Twitter rebrands… and other digital stories

Ready to delve into the latest news from the marketing sphere? Let’s uncover the hottest digital trends, social news and groundbreaking tech discoveries together… 

Twitter takes on a rebrand but loses 50% of ad revenue…

In a bizarre turn of events, Twitter’s transformation has taken a rather peculiar path. Under the ownership of Elon Musk, the social media giant is shedding its familiar identity, changing its name to ‘X’, and sporting a new default colour – black. Even tweets will no longer be tweets; they’ll be ‘X’. Musk’s grand plan is to create an ‘everything app’ that will become an integral part of billions of users’ lives. 

The name ‘X’ has been with Musk since the late ‘90s, but many wonder if this radical shift will pay off or drive the app further into obscurity.

Meanwhile, Musk’s takeover has had some unfavourable consequences for Twitter’s revenue. Since Musk took the reins, the platform has lost 50% of its ad revenue. This financial blow comes hot on the heels of Meta’s rival app Threads, which is gaining momentum with 115 million users worldwide, rapidly catching up to Twitter’s 535 million user base.

In recent months, critics have questioned Twitter’s long-term viability as an advertising platform under Musk’s leadership, as he made controversial decisions regarding banned users, content moderation and introduced a paid-for-verification option that flooded the app with ‘fake official’ parody accounts. 

With an eye-watering $13 billion of debt and aggressive cost-cutting measures, the stability of Twitter’s business model is being scrutinised.

Amidst these challenges, Musk’s recent appointment of Linda Yaccarino as CEO could be a glimmer of hope to steady the ship and revitalise growth. 

Whether Twitter’s new ‘X’ era proves to be a billionaire’s pipe dream or a game-changer remains to be seen. But as the platform embarks on this bold journey, we can’t help but wonder if Musk and Yaccarino have some secret tricks up their sleeves to make ‘X’ a social media sensation once again. 

Only time will tell, and the unfolding chapters of the X era will keep us all tuned in.

New GA4 metrics to measure e-commerce analysis!

Good news for e-commerce users! Google Analytics 4 recently boosted e-commerce measurement capabilities by introducing 30 new dimensions and metrics. Now, marketers can delve into the nitty-gritty of items, promotions, and shopping behaviour like never before. Want to know which product attributes are making waves? Check out metrics grouped by item name, brand, category, promotion name, and more.

But let’s break down the exciting details, shall we? GA4’s custom report builder is now home to an array of e-commerce dimensions, including item affiliation, brand, category, ID, and location. This means marketers can analyse metrics by product, brand, and promotions to gain a more in-depth understanding of online revenue drivers.

And that’s not all; new e-commerce revenue metrics have joined the party, making life easier for online stores. You can now directly access crucial data like gross item revenue, purchase revenue and refund amounts without the hassle of calculating them through complex formulas.

They’ve also streamlined e-commerce metrics in GA4 explorations. Metrics like gross purchase revenue and refund amount have replaced existing ones, leading to a clearer and more meaningful representation of e-commerce data. It’s time to leave duplicative metrics in the past and embrace the new and improved GA4 experience.

With GA4’s help, you’ll be well-equipped to make data-driven decisions and unleash your e-commerce potential like never before!

How can businesses leverage Threads?

Threads, Meta’s new social media app, is already causing quite a stir in marketing. With big brands like Netflix, TGI Fridays, and Oreo making their mark on the platform, marketers are curious about leveraging this fresh marketing centre. So far, the strategy that’s gaining traction involves delivering witty and informal conversation starters with a hint of self-promotion.

Whilst marketers may have winced at the thought of adding another social media channel into the marketing mix, it looks like brands have taken a more informal approach to channel updates. 

Rather than focus on pushing products, services or brand messaging, they’re using the channel to showcase their personality in a more relaxed way. 

For example, Oreo’s lighthearted “born to eat OREO cookies, forced to join a new social media platform” shows humour that taps into a current feeling but uses a tone that’s more relatable.

Its text-based conversation style sets Threads apart, requiring real-time text updates without an edit feature. This emphasis on authenticity is precisely what people crave from brands in a world dominated by posed and filtered Instagram posts. The rise of TikTok has amplified the value of sharing brief, real-time content, and Threads fits this desire for genuineness perfectly, allowing people to peek behind the curtain of their favourite brands.

Threads can fit into marketing strategies by nurturing and converting followers into potential buyers or clients without the need for hard selling. The platform empowers marketers to connect directly with users through posts, comments, and reposts, fostering relationships and brand loyalty. 

Engaging in relevant discussions and sharing insightful information on Threads establishes brand presence and shapes a positive brand image in a dynamic and interactive environment.

Marketers have a unique opportunity to embrace this new approach to marketing, embracing authenticity and genuine connections to create a lasting impact and drive engagement. 

It feels like Threads will allow brands to be more personality-driven than brand promotional-based. It would offer the perfect opportunity to get closer to customers in a more personable way.