The acquisition of Twitter by Elon Musk has led to the platform completely transforming. The latest in a series of controversial decisions made by the new CEO involved rebranding Twitter to X, a moniker that he has long been passionate about with all things having been considered and taken into account. In spite of the fact that this is the case, it seems like Twitter is suffering greatly under his management, as can be seen in the declining number of marketers looking to set up campaigns on X.
81% of marketers say that they plan to invest in Google and its properties in the coming year, and 57% said the same about Meta. With all of that having been said and now out of the way, it is important to note that 23% said that they have any plans to use X to any degree whatsoever. This is lower than LinkedIn, Microsoft and TikTok, which received 40%, 31% and 32% respectively.
We are already seeing a dramatic decrease in the third quarter of 2023. In Q1, 27% of marketers said that they have invested in X, which was still known as Twitter at the time. By the second quarter this had dipped to 22%, and as of Q3 2023, just 17% of marketers are still eager to invest in X.
X is still performing better than some other platforms such as Pinterest with 22%, Apple with 17% and Spotify with 16%. Reddit is also preferred by just 15% of marketers, so this might not be the end for X if Musk is able to steer the ship into safer waters. Snap also got selected by just 13% of marketers, thereby suggesting that X might not be as successful as Google or Meta, but it is still not the least successful social media ad platform out there.
However, the massive decline still shows that X is not as popular as Twitter used to be. It will be interesting to see how this impacts Elon Musk’s plans in the future as his new company continues to sustain heavy financial losses.
H/T: SEL
Read next: Generative AI Is Growing Faster Than the Smartphone
81% of marketers say that they plan to invest in Google and its properties in the coming year, and 57% said the same about Meta. With all of that having been said and now out of the way, it is important to note that 23% said that they have any plans to use X to any degree whatsoever. This is lower than LinkedIn, Microsoft and TikTok, which received 40%, 31% and 32% respectively.
We are already seeing a dramatic decrease in the third quarter of 2023. In Q1, 27% of marketers said that they have invested in X, which was still known as Twitter at the time. By the second quarter this had dipped to 22%, and as of Q3 2023, just 17% of marketers are still eager to invest in X.
X is still performing better than some other platforms such as Pinterest with 22%, Apple with 17% and Spotify with 16%. Reddit is also preferred by just 15% of marketers, so this might not be the end for X if Musk is able to steer the ship into safer waters. Snap also got selected by just 13% of marketers, thereby suggesting that X might not be as successful as Google or Meta, but it is still not the least successful social media ad platform out there.
However, the massive decline still shows that X is not as popular as Twitter used to be. It will be interesting to see how this impacts Elon Musk’s plans in the future as his new company continues to sustain heavy financial losses.
H/T: SEL
Read next: Generative AI Is Growing Faster Than the Smartphone
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