Twitter in turmoil: Reputational disaster or transformational opportunity?
Raising concerns about Twitter’s future, many companies are suspending their activities on Twitter, while some are already leaving the social media platform following Elon Musk’s takeover. Although it is unclear what the future may hold for Twitter, could this situation destroy Twitter’s reputation or is it a chance to reinvent itself. Dr Anastasiya Saraeva explains.
Another controversial story has unfolded in an already highly divided world. It has been over a month since Elon Musk walked into the Twitter offices as their new owner. This has already triggered mass layoffs, controversial decisions such as reinstating former US president Donald Trump’s account, and new paid subscription rules. The unprecedented media coverage of Musk’s antics appears detrimental to the reputation of not only Twitter but Musk himself, and of companies that are still closely associated with the social media giant.
According to the Axios Harris Poll 100, a ranking of the reputation of the companies most on the minds of Americans, Twitter’s reputation has already seen a decline – from 89th rank in 2019 to 98th in 2022 (interestingly, 100th position is taken by The Trump Company). At the moment, the uncertainty and ambiguity of Musk’s decisions contribute to Twitter’s poor reputation. Reputation research and practice indicate that corporate reputation possesses vital buffering qualities, and particularly in turbulent times, it can act as a shield to protect organisations. Unfortunately, Twitter hasn’t been successful in maintaining a strong reputation, and the social media behemoth lacks the protection of one of the most important intangible assets.