July 25, 2023
BBC News recently published an article featuring Shuba Srinivasan, Professor of Marketing, discussing Elon Musk’s decision to change Twitter’s logo in favor of an Art Deco-style X and how this rebranding could impact the social media platform.
Since Musk’s takeover of Twitter, the social media platform has experienced a drastic drop in advertising revenue, as big brands pulled back, wary of changes he has made including how the firm handles verified accounts and moderates content. Musk’s aggressive business approaches have also resulted in a significant drop in the brand’s overall worth. Research suggests that rebrands can pay off, especially if a firm is in trouble or wants to change direction.
Shuba warns that success becomes less likely when a company is in turmoil, saying that it was especially risky move, given all the social media competitors, such as Mark Zuckerberg’s Threads, rushing to fill twitter’s role. “The rebranding is likely to confirm the fear of many Twitter users that the acquisition by Musk signaled the end of the Twitter they knew,” she said.
Musk wants to make X an ‘everything app,’ but this will take time, money, and people – three things the company no longer has. The success of Twitter X would require participation from a far broader user base – no small challenge even if Twitter’s core users stay loyal.