Africa’s economic reset requires moving from ambition to execution
The Africa Commerce Convergence Summit keynote address identified four elements that must converge if the continent is to achieve a meaningful economic reset.
SOCIAL MEDIA
Twitter predicted to lose more than 30m users in next two years
By our News Team | 2022
Market researcher expects 32-million people will leave the platform in 2023 and 2024, while ad revenue will be ‘essentially flat’.
For beleaguered Twitter – and digital marketers who see the platform as a key part of their strategy – the bad news just keeps on coming.
According to a report published on Tuesday by market research agency Insider Intelligence, Twitter could lose as many as 32-million users over the next two years due to public exasperation over technical issues and concern about the proliferation of offensive content.
Photo by Alexander Shatov on Unsplash
The report predicts that Twitter’s global monthly users will decline by nearly 4% in 2023 and a further 5% in 2024, making a total of more than 32-million people. These would be the first user declines since Insider Intelligence began tracking Twitter in 2008.
“More unstable and less pleasant” is the expectation of the report’s authors, noting that there will be a particularly steep decline in the key US market.
No single event will cause collapse of Twitter
“There won’t be one catastrophic event that ends Twitter,” a principal analyst at Insider Intelligence, Jasmine Enberg, said. “Instead, users will start to leave the platform next year as they grow frustrated with technical issues and the proliferation of hateful or other unsavoury content.
“Twitter’s skeleton staff, working around the clock, won’t be able to counteract the platform’s infrastructure and content moderation problems.”
Critically for the future economic viability of the platform, Insider Intelligence has also slashed its forecast for ad revenue growth, saying it will be “essentially flat” as advertisers pull back amidst growing brand safety concerns.
Should Twitter eventually fail, it would not be the first social media platform to do so. Vine, which specialised in social media video, has gone. So too has Google Plus. MySpace still exists, although in a very different guise, and most experts believe its decline is terminal.
Momentum Group appoints chief marketing and communications officer
Vongani Mageza brings more than 20 years’ experience across financial services and FMCG) companies such as FNB and Diageo.
AI and algorithm-led engagement among the challenges facing marketers
AI agents will influence shopping, algorithms will supersede social connections, and the clip economy will change how brands connect.
Absa bank launches pan-African campaign with athlete Eliud Kipchoge
The brand partnership includes a new TV commercial featuring Kipchoge, digital storytelling, wellness initiatives and community programmes.
How traditional trade is being reimagined, but remains ‘traditional’
Modern retail in Africa is still dwarfed by the traditional trade. Marketers who dismiss this relationship-heavy retail model do so at their peril.
How luxury brands become a source of meaningfulness for employees
Research finds brands don’t just sell products. They can also provide employees with stories through which they feel their work is meaningful
Redefining honesty in a crisis: Why truth alone is not enough
Honesty must be demonstrated through transparency, accountability and action – shaping both reputation and future trust following a crisis.
Lesotho bank’s culturally intelligent campaign beats bigger rivals
In the funeral plan category, where most advertisements look like an obituary, Standard Lesotho Bank opted to ‘sell the cow’, not the policy.
AMC magazine brings latest news and insights for Africa’s marketers
Strategic Marketing for Africa, the publication for deep-thinking African marketing professionals, is not to be missed.
Global study of marketers and agencies is coming to Kenya for first time
CEO of Scopen says the expansion into East Africa is a natural progression following the success of the research in South Africa.
Huge African and Caribbean trade potential can be unlocked, study finds
Report says around 80% of Africa’s annual goods export potential to the Caribbean remains untapped.