How to Lose a Brand in 10 Weeks
The saying goes: “There’s no such thing as bad press.” However, this isn’t always the case when trying to maintain your brand’s reputation. Sometimes bad press is just that and can cause lasting damage to your organization and your bottom line. Twitter is the best recent example of the dangers of bad press for your organization’s reputation.
Let us bring you up to speed…
In the spring of 2022, Elon Musk made headlines when he announced his plans to purchase a significant portion of Twitter’s shares, leading to an offer of approximately $44 billion to buy the platform outright. This offer was higher than Twitter’s stock price at the time, making it too good for the company to turndown. In October of that year, Musk officially became the owner of Twitter. As he walked through the doors of Twitter headquarters, he proclaimed, “Entering Twitter HQ – let that sink in!” signaling his arrival as the new owner of the social media platform.
Week of October 31
Massive Layoffs
After the acquisition, Musk decided to downsize the company’s workforce. Employees received a fateful email with a subject line reading, “Your Role at Twitter,” indicating whether they would keep their position or lose their job. Almost two-thirds of Twitter’s 7,500 employees lost their jobs. The mass layoffs across the company shocked many, sparking controversy and backlash.
Week of November 7
#TwitterBlue
Musk announced the rollout of Twitter Blue, a subscription service that provides users with additional features for their Twitter accounts. Besides a once sought-after blue check mark, a Twitter Blue subscription means users can schedule tweets in advance, access exclusive content and discounts, and undo tweets.
Week of November 14
Email of Commitment
Musk sent an email to the remaining employees of Twitter, demanding that they either commit to working longer hours at high intensity or receive three months of severance pay. He named this “Twitter 2.0.”
Reinstate Banned Accounts? Yay or Nay?
After much anticipation, Musk released a poll asking if former U.S. President Donald Trump should be allowed to return to Twitter. The poll received 15,085,458 votes, with 51.8% in favor of Trump’s return and 48.2% against it. Other individuals reinstated on the platform included Rep. Marjorie Taylor Greene, Kathy Griffin, and Kanye West (now known as “Ye”).
Week of November 21
Twitter Blue Delayed
Musk announced the delay of the paid verification program Twitter Blue as concerns over impersonation increased. Twitter Blue began to see a rise in fake accounts impersonating brands and celebrities, which led to confusion and, ultimately, a loss of advertising revenue on the platform.
Week of November 28
Apple Advertising
In a Twitter Space conversation, Musk announced that Apple had “fully resumed” advertising on the social media platform after a conversation with Tim Cook. Previously Musk claimed that Apple had suspended advertisements on Twitter for the most part and even threatened to remove the app from the App Store.
Week of December 5
#TwitterFiles
To show transparency, Musk introduced Twitter Files. These ‘files’ were meant to provide an in-depth look at the social media company’s content moderation conversations and decisions. The released files covered Hunter Biden’s laptop controversy, how Twitter historically utilized tools to lower the visibility of certain accounts and the decision to remove Trump from the social media account after January 6, 2021.
Week of December 12
Suspension of Journalists
Twitter suspended several journalists’ accounts due to their reporting of the account @ElonJet, which exposed the location of Elon Musk’s private jet. Run by 20-year-old Jack Sweeney, the Twitter account published the jet’s location using publicly available information. Since Musk publicly pledged not to infringe on first amendment rights, controversy arose from the suspensions. Musk alleges a stalking incident led him to suspend these accounts.
New CEO? Yes or No?
Sticking to the Twitter polls’ theme, Elon asked the “Twitterverse” if he should step down as CEO. When the poll closed, more than half of the 17.5 million respondents voted in favor of Musk stepping down.
Week of December 19
$1.7 Trillion Federal Spending Bill Poll
Musk posted another Twitter poll asking for users’ thoughts on a $1.7 trillion spending bill that Congress was considering. The results concluded that 71.2% voted against the bill, while 28.8% voted for the bill.
Week of December 26
#TwitterOutage
Widespread reports of a global Twitter outage arose as many users could not access the platform for extended periods. Twitter received over 10,000 user reports of issues in the first hour of the reported outage.
Week of January 2
Eviction Notice?
The social media platform is facing a lawsuit due to failure to pay $136,260 in rent for its San Francisco office, according to legal documents filed in San Francisco State Court. Twitter has recently been accused of not paying rent on any of its worldwide offices.
What’s Next?
After over ten weeks of owning Twitter, Elon Musk’s actions have driven many controversies and consequences for the social media platform. Widespread layoffs, a disorganized new subscription service, and the return of previously banned accounts have ultimately caused severe backlash from employees and the public. Impersonation issues and the delay of Twitter Blue led to a loss in revenue. The suspension of journalists’ accounts has damaged the platform’s credibility in the eyes of many in the general public. These past ten weeks of headlines, and their consequences, show the potential risks and adverse effects of continued negative press. What 2023 will bring for Elon Musk and Twitter remains to be seen.
A brand is more than just a logo and tagline– a brand is based on the perceptions of your organization. When the perceptions change, the impacts on your brand can be monumental. Whatever happens next, there’s no denying that Twitter has experienced a rough three months.
Do you need help managing the stories you tell about your brand? We can help! Contact one of our HAVEN Mavens™ today.