Threads — the best social network for business or a Twitter clone?
What is Threads? History and figures of the social network
Threads is an American social network owned by Meta Platforms, similar to other microblogging platforms, like Twitter. Users can post and share text, images, and videos, and interact with other users’ posts via replies, reposts, and likes.
On July 5, 2023, Meta officially launched a new social network, Threads. On the first day, Threads gathered thirty million users, surpassing the previous record set by ChatGPT and becoming the fastest-growing platform in history.
Today, the social network’s audience exceeds 115 million users and continues to grow.
Chart from the QUIVER QUANTITATIVE website
Is Threads relevant for business?
Threads is a Twitter clone, but that does not mean you should only choose one of these platforms. Despite the visual and functional similarities, Threads can and will compete for new audiences that do not use Twitter or have never used it, and this is your chance to introduce your products and services to them.
Many well-known companies, media outlets, and opinion leaders have already created accounts on Threads and started to adapt their content to the “new” social network. AdAge (an American magazine dedicated to advertising) has created an article about brands already established themselves in the application.
We can say that there is a big potential for using a Threads app for business growth, and we recommend that you talk to your SMM department about registering on the platform if you have not already done so.
What businesses should register on Threads?
To decide whether using Threads for your business is the right choice, you need to consider the following:
- Whether your ICP/target audience is on this social network. You can do this on Instagram by simply looking at your followers’ profiles. If most of your followers have a Threads account (in the header of their Instagram profile) and post or reply to other people’s threads, your audience is already there.
- Whether this is consistent with your brand’s position, mission, and values. If you position yourself as an innovative company that always follows trends and is interested in new products, why haven’t you signed up yet?
- Whether you will be able to adapt your content and tone of voice to this platform.
If you answered yes to these questions, create an account on Threads for your business and post content there since your audience is waiting for you.
Can I make money on Threads?
Many people are interested in ways to make money on Threads, but it is important to understand that this is a social network with no direct monetization features (and, most likely, it will not have them in the future).
How do I use Threads for business?
You can use a Threads app for businesses quite similarly you did with Twitter:
- Raising brand awareness: Threads allows companies to expand their audience and increase brand awareness.
- Customer feedback: The platform enables quick and direct communication with customers. This allows you to receive instant feedback on products or services and improve customer relations by answering their questions and solving problems that arise.
- Partnerships: Twitter and Threads allow businesses to connect with other companies, partners, and industry experts. This can open up new opportunities for collaboration and business development.
- Crisis PR: Threads can be an effective tool for monitoring and management in times of crisis, allowing brands to respond quickly to negative situations and mitigate their impact.
However, it is important to remember that you need to develop a strategy and analyze the results of your actions to use Threads for business as efficiently as possible.
Will there be advertising on Threads?
Currently, there are no ads on Threads, but the company generates almost all of its revenue by selling advertising slots on its services. Mr. Zuckerberg stated that they will start thinking about monetization after reaching the 1 billion users mark, but it is safe to say that advertising will be there.
How do I create a Threads business account?
Currently, the social network’s features are limited, so you cannot create a profile specifically for business on Threads. However, third-party platforms for analyzing your Threads account may soon be available.
Will Threads kill Twitter?
It is likely that it will. Twitter has about 450 million monthly active users, while Instagram has more than 2.35 billion. This is a resource that Mr. Zuckerberg can and will use. Also, let’s not forget that Facebook killed Myspace, and Instagram killed Snapchat by simply copying and improving their features. So, the same thing could happen to Twitter.
Does Threads have a future?
Despite its early success, Threads remains a relatively raw app. It still needs many features that users like on Twitter, such as a desktop version, direct messages, trending topics, and the ability to edit posts. But Meta executives have already hinted that they plan to continue developing Threads.