Table of Contents
- Introduction
- The Transformation of Twitter to X
- Selection Methodology
- Case Studies of Retail Brands on X
- X by the Numbers
- Implications for Social Media Marketing
- Conclusion
- FAQ
Introduction
In a digital age where social media defines brand identity and customer interaction, the role of platforms like X (formerly Twitter) is under scrutiny. A recent study of 100 retail brands with over 130 million combined followers on X revealed startling insights into how these companies are using—or neglecting—this once-dominant social media platform. Despite its potential, these brands collectively posted fewer than 850 times in the first three weeks of July 2024. This article aims to understand the reasons behind this trend and explore the broader implications for social media marketing.
The Transformation of Twitter to X
In April 2022, Elon Musk acquired Twitter and rebranded it as X. The transformation came with relaxed content restrictions and significant changes to the platform's functionalities. However, these changes were met with mixed reactions. By the end of 2022, several brands had distanced themselves from X. Companies such as H&M and Macy's stopped using the platform, leaving behind millions of followers. This mass exodus signaled a shift in retail brands' social media strategies.
Selection Methodology
To quantify the impact of this shift, a list of 100 retail brands with X accounts was curated. Initially, Google's Gemini AI generated a list of 180 companies. After filtering out errors, duplications, and brands with fewer than 1,000 X followers, a refined list of 100 brands was finalized. Each company's follower count, last posting date, and posting frequency in July 2024 were recorded, revealing surprising trends among these retailers.
Case Studies of Retail Brands on X
Chanel
Chanel, one of the most prominent luxury brands, had the third-largest following amongst the 100 brands, with 13.2 million followers. However, Chanel ceased posting on X in late 2022, following Musk's acquisition. Despite this, Chanel remains robust on other social media platforms like Instagram, Facebook, YouTube, and LinkedIn, with a cumulative follower count of over 85 million. This indicates that while Chanel has opted out of X, its overall social media presence remains strong and strategically diversified.
The Home Depot
In contrast, The Home Depot leveraged X for a "Halloween in July" campaign, posting 24 times and generating over 754,000 impressions from 438,000 followers. While the campaign's monetary value might seem modest at approximately $7,540, the engagement levels suggest potential for brand-specific, well-targeted campaigns on X, provided the content resonates with the audience and is cost-effective to produce.
Magic Spoon
Magic Spoon, a high-protein cereal brand, last posted on X in May 2024, despite relatively high engagement levels. With only 3,315 followers, its posts garnered an average of 1,640 impressions each, equating to nearly half of its follower count engaging per post. Comparatively, Magic Spoon's Instagram engagement was significantly lower. This case highlights X’s potential for smaller brands to achieve high visibility and engagement without relying on massive follower counts.
PlayStation
PlayStation stands as an outlier, consistently utilizing X with frequent postings. With an average of five posts per day, PlayStation's 38 million followers engage heavily with their content, generating almost 1.6 million impressions within 24 hours on their five most recent posts. This high-frequency posting strategy, particularly with video content, showcases the platform's capability to drive substantial engagement for brands willing to invest in regular and dynamic postings.
X by the Numbers
X remains a formidable platform with 556 million monthly active users in 2023, a testament to its enduring popularity. Although Facebook and TikTok surpass it with 2.9 billion and 1 billion active users respectively, X holds a distinct advantage in user engagement. With users spending an average of nearly 35 minutes daily on X, the platform only trails YouTube and TikTok in user engagement metrics.
Implications for Social Media Marketing
The dynamics of X suggest that while the platform is underutilized by many retail brands, it holds untapped potential for those willing to navigate its unique system. Brands like PlayStation exemplify how high-engagement strategies can succeed on X, while others, such as Chanel, demonstrate that a withdrawal from X does not necessarily hinder a robust social media presence.
Conclusion
The hesitance of retail brands to embrace X highlights a broader challenge in social media marketing—balancing platform-specific strategies with overall brand objectives. While X is sidelined by several brands, the success stories of The Home Depot, Magic Spoon, and PlayStation illustrate its underexploited potential. For retail brands, the key lies in strategically assessing the ROI of their social media efforts on X and realigning their content to leverage the platform’s high engagement levels. As the digital landscape evolves, the brands that adapt their strategies to optimize engagement on platforms like X will likely lead the next wave of social media innovation.
FAQ
Q: Why have many retail brands stopped using X?
A: Many brands left X due to dissatisfaction with changes following Elon Musk's acquisition and rebranding. Concerns about platform management, content restrictions, and engagement metrics contributed to this trend.
Q: Can smaller brands benefit from using X?
A: Yes, smaller brands can achieve high visibility on X. The case of Magic Spoon shows that even brands with relatively small follower counts can generate significant engagement and impressions.
Q: Is frequent posting necessary for success on X?
A: Yes, X thrives on frequent posts. Brands like PlayStation that post regularly see higher engagement levels compared to those that post sporadically.
Q: Are video posts more effective on X?
A: Video content tends to perform better on X, offering higher engagement rates. This is evident from PlayStation’s high engagement rates with almost all their posts being videos.
Q: What is the future of retail brands on X?
A: The future will likely see a mix of strategies. Brands that can create engaging, platform-specific content and measure ROI effectively may find X to be a valuable component of their social media strategy.
