with this. At the end of the day, business is all about building a great product or service that people want or need and finding those people that are most interested in it, introducing the product to them, delivering it with great service, and making sure they're happy. That's how you make money in business. In order to do this, you have to have conversations, whether they're in person, on the phone or on email. But you have to have a one on one conversation at some point. Even if it's automated chat, whatever it is, posting your status, posting your picture on the beach with your laptop that's just not effective anymore. You need to have a conversation. People have really gotten smart and gotten used to social and have become numb to the noise. And when people get numb, the only thing that works is the basics. The basics of business. Thank you so much for listening, and I'll check you in tomorrow's episode. Free ride Friday. Until then, take care.

ADP knows anything can change the world of work. Like what if a blocked shipping port caused a worldwide coffee shortage? Suddenly, businesses are scrambling to manage an increasingly drowsy workforce. Productivity slips 20% just due to the extended time it takes to conduct a job interview while yawning. Anything can change the world of work. From HR to payroll. ADP helps businesses take on the next anything. ADP always designing for people.