One of the best advice I ever received from a wealthy investor was this: if your cousin, neighbor, taxi driver and a store clerk are excited and are saying the same thing, it’s time to get out. This was the case for the Dot.com bust, buying 2nd & 3rd homes before the 2008 Great Recession, $20,000 bitcoin price at the end of 2017. That also goes for social media. The fact that everyone is talking about Instagram means that we have already passed the peak or will soon reach it.
According to The Next Web’s recent ranking of most popular social media platforms, Twitter fell from 4th place in 2014 to 10th place after the now discontinued Google+ and Reddit. Twitter has become an echo chamber with mostly bots, which have already infected Facebook Groups and now Instagram with fake followers.
Instagram will have a few more years of run but newer platforms such as Tic Tok will over take Instagram. It’s not if but a matter of when.
So what should you do? You have to diversify. You still apply the greatest energy into near-term wins but you also need to start experimenting with new platforms, even if it’s uncomfortable.
If Instagram is your personal fashion magazine, then Tic Tok is The Voice meets Dancing with the Stars on Comedy Central.
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