Tag Archive for: elon musk

X is Joining The Google Ads Display Network

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X (previously known as Twitter) is partnering with Google Ads in an attempt to make up for the declining ad revenue seen by the company since its takeover by Elon Musk. 

In the near future, X will be included as part of the Google Display Network, making it possible for many of the ads run by Google Ads to appear on the social network.

Why Is X Partnering With Google?

Since the purchase of Twitter by Elon Musk last year, the company has seen an estimated 59% drop in ad revenue from the US. While numbers are not available globally, most analysts agree that this has dramatically hurt the social network’s profits 

Much of this reduction in ad revenue was sparked by Musk’s decisions to reduce moderation on the platform and to unban controversial accounts. Since then, advertisers have seen their ads appearing alongside increasingly objectionable content including hate speech, slurs, and nazi imagery. As you might expect, this has led many advertisers to completely stop advertising on the platform.

Can You Opt Out?

For brands concerned about potentially having ads shown alongside hateful or controversial media, it is important to know that you can choose to not have your ads shown on X or any other website. As a Google spokesperson told Ad Age:

“This is an opportunity for our advertisers to reach a broader audience, but as always they can choose what sites and apps their ads run on. Any publisher who participates in this type of partnership must abide by our publisher policies.”

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X Is Likely Going To Start Charging All Users For Access

X (formerly Twitter) is likely to do away with free accounts in the near future and shift to a strictly paid business model according to a recent statement from owner Elon Musk. 

Rumors had been swirling that Musk is considering moving away from free accounts, and the controversial business leader confirmed as much in a live-streamed interview with (similarly controversial) Israeli Prime Minister Benjamin Netanyahu earlier this week. 

In the discussion, Musk mentioned that he X is “moving to a small monthly payment” as a solution to problems on the platform. 

Specifically, Musk said this approach is “the only way I can think of to combat vast armies of bots. Because a bot casts a fraction of a penny – call it a tenth of a penny – but even if it has to pay … a few dollars or something, the effective cost of bots is very high.” 

How this paid model would prevent issues that have been seen on other platforms with a small entry fee is unclear. 

At the same time, it is hard to believe Musk isn’t also considering introducing a mandatory fee for users as a solution to continuously dwindling ad revenue. 

Since taking over Twitter, ad revenue has fallen throughout Musk’s ownership, largely due to reductions in moderation and increases in objectionable content including hate speech. The platform has had several high-profile incidents of advertisers being unwittingly shown alongside nazi imagery, slurs, and calls to violence.

Meanwhile, Musk argues these incidents are rare exceptions and blames organizations such as the Center for Countering Digital Hate saying they are “actively working to prevent free expression.”

Despite the series of controversies and questionable decisions, Musk touted several milestone achievements throughout the livestream, including saying that X has 550 million monthly users who post between 100 to 200 million times a day. 

For businesses continuing to include X as a part of their social media strategy, it is important to monitor these continued changes and assess whether the platform is worth paying for access.

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Twitter Is Rebranding to “X”

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Elon Musk is continuing to remake Twitter as he wants it with the biggest change yet – an entirely new brand name – X. 

Instead of Twitter, users visiting the social network on desktop devices will now be redirected to X.com, the new home of the platform for the foreseeable future. Some mobile users have already seen the update on their phone, while many others will see the icon transform from a cheerful blue bird to a sleek X in the coming days. 

In the announcement, CEO Linda Yaccarino said the new name represents their move to becoming more than a social network app to an “everything app”. 

As she shared in an X (formerly called a Tweet):

“It’s an exceptionally rare thing – in life or in business – that you get a second chance to make another big impression. Twitter made one massive impression and changed the way we communicate. Now, X will go further, transforming the global town square.”

“X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us in all the ways we’re just beginning to imagine.”

Analysts have expressed concern about the move, with some speculating that the social network is losing billions in brand recognition. 

It is also unclear if the brand name change will bring back any advertisers who had stepped away from running ads on Twitter following a rise in hate speech and offensive content over the last year. 

Additionally, the use of redirects and completely changing the domain name raises questions about how long embedded Twitter content on other sites will continue to function or if they will soon break as the Twitter domain becomes part of the past. 

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Microsoft Advertising Cuts Twitter Access To Major Ad Tools

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Microsoft Advertising has begun alerting users that it is cutting support for Twitter across its platform starting April 25, 2023.

This means you will no longer be able to include Multiplatform Smart Campaigns or manage your Twitter account through the Digital Marketing Center (DMC). That includes being unable to schedule, create, or manage tweets and tweet drafts will be removed from the platform on that day.

Additionally, advertisers will be unable to view or track past tweets’ performance and engagement on the platform.

Why This Matters

This is notable for a few reasons. 

DMC is one of the leading tools used to manage multiple social media accounts from one location, including the crucial ability to respond to DMs from all major social networks without signing into multiple accounts and pages. 

This is because the tool is offered for free to all advertisers on Microsoft Ads and is integrated with Microsoft’s other social and paid ad tools for businesses. Once removed, this will create a significant hurdle for many advertisers wanting to manage social ads and engagement efficiently. 

This is also a major loss for Twitter, which has struggled to bring back advertisers since the takeover by Elon Musk. Estimates indicate that up to half of Twitter’s biggest advertisers have left since his purchase of the company.

Just this week, Musk has been making appearances at major marketing and advertising conferences in a bid to attract brands back to Twitter, but the loss of access through major social ad tools will only make Twitter a harder sell to the brands which have already left.

Meanwhile, Microsoft generated over $12 billion dollars in revenue for digital ads last year and is poised to make even bigger gains this year.

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Since Elon Musk’s Takeover, Twitter Has Lost 40% of Its Daily Revenue

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Since the much-publicized takeover by Elon Musk, Twitter has seen its daily revenue plummet by up to 40%. While Musk has been widely criticized for his behavior as CEO and management of the company in recent months, this info, reported by The Information, indicates things are also falling apart behind the scenes. 

Much of the lost revenue is attributed to recent news that more than 500 of Twitter’s top advertisers cut or entirely stopped advertising on the platform since Elon Musk’s takeover. 

Why Are Advertisers Pulling Away From Twitter?

The main issue raised by most major advertisers is Musk’s approach to content moderation. Musk has claimed to be a proponent of free speech online, indicating that content moderation should be handled with a light hand – if at all. 

As such, Musk has reinstated many previously banned accounts – including those of avowed white supremacists – and dismissed most of the staff responsible for content moderation on the platform. 

Understandably, this has made many large advertisers wary of how safe the platform is for their advertising. 

At the same time, Musk has also terminated much of Twitter’s sales teams, including those in charge of accounts with the company’s biggest advertisers. Similarly, engineers and data scientists who were working to improve the advertising service on Twitter have been dismissed. 

What This Means For Twitter’s Future

Unless Musk finds a way to reverse course and satisfy previous advertisers’ concerns, this could bode poorly for the company’s future. Users have already expressed frustration with having new features locked behind a paywall as part of Twitter Blue, indicating the premium service will not be able to make up for lost ad revenue. Meanwhile, Musk’s slashing of staff will make it difficult for the company to engineer new tools or services that generate revenue. 

With all this in mind, advertisers have every right to approach the platform with caution.

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Twitter Introduces View Counts, Promises Users Will Be Able To Opt-Out

Last week, Twitter CEO Elon Musk suddenly revealed that view counts would be publicly visible for all tweets – not just videos shared on the platform. 

Previously, this data was only available to the user who posted a tweet through the post insights tools for creators. 

The view count appears alongside other engagement metrics such as likes and retweets, below the main content of a tweet. The number also refreshes in real-time.

As Musk said during the announcement, the view count is meant to draw attention to the number of Twitter users that do not typically engage with tweets in public ways – such as commenting or liking:

“[This] shows how much more alive Twitter is than it may seem, as over 90% of Twitter users read, but don’t tweet, reply or like, as those are public actions.”

Twitter users did not appear to be on board with the newly viewable impressions counts, though many complained that the lack of engagement compared to views actually demoralizes creators. It is also a strange time to introduce impression counts when there has been widespread frustration about falling engagement across the platform.

After days of backlash about the feature, Musk said that the platform would be adding the option to turn off view counts. 

In response to a comment from someone who disliked the design of Twitter since adding the view count, Musk said the platform will “tidy up the esthetics & add a setting to turn it off.”

Still, the controversial CEO remained positive about the feature, saying “I think almost everyone will grow to like it.”

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Twitter Relaunches Twitter Blue and Other Profile Verification Labels

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After a false start, Twitter is relaunching its verification system including the much-discussed Twitter Blue program. 

To distinguish those who are paying for verification from celebrities or well-known businesses, the new take on the system is also introducing unique labels for businesses and official accounts. 

During the initial rollout of the Twitter Blue system, there was a wave of confusion as parody accounts, trolls, and other bad actors were spending the $8 fee for Twitter Blue to impersonate public figures and companies. 

Following this confusion and complaints from several companies facing PR fiascos, Twitter CEO Elon Musk temporarily retracted the program. In theory, the new badges for official and business accounts, along with restrictions on who can apply for Twitter Blue, should help prevent bad actors from abusing the system. 

Below, we will get into what each badge stands for and who is eligible for each.

Twitter Verified (Twitter Blue) – Blue Checkmark

The classic blue checkmark will be available to users subscribing to the Twitter Blue verified program.

The program costs $8 per month if you subscribe through a web browser or $11 for those subscribing through the iOS app. Musk says the increased cost for Apple users is reflective of Apple’s commission on in-app purchases.

Along with the blue checkmark, Twitter Blue accounts will soon start receiving a number of benefits including:

  • Priority placement in replies, mentions, and search results
  • 50% fewer advertisements
  • The ability to edit tweets
  • The ability to publish longer videos

To be eligible, accounts must meet a number of criteria including:

  • Be Complete: Your account must include a display name and profile photo
  • Recent Activity: There must be activity on the account in the last 30 days
  • Established: Accounts must be older than 90 days and include a phone number for verification
  • Non-Deceptive: Twitter must find no signs of deceptive activity on your account, including signs of platform manipulation or spam.

Verified Businesses – Gold Checkmark

While verified businesses or public figures used to share the blue checkmark, they will now be distinguished with a gold checkmark. The intent is to prevent confusion between individuals paying for verification and brands established on the platform. 

For now, brands that already have a blue checkmark will see their badge automatically converted to the gold option. However, Twitter’s product lead, Esther Crawford, says the company will soon be opening up portals for businesses to apply for gold checkmarks.

Important Verified Figures – “Official” Labels

Lastly, the social network is granting important public figures an “Official” label next to their account names. This label will be applied to all of the following types of accounts:

  • Government accounts
  • Political organizations (such as parties) 
  • Commercial companies & business partners
  • Major brands
  • Media outlets

For more, explore the new Help Center page for profile labels.

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