TOO EARLY TO TELL…
Since the launch of #Threads by #Meta yesterday, 06 July 2023, a number of journalists and clients have reached out to me to discuss the impact on businesses. The short answer is that it’s too soon to assess or predict the impact of #Threads on businesses. But, there are some features that businesses can explore today. For now, this is what I can share.
Like most social media platforms, #Threads has and would have a large number of active users. Within a day of launch, it already had over 70 million active users. I expect the number to grow quickly because its new and trendy, and it’s part of the beast called Meta which owns #Facebook, #Instagram, #WhatsApp etc. One of the cool things I love about #Threads is that it is easy to sign up using your Instagram account. I predict that the number of active users would reach over 500 million within a month.
· The high number of active users makes #Threads a great platform where businesses can share their content to reach and engage their audience. However, until it starts enabling businesses to place Ads on the platform, it would be impossible for businesses to create and target specific audience groups with their products and services. The conversion rate of any post on #Threads would continue to be low until targeting is enabled.
· Another great feature that businesses should explore is that, unlike Instagram, it allows users to post clickable links so businesses can use it to drive traffic to a destination on your website etc.
But, again, it’s too early to consider its impact on businesses because:
· Businesses cannot advertise on the platform yet so they can’t target specific audience with your posts.
· Also, if it is intended to compete with #Twitter, it lacks a feature like Twitter Spaces which is great for conversations about brands.
These are my thoughts today, only a day after the launch of #Threads. But, if I am to make a prediction, based on how Meta has built #Facebook, #Instagram and #WhatsApp and made them powerful tools for business growth, I would say that expect the beast to roar very soon.