Happy Monday, y’all! I hope you are having a wonderful week and getting ready for the Memorial Day weekend. For today’s Monday’s Marketing Minute, I’m highlighting three stories that I plan on delving into deeper in future posts. But for now, I wanted to give a quick overview of each story so you are up to speed as we head into the week!
Elon Musk has finally confirmed who his new CEO will be, and it is Linda Yaccarino, formerly of NBCUniversal. Here is Linda’s profile on LinkedIn so you can see her work history. As you can see, she has a heavy background in media and advertising, which I think helps signal where Elon wants to go with Twitter under her leadership. As I said above, I’ll have an upcoming post that focuses on what I think Elon’s plans for Twitter are and how Linda’s expertise fits into those plans.
I am excited to welcome Linda Yaccarino as the new CEO of Twitter!@LindaYacc will focus primarily on business operations, while I focus on product design & new technology.
Looking forward to working with Linda to transform this platform into X, the everything app. https://t.co/TiSJtTWuky
— Elon Musk (@elonmusk) May 12, 2023
BTW as a bonus, here is a very short clip of a fascinating interview with Elon on CNBC. I love his answer that he will say what he wants and believes, and if the consequences of doing so is losing money, so be it. Of course, that’s easier said when you are already a billionaire!
Elon Musk on Tuesday said that if his inflammatory tweets scare away advertisers from Twitter, he will accept that. “I’ll say what I want, and if the consequence of that is losing money, so be it." https://t.co/0Pi3Yl8Jo2 pic.twitter.com/rpZ3Ff8Dw0
— CNBC (@CNBC) May 16, 2023
Instagram is readying its Twitter competitor. Instagram will launch a standalone, text-based app this Summer, code named Barcelona to compete with Twitter. The app will be interoperable with Mastodon and allow users to use their Instagram login and will encourage your followers on Instagram to follow you on this new app. No definitive launch date other than ‘this summer’. I will have more on this story in an upcoming post, but for now I will say that companies shouldn’t be trying to build the next Twitter, they should be trying to build the next Truth Social. I’ll explain what I mean by that in a future post.
Everything we know about Instagram’s Twitter clone, due this summer https://t.co/AV8bhmj7CD
— TechCrunch (@TechCrunch) May 19, 2023
Amazon Prime continues to dominate the retail membership club space. Why does Amazon Prime have so much more success than its competitors? It identified a reason why customers weren’t purchasing (Slow and costly shipping) and offered the solution to that problem as a perk of being a member. Viola.
Amazon Prime will make up 53.1% of US paid retail membership fee revenues this year.🛒
This puts it leagues ahead of closest rival Costco (9.5%), Walmart-owned Sam’s Club (5.9%) and Walmart+ (1.5%).
— Chart of the Day (@ChartoftheDay_) May 17, 2023
So that’s it for this edition of Monday’s Marketing Minute. I will have a deeper dive on all three of these stories upcoming soon, as well as some other issues I want to touch on, so there’s a busy Summer upcoming! Hope you have a wonderful week!