Twitter: Most brands don’t want to pay for a verified account

The Capterra team wanted to know, so it surveyed 300 US marketing and advertising professionals in conjunction with the controversial $8 verification program’s relaunch today. 

They wanted to know what they thought about Elon’s paid verification programme, how they approach Twitter ads, the changes to verification status, and more.

First off, 53% of firms think they are unlikely to pay $7.99 per month for Twitter verification, according to data from Capterra.

To reduce the risk of impersonation, firms that currently have a blue checkmark will switch to a gold one. At some point, they’ll probably have to pay $8 per month to maintain that gold tick.

Indeed, respondents said they would be more prepared to pay for better user targeting, promotion opportunities, and app security than for verification.

Nevertheless, slightly more than half of the brands said they also thought verification served an important function.

In a world where more firms do indeed start paying $8 per month to maintain their checkmark in the app, the two data points when combined show a picture that is quite clear.

However, it depends on widespread uptake as well as how long Twitter provides brands before removing their checkmark if they choose not to sign up.

Almost two thirds of the current Twitter marketers claim that it is now risky for their brand to promote on the site.

Increased instances of hate speech, as well as misinformation and impersonation—the latter of which was a major issue with the initial implementation of Twitter’s improved verification plan—are some of the main issues.

While Twitter claims that overall hate speech is on the down, reports suggest that hate speech and misinformation have surged since Elon took over the app.

However, these worries don’t seem to be significantly changing people’s spending patterns on advertising, at least not at this time.

Less than 25% of participants said they planned to cut back on Twitter advertising, while 31% of firms said they would rather monitor the situation than halt their present ad efforts.

As this graph shows, over 3 out of 4 respondents think that if Twitter closes down, marketers will go to other major social media platforms like Instagram (76%), Facebook (75%), and TikTok (60%) instead.

On another note, ‘Legacy’ blue checkmarks will be phased out ‘in a few months,’ Elon Musk has reiterated.

There is no set timeframe, but brands will eventually be required to pay to maintain their checkmark.

Credit source:
By Andrew Hutchinson
Content and Social Media Manager
SocialMediaToday

Image Credit:
BOL NEWS