🦣 Why brands shouldn't join Mastodon 🚫


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Fake Twitter accounts are the latest brand safety concern for advertisers...👇👀

Marketers are besieged by phony blue check marks making mockeries of their public accounts

That was not really Nintendo posting a picture of Mario flipping off Twitter. And that was not Pepsi’s official account calling Coca-Cola the better soda. And Eli Lilly was not tweeting about giving away insulin. Those were just Twitter brand impersonators, and the latest agents of chaos overwhelming the service since Elon Musk started ripping out the wiring.

This week, brands were being impersonated left and right on Twitter because of one of Musk’s first business decisions since buying Twitter last month. Musk has been looking to change the verification system, so anyone could buy a blue check mark for $8 per month, giving that account a badge of authenticity. (Continue reading on Wishu)

In this newsletter, you'll find:

🦣 Why brands shouldn't join the new social media platform Mastodon

🤔 How crypto is making advertising look inauthentic

💸 The creator economy continues to challenge Hollywood

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TRENDING

Video is taking over Twitter, thanks to Musk. Musk wants the social network to match or slightly edge out how much YouTube pays to creators, currently at 55% of the revenue from ads that run on their videos. “It does make sense to start spending some money,” on creators, he said. (Read further here)

SOCIALS

Why brands shouldn’t join the Mastodon wave as an alternative to Twitter

Last week, news of Musk’s Twitter takeover saw many users swarm to possible alternatives until the chaos dies down. The star of the show for users seemed to be Mastodon, an app which launched in 2016 by German software developer Eugen Rochko and looks like Twitter but feels like Discord.

We wrote on Mastodon last week but, in a nutshell, it works like this; instead of one central network on which all users interact, it consists of myriad servers housing specific communities. These servers, called “instances,” are wholly separate, with different owners and moderation policies, but they can link to one another, and thus offer a larger, more complex network for users.

However, while Mastodon is an interesting emerging platform, but it’s not a like-for-like alternative to Twitter. Where this becomes most apparent is, arguably, where brands are concerned...

So far, Mastodon has not proven itself to be an alternative for brands, many of whom have not even created official accounts on the platform yet. And experts don’t recommend that marketers spend their time testing the platform, either, because its setup could limit the number of consumers they’re able to reach on the app.

Continue reading why brands shouldn't join Mastodon (3-min. read)

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WEB3 MARKETING

How crypto is making advertising look inauthentic

This past Super Bowl, agency DentsuMB created the hot ad of the season. Entitled “Don’t Miss Out on Crypto”, it featured the Curb Your Enthusiasm and Seinfeld creator being a sceptic on such historically important inventions as the wheel, the fork, the toilet, democracy, the light bulb, the dishwasher, the Sony Walkman, and, the company name on everybody’s lips right now, FTX.

The spot made FTX one of the most retweeted brands during the Super Bowl, and won the “Most Comical” honorific from USA Today‘s Ad Metre.

In an era that appreciates transparency, relatability and authenticity, crypto’s antics don’t look good for the advertising industry who have otherwise worked hard to remain transparent in the modern day and even take on pro bono PSA and advocacy work for any number of social causes. While obviously blatant awards bait, this type of creative output has also reframed advertising’s traditional and dated reputation (as both a media and a profession) as more style than substance. The hyperbolic hubris of the industry’s crypto work, as epitomised by its FTX work, undermines all that noble effort.

Continue reading (3-min. read)

TRENDS

MARKETING TREND PREDICTIONS FOR 2023 AND BEYOND

The creator economy will continue to challenge the Hollywood economy

The creator economy is redefining what is must-see TV.

YouTube accounts for more than 50% of ad-supported streaming watch time on connected TVs among people ages 18 and up. Where once brands had to buy TV spots in the Hollywood economy to generate awareness, there’s now a serious alternative economic engine that arguably has equal or greater power among consumers.

How powerful is that engine, really? As just one example, consider Forbes’ Top 50 creator Charli D'Amelio. Her family now owns a consumer product company (D’Amelio Brands) valued at $100 million as a pre-revenue, pre-employee and pre-product company, not to mention a $25 million venture capital fund to back nascent companies in everything from insurtech to consumer brands.