Just sixteen hours after its launch, Meta’s new text-based social network, Threads, has already shattered records with over 30 million signups. This meteoric rise has catapulted Threads to the coveted position of the number one free app in Apple’s App Store, solidifying its dominance as of 6 July 2023.
Twitter’s New Threat?
Threads aims to revolutionise the social media landscape by offering a compelling alternative to the established giant, Twitter. The app has faced numerous challenges since its acquisition by the multi-billionaire Elon Musk, and is now reportedly in the works of rebranding as ‘X’.
In response to this shifting landscape, several Twitter alternatives have emerged in recent months, such as the decentralized messaging app Mastodon and the upcoming Bluesky, backed by Twitter co-founder Jack Dorsey. However, these platforms have failed to match the colossal user base and widespread popularity of Twitter.
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It’s clear by the drop-off that people are seeing they can’t do as much, and there are certain things that they want to be able to do that perhaps they can do on other apps,
– Richard Hanna, Babson College Professor
Although Threads possesses a unique advantage in attracting users by leveraging the power of Instagram, a report from The Wallstreet Journal displays that the number of active users has dropped to only 13 million which is a 70% decline since its launch.
Another report by WSJ revealed that users are spending less time on the app overall. Engagement plummeted to 4 minutes per user, compared to the initial 19 minutes. On the other hand, users of Twitter continue to use it for 30 minutes on average each day. One could argue that the app’s inability to maintain user interest may be undermined by its lack of features like a topic search tool and a trending ideas section.
Marketing Opportunities
Despite its lack of excitement, Threads has the potential to offer a plethora of marketing opportunities for businesses. Global brands and top influencers from all industries have been flooding the app since its launch, notably Netflix, Disney, Nike, Sephora, MTV, and even the celebrated culinary star Gordon Ramsay. This could be a sign that Threads might be an app worthy to explore.
Let’s delve into some captivating ways in which businesses can leverage Threads to effectively reach their target audience:
Seamless Integration with Instagram
Brands and businesses are able to reach their current audience from Instagram without starting from square one.
Cultivate Meaningful Relationships
Threads offers a unique and intimate platform for businesses to connect with their customers on a personal level.
Target Specific Audience
By handpicking the individuals they wish to follow, businesses can ensure their message reaches the right group of people.
Future Opportunities
There is a high possibility that Meta may introduce ads to Threads, allowing businesses to reach more audiences.
While it is premature to determine its level of popularity, Threads possesses the inherent potential to captivate users seeking a more intimate and personalised means of connection for brands and its users. With room for improvement, we’re looking forward to seeing if the promising app can dethrone the pioneering powerhouse Twitter.
