Last month, Elon Musk, completed his very public $44bn (£38.1bn) takeover of Twitter, creating many headlines in the process. As he has began to layout his plan for the social networking site, many users have expressed concern and interest in the future of Twitter, including what Musk’s ownership may mean for advertisers. Below, we’ve outlined the key changes that have happened since the takeover, as well as what the future is likely to bring for those using the network as a platform for their business.
What Has Happened Since the Takeover?
In the month since Musk initially took over, there have been numerous staff departures, including the firings of CEO Parag Agrawal and CFO Ned Segal. One of the biggest changes has been the update to the blue-tick verified status of profiles, with users now able to purchase a blue-tick for a monthly fee, fuelling the potential for impersonations. These high-profile changes have led to apprehension from some advertisers, with some reports suggesting that half of Twitter’s top 100 advertisers have now ceased advertising on the platform – including big brand names such as Volkswagen, Kellogg, Ford and Chanel.
The Future of Twitter for Advertisers
Despite the unclear beginning to Musk’s ownership, a new plan for ‘Twitter 2.0’ has recently been laid out, which outlines a plan for the future. The roadmap includes the introduction of longform Tweets, in-app payments, and ‘advertising as entertainment’, amongst other features. Here at CCM, we understand that any potential changes to Twitter's security and advertising policies are key issues for businesses who rely on the platform for advertising. Our social media experts are continuing to closely monitor the situation, keeping our clients informed of any changes which may impact their company’s profile.
Contact Us
For more information about our Twitter and social media marketing plans, simply contact our team of experts today. Call 01625 453 050 or email us at info@cobaltcatmedia.com.
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