Whether A-D-L or "X", Ad Buyers Still Losing Confidence

Whether you are a consumer or an industryinsider you39ve no doubt discovered that Twitter is now quotXquot Say quotbye byequot to the tweeting bluebird and hello to 39X39traness in all the ways we39ve come to expect from Musk39s Xladen empire SpaceX Tesla Model X his new artificial intelligence venture xAI and even his son39s name X amp198 A12 But will quotXquot actually mark the spot this timeOver a weekend in late July Musk unexpectedly announced via Twitter that the social media platform would now be referred to as quotXquot adopting a new logo while retaining many elements of the original Twitter brand Users will no longer be posting quottweetsquot but rather quotx39squot according to Musk Linda Yaccarino X39s new highprofile CEO attempted to clarify the changes stating that quotXquot represents the future state of unlimited interactivity integrating features such as audio video messaging and paymentsbanking Despite this vision the only apparent changes are the platform39s new name and logo while other elements such as the term quottweetquot the website39s search bar and the blue bird logo on embedded tweets on thirdparty sites remain the sameThe result is a disjointed consumer experience that just feels xtra confusing The rapid unveiling falls far short of a cohesive strategic rebrand leaving insiders wondering if it39s more of an attempt to shift focus away from Meta39s Threads a direct competitor launched earlier this summer As opposed to Threads39 positioning as a textbased conversation app quotXquot aspires to transform into a platform that delivers quoteverythingquot according to Yaccarino Presently however quotXquot needs to prove to the adsupported media marketplace that it can first do quotsomethingquot rightOn Labor Day Musk returned to the news cycle tweeting that despite efforts to shore up advertiser support with Yaccarino at the helm the xfactor hasn39t quite manifested Advertiser revenue is down 60 claims Musk ostensibly due to pressure from the AntiDefamation League ADL but recent research has uncovered other issues at play that could spell more difficulty aheadThe Myers Report queried over 500 social media buyers and planners in July and August 2023 as part of its annual adsupported industry study of 4200 professionals The survey revealed that nearly HALF 47 believe that Twitter now quotXquot is quotnot performingquot for marketers or quotcould be betterquot This contrasts significantly with the social media industry average of 15 The top three reasons behind this underperformance are Concerns Over Brand Safety 59 Lack of InnovativeCreative Opportunities 55 and Lack of Quality Sales Teams and Personal Relationships 50Moreover Yaccarino39s highprofile move from NBCUniversal to the quotXquot CEOship has not yet had the intended effect of turning advertising investors around Social media buyers and planners across 14 toptier agencies plan to decrease their current investment by an average of 43 over the next 612 months in light of recent executive management changesIn an everevolving digital landscape Twitter39s metamorphosis into quotXquot represents a bold stride toward redefinition and expansion However the initial feedback from consumers and industry stakeholders suggests a disjointed brand perception with concerns primarily centered around brand safety innovation and sales relationships Despite the visionary overtones proposed by its new leadership the platform39s transition has not been without friction It underscores the paramount importance of strategic alignment stakeholder communication and coherent brand messaging As quotXquot forges ahead its challenge will be to reconcile its broadened aspirations with the foundational expectations of its diverse user base and advertiser community Whether the ADL is in fact exerting pressure on the Xbluebird is not explicitly verifiable but social media ad industry respondents are very clear about the platform39s underperformance The forthcoming months will be crucial in determining whether quotXquot can solidify its new identity while regaining advertiser confidenceClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

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Whether A-D-L or "X", Ad Buyers Still Losing Confidence

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Stacey Lynn Schulman

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Whether A-D-L or "X", Ad Buyers Still Losing Confidence

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Stacey Lynn Schulman

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