When's the Right Time to Jump into a New Social Network?

[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.

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