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Stefan Repin
I help identify a reliable route to market with b2b clients | Account-Based Marketing expert | B2B Demand Generation for Regulated Markets
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July 4, 2023
LinkedIn recently changed its algorithm rules, highlighting a crucial lesson: Businesses can not rely solely on one channel for success 🏆 . Don't believe me? Take a look at the story of Joe Speiser. In 2014, he started a Facebook page called "Little Things," which generated revenue through fun, viral, and entertaining news content, just like Buzzfeed. Over four years, the company experienced impressive growth, with revenue exceeding $75 million, 20 million Facebook followers, and a team of 110 employees 📈 . The problem? They relied entirely on Facebook for their audience. Their audience interacted solely when scrolling through their feeds 🤳 . In 2018, Facebook decided to change its algorithm to prioritize "real news" over other types of content. They wanted to transform Facebook into a genuine news platform rather than just a meme hub. Consequently, Little Things found themself with no reach. Facebook's response was clear: they had to pay for ads 💸 . Ultimately, Joe had to sell his startup. The big lesson ☝: Businesses should not depend on a single social media channel to develop an audience. Instead, they should focus on how to maintain traffic and engage their audience outside of these platforms in a place they can control. Being prepared to adapt is crucial 🔀 . If a business is solely based on one platform, it will be left behind by any minor algorithm change. Adapt and learn how to market your business outside of social media effectively 💣 . This post was inspired by Joe's Twitter thread. You can find it in the comments. As for Joe, he is now the co-founder of Hampton. #socialmedia #content #business #success
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July 4, 2023