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175 Elon Musk’s New Category Design For Twitter: Will it work?

Wednesday 6th December 2023
LOM_Episodes-175 Elon Musk Twitter Strategy

On this episode of Lochhead on Marketing, myself and Eddie Yun, co-founder & co-creator of Category Pirates, tackle what’s going on with what Elon Musk is now doing at Twitter; specifically, the move to charging people for their Validation Verification– once coveted, now purchasable – Blue Checkmarks.

This is part of a new thing we’re doing with our Category Pirates newsletter called Pirate Perspectives. So if you are interested and haven’t subscribed to Category Pirates yet, now’s the best time to check it out.

Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind.

Twitter removes the Blue Check. Kinda.

The conversation starts with Christopher and Eddie Yoon discussing Twitter’s recent decision to remove Legacy Blue Checkmarks and only allowing verified accounts for those who pay. Eddie argues that this move is a step towards aligning Twitter’s incentives with its users by making them pay for the service rather than monetizing their data through an advertising model. However, he suggests that Twitter could offer a tiered pricing structure to accommodate different budgets.

The two acknowledge that this move has caused a lot of controversy, with some users upset about losing their Legacy Blue checkmarks, while some are given Blue checkmarks even though they didn’t ask for one. Christopher mentions that Elon Musk paid for verified accounts for Stephen King, LeBron James, and others, and they are angry about the change given their prior stance about it.

Elon Musk and the missed opportunity with repurposing the blue checkmark

Christopher and Eddie then talk about the recent decision by Twitter to remove the blue checkmark verification for some users. Christopher mentions that he appreciates the verification process before because it helps him identify real people on the platform.

They also discuss the success of OpenAI’s GPT chat and the importance of delivering a valuable user experience. Eddie agrees and mentions that incentivizing creators can improve the overall ecosystem by improving content and reducing fraud. They agree that Elon Musk and Twitter missed an opportunity to position the repurposing of blue checkmarks as an improvement to the user experience rather than a takeaway.

To hear more about these category pirates’ hot takes on what is happening to Twitter and the social media space, download and listen to this episode.

Bio

Christopher Lochhead is a #1 Apple podcaster and #1 Amazon bestselling co-author of books: Niche Down and Play Bigger.

He has been an advisor to over 50 venture-backed startups; a former three-time Silicon Valley public company CMO and an entrepreneur.

Furthermore, he has been called “one of the best minds in marketing” by The Marketing Journal, a “Human Exclamation Point” by Fast Company, a “quasar” by NBA legend Bill Walton and “off-putting to some” by The Economist.

In addition, he served as a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard acquired the company in 2006, for $4.5 billion.

He also co-founded the marketing consulting firm LOCHHEAD; the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive.

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We hope you enjoyed this episode of Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on FacebookTwitterInstagram, and subscribe on iTunes!