It was only a few weeks ago when Mark Zuckerberg, in a thrilling clash of titans, introduced Threads – a touted ‘Twitter killer’. The hype was immense, the media were ablaze with speculations and a record-breaking 100 million users rushed to the platform in a matter of days. It seemed like Elon Musk’s Twitter was about to face a formidable rival. Maybe the mainstream media got it right in the third, or possibly, fourth guess since Elon Musk took it over. But, alas, the rocketing ascent of Threads was soon followed by a dizzying plunge. Today, we delve into what went wrong with Threads and why you, as a small business, should think twice before investing your time and resources in it.
The Meteoric Rise and Abrupt Decline
Backed by Zuckerberg’s Meta and associated with Instagram’s vast user base, Threads had the recipe for an overnight sensation. And indeed, it skyrocketed, reaching 100 million users faster than any app in history. However, the initial excitement was ephemeral. In less than two weeks, user interest declined dramatically.
The numbers, as unforgiving as they are, lay bare the reality of Threads’ predicament. Google Trends, a reliable index for gauging online interest, shows a significant drop in searches for Threads in just a week following its launch. Concurrently, app analytics revealed a sharp decline in user engagement, with daily active users and time spent on the app reduced by 20% and 50%, respectively.
A Big Launch, Yet Small Impact
Despite its initial massive sign-ups, Threads failed to retain a significant portion of its users. By July 17th, the total count only increased to 114 million, a disappointing figure given Instagram’s 2 billion active users. In essence, Meta convinced less than 6% of Instagram’s user base to jump on the Threads bandwagon, many of whom did not stick around.
Compare this to the explosion of interest in ChatGPT, a novel AI-powered product that garnered substantial attention upon launch. Unlike Threads, which relied on its existing billion-user base, ChatGPT was an unknown entity that captivated users with its innovative offering.
A Failed First Impression
Threads’ shaky start is not without reason. The app, despite its grand promises, seems half-baked. It lacks Twitter’s core features, such as hashtags, and fails to comply with EU regulations, losing out on a vast European audience. Silicon Valley behemoths often mistake themselves for startups, rushing to release underdeveloped products and tarnishing their reputations in the process.
Moreover, the rushed release, lack of key features, and non-compliance with regulations meant Threads fumbled at its first impression. Less than 10% of active Instagram users sampled the app, with a mere half sticking around after a week.
Why Investing Your Efforts in Threads Could Be a Misstep?
As any business navigating the digital era knows, the choice of a platform for brand promotion is crucial. Choosing the right platform could be the difference between your brand’s message reaching your intended audience or getting lost in the digital abyss. The latest entrant in the world of microblogging platforms, Threads, has seemingly attracted much attention but has also raised serious questions about its viability as a brand-building tool. Let’s examine why businesses should be cautious about investing their resources in Threads.
Temporary Hype, Permanent Damage
One of the most significant risks that businesses face when they move too quickly to a new platform is the transitory nature of digital trends. Threads, in its initial days, attracted a massive user base riding the wave of hype. However, user engagement declined rapidly in less than two weeks, mirroring the fleeting nature of digital trends. For businesses looking to build long-term relationships with their customers, such ephemeral trends can damage their brand reputation and customer trust. Investing in Threads, therefore, is akin to building a castle on shifting sands.
Limited User Base
Although Threads managed to attract an impressive 100 million users in just five days, it is worth noting that this number constitutes less than 6% of Instagram’s user base. Moreover, Threads’ non-compliance with EU laws rules out a considerable chunk of potential users. For businesses, this limited reach restricts their potential to expand their customer base and limits their growth opportunities.
Lack of Key Features
Another significant factor that businesses should consider is the lack of key features in Threads. Crucial elements of microblogging platforms, such as hashtags, are glaringly absent from the platform. This omission significantly impacts the discoverability of content on the platform, making it difficult for businesses to reach new audiences and grow their brand visibility.
Unpredictable Future
Finally, the future of Threads remains uncertain. The steep drop in user interest and engagement in the initial days paints a bleak picture of the platform’s sustainability. Investing resources in a platform with an unpredictable future could lead to wasted effort and financial loss for businesses.
In Conclusion
Threads seemed poised to disrupt the microblogging world. Instead, it now teeters on the edge of being the fastest tech flop in history. Amid the hype and high expectations, the app failed to deliver an engaging and fully-developed platform that could rival Twitter.
While Threads’ spectacular launch initially appeared promising, its rapid decline raises significant concerns about its long-term viability. If you’re looking for a new platform to grow your business, it is essential to consider the stability, reach, and features of the platform, all of which are currently lacking in Threads. Threads is definitely not TikTok. Therefore, rather than chasing the latest digital trend, focus on proven platforms that consistently deliver value and offer a sustainable path to growth.