Elon Musk makes a tough move to pull back advertisers

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Since Elon Musk took over as CEO of Twitter, most of the top advertisers on the platform have stopped Twitter ads. Their reason is that Musk will go soft on content moderation. This means that all sorts of “hurtful” comments may be allowed in their ads. However, Elon Musk is doing all he can to bring all or most of them back. Twitter is now offering major brands a very lucrative and specific offer to attract them back to the Twitter space. Twitter said in an email to ad agencies that the company will launch “the largest ad incentive program ever ” in December. It will also reward additional exposure if advertisers spend a certain amount.

Advertisers who spend between $500,000 and $1 million on Twitter will receive matching bonuses, the email said. Those who spend $350,000 in ad placements will get a half bonus – half of the impressions you’ve already purchased. Also, those that spend $200,000 will get a quarter bonus. Twitter also gives the same offer to U.S. brands in an email to another ad agency. However, the offer is slightly lower for brands in the U.K. and elsewhere. Emails show that Twitter’s latest offer will last until the end of December. The company also invite major brands and ad agencies to communicate by phone.

Major brands like United Airlines and General Motors have stopped placing ads on Twitter. In addition, ad companies such as Omnicom Media and Interpublic Group also recommend that clients pause, taking a hit on Twitter’s $5 billion business.

No comment from Elon Musk or Twitter

These days, we get first-hand direct info regarding Twitter from the CEO himself, Musk. However, regarding this report, there have been no comments from him. Also, there is no official statement from Twitter in this regard.

Musk, a self-described “free speech absolutist,” allows people to say anything on Twitter as long as it complies with the law. However, “Negative/Hate Speech” will not be boosted by the system. The company has moved away from prioritizing disinformation related to COVID-19, but said in a tweet on Wednesday that its policy has not changed and that its trust and safety team remains “strong and well-resourced”. 

While Twitter’s offer is decent, some brands were not tempted, according to internal reports. An executive at an ad agency said the move “will not affect advertisers’ decisions”. “It reminds me of the guy who played the violin on the Titanic,” said another agency executive. “I don’t think any client would take the risk”. However, if one or two clients take the risk and it pays off, then they will all run back.