Brand recognition is monetizable when you can apply it to other products. People like Apple computers; plop the logo on a phone and they’ll be predisposed to buy an Apple phone.
But Twitter doesn’t sell anything else. There aren’t going to be any Twitter-branded products that try to monetize the brand. So what’s the value of the brand lost by changing the name to “X”?
I would guess the ad revenue. Twitter sells ads. Businesses are probably less likely to advertise on a rebranded platform that implemented so many controversial changes that advertising on it is now not only hitting a much smaller target group (since people left) but is also associated negatively, which might lead to losing even more clients. It is like a local organic fair trade food brand being associated with nestle. This will probably not lead to an increase in sales but much the opposite.
Twitter isn’t losing users, it’s gaining them. They may be losing advertisers but “branding” doesn’t really have anything to do with that. Advertisers go where the eyeballs are, brands are otherwise meaningless to them.
Tweet being used ubiquitously was profitable the same way xerox being used as a verb to mean “scan and copy” was profitable. Instead of looking at xerox machines first, in this case, people would look to twitter (and the ads on the site, clicked or not) first when it came to social media information flow.
I’m not saying it’s a good thing that anyone uses only one social media, but it was a reality. Twitter has moved down to only about 8% market share from a dominant position. It does NOT command the audience it once did, and advertisers are moving away from it for more reasons than the literal antisemitism and general ignorance spouted by the new owner. It’s a multitude of factors dragging it down in overall value, but deleting brand recognition by associating the site with the multiple previous failed X projects by the same guy who fucked up the previous ones? Not priceless.
crashfrog@lemm.ee 10 months ago
Brand recognition is monetizable when you can apply it to other products. People like Apple computers; plop the logo on a phone and they’ll be predisposed to buy an Apple phone.
But Twitter doesn’t sell anything else. There aren’t going to be any Twitter-branded products that try to monetize the brand. So what’s the value of the brand lost by changing the name to “X”?
volvoxvsmarla@lemm.ee 10 months ago
I would guess the ad revenue. Twitter sells ads. Businesses are probably less likely to advertise on a rebranded platform that implemented so many controversial changes that advertising on it is now not only hitting a much smaller target group (since people left) but is also associated negatively, which might lead to losing even more clients. It is like a local organic fair trade food brand being associated with nestle. This will probably not lead to an increase in sales but much the opposite.
crashfrog@lemm.ee 10 months ago
Twitter isn’t losing users, it’s gaining them. They may be losing advertisers but “branding” doesn’t really have anything to do with that. Advertisers go where the eyeballs are, brands are otherwise meaningless to them.
skulblaka@kbin.social 10 months ago
[citation needed]
According to every source I can find X/Twitter has lost around 32 million users and counting since the rebrand.
RIPandTERROR@sh.itjust.works 10 months ago
Is this stupid sack of self sucking anal fuck juice you, mate? Image
crazyCat@sh.itjust.works 10 months ago
Brands have tons of relevance beyond physical products.
zeze@lemm.ee 10 months ago
homicidalrobot@lemm.ee 10 months ago
Tweet being used ubiquitously was profitable the same way xerox being used as a verb to mean “scan and copy” was profitable. Instead of looking at xerox machines first, in this case, people would look to twitter (and the ads on the site, clicked or not) first when it came to social media information flow.
I’m not saying it’s a good thing that anyone uses only one social media, but it was a reality. Twitter has moved down to only about 8% market share from a dominant position. It does NOT command the audience it once did, and advertisers are moving away from it for more reasons than the literal antisemitism and general ignorance spouted by the new owner. It’s a multitude of factors dragging it down in overall value, but deleting brand recognition by associating the site with the multiple previous failed X projects by the same guy who fucked up the previous ones? Not priceless.
jaybone@lemmy.world 10 months ago
You know all those links and buttons and toolbars and popups on websites that say share on Twitter with the Twitter logo? That’s the brand.