Elon Musk has been urging advertisers to return to Twitter by offering them generous incentives.
Advertisers are returning to Twitter, according to Elon Musk. Twit Chief Musk took to Twitter to thank advertisers who are joining back.
Just a note to thank advertisers for returning to Twitter— Elon Musk (@elonmusk) December 4, 2022
This comes after Elon has been urging advertisers to resume their spends by offering them generous incentives in a bid to boost business. Since then, Apple and Amazon have reportedly returned to the platform.
Twitter was home to some of the top advertising spenders including Amazon, Chevrolet, Chipotle, Ford, Jeep, Volkswagen, General Motors, and General Mills. The platform has lost nearly half of its top 100 advertisers ever since Musk’s takeover. According to a report, the top advertisers have spent nearly $2 billion in advertising on the platform since 2020 and dropped to $750 million in 2022 alone as of Nov 21. The brands had significantly slowed advertising to almost nothing.
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Elon Musk even waged a ‘war’ with Apple, when it paused its advertising spends. He later resolved differences by meeting Tim Cook, CEO of Apple Inc. and planned out the biggest advertising incentive to lure all of them back to the platform.
Advertisers have expressed their concerns about their brand safety with the new content moderation reforms taking place on Twitter and Elon Musk is trying his best to display ‘how alive the system actually is’. In a Tweet, he mentioned that Twitter has hit a new record of 90 billion Tweet impressions per day. He also claimed that there’s been a decline in hate speech despite the user growth on the platform. He said that Twitter has seen a significant decline in hate speech impressions to less than 0.1% starting from the middle of October 2022 to the end of November 2022.
With this, Elon Musk has been trying to reassure its advertisers that have left after his takeover. Despite his note of thanks, none of the advertisers have made a comment on the return so far.