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According to media reports, Twitter said it would offer free ads to brands that advertise on its platform in an attempt to lure brands back to its platform after a significant drop in its advertising business. The platform is offering to pay advertisers up to $250,000 for their ads, according to emails seen by The Wall Street Journal, which first reported the news. An email revealed that by February 28, he had to pay the US$500,000 advertising fee in full.
Don’t Miss: Twitter Singapore’s Content Moderation Team Reportedly Cut
According to Musk’s tweet last November, Twitter’s latest initiative is to help the social media site see many of its top advertisers losing more than US$4 million a day. It was done while I was there. Musk was explaining why the company is making massive job cuts around the world. with the company’s trust and safety team that handles
Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.
Everyone exited was offered 3 months of severance, which is 50% more than legally required.
— Elon Musk (@elonmusk) November 4, 2022
Twitter Singapore also asked staff at its Singapore office to vacate the building last Wednesday night because there were problems with paying the rent. He reported that he was asked to resume work. The Singapore-based staffer was reassigned as his worker remotely within Twitter’s internal systems, the report added.
Almost 90% of Twitter’s US$5.1 billion in revenue in 2021 will come from advertising, according to The Wall Street Journal, so it’s crucial for Twitter to win back its advertisers if the brand wants to survive. Since the Musk acquisition, major brands like Balenciaga, Audi, Apple and Macy’s have removed advertising from their platforms.
Brands must use certain Twitter products, such as the recently released Keyword Avoidance Tool, to take advantage of Twitter’s latest incentives. This handy system allows advertisers to create a list of up to 1,000 keywords to prevent their ads from appearing above or below tweets containing those words.
MARKETING-INTERACTIVE reached out to Twitter for comment.
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