Twitter warns that X will take away the golden certification mark if it does not pay advertising costs above a certain level
It turns out that X has warned some advertisers in the US and UK that they will lose their verified status unless they pay more than a certain amount in ad spend. Since its acquisition by Elon Musk, it has been reported that X has been suffering from a lack of advertisers, and Mr. Musk has come up with a series of recovery measures.
Elon Musk's Rebranded Twitter Cuts Ad Prices - WSJ
According to the Wall Street Journal, starting on August 7, 2023, He warned that if he did not use the advertising cost of 10,000 yen, he would lose the golden certification mark (a check mark indicating that the account is official from the company).
The presence of a certification mark is important for many companies, as there are a number of malicious users spreading false information by impersonating other companies' brands.
The Wall Street Journal also confirmed with advertisers that X is offering some advertisers in the U.S. and U.K. a discount on video ad inventory that appears alongside trends and topics in the search tab. It is said that it has started. This type of ad appears on the search tab 24 hours a day, and is a great way for advertisers to get involved.
X plans to offer 50% off new reservations for these ad spaces until July 31, 2023. An email sent by X to advertisers said, ``The purpose of the discount is to help advertisers gain reach at important moments like the FIFA Women's World Cup.''
This isn't the first time X has tried to shore up its bottom line by discounting advertising costs. When X was still Twitter, the company ran a campaign during the Super Bowl that offered, ``If you spend $500,000 on advertising, you get an additional $500,000 worth of free advertising space.'' It was reported that some brands that had stopped advertising due to Musk's acquisition had resumed spending.
Immediately after Mr. Musk acquired Twitter in October 2022, the number of harmful impersonation accounts increased to take advantage of the confusion, and major advertisers stopped advertising one after another in an attempt to avoid damaging their brand image. I was there. According to data submitted by Pathmatics, a digital marketing analysis company, approximately 625 of the top 1,000 companies that were advertising on Twitter as of September 2022 had stopped advertising on Twitter as of January 2023. I know.
More than half of Twitter's major advertisers have stopped advertising, and advertising revenue has plummeted - GIGAZINE
Mr. Musk tweeted in July 2023 that ``advertising revenue has decreased by up to 50% and cash flow has become negative,'' but he also showed a bright path to cash flow becoming positive soon, and hopes to regain profits. The company has hired Linda Yaccarino, a former advertising executive at NBCUniversal, as its chief executive officer, with the aim of reviving the brand. Some advertisers say that Mr. Yaccarino is someone who 'fully understands the importance of content moderation for advertisers,' and believes he can bring the necessary stability to the X platform. It is expected.
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