Since Elon Musk took over at Twitter, an increasing number of advertisers have suspended activity on Twitter, while staffing cuts, changed policies and fake accounts have created chaos.

According to DigiDay, “GroupM, the world’s largest media buying agency, is telling clients that Twitter is now a ‘high risk’ media buy following a barrage of controversies, U-turns and confusion that capped off Elon Musk’s second week as the owner of the social network.”

There are also concerns about stability at Twitter amid massive layoffs, including top executives and reports that indicate a significant decline in the company’s most active users.

With changes to its verification process and policies that may increase hate speech, Twitter seems to be offering more reputational risk instead of opportunity. Consider the impact when a fake Eli Lilly account – with a blue check mark indicating it was authentic – posted that insulin is now free. Eli Lilly stock fell 4. 37%.

All these factors are causing companies to re-evaluate their use of Twitter. And not just advertising.

A recent Inc. article asserts that companies focused on protecting their brand, retaining talent, and shoring up their customers should consider putting Twitter on hold.

Olin Business School marketing expert, Michael Wall shared that all organizations should “closely monitor the situation to minimize risk to their brands.”

He continued by saying that while it may be difficult for corporations to walk away from Twitter if it is an important communication channel for the organization, “if changes occur that lead an organization to move away from the platform, my position is that they can still achieve their objectives in other channels.”

Marketing strategies and activities must support a company’s business and communication objectives, such as driving revenue, attracting and retaining talent, securing investment, and building thought leadership and brand reputation.

To meet these objectives, companies need to assess what strategies, platforms and approaches will reach their target audiences effectively and efficiently and align with their corporate values.

Businesses that provide customer service via Twitter or determine the channel is critical in reaching their user base, or customers may decide to continue to utilize the platform. And as Wall suggests, those organizations should consider, “How can we become a positive influence in the channel and a leader in its appropriate use?”

As Twitter continues to change in the coming weeks and months, we expect many marketers and communicators will continue to revisit their use of Twitter to determine if the platform still makes sense for their brand.

For those considering moving away from Twitter, Brian X. Chen, with The New York Times offers futher guidance, “How to Prepare for Life After Twitter.”