Who remembers the dismissal of about 80% of its employees? Or the introduction of measures like limiting the number of posts and direct messages? Regarding the rebranding, the announcement came after a series of mysterious tweets from Musk, unveiling the new name and logo. The shift to “X” reflects Musk’s vision to transform Twitter into a “complete app” or “super app,” similar to the Chinese WeChat, incorporating not only social interactions but also financial and shopping functionalities.
The choice of the letter “X” aligns with Musk’s vision, as he has used the same letter in his manufacturing email list company, SpaceX. For many marketing experts, the change was a mistake as it destroyed a brand built over 17 years, along with various other criticisms and memes that emerged after the rebranding announcement. And why did so many brands rebrand in 2023 again? You’ve probably noticed that since COVID-19, the world has been undergoing significant and increasingly accelerated changes.
A study by Hanover Research showed that 75% of companies underwent a brand overhaul since 2020. Another survey by UPCity in 2022 concluded that 51% of companies changed their visual identity since the COVID-19 pandemic. What has motivated these companies to invest in this type of repositioning? From what I’ve gathered studying the subject, I arrive at two main points: necessity and opportunity.