There have been some significant changes to the social media landscape this summer. As Twitter evolves into X and continues its transformation under Elon Musk, Meta has launched Threads, a microblogging site linked with Instagram that effectively broke the internet, with 30 million people registering for the app within a day of its launch.
What should your brand be doing as the landscape continues to change? Let’s break it down.
Twitter Becomes X
In July, Twitter owner Elon Musk and CEO Linda Yaccarino announced that the platform would rebrand as X and shift its focus to “payments, banking, and commerce.”
This is just one of many monumental changes Musk has made since taking over the helm, from charging for verification to putting limits on how many tweets users can view.
— Elon Musk (@elonmusk) July 25, 2023
It’s been making an impact. Pew Research Center reports that 60% of U.S. Twitter users said they have taken a break of “several weeks or more” from the platform over the past year.
Additionally, Musk himself said Twitter has lost approximately half of its advertising revenue under his control. However, the platform is still trying to keep advertisers and users engaged, even offering advertisers a 50% discount on ad packages in order to reignite interest.
Should Your Brand Be on X?
If your brand still has an engaged audience on the platform, it’s worth staying on X for the time being. Twitter was a niche platform to begin with, but gave companies a quick and informal way to connect with customers and fans, which is likely to continue for the foreseeable future.
However, before you sink too many resources into your brand’s presence on X, be aware that more changes will likely be coming down the pipeline as the platform continues to establish a new identity.
Meta Launches Threads
The microblogging landscape has become even more complex as Meta has launched Threads, “an app built by the Instagram team for sharing with text.” Similar to Twitter, the platform encourages short-form sharing and allows images and videos to accompany text.
Meta has stated they are working to make Threads compatible with other apps including Mastodon, WordPress and Tumblr, allowing Threads users to interact with audiences on these other platforms without having to leave the app. While this kind of decentralized social activity is intriguing, time will tell whether audiences are receptive to the trend.
Threads grew exponentially upon launch, but activity on the app has since slowed down considerably. Currently, less than half of the users who registered for a Threads account are still active on the platform, but Meta has plenty of planned features that could give the platform a boost in the coming months.
Should Your Brand Be on Threads?
Unlike other emerging platforms, there isn’t a rush to get on Threads. Because your Instagram username (and verification, if applicable) carry over on to Threads, you don’t have to worry about securing your brand name before someone else gets the chance.
However, if your brand has an engaged audience on Instagram and your brand voice lends itself to short and witty, it’s worth at least experimenting with Threads to help reach your followers in a fun, new way.
What do you think of all these recent changes to the social media landscape? Let us know over on X!
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