It was a wild weekend for OpenAI, the creators of the app that made AI mainstream: ChatGPT.

On Friday night the board shocked the world by announcing that CEO Sam Altman was fired for unknown reasons.

Then on Saturday it appeared they were trying to get him back. On Sunday they hired a new CEO and on Monday Microsoft announced that Altman now works for them.

The reasons Altman was let go are unclear. We’ll see if the upheaval impacts the app which is currently used by a substantial percentage of marketers.

Here’s the rundown for today…

• TikTok Stumbles - Rivals Gain Ground

• Google Search Change - Highlights “Hidden Gems”

• Boost Open Rate - Useful Infographic

• Social Media Audit - How Good Is Your Marketing?

• Scarcity Tips - 2 Ways To Create It

Lurn Bytes: Your Daily News Download

TikTok Might Be Plateuing - According to a new survey, TikTok's popularity among Gen Z teens has plateaued. It remains ahead of YouTube and other rivals, but its competitors are gaining traction - challenging TikTok's dominance in the short-form video market.

Google Tweaks Their Search Engine - Google has implemented changes to showcase content from social media, blogs, and forums that offer personal insights and experiences. These changes, known as "hidden gems," are intended to highlight content that shares firsthand knowledge and personal stories…

Boost Your Email Open Rate [Infographic] - This handy infographic from Social Media Today reveals proven strategies to boost the open rate of your emails.

How Good Is Your Social Media Marketing?

Social media marketing is something that digital marketers have been chasing since the days of Myspace. It’s free, generates qualified leads, and can massively enhance your brand power.

Unfortunately, most marketers aren’t very good at it.

If you want to generate traffic from social media marketing, then you need to know where you stand. That’s why an AUDIT is a powerful exercise to do.

TLDR - How To Conduct A Speedy Social Media Audit

So many marketers have a sort of “set it and forget” mentality when it comes to social media. Sure, we check out our stats every day and we keep up on trending content…

But it’s rare that we actually take a peek under the hood and see EXACTLY why some things are working and why others aren’t.

This is especially important if you’ve “inherited” a brand’s social media from another employee or if you’re freelancing for someone.

The article linked here talks about…

• Why you NEED to audit regularly…

• How to define accurate goals for each platform…

• The #1 way to improve your branding quickly…

• How to recreate past successes

• All the data you need to pay closer attention to (and what’s overrated)

• And how to create clearer objectives for the future…

Check out the full article to get started with your social media audit!

Daily Hack - 2 Tips For Using More Scarcity Marketing

Scarcity marketing is one of the best strategies you can use today.

It’s simple, time-tested, and very effective. There’s a reason why it’s used so frequently! The FOMO (fear of missing out ) emotion is so strong these days, and that’s exactly what scarcity marketing can harp on.

People just don’t want to miss out on anything. So the more limited you can make your offer, the better.

So how do you put this into practice? Here are 2 strategies we love…

#1 - Supply-Based Scarcity

This is all about limiting the supply of a product.

An example is when a company only makes a certain number of products and announces a special launch. Once the units are sold, that’s it!

This drives a significant amount of traffic and lets the seller charge more for a limited edition product.

Another option is a “limited stock” sale.

There are some products that are certain to sell out. Even if the product can eventually be purchased and resold again — at least initially — there's a limited stock.

You see this a lot with new video game consoles. Stores almost always run out of stock.

That creates scarcity, and customers rush to the store. If you have a limited stock, make sure your customers know! That way, you can drive more sales through scarcity.

#2 - Time-Based Scarcity

This involves only having a certain amount of time to make a purchase. This may be a special price, bonus item, or even the product entirely!

Think of expiration dates for example.

The length of time can be whatever you choose, but you need to make sure the sale (or item in general) is only available for a certain amount of time.

That’s why you see so many “countdown timers” on websites. Make sure to remind your audience multiple times about the deadline. Really drive that message home.

Another example is a “limited-time only” product.

These products are only sold for a certain period of time and then are not sold again.

Now that you’re thinking about scarcity marketing you can probably think of dozens of examples when you’ve seen these marketing strategies.

ICYMI - The Biggest Stories You May Have Missed

New TikTok Ad Metrics - TikTok is introducing a new metric called "Engaged View-Through Attribution" (EVTA) to better understand how ads influence purchases. TikTok believes this will offer deeper insights into how its ads lead to sales…

YouTube Reveals Easy Way To Create AI Music - "Dream Track" allows users to create music using AI in the style of various famous artists. This tool enables creators to produce up to 30-second soundtracks for their Shorts, featuring AI-generated voices of selected artists like Charlie Puth, Demi Lovato, and others...

New Meta AI Tools - Meta is introducing two new AI tools called "Emu Video" and "Emu Edit" for creating and editing videos and images on Facebook and Instagram. These tools are part of Meta's broader efforts to integrate generative AI into social media…

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