How Unrealistic Are Traditional Social Medias Financially?
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While I'm no more an avid user of Facebook, I see that each and everyday people who were originally on the platform for social experience have started reverting to something different, which is taking advantage of their audience to promote a business or venture. This isn't just peculiar to Facebook.
So many accounts I've interacted with on WhatsApp are going all business account. Can't lie, Facebook has the audience, and it's easily to sell and promote a scam. In fact it's quite difficult to detect a scam from a real one and one of the reasons why is because people are desperate. It's easy to get carried away, many people have huge followership and use these opportunities to sell ventures, pump in the mega money and steal from the small people.
This is how Ponzi thrived in Nigeria, you see these schemes pay real people to do reviews on these sites, attracting more people with the promise of giving them attracting ROIs for the little they've invested. In 2015 to 2017 Ponzi thrived because people were stolen from to pay others.
A lot of people didn't care where the money came from, provided they were cashing out and getting paid. Ponzi thrived due to referral, many were doing WhatsApp referrals, getting paid to get people to sign on, when the first 100 people were paid, the remaining tens of thousands of people would be swindled and as schemes dies another one is birthed and these schemes were sold through Facebook and WhatsApp.
Nowadays, advanced scam is thriving. One surprising thing is that a lot of people are limiting their quest for financial freedom only to Facebook and Instagram, and this is where they're exposed to people who are fronting and flashing money. People are attracted by what they see.
Once a rich personality is advertising a business (or let me say a personality that seems rich) they buy it all in hook line and sinker. The social media is all about creating an esthetical impression. From flashy lifestyle, to private jet pictures and expensive holidays. A lot of people are hooked into these things it makes them follow whatever financial advice these personalities are shilling out.
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They forget that these accounts have only one job: look and appear rich, then amass a lot of followings through their page and have potential business ventures contact them for deals to sell their business. It's the reason why I hardly take ads on Facebook or YouTube rather seriously.
When a business is real, profitable and true it wouldn't need to be promoted on any social media, maybe mainstream medias, but not social media, the reason is, the word of referral in real-time is more effective than social media and this is why I don't trust ventures who spend more time doing ad on social media. (This is basically my stance on how social media functions in some part of the Nigerian space and not in the general term) and this is very rampant with sports betting companies.
We can say social media marketing is tainted, unrealistic and not true to terms. It's all about money. These big Facebook pages have huge impact. Like for example, how Elon Musk can sometimes influence people's financial actions when it comes to crypto. I however feel we have left the era of Ponzi schemes, we're leaving the era of verbose and outrageous marketing of untenable ventures and I believe it's time people begin to look beyond Facebook and Instagram and start looking deeper into the other aspects of the internet.
This is because while people are seemingly becoming rich on places like Facebook, it's all a hoax. A massive bid to appeal to people. Not all of these ventures are scammy, but they're majorly so scammy it makes it difficult to know what's real, and this is where people should begin to seek for a viable option. I think with time, Facebook will soon be discovered as a giant hoax. It's why most big techs are scared of blockchain and decentralization
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My name is @Josediccus, a young Nigerian entrepreneur who is a Vlogger, A Psychologist, Poet, Sports Writer/Analyst & Personal Finance Coach. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
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When you started talking about ponzi schemes, it made me think of the MLM schemes. Its like they just rebranded how they wanted to promote it and I feel sorry for anyone who gets caught up in it.
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Actually I'm sorry too for them, it seems that sometimes getting financial freedom makes people embrace a whole lot of these schemes. I remember MLM schemes, I remembered getting involved as well, but I'm thankful I didn't at the end of the day.
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Please stop with this shitty comment, it's disgusting