So, What’s the Deal with Twitter?
There has been a lot of buzz about Twitter recently, causing many to question whether to stay on or leave the platform. While we can’t answer that for you, we do think it’s important to be up to date with what’s happening in the world of social media so we can work together on your strategy. Here’s what we’ve gathered:
On October 27, Elon Musk bought Twitter. Since then, Twitter has been quite the controversial topic as users and non-users alike wait to see what unfolds under the platform’s new management. Right off the bat, significant structural changes began taking place. Musk laid off half of the company’s full-time employees in early November, including a handful of senior executives, as well as more than 4,000 contracted employees.
As a self-proclaimed “free speech absolutist,” Musk seems to have a lot of changes in the works. One of the first to be implemented was the rollout of “Twitter Blue,” a new way for users to get that blue “verified” checkmark next to their handle. Twitter Blue will cost users $7.99 per month for the blue checkmark, in addition to early access to new features. Why does it matter? Verification checkmarks are designed with safety and security in mind so that users on any given social media platform can rest assured that the information they’re getting is from a trusted source. Basically, it’s meant to ensure that accounts are who they say they are.
However, the rollout of Twitter Blue has been put on hold after an incident where a parody account masquerading as Eli Lilly and Co., an American pharmaceutical giant, acquired a blue checkmark. The fake account put out a tweet saying “We are excited to announce insulin is free now.” Due to the blue checkmark and Eli Lilly’s official logo set as its profile picture, the tweet garnered a lot of attention and was seen over a million times before it was taken down by Twitter over six hours later.
The real Eli Lilly issued an apology tweet later on, stating, “We apologize to those who have been served a misleading message from a fake Lilly account. Our official Twitter account is @LillyPad.”
Over a week later, Musk announced that he was pausing the Twitter Blue rollout by tweeting “Holding off relaunch of Blue Verified until there is high confidence of stopping impersonation. Will probably use different color check for organizations than individuals.”
So what about the actual numbers? Is Twitter actually losing users over all of this? There is certainly a long list of celebrities saying their goodbyes, not to mention, half of Twitter’s top 100 advertisers have stopped advertising on the platform since early November. According to MIT Technology Review, Twitter may have lost up to 1 million users since Musk took over:
“The firm Bot Sentinel, which tracks inauthentic behavior on Twitter by analyzing more than 3.1 million accounts and their activity daily, believes that around 877,000 accounts were deactivated and a further 497,000 were suspended between October 27 and November 1. That’s more than double the usual number.”
While we’re looking at the numbers, we should also ask what exactly those numbers mean. Is Twitter really the “town square” sort of platform it’s cracked up to be, where everyone has a voice and everyone’s opinion is heard? It’s worth looking at the data to really evaluate who is carrying influence. According to Jason Linkins in an article he wrote for The New Republic:
“Here’s the good news, however: Twitter isn’t a “public square.” I don’t mean to downplay the way this platform can and sometimes does have uplifting effects on people’s lives and careers. But, you can’t have a public square without the public, and the public has proven itself to be very resistant to Twitter’s charms. A study by Pew Research found that fewer than one-quarter of U.S. adults use Twitter at all. Of this sliver of the population, an even tinier cohort is responsible for the vast majority of tweets: “The top 25% of users by tweet volume produce 97% of all tweets, while the bottom 75% of users produce just 3%.”
So, what does all this mean for your business and its social media strategy? If you’re team “say goodbye to Twitter,” there are other options. Later recently published a great blog about five alternative options if you’re searching for a similar platform to switch to. While you’re not going to find an exact Twitter replica, you may find a site that feels like a good fit for your business. Meanwhile, why not put the extra time and energy into really honing in on your other social media accounts, and making sure they are a good representative of your brand?
If you are planning on staying on the platform but have slight concerns, here’s an article with some actionable steps to help keep your account safe. At the end of the day, deciding how to move forward is a choice only you can make based on what you feel aligns with your business goals. On our part, we’re planning to continue to monitor any Twitter news and adjust our strategy as needed. If you’re looking for a little extra social media support, buzz us to set up a strategy session!
