Since Elon Musk took over the management of Twitter, the platform has become an unsuitable environment for advertisers, and the result was an unprecedented withdrawal of advertisers from the platform most of its advertising revenue for fear of their brands being swept into the chaos that is happening, and many began to wonder where advertisers are spending the millions of dollars they were spending in Twitter?
One option that some advertisers have made is to redistribute that money across other platforms, so which platforms are making the most from Twitter’s chaos right now?
The Snapchat application benefits greatly from the cessation of advertising spending on Twitter. Last October; While traffic to ads.twitter.com decreased by 19%, traffic to ads.snapchat.com increased by 47%, according to data from digital analytics firm Similarweb.
The Social Element is one of several ad agencies that have advised clients to pause ad spending on Twitter in the first weeks of Musk’s tenure. Since then, the agency has required clients to use Social Listening Tools to find out which alternative platforms their audience is using.
Tamara Littleton, CEO of the agency, told Digiday: “If the main audiences of our clients are leaving Twitter because of what is currently happening; Maybe we will invest more in (TikTok) TikTok, where the community is much more welcoming and it is a fun place for brands.”
As Graeme Douglas, co-founder of Bicycle London, said: “It usually recommends that the client redistribute the advertising budget to other channels if they have a primary goal that they need to achieve.” But he noted that customers are increasingly cautious at the moment.
Aside from the chaos that occurred on Twitter, the global economy is currently witnessing a lot of events and this has led to a decrease in advertising spending in general across all platforms, so all brands are currently seeking to spend wisely on the platforms with the greatest impact.
Other platforms entering the competition:
Many platforms have begun to take advantage of what is happening on Twitter now, to promote themselves as the safest alternative currently. (Concert) Post via LinkedIn last week in an effort to capitalize on Twitter’s misfortunes.
AJ Frucci wrote on LinkedIn: “For any marketers pausing or reallocating ad spend on Twitter right now: Concert is a safe and effective alternative that delivers premium brand ads in reliable and trustworthy media environments, we’re open. To work in the fourth quarter and we will make your brand look good.”
It is worth noting that the Concert platform was established in 2016 as a partnership between Vox Media and NBCU to provide innovative advertising solutions that are effective and specific to the target audiences, as (Vox Media) is distributed through its eight distinguished brands in American media, namely: The Verge, and Vox, SBNation, Eater, Polygon, Racked, Curbed and Recode Dynamic ads that adapt specifically to each target audience. By combining premium technology and engaging video with digital journalism, the company delivers ads that advertising partners can trust.
The Pinterest platform also tried to participate in the event, as Adam Tilian, vice president of media services at the digital marketing agency New Engen, states that the representative of Pinterest at New Engen sent the team a document titled “Competition to Win: The Twitter Edition.”; In it, he outlines how Pinterest provides a trusted and secure environment for brands and specifically calls out concerns people may have about Twitter today.
The underlying message in the document appears to be: “If you leave Twitter, we can help you address these concerns here at Pinterest where you will be safer.”
A lot of platforms are currently taking advantage of the opportunity to appeal to brands that have stopped their advertising on Twitter, by showing that Twitter has become an unsafe environment, and instead other platforms are becoming safer for brands no matter how effective they are.
Advertising agencies have also had to redouble their operations and production efforts to create local content for other platforms, most notably: TikTok.
All this and Musk is still continuing his controversial policies on a platform whose revenue comes mostly from ads, so will we witness the collapse of Twitter soon, as experts expect?