Morning Brew - ☕ For the birds

What do marketers think of X?
July 25, 2023

Marketing Brew

It’s Tuesday. Twitter—we mean X—usage is at an “all-time high,” according to newly installed CEO Linda Yaccarino. That doesn’t exactly square with Similarweb data that shows drops in user retention and web traffic, but, uh, sure.

In today’s edition:

—Jasmine Sheena, Minda Smiley

SOCIAL MEDIA

Marketers ask Y

Twitter bird logo flying into an X Francis Scialabba

Twitter has rebranded to X, scrapping its iconic blue bird logo.

Its website now features an “X” where the bird logo once was, and the official Twitter account now features a new X logo in its profile picture. “And soon we shall bid adieu to the Twitter brand and, gradually, all the birds,” Elon Musk tweeted over the weekend.

According to Twitter CEO Linda Yaccarino, the rebrand is part of a larger pivot for the app, “transforming the global town square.”

“X is the future state of unlimited interactivity—centered in audio, video, messaging, payments/banking—creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we’re just beginning to imagine,” she tweeted on Sunday.

Yaccarino “laid out the vision for X at a meeting with top marketers” on Sunday in Napa, California, according to the Financial Times. Still, some advertisers are not sold on the rebrand. “My first reaction was, ‘Is this a joke?’...Honestly, I think it’s idiotic,” Matt Egan, managing director of strategy at brand experience firm Siegel+Gale, said. “From a branding point of view and a marketing point of view, it just seems like a crazy idea.”

Egan described it as a “pretty bold move, and pretty irresponsible” considering the value of Twitter’s brand. “The one asset that it has is its brand,” he explained, adding that the company has only occasionally turned a profit since it was founded. “Apparently he wasn’t buying the brand, but a lot of the goodwill and a lot of the value in that company is tied up in its brand.”

Read what other marketers had to say about the rebrand here.—JS

     

FROM THE CREW

AI: Friend or foe?

The Crew

From HAL to Skynet, AI gets a bad rap. With its fast rise, buzzy headlines, and seemingly limitless potential, it’s hard to know if AI will help us or upend us. A pressing question on many employees’ minds: Will AI take my job?

MIT researchers offer a picture of the future of AI in the workplace. Read Tech Brew’s explanation of what artificial intelligence is capable of, what its probable use cases are, and the implications for your job. Hint: Predictions might be more complex and hopeful than you might expect. Read or listen here.

AGENCIES

Bottom line

IPG imagery Olivier Anrigo/Getty Images

Publicis and IPG reported Q2 earnings last week; the former posted continued growth and the latter revealed another dip in revenue.

  • Publicis posted a 7.1% increase in organic revenue, while IPG saw a 1.7% decrease during the quarter.
  • Both holding companies revised their full-year forecasts: Publicis bumped its organic growth guidance to 5% from the 3%–5% range it forecasted last quarter. Meanwhile, IPG decreased organic growth expectations to between 1% and 2% for 2023, after forecasting 2% to 4% growth last quarter.

In an earnings release, IPG CEO Philippe Krakowsky said ad spend within the tech sector has weighed “significantly on growth” this quarter. Krakowsky also cited the impact of “modestly heightened macro uncertainty,” though he said the company saw growth in sectors including healthcare, PR, and experiential.

According to Publicis, new business wins, as well as its data and tech offerings, contributed to growth in Q2. LVMH North America awarded Publicis its media accounts in May, and the company won Adobe’s global media accounts in March.

Last week, Omnicom said its organic revenue grew 3.4% YoY during the quarter. As the Wall Street Journal noted, both IPG and Omnicom missed analyst expectations during the quarter as clients in the tech and telecom sectors pared back spending. A Wells Fargo analyst told the publication that IPG’s organic revenue fall, paired with Omnicom’s slowdown, could signal “gathering clouds for ad agencies.”—JS

     

MARKETING

Coworking with Karen Graham

Karen Graham, CMO at Evite Karen Graham

Each week, we spotlight Marketing Brew readers in our Coworking series. If you’d like to be featured, introduce yourself here.

Karen Graham is CMO at Evite. Previously, she was VP of marketing at Nordstrom Rack and Hautelook.

Favorite project you’ve worked on? Last year I spearheaded Evite’s rebrand, where we set out to reposition and relaunch a beloved 25-year-old legacy brand following a global pandemic. I love a good challenge, and this one was a complete rehaul, touching everything from the visual style guide, the site and app, the tone of voice and strategy and messaging across ads and marketing channels, as well as the invitation designs themselves. I’m so proud of how we accomplished this modernization to set the brand up for the next phase of Evite and its role in helping to set a new direction for the company.

What’s your favorite ad campaign? Airbnb’s TV ads do such a great job of highlighting real experiences and the wonderful memories that are made from taking trips. They’re able to seamlessly marry the digital nature of the platform with real vacations and time spent together in a natural and inspiring way. They also do a great job of highlighting the unique and memorable properties that are tied back to its platform and categories, which is a differentiator for the brand.

What’s one marketing-related podcast, social account, or series you’d recommend? Social Media Marketing Podcast with Michael Stelzner, which has informative interviews with experts that cover topics like building your YouTube community and the best TikTok ad strategies, but also covers more timely topics like the best AI tools for marketing copy and design.

     

SPONSORED BY PAYSAFE

Paysafe

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FRENCH PRESS

French press Morning Brew

There are a lot of bad marketing tips out there. These aren’t those.

Stumped: What to post on LinkedIn when you’re all out of ideas.

TextTok: TikTok is expanding into text-based content, so read up on what that’ll look like in the app.

Like and subscribe: Get up to speed on Instagram’s expansion into subscriptions for creators.

JOBS

Are you an exec looking to make your next career move, or join a Board of Directors? We've partnered with ExecThread, where you can find thousands of confidential job opportunities & Board roles that aren’t listed anywhere else. Check out roles like:

JOINING FORCES

two hands shaking Francis Scialabba

Mergers and acquisitions, company partnerships, and more.

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Written by Jasmine Sheena, Minda Smiley, and Kelsey Sutton

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