Twitter is Now X: What You Need to Know About the Rebrand

You may have heard the news that Twitter is changing its name to X. Not only that, but various elements of the platform, including the iconic bird logo, are gradually being replaced with the new X icon. Interestingly, this new logo was created by a fan and has been adopted by Twitter as an interim branding measure, as confirmed by Elon Musk. The new X icon is now live on the app and website, ushering in a new era for the platform. 

A complete X rebrand has not happened yet, which begs the question – why start pushing out a half-baked idea when it’s not ready to be fully rolled out? Additionally, what does this mean for your business and social media strategy? Keep reading for everything you need to know about this change. 

Why “X”? 

The history of X dates back to the late 1990s when Elon Musk was establishing himself as the founder of a payments start-up. Initially, the start-up was intended to be named X.com, a name that Elon persisted with even after his company was acquired by PayPal. This was all part of his grand vision to build a robust payment and banking infrastructure for a larger website, which would enable a wide range of transactions, starting with simplified funds transfer.

Musk had a vision to take PayPal to new heights and create a powerful super app. However, his plans to expand beyond PayPal were never realized. Elon eventually left PayPal to pursue other ventures, and his ambitious idea, known as “X,” was put on hold. That is, until last year when he acquired Twitter. This acquisition reignited his dreams of creating an all-encompassing “everything app.”

What changes are coming, and will X be successful? 

Currently, X has only changed its logo, but it will take some time for the platform to fully update its branding. Musk has also announced a future update that will change the default color of the app from the well-known Twitter blue to black. This update aims to give the app a fresh start and differentiate it from its previous version, potentially erasing years of brand equity that Twitter had established. While some analysts have raised concerns about this decision and its impact on the business, Musk remains confident in his own approach. 

When Musk bought the app last year, he shared his vision for an “everything” app where users could chat, shop, consume content, and more. He also expressed to Twitter employees that the app should be like China’s WeChat, where he said users “basically live on” the app because “it’s so usable and helpful to daily life.”

Elon Musk’s original plan for X seemed promising. However, numerous attempts by social media platforms and other apps to integrate payments and shopping have failed over the years. This failure can be attributed to regulatory limitations, lack of user interest, and flawed system integrations, among other factors. 

Platforms have struggled to obtain the necessary approvals to facilitate payments and bypass existing banking systems. Governments take these matters seriously due to safety concerns, pressure from influential industry groups, and the increasing rates of online fraud. Meta, for instance, has faced significant pushback in its efforts to facilitate universal payments. Considering Musk’s status as a divisive political figure and his vested interests in various industries, it is hard to imagine him receiving the green light from the authorities.

With time, it’s possible Musk’s vision for X could gain traction. However, the plan for the platform is currently very vague. Musk and X CEO Linda Yaccarino have stated that X will facilitate payments and banking, allowing for all types of transactions to be managed on the platform. 

What this means for advertisers

Musk is making efforts to regain the trust of advertisers by reposting their ads to his massive following of 150 million users. Additionally, X is warning brands that if they don’t maintain their regular ad spend, they may lose their newly acquired gold checkmarks. This approach is unique to X as it focuses on implementing selective rules related to “free speech” and usage, all while prioritizing the need for brands to continue investing in the app. However, some concerns have been raised regarding the emphasis on advertising rather than other aspects.

As Twitter seemingly approaches its final days, a new era is about to begin for the app, which will dramatically change the social media landscape. However, what that era will entail remains unknown. For now, continue to operate on social media as normal! As updates come in, our team is on standby to answer any questions and guide your brand in the right direction. 

Ready to have a successful social media strategy? Call, DM, or email us at sbellem@bbrookstone.com to get started. We would love to help your business stay up to date on the latest tactics and tools to be successful.