Elon Musk is clearly desperate to boost engagement on Twitter. I say that because of this Tweet from Korean car maker Hyundai that he responded to:
I am guessing that he means that he wants users to press the heart so it increases engagement. Elon then did this:
So why is Elon doing this. My guess is that it has to do with this CNNÂ report which states that about half of Twitter’s top 1,000 advertisers in September were no longer spending on the platform in the first weeks of this year:
Some 625 of the top 1,000 Twitter advertisers, including major brands such as Coca-Cola, Unilever, Jeep, Wells Fargo and Merck, had pulled their ad dollars as of January, according to estimates from Pathmatics, based on data running through January 25.Â
Wells Fargo said it “paused our paid advertising on Twitter” but continues to use it as a social channel to engage with customers. The other brands did not immediately respond to a request for comment.
As a result of the pullback, monthly revenue from Twitter’s top 1,000 advertisers plummeted by more than 60% from October through January 25, from around $127 million to just over $48 million, according to the data.
That has to alarm Elon and it’s clearly making him do some very unconventional things to get engagement up. Because if engagement goes up, he then has something to sell to advertisers. And it ensures that he has cash rolling into Twitter’s bank account. Which based on the CNN report isn’t happening at present. Thus I have a sneaking suspicion that you’re going to see more of this sort of behaviour from Elon as he gets more desperate.
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This entry was posted on February 11, 2023 at 11:53 am and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed.
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Elon Musk Gets Even More Desperate To Boost Engagement On Twitter
Elon Musk is clearly desperate to boost engagement on Twitter. I say that because of this Tweet from Korean car maker Hyundai that he responded to:
I am guessing that he means that he wants users to press the heart so it increases engagement. Elon then did this:
So why is Elon doing this. My guess is that it has to do with this CNNÂ report which states that about half of Twitter’s top 1,000 advertisers in September were no longer spending on the platform in the first weeks of this year:
Some 625 of the top 1,000 Twitter advertisers, including major brands such as Coca-Cola, Unilever, Jeep, Wells Fargo and Merck, had pulled their ad dollars as of January, according to estimates from Pathmatics, based on data running through January 25.Â
Wells Fargo said it “paused our paid advertising on Twitter” but continues to use it as a social channel to engage with customers. The other brands did not immediately respond to a request for comment.
As a result of the pullback, monthly revenue from Twitter’s top 1,000 advertisers plummeted by more than 60% from October through January 25, from around $127 million to just over $48 million, according to the data.
That has to alarm Elon and it’s clearly making him do some very unconventional things to get engagement up. Because if engagement goes up, he then has something to sell to advertisers. And it ensures that he has cash rolling into Twitter’s bank account. Which based on the CNN report isn’t happening at present. Thus I have a sneaking suspicion that you’re going to see more of this sort of behaviour from Elon as he gets more desperate.
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This entry was posted on February 11, 2023 at 11:53 am and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.