07 Aug Should Your Business Be On Threads?
You may have noticed that the social media world has been in a bit of a tailspin following the launch of a new app called Threads. The newest addition to the social media roster is the brainchild of Mark Zuckerberg and was unveiled by Meta on 5 July. Described as a “text-based conversation” app, the release caused such a stir that the new platform received 10 million registered users in the first seven hours of its release, even finding itself trending on Twitter – its direct competitor.
The platform has gained major attention, garnering a staggering 100 million active users in just five days. While Twitter has been the go-to text-based tool for many social media marketers, Elon Musk’s extensive overhaul of the social media platform has resulted in criticism from both users and businesses.
While Threads has the potential to rival Twitter, the thought of adding yet another social media platform to your strategy may be the one thing causing you to stay clear of the latest platform.
What is Threads?
In order to answer the big question, we need to answer another crucial question – what is Threads? Basically, Threads is Instagram’s new text-based conversion app that allows users to create posts up to 500 characters in length, letting you add links, images and videos. It’s fully integrated with the photo-sharing app, and you need to have an Instagram account to access Threads. It’s this direct link to Instagram that has made the new platform one of the fastest-growing apps since the release of Pokémon Go. It provides you with the option to transfer your Instagram profile easily, along with information and followers, making the sign-up super simple.
The simplicity of Threads may have you itching to hop onto the bandwagon, but is this simply another fad or should your business hop on the Threads train sooner rather than later?
To help you make an informed decision, here are a few pros and cons to take into consideration:
PRO: It’s Still New
The early bird catches the worm is true in the case of social media too. Many brands currently reaping the rewards of platforms such as Twitter, LinkedIn or Instagram will tell you they started early. A major goal of any social media app just starting out is to flood the platform with tons of users. As such, the platform prioritises organic content over paid ads. This allows a social media platform to nurture loyalty and entice users while also ensuring their users enjoy the benefits of higher engagement and impressions. Ultimately, starting early allows you to capitalise on the algorithm and reach a wider audience.
PRO: Because Content is King
There have been endless comparisons between Twitter and Threads, but unlike the former, Threads does not have hashtags, direct messaging, or a “For You Page” that shows recommended content. Threads is a micro-blogging platform that allows text posts and replies, and this can provide a huge advantage for businesses. Customers want to know that there are humans behind your brand, and this new platform can help you engage with your audience in a new and interesting way. A carefully thought out Thread could help communicate your brand’s personality or goals. It’s a good way to captivate your audience if you have a good story.
PRO: Take a Risk
What do you have to lose when signing up to Threads? This new platform has the potential to see your business grow exponentially, but you won’t know unless you give it a go! Each social media platform allows you to showcase your brand’s personality in a different way, so your business may not get the engagement on TikTok the way it would on Threads or Instagram. A great way to see which platform works for you is to conduct experiments to determine what you can achieve. If you’re looking to expand your horizons and have the time, Threads may be the opportunity you’ve been waiting for.
CON: There is No Data or Analytics
At present, Meta has no plans to integrate Threads into its Meta Business Suite before 2024. This could be frustrating for marketers, as data and analytics remain the backbone of helping create an effective marketing strategy. Without essential performance data, such as impressions and reach, businesses can’t assess the value and potential ROI of Threads. Unfortunately, this makes it incredibly difficult to determine what works and what doesn’t on the platform, which could leave you throwing in the towel.
CON: Just Another Clubhouse
Clubhouse is a social audio app launched in 2020 that enjoyed significant success, attracting 40 million active users at the height of its popularity. It provided users with a chance to engage with different users, giving entrepreneurs and other individuals a chance to network, host panels and meet new people. Unfortunately, the app no longer enjoys the same level of popularity, and it has had to pivot several times in the last three years. While Threads seems to be doing quite well at the moment, there is no way to determine whether it will enjoy the same level of success three years down the line or in the next decade. Only time will tell!
How your brand should use Threads?
Zuckerburg says Threads will “foster a positive and creative space” for users, with the added intention of creating “an open and friendly public space for conversation.” These statements have appeared to influence the way brands are using the platform. For example, the Checkers Threads account shares popular memes and light-hearted questions.
So, should your business be on Threads? Every brand understands that they need to be where their customers are, and there are currently millions of users on the platform. However, the app is still in its infancy, and businesses will need to determine whether it’s worth investing their time and money into Threads. On the other hand, there are advantages to adopting social platforms like Threads early on, and investing time and energy now could prove fruitful in the future. With this in mind, businesses will need to make a deliberate decision on whether they are “in” or “out” and create a strategy that supports this decision.
Speak to SOMS Digital Agency about helping you create a social media strategy for your business.