{"id":2480,"date":"2024-09-20T13:38:23","date_gmt":"2024-09-20T18:38:23","guid":{"rendered":"https:\/\/capertongillett.com\/blog\/?p=2480"},"modified":"2024-11-19T16:45:44","modified_gmt":"2024-11-19T22:45:44","slug":"how-to-set-5-billion-in-brand-equity-on-freaking-fire","status":"publish","type":"post","link":"https:\/\/capertongillett.com\/blog\/how-to-set-5-billion-in-brand-equity-on-freaking-fire\/","title":{"rendered":"Twitter, X, and How to Set $5 Billion in Brand Equity On Freaking Fire"},"content":{"rendered":"\n<p><a href=\"https:\/\/capertongillett.com\/blog\/2023\/07\/27\/so-xtra-people-dunking-on-twitter\/\">I\u2019ve never embraced the \u201cX\u201d branding as a <\/a><a href=\"https:\/\/capertongillett.com\/blog\/2023\/07\/27\/so-xtra-people-dunking-on-twitter\/\" target=\"_blank\" rel=\"noreferrer noopener\">replacement<\/a><a href=\"https:\/\/capertongillett.com\/blog\/2023\/07\/27\/so-xtra-people-dunking-on-twitter\/\"> for \u201cTwitter.\u201d<\/a> Honestly, I\u2019ve never even really gotten into the \u201cX, formerly known as Twitter\u201d rap common to Actual For-Real journalists and commentators, because if over a year into the platform\u2019s rebranding, people haven\u2019t grasped that X was formerly known as Twitter, I\u2019m pretty sure that means it\u2019s <em>still<\/em> known as Twitter.<\/p>\n\n\n\n<p>Amid their rebranding process, X-formerly-known-as-Twitter took its sweet time shifting from \u201ctweet,\u201d as a verb or noun, to the generic \u201cpost.\u201d (I do enjoy that the prompt text in the tweeting window has gained an exclamation point, because <em>\u201cWhat is happening?!\u201d<\/em> is a pretty apt question these days.) And with that change in mind, <a href=\"https:\/\/www.facebook.com\/noah.lugeons\/posts\/pfbid0285x2L7bsgpZwgFPY9FnizDKiZjLu1b3jSZq7X4rfgiqAtkL8pdeoJPE2jr5XkHAHl\" target=\"_blank\" rel=\"noreferrer noopener\">author Noah Lugeons proposed a repurposing<\/a> of the abandoned branded term.<\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fnoah.lugeons%2Fposts%2Fpfbid0285x2L7bsgpZwgFPY9FnizDKiZjLu1b3jSZq7X4rfgiqAtkL8pdeoJPE2jr5XkHAHl&#038;show_text=true&#038;width=500\" width=\"500\" height=\"291\" style=\"border:none;overflow:hidden\" scrolling=\"no\" frameborder=\"0\" allowfullscreen=\"true\" allow=\"autoplay; clipboard-write; encrypted-media; picture-in-picture; web-share\"><\/iframe>\n\n\n\n<p>He ain\u2019t wrong. Giving journalists a generic, platform-agnostic term for short messages on Twitter\/Threads\/Bluesky\/etc. has a lot of merit to it, and, not gonna lie, giving a middle finger to Elon Musk in the process is just gravy.<\/p>\n\n\n\n<p>(Ironically, <a href=\"https:\/\/www.searchenginewatch.com\/2011\/10\/11\/twitter-settles-lawsuit-gets-tweet-trademark\/\" target=\"_blank\" rel=\"noreferrer noopener\">Twitter fought pretty hard for \u201ctweet\u201d in the early aughts<\/a>, arguing against two startups that got to \u201ctweet\u201d before Twitter was able to secure a trademark. Twitter argued that \u201ctweet\u201d was already famous before startup ad service Twittad used it in a tagline, and Twittad argued that \u201ctweet\u201d was actually invented by users and thus open season, and then they settled for an undisclosed amount of money and Twitter got the trademark. Oh, how the turns have tabled.)<\/p>\n\n\n\n<p>The problem Elon\/X\/Twitter\/whatever runs into \u2014 okay, <em>one<\/em> of the many problems \u2014 with the rebranding is that \u201cX\u201d is hard to make stick. <a href=\"https:\/\/www.law.com\/dailybusinessreview\/2024\/07\/19\/elon-musks-x-must-face-trademark-infringement-suit-brought-by-legal-ad-company\/?slreturn=20240820133126\" target=\"_blank\" rel=\"noreferrer noopener\">It\u2019s proving difficult, if not impossible, to trademark<\/a> because\u2026 it\u2019s a letter. And it\u2019s a letter that doesn\u2019t flow all that well in conversation. And while Twitter secured a vast portfolio of trademarked terms like \u201cretweet\u201d and \u201csubtweet,\u201d the change to \u201cX\u201d abandons that exclusivity in favor of the genericism of \u201cpost\u201d and that uphill trademarking battle. Widespread adoption of \u201ctweet\u201d as a generic verb \u2014 known as trademark erosion, a la \u201cKleenex\u201d or \u201cXerox\u201d \u2014 would only make it more difficult for Twitter to regain any brand differentiation should it ever decide to reverse its ill-advised rebrand.<\/p>\n\n\n\n<p>And regardless of how you feel about the creative\/aesthetic value of Xification, the plunge of the actual brand equity is measurable and hard to ignore. Beyond Twitter\u2019s overall value loss since it was purchased \u2014 <a href=\"https:\/\/fortune.com\/2024\/01\/02\/elon-musk-twitter-value-72-percent-drop-fidelity\/\" target=\"_blank\" rel=\"noreferrer noopener\">72%, as of January of this year,<\/a> per Fidelity \u2014 Twitter\u2019s brand equity has plummeted as well, by one estimation <a href=\"https:\/\/brandfinance.com\/press-releases\/the-decline-of-x-musks-rebrand-wipes-billions-in-brand-value\" target=\"_blank\" rel=\"noreferrer noopener\">losing $5 billion since its 2022 purchase<\/a> and dropping entirely out of Brand Finance\u2019s rankings for 2024.<\/p>\n\n\n\n<p>They coulda had a bad bitch.<\/p>\n\n\n\n<p>So, in light of that plummet in brand equity and threats to the exclusivity of the original brand, can the Twitter brand make a comeback? One question is whether the attempt would even be made \u2014 historically, Elon tends to be more of a doubler-down than a fixer-up in the face of controversy. There\u2019s also the concern that brand erosion and reputation damage during the platform\u2019s emo period mean it\u2019ll never fully regain the brand equity it\u2019s lost. (I mean, that one\u2019s pretty much a given.) The good news is that as long as people remain tweeting (through any application of the term) and haven\u2019t started, like, Xing or whatever, the de-brand will be a lot simpler than a full re-rebrand.<\/p>\n\n\n\n<p>And if anyone at Twitter were to ask my advice on their branding journey, which they totally might do someday, you don\u2019t even know, I would encourage them to act sooner rather than later to undo what they\u2019ve done. Every moment takes them further away from the branding Cmd+Z they really need, and also \u201cX\u201d is stupid and I hate it.<\/p>\n\n\n\n<p>What do you think? Feel free to tweet (generic) your opinions at me \u2014 on <a href=\"https:\/\/x.com\/CapeGCreative\" target=\"_blank\" rel=\"noreferrer noopener\">X-formerly-known-as-Twitter<\/a>, <a href=\"https:\/\/www.facebook.com\/capertongcreative\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a>, <a href=\"https:\/\/www.linkedin.com\/in\/acgillett\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn<\/a>, Threads, below in comments, or whatever social media platform blows your skirt up. We don\u2019t discriminate here when it comes to tweeting (generic), so by all means, tweet (generic) away.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I\u2019ve never embraced the \u201cX\u201d branding as a replacement for \u201cTwitter.\u201d Honestly, I\u2019ve never even really gotten into the \u201cX, formerly known as Twitter\u201d rap common to Actual For-Real journalists &hellip;<\/p>\n","protected":false},"author":1,"featured_media":2952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[14,17,32,73],"class_list":["post-2480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advertising-irl","tag-branding","tag-cautionary-tales","tag-fail","tag-twittering"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Twitter, X, and How to Set $5 Billion in Brand Equity On Freaking Fire - 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