The Friday Five: Musk's X Sues CCHD, UK Consumers Find Targeted Content 'Boring', and News is 2nd Biggest Social Media Video Type

Welcome to this week's edition of Friday Five, your go-to source for the latest insights and updates in the world of marketing and technology.

We're excited to bring you a curated collection of noteworthy stories from the last seven days that are shaping the landscape.

Without further ado, let's dive into this week's highlights!

1. Musk Sues CCHD for Highlighting Rise in Hate Speech on X, Blames Them for Losing Ad Revenue

Elon Musk's social media platform formally known as Twitter has filed a lawsuit accusing the Center for Countering Digital Hate (CCDH) of causing "tens of millions of dollars" in lost revenues due to advertisers pausing spending on the platform.

The lawsuit alleges that CCDH's research on X's content led to at least 16 unnamed advertisers halting spending or advertising plans as opposed to it being the well-documented rise in hate speech toward minority groups that caused them to stop spending.

CCDH has accused Musk of attempting to "bully" and silence criticism.

“Elon Musk’s latest legal threat is straight out of the authoritarian playbook – he is now showing he will stop at nothing to silence anyone who criticises him for his own decisions and actions" said CCDH's Chief Executive Imran Ahmed.

The lawsuit, filed in a US district court, seeks unspecified damages for breach of contract, computer fraud and abuse act violations, and other allegations.

The filing also accuses CCDH of "unlawfully" scraping data from Twitter for its research and obtaining unauthorised access to data from consumer research company Brandwatch.

X Corp's ad revenues, which accounted for 90% of its 2021 annual results, have reportedly declined since then, with Musk acknowledging a recent halving of ad revenue.

BBC News has more on this story.

2. Meta to Bow to EU Pressure on Behavioural Ads and Give Users Choice

Meta, the tech giant behind Facebook, has announced its intention to comply with European Union (EU) privacy regulations by offering users the choice to deny behavioural advertising.

This decision follows an ongoing regulatory process regarding the legal basis for microtargeted ads.

Meta aims to switch to a consent-based approach for targeted advertising, although no specific timeline has been provided.

The move comes after Norway's data protection authority temporarily banned Meta from running behavioural ads without user consent.

Meta's proposed timeline to transition to consent suggests a potential implementation by the end of October, but EU regulators will ultimately determine the compliance schedule.

The company's decision reflects the shifting landscape for tech giants, indicating a move towards greater privacy compliance in the face of EU regulations.

Head to TechCrunch to learn more.

3. Social Media Sales Outstrip e-Com and Brick and Mortar Stores for 1 in 4 UK Small Businesses

Around 25% of UK small businesses now attribute their top sales to social media, outshining e-commerce and physical stores, according to a study by BT.

However, 21% of entrepreneurs worry they lack the necessary digital skills to harness the full potential of these platforms.

The survey revealed Facebook (30%), Instagram (18%), Twitter (10%), and TikTok (9%) as the primary platforms for sales generation.

Social media's popularity has led more businesses to opt for unpaid (25%) and paid (22%) social media posts to drive income.

Despite the success, some entrepreneurs feel overwhelmed by evolving rules and algorithms.

Over 58% expressed interest in digital skills training, with 60% wishing they had received such support during their education.

Influencer Patricia Bright encourages entrepreneurs to embrace online courses to enhance their social media prowess.

There is more insight on 英国电信集团 's study below.

4. Missing the Mark: Targeted Content 'Boring' for Most UK Consumers

A survey by Optimizely, a digital experience platform, indicates that 51% of UK consumers find targeted online content "boring" or "unhelpful."

The study, based on insights from 1,000 consumers and 100 marketing leaders, highlights the potential of personalisation for boosting customer loyalty, while outdated assumptions and technology hinder progress.

Around 70% of consumers feel frustrated with irrelevant promotions, and 83% of marketers rely on assumptions rather than insights for personalization efforts.

Outdated technology limits effective personalisation, with only 33% of marketers equipped for hyper-personalised experiences.

Despite this, 65% of consumers show greater loyalty to brands that understand their preferences.

Optimizely's CMO, Shafqat Islam, emphasises the need for brands to invest in modern data-driven technology and engaging content creation to bridge the gap between consumer expectations and current efforts.

Marketing Tech News has more below.

5. News Claims Second Spot in Social Media Video Views

In the realm of UK social media, news consumption and instructional content have secured the top spots.

According to an annual Ofcom report, a substantial 63% of adults watch news videos at least once a month, closely trailing the popularity of 'how-to' videos at 64%.

This shift in preference indicates a growing appetite for informative and practical content.

The charm of short-form videos is most pronounced among young people, fuelled by platforms like TikTok and Instagram.

YouTube takes the lead as the go-to platform for such content, followed by Facebook and Instagram.

Meanwhile, TikTok continues its meteoric rise, engaging 45% of the audience this year, with an impressive 76% of Zoomers (aged 15-24) actively participating.

While news content and DIY videos are claiming their spots, Facebook's allure as a news source seems to be waning.

For further insight, head to Press Gazette .

And there you have it – a glimpse into the dynamic world of marketing and technology. We hope these insights provide you with fresh perspectives.

As always, stay tuned for more exciting updates and trends in the ever-evolving landscape of marketing. Until next time, happy marketing and have a fantastic weekend!