In a surprising move, Twitter ‘s iconic ‘Blue Bird’ logo has been replaced with a black and white X mark, as part of Elon Musk’s rebranding strategy for the social media giant, which he acquired last year. Some experts have expressed mixed opinions on this decision, with some supporting Musk’s bold move while others see it as a risky venture.
Marketing professor Yanhui Zhao from the University of Nebraska Omaha suggests that rebranding can be beneficial for a troubled company seeking a complete transformation. According to studies, more than half of publicly listed companies that underwent rebranding achieved good profits afterward. Musk’s ambitious plan seems to involve turning Twitter into an “everything app” akin to China’s WeChat, where users can send money, book taxis, and play games.
— Elon Musk (@elonmusk) July 25, 2023
On the other hand, marketing professor Shubha Srinivasan from Boston University’s Questrom School of Business warns that rebranding might be less likely to succeed during a time when the company is facing turmoil. Twitter’s recent struggles with declining brand value and aggressive business practices may pose challenges to this daring move, especially with emerging social media competitors like Thread.
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Elon Musk’s vision for the rebranded Twitter, now known as “X,” is to broaden its functionality and appeal beyond its traditional use as a platform for short texts. He aims to transform it into an “everything app,” similar to WeChat, which offers various services to its users. However, experts point out that this transformation will require significant investments in time, money, and personnel.
Our headquarters tonight pic.twitter.com/GO6yY8R7fO
— Elon Musk (@elonmusk) July 24, 2023
While some experts believe that Twitter’s challenges existed even before Musk’s takeover and support taking risks for necessary changes, others, like Professor Jean-Pierre Dube from the University of Chicago’s Booth School of Business, believe that the issues are more related to leadership problems rather than the brand identity itself.
The rebranding decision has left Twitter users and industry watchers divided. Some see it as a potential masterstroke that could revitalize the struggling platform and open new opportunities, while others express concerns about the risks involved and fear it might alienate users who had faith in the original Twitter brand.
As the transition unfolds, all eyes are on Elon Musk’s strategies and whether his vision for Twitter as ‘X’ will indeed lead to a successful transformation or if it will face further challenges in the competitive social media landscape.
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