In 2024, X's spotlight swings onto small and medium-sized businesses (SMBs). Elon Musk's direct words to major players caused waves last year, but instead of coaxing them back, X's game plan involves roping in more SMB ad partners to balance out the losses.
Tickling the egos of big-shot execs rarely wins hearts. So rather than courting them anew, X's committed to getting more SMBs onboard with a fresh, wallet-friendly "Verification for Organizations" package.
Gone are the days of forking out $1,000 monthly for a golden badge on the app that few opted for. Now, there's a sleek $200/month deal. It bags you the golden badge, priority support, X Premium+ perks, job listings through X Hiring, and more. That's almost everything from the full-priced package at a fraction of the cost.
Why stick to $1,000? The pricier package promises added reach for your posts and lets you allocate blue checkmarks to your staff. Sure, X might have diminished the checkmark's prestige, but the higher tier still offers more oomph for big brands, including extra ad credits.
Is it worth splurging $1,000 if you're ad-happy? Possibly. The math varies for each business.
Honestly, $200 is a far better deal for business verification. X should've offered this from the get-go, scrapping the ludicrous $1,000 price tag for gold checkmarks. After all, who cares about the checkmark's color if it's purchasable? It loses its trustworthiness. So why pay just to seem cool?
At $200, it's a steal. Yet, replacing revenue losses from smaller players will challenge X. The top 50 advertisers pumping $1 billion annually into in-app promotions - that's a gap to fill from $2 billion projected revenue.
Unless big brands return, which might happen if they value X as a brand promoter. Despite waning trust, it's still a massive exposure hub.
Ultimately, Elon's actions hold sway. If controversial content persists, X needs hordes of SMBs signing up for those golden ticks.