Under Elon Musk’s charge of Twitter, now X, the platform’s advertising business encountered unprecedented difficulties. Because of this, Musk has been forced to take proactive measures to revive its performance. However, since advertisers aren’t returning on their own accord, it seems Musk is adamant about arm-twisting brands on X to advertise on the platform.
More than two months ago, Elon Musk announced that most of his advertisers had returned to Twitter, and he showed optimism that all issues had been addressed. To revitalize X’s advertising division, he appointed Linda Yaccarino, a well-respected advertising executive, as the new CEO.
Recent reports suggest that Elon Musk plans to introduce a new approach regarding X’s gold verification badge. Under this strategy, brands must spend a minimum of USD 1,000 monthly on Twitter ads to maintain their gold verification badge. This move aims to incentivize brands to invest more in X’s advertising platform and revitalize the company’s ad revenue.
According to Business Insider, citing the Wall Street Journal, Twitter will begin removing the gold checkmark from businesses that fail to meet specific advertising spending thresholds.
Starting August 7, businesses must allocate at least $1,000 (approximately Rs 81,000) on advertisements within 60 days or $6,000 (Rs 4.9 lakh approx) within 180 days to retain the coveted gold checkmark. The Wall Street Journal has reviewed an email informing advertisers of this new policy.
In addition to the previously mentioned new policy, the recently rebranded Twitter, now known as “X,” reportedly plans to offer up to a 50 percent discount on specific advertisements.
As per the existing X’s verification plans introduced in January of this year through a blog post, businesses were already required to pay a monthly fee of $1,000 to maintain their gold verification badge on the platform.
With these recent developments, X appears to be implementing various measures to incentivize businesses to invest in advertising on the platform while also providing discounts to attract advertisers.
