The social media landscape, including its major players, is constantly changing. This is why experts are continuously taking its pulse to determine who’s in and who’s out. Take Twitter for example. Are the rumblings of its demise true? Or, is it about to have its best year ever? Let’s explore both sides of the coin.
How Much Do Numbers Mean?
In his Entrepreneur article “Is Twitter Dead? Not So Fast My Friends,” Jason Parks poses this intriguing question to all of us. Maybe – and most importantly — why is this a question in the first place?
Just recently, Twitter had a stock decrease after it pointed the finger at advertisers for not increasing ad spending as quickly as originally anticipated. In addition to this bad news, Twitter’s active monthly user base has been on the decline since mid-2014. While it has a respectable 300 million users (says USA Today), it is smaller than Instagram and is one-fifth the size of Facebook. And, AdWeek reports Snapchat is the fastest growing social network in the history of social networks. How is it growing so fast?
Simply, it’s the work of people between the ages of 13 to 34, which represents an amazing 63 percent of Snapchat’s 100,000+ daily active users.
The success of social media today largely depends on Millennials and Gen Z, and some experts wonder if Twitter has what it takes, especially since Fast Company says Twitter users are tweeting less and less.
One question that arises frequently is whether Twitter is useful to begin with? Again, this depends on the individual company. Twitter can go a long way for a company with millions of followers, but it underperforms for small business owners with a B2B focus and an older demographic.
On the plus side, Twitter is exceptional in leveraging breaking news and trending topics. Nothing comes close to Twitter’s real-time coverage. Twitter also now has a deal with Nielsen that will “measure of the total activity and reach of TV-related conversation on Twitter.” There is clear synergy between Twitter and television shows and networks that feature live Twitter commentary such as ESPN.
Twitter will also always be the place for influencers and people that need to hear from them. Look at today’s political climate and the fact that we now rely on Twitter to hear from prominent leaders. If this social network becomes the source for breaking news and commentary from our nation, what happens then? Will news networks also be looking to Twitter for their sources? Will people visit Twitter more? Will new groups of users, like the lucrative younger demographics, now start to sign up on Twitter for the first time in droves? Time will tell and the next four years promise a wild ride for all social media junkies.
Is it possible to consider that Twitter, on the verge of possible extinction (in some people’s eyes) is now positioned to have its best year yet? In this New Year, we may see the emergence of Twitter in a way that no one anticipated before the general election votes were counted.
What do you think? Do you think Twitter was here to stay to begin with or do you think it just experienced a major game-changer that will inevitably alter the social media world? We would love to hear your thoughts on this very interesting topic!
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Reference: https://www.entrepreneur.com/article/274966