Threads, a social media platform with similar functions to Twitter, reached 100 million users in less than a week after a launching. Third-party estimates indicate that Twitter traffic has dropped significantly since Threads became available.
The launch of the platform has stirred up an already hot rivalry between the heads of the two companies, Mark Zuckerburg of Meta and Elon Musk of Twitter.
Musk accused Zuckerburg of using trade secrets and stealing employees from Twitter to work on Threads. “Don’t want to leave you hanging by a thread… but Twitter, you really outdid yourselves! Last week we had our largest usage day since February,” said Twitter CEO Linda Yaccarino in a tweet Monday afternoon. “There’s only ONE Twitter. You know it. I know it.”
Despite the rapid growth and millions of signups, it’s too soon to determine the longevity of Threads, “Whether they actually become engaged users or not, it will take a while to know,” said Evercore ISI analyst Mark Mahaney. From advertisers’ perspective, Threads could gain an advantage over Twitter given Meta’s strength in this area, he added.
Like Twitter, Threads will serve as a communication tool for brands to reach their audience. With Twitter’s history of quick retorts to customers’ tweets and relevant, real-time updates, Threads will most likely mimic this template and allow brands to further connect with their followers.
Threads users must have an Instagram account to join. They can import followers upon signup when prompted. This feature could prove to be a barrier to entry if a potential user does not already have an Instagram account.
It didn’t take long for c-stores to join the millions downloading the app. 7-Eleven signed up within the first week and has nearly 76,000 followers. Wawa, Kum & Go, Sheetz and Maverik are among the convenience retailers on the platform.
Not sure how to leverage social media or which platform to use to boost your brand’s awareness and engagement? Read Leveraging Social Media Impact on the NACS site to understand how to navigate the landscape.