Is Social or Tech dying faster — Juan Mendoza // The MarTech Weekly
Juan Mendoza
The MarTech Weekly
- Part 1 Is Social or Tech dying faster — Juan Mendoza // The MarTech Weekly
- Part 2Launching MarTech Weekly Pro — Juan Mendoza // The MarTech Weekly
Show Notes
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02:03The death of social mediaLegacy social media platforms like Twitter have seen a decline in people using and signing up for them. However, addictive apps like TikTok are coming into the market and taking over the landscape currently.
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06:03Twitters performance as a businessTwitters business performance can be attributed to being in the right place at the ideal time and consequently attracting the right personalities. Twitters focus on breaking news, thought leadership, and short-form content also creates a unique opportunity for Elon Musk.
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09:40Stable growing social media platformsYouTube has been able to attract and onboard new users steadily. TikTok has also been able to steadily grow because it focuses more on providing entertainment than connecting with people.
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12:02Reasons for the shift in social media useInitially, social media apps were optimized for connecting users and building relationships. Today, the aim of social media is to get as much attention as possible and monetize that attention.
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14:49Emerging social media appsGas and BeReal are both new social media apps growing quickly in terms of users. These apps are attracting people away from more prominent social media platforms and indicate the users appetite for more authenticity and something new.
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19:45Advertising and the decline in user growth on social media platformsThough user growth was at 80% between 2006 and 2009, that growth slowed down drastically. With this decline in user growth, fewer ad dollars are going into keeping users engaged which has led to tech companies doing massive layoffs.
Quotes
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"There's an interesting decline in people using social media and onboarding to legacy social media platforms. Addictive apps like TikTok are taking over the whole landscape at the moment." -Juan Mendoza, Founder, The Martech Weekly
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"Twitter's story right now is one story out of a big picture around social media right now. It's changing a lot, particularly the past three years." -Juan Mendoza, Founder, The Martech Weekly
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"The 2016 presidential elections saved Twitter and turned it into a divisive environment because Donald Trump was on there. It then drew all this engagement, and people started joining." -Juan Mendoza, Founder, The Martech Weekly
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"In terms of performance of the business, Twitter's been in the right place at the right time, having the right people attracted to it." -Juan Mendoza, Founder, The Martech Weekly
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"YouTube's one of the most stable and rewarding for content creators. They've been able to strike that balance." -Juan Mendoza, Founder, The Martech Weekly
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"People who use TikTok use it almost two or three times more than Instagram. So, it's an extremely addictive platform." -Juan Mendoza, Founder, The Martech Weekly
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"Content consumption is becoming more important to users as opposed to actually connecting with friends and family." -Juan Mendoza, Founder, The Martech Weekly
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"The reason MySpace didn't take off as an ad platform was because everything was so inconsistent. It's very hard to place ads when every single person's page is very different stylistically." -Juan Mendoza, Founder, The Martech Weekly
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"Over 20 years, we've gone from let's use social apps to help us build relationships, to let's use social media to garner as much attention as possible." -Juan Mendoza, Founder, The Martech Weekly
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"From 2006 to 2009, there was 80% year on year growth of social media users in the United States. Now, it's hovering between zero and 3% year on year growth." -Juan Mendoza, Founder, The Martech Weekly
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"On average, people use five different social media apps throughout the year when they're engaging online." -Juan Mendoza, Founder, The Martech Weekly
- Part 1 Is Social or Tech dying faster — Juan Mendoza // The MarTech Weekly
- Part 2Launching MarTech Weekly Pro — Juan Mendoza // The MarTech Weekly
Up Next:
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Part 1Is Social or Tech dying faster — Juan Mendoza // The MarTech Weekly
Juan Mendoza, Founder and Editor of The Martech Weekly, talks about what’s happening in Martech news. User growth rates on social media platforms are declining and companies like Meta recently let go of 11,000 employees. It’s clear that there are many changes taking place in the social media landscape, but are we in the age of the death of social media platforms? Today, Juan discusses whether social media or the technology industry as a whole is dying.
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Part 2Launching MarTech Weekly Pro — Juan Mendoza // The MarTech Weekly
Juan Mendoza, Founder and Editor of The Martech Weekly, talks about what’s happening in Martech news. The Martech Weekly has been serving the community for two years. Now, they’ve moved into the paid subscription space with the launch of The Martech Weekly Pro. Today, Juan discusses why he decided to launch The Martech Weekly Pro.
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