01/11/2023 Digital, Marketing and Public Relations, Social Media

How Twitter’s BIG Changes Affect Your Small Business

When it comes to social media, nothing stays the same for long. This is especially true for Twitter, which was bought by Elon Musk at the end of 2022. Here’s what you need to know and how it might impact you as a small business owner.

Many users saw a decline in followers.

In November and December 2022, many Twitter users saw drops in their follower counts coinciding with the social media platform’s new ownership. This was due to both people leaving the platform and Musk purging spam and scam accounts.

Not only were small business owners and companies affected, but even celebrities witnessed the decline. Actor Mark Hamill, best known for his role in the Star Wars films, reported a considerably high decline of nearly 6,000 followers over three days.

The number of global monthly users is predicted to fall by nearly 4% in 2023 and 5% in 2024 – more than 32 million in total – in declines forecast by the market research agency Insider Intelligence

Verification checkmarks are available to all.

Musk also launched a new subscription service in December 2022. As a result, verified accounts are classified using color-coded checkmarks: 

  • Gold for companies (a.k.a. Twitter Blue for Business)
  • Grey for government entities
  • Blue for individuals (celebrity or not)

You read that right! Anyone can now have a verified symbol next to their name. Twitter Blue is an opt-in, paid subscription that adds a blue checkmark to your account and offers early access to select features, like Edit Tweet, for $8 per month.

Your social media strategy may need a refresh.

NOW is the time to reevaluate your social media goals and plans. Is the platform still a fit for you or your company? Some users are leaving the platform due to these changes, while others see it as a new opportunity. The platform’s demographics will likely change, meaning your content should shift with it. 

TRIO can help navigate these ever-changing digital assets to ensure social media helps achieve your marketing goals. Contact us today!

Caroline Hendry

Caroline Hendry

Digital Marketing Specialist

©2024 TRIO, All Rights Reserved