Twitter has been a whirlwind since Elon Musk took control. In just a few days, he’s made some significant changes, and the site is abuzz with activity. Here’s what you need to know about the new Twitter.
Musk is no stranger to shakeups. The billionaire entrepreneur is known for his disruptive behavior, whether it’s upending the auto industry with Tesla or changing the way we get around with SpaceX. Now, he’s turning his attention to Twitter.
Musk has only been in charge for a few days, but he’s already made some significant changes, like charging for verified accounts or firing half of the company’s staff.
These changes are sure to shake up the social media landscape – and they’re just the beginning.
Brands leave Twitter
As is known, one of Twitter’s primary sources of income is advertisements, a business model that has sustained the company for a long time. Recently, however, Twitter has been toying with the idea of a subscription-based service.
In other words, users would have to pay to use the platform in addition to other changes that are generating great uncertainty among users and especially among advertisers.
Since before the deal closed, Musk has been emphatic about his desire to build a platform where free speech exists and is respected.
But as a consequence, many brands fear this will unleash a wave of inappropriate content and magnify hate speech, so they have decided to withdraw their advertising investment from the platform.
Others, such as the car manufacturer General Motors (GM), consider that there are conflicts of interest with other Musk companies (for example, Tesla) and feel that he would always prioritize their brands.
Therefore, they do not see the platform as suitable for advertising.
Advertising agencies have also expressed concern about what may happen on Twitter and recommended that their clients eliminate the platform from their strategies.
The Interpublic Group advertising agency, whose clients include major brands such as Coca-Cola, Nintendo, American Express, and Johnson & Johnson, has recommended all of them stay away from Twitter for the time being.
Musk tried to calm things down, and in a letter addressed to advertisers, he invited them to build something together.
“It is important for the future of civilization to have a common digital square, where a wide range of beliefs can be discussed in a healthy way, without resorting to violence.
There is currently a huge danger that social networks will be divided into echo chambers extreme right and extreme left, and that generate more hate and divide our society,” said the letter from the new head of Twitter.
However, advertisers and users continue to departure and leave the social network by the hundreds.
Should I stop advertising on Twitter?
We still don’t know what direction Musk will take Twitter, so it’s too early to leave the social network altogether; what you can do is dose the content and investment.
The best thing you can do right now is to invest in advertising on various social networks so that you can reach your potential customer and not depend on one platform.
By doing this, you will also be able to create a more diverse customer base which can lead to increased sales and conversions.
Advertising on social media platforms is one of the most effective ways to reach out to potential customers, so make sure to allocate a reasonable budget for it.
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