But influencer marketing is also broken. As I wrote in May’s Influencer Marketing 2.0, most influencer campaigns rely on hefty upfront lump-sum payments and use hacks like discount codes to track attribution. ROI is often poor, and measurement is even worse. The channel is difficult to scale efficiently.
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In these Podcast Notes, David stated: “Cities are merry-go-rounds… You’re in something together with people, and you expend very little energy to go fairly fast.”
A way to prop up this kind of humility is to keep score. Use a decision journal. Write in your own words what you think will happen and why before a decision. Refer back to it later. See if you were right, and for the right reasons (think Bill Belichick’s famous 4th down decision against Indianapolis in 2009 which summarizes to: good decision,... See more
There is a whole set of second-order experiences that we don’t actively design, but happen as a consequence of what we design. Which means that there’s the potential for a great deal of positive change that can be created simply by shifting how we look and what we look at.
Today, there are a handful of ways creators monetize their online content. While not fully exhaustive, the most popular and widespread mechanisms are 1) Advertisements 2) Subscriptions 3) One-Off Sales/Donations 4) Brand Sponsorships & Influencer Marketing and 5) Affiliate Marketing.
“There’s been a complete shift, from what I’m seeing,” he said. “Acquiring a customer that is not break-even or profitable is almost as stupid as driving your car backwards on a highway. You just don’t do it anymore.”