Is Your Business Missing Out on Threads by Meta? Exploring the Benefits of the Twitter Alternative
Is Your Business Missing Out on Threads by Meta? Exploring the Benefits of the Twitter Alternative
July 21, 2023
As Meta’s platform Threads receives its first major update, it’s essential for business owners and marketers to consider whether they are missing out on the app which is becoming known as “the new Twitter”.
Threads, created by Meta and launched on the 5th of July, shares similarities with Twitter in terms of user experience, focusing on sharing updates and engaging in public conversations and is quickly gaining popularity, surpassing 100 million users within its first five days.
While many have signed up, most brands don’t yet have, or are struggling to create a cohesive strategy on how to use the platform. We’ll delve into its features, platform updates, and the benefits it can offer to businesses and marketers.
Understanding Threads
Since its launch it has quickly become one of the fastest-growing apps in history, achieving more than 100 million users within its first five days. Developed by the Instagram team the app requires an existing Instagram account to create an account on the platform. With a 500-character text limit, users can share updates while attaching images and videos. Sounds like Twitter!
Recent Platform Updates
Since its launch, Threads has actively addressed user feedback and issues through consistent updates, something Twitter is commonly criticised for being slow to adopt. Recent updates include;
👓 Translations!
👥 Follows tab on activity feed
🔔 Subscribe to unfollowed users
❤️ Activity feed scrolling + loading improvements
👀 Following + on thread replies page
👆 Tappable reposter labels
📸 Open the IG followers list
🔧 Fewer crashes with increased stability
🐞 A handful of other small bugs
As well as Instagram chief Adam Mosseri also hinted at future additions such as a following feed, an edit button, and post-search functionalities. Many have been reluctant to use the app until a true ‘following’ feed is introduced.
The Benefits of Threads for Business Owners and Marketers
Many brands are still hesitant about how they should be actually using the app. Some standout features we think will help the undecided:
Audience Insights:
Threads leverage Instagram’s existing user base, allowing marketers to access valuable demographic and engagement data on their audience. This insight can help businesses develop tailored content to strengthen their relationship with followers on both platforms.
Early Market Access:
Similar to the early adoption of TikTok, getting on Threads before competitors can provide businesses with a significant first-mover advantage. By establishing a presence and engaging with their target audience early on, companies can gain a strong foothold in a less saturated market. Many brands have adopted this strategy, but without a clear idea of what type of content to post. as the platform evolves, this will become clearer.
Future Monetisation Opportunities:
Although Threads currently lacks immediate monetisation plans, it is possible that this could change as the app evolves. By establishing a dominant position in their niche on Threads, businesses can be well-prepared to capitalize on future monetisation features and stay ahead of competitors. Advertising early on Threads could prove cheaper than other platforms (owing to less competition), with access to large swathes of the same Meta-owned audiences, as well as those who’ve jumped ship from Twitter.
Seamless Cross-Pollination:
For businesses experiencing strong engagement on Instagram, Threads offers a perfect platform for cross-pollination of successful topics. By expanding the discussion to Threads, marketers can further develop their community and foster deeper connections with their audience.
Despite huge initial traction, it’s not all rosy. Reports indicate that usage of the app since launch has as much as halved, with users citing a lack of original content. If brands want to thrive on the platform, doing more than resharing content seen on other channels might be key.
All in all…
As Threads continues to grow, business owners and marketers should not underestimate its potential. By leveraging your Instagram audience and embracing the new benefits early market access, getting on this app could help give you a competitive advantage.
If you’re unsure whether Threads is right for your business:
Sources
- https://time.com/6292957/threads-fastest-growing-apps/
- https://about.fb.com/news/2023/07/introducing-threads-new-app-text-sharing/
- https://www.forbes.com/sites/siladityaray/2023/07/10/with-100-million-users-in-five-days-threads-is-the-fastest-growing-app-in-history/
- https://creators.instagram.com/blog/introducing-threads?locale=en_GB
- https://www.verdict.co.uk/threads-active-users-drop-revealing-lack-of-original-content/