The period of 2022-2023 was one of the most tumultuous and transformative times for Twitter Ads, directly impacted by Elon Musk's acquisition of the platform in October 2022 and its subsequent rebranding to "X" in July 2023. This period saw significant shifts in leadership, policies, and advertiser sentiment.

Here's a breakdown of the key updates and changes:

I. Pre-Acquisition (Early 2022):

Before the acquisition saga fully unfolded, Twitter was making strides in its advertising offerings:

Twitter Pixel & Conversion API (CAPI): These were already in place and being improved, allowing advertisers to better track website conversions and offline events, similar to Facebook's pixel. Twitter emphasized using first-party cookies for more accurate matching.

App Purchase Optimization: Tools were being enhanced to help advertisers optimize for in-app purchases and installations.

Website Conversion Optimization: Focused on improving the ability for advertisers to reach users most likely to convert on lower-funnel website actions (e.g., add to cart, sign-up), claiming potential reductions in cost per conversion.

Dynamic Product Ads: Allowing advertisers to showcase relevant products to the right audience.

New Ad Formats/Improvements: Continued refinement of existing formats like Promoted Tweets, Promoted Accounts, Video Ads, Carousel Ads, and Moment Ads.

More Granular Reporting: Tools like Supermetrics noted updates to metrics and dimensions, including "15s video views" and enhanced UTM parameter tracking.

II. The Elon Musk Acquisition & Immediate Aftermath (Late 2022):

The acquisition of Twitter by Elon Musk in October 2022 marked a dramatic turning point.

Mass Layoffs: A significant portion of Twitter's staff was laid off, including many in advertising sales, trust and safety, and engineering. This led to concerns about the platform's stability, content moderation capabilities, and advertiser support.

Changes to Content Moderation: Musk's stated goal of "free speech absolutism" led to the reinstatement of previously banned accounts. This, combined with reduced moderation staff, resulted in a perceived increase in hate speech, misinformation, and general toxicity on the platform.

Advertiser Exodus: Many major brands, including Coca-Cola, Jeep, Merck, and Unilever, paused or significantly reduced their ad spending on Twitter due to brand safety concerns and uncertainty about the platform's future direction. This led to a plummet in advertising revenues, reportedly more than 50% in 2023.

Twitter Blue & Verification Changes: The rollout of the paid Twitter Blue subscription, which included the blue checkmark, created chaos. Initially, anyone could pay for a blue tick, leading to widespread impersonation of brands and public figures. This further eroded advertiser trust.

Mandatory Verification for Advertisers: A significant policy change in April 2023 required all advertisers to pay for Twitter Blue or Verification for Organizations (a more expensive option for brands, initially $1,000/month) to continue running ads. This was a move to boost subscription revenue but was met with frustration by many advertisers.

III. Rebranding to "X" & Continued Evolution (2023):

The rebranding to "X" in July 2023 signaled a broader ambition for an "everything app," but also continued the turbulence for advertisers.

Focus Shift: While advertising remained a core revenue stream, there was a clear push towards diversifying revenue with subscriptions (X Premium tiers) and data licensing.

Algorithm Changes: While details were often opaque, algorithm shifts were noted, impacting content visibility and potentially ad performance.

Community Notes on Ads: The "Community Notes" feature (formerly Birdwatch), which allows users to add context or debunk misinformation, began appearing on Promoted Tweets. While potentially good for fighting misinformation, it also added another layer of uncertainty for advertisers.

Emphasis on Video: X continued to emphasize video content, with video consumption growing rapidly on the platform. Early adopters of vertical video ads reportedly saw lower CPMs.

Phasing Out Promoted Accounts Ads: There was a shift away from the "Follower Objective" ad type (Promoted Accounts), with X signaling a focus on more interactive formats.

Link Preview Changes: X altered how link previews were displayed, removing headlines and preview text, retaining only the header image. This aimed to change how users interact with shared links and encourage more native X-specific posts.

Attempts to Regain Advertisers: X made efforts to bring advertisers back, including offering ad credits to SMBs (e.g., $250 credit for spending $1,000). Leadership also claimed that "almost all advertisers" had returned, though revenue figures suggested otherwise.

Declining Trust in Ads: Reports indicated a significant drop in trust in X ads among users (from 22% in 2022 to 12% in 2024), likely due to brand safety concerns and the increase in problematic content.

In summary:

The 2022-2023 period for Twitter Ads was characterized by unprecedented disruption and uncertainty. The acquisition by Elon Musk led to a significant decline in advertising revenue as brands pulled back due to concerns over content moderation, platform stability, and new policies (like mandatory verification for advertisers). While X attempted to introduce new features and court advertisers, the overall sentiment remained cautious, marking a challenging period for its advertising business.