When's the Right Time to Jump into a New Social Network? | Ep. #1124

In episode #1124, we discuss when you should start using a new social network. Tune in to hear when you should leverage a trending new social network. TIME-STAMPED SHOW NOTES: [00:25] Today’s Topic: The Right Time to Jump into a New Social Network [00:34] TikTok is a new social network that has taken off. [00:45] It’s easier if you’re an early adopter, but if you have the money, wait for the new site to establish itself. [01:15] Just because Snapchat is popular, doesn’t mean you can go in there and figure out how to monetize. [02:35] Neil’s rule of thumb is that if a social network has less than $1 billion market cap, he doesn’t pay attention to them. [02:50] Social networks are based off of user growth, not actual value. [03:15] If the network is growing and they are being talked about, look into it. [03:45] TikTok’s current revenue is well into the millions. [03:47] That’s it for today! [03:50] Go to Marketing School to check out a video that will help you grow your business and to sign up for our live Mastermind. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.