“Threads was released in early July, and within five days, became the fastest app to reach 100 million downloads — but it has since lost about 85% of its daily active users, said digital analytics firm SimilarWeb. Threads now has fewer than 10 million daily active users; in contrast, X had nearly 238 million daily active users in July 2022”, notes LinkedIn News.
Indeed, the Threads hype went down. You hardly create a new tribe of customers when the product is a clone of a popular product (here, Twitter, now called X). Typically, creating fandom happens when you offer a new basis of competition, by offering something really new to users. Category-king companies pioneer new vistas in markets and chart their paths to financial glory. They go for the perceptions of customers, and not just the needs.
Remember: never scale a product until you have found a product-market fit. If you do not follow that, users will come, become disappointed, and then will leave. Advertising money does not retain customers; only products do!
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Now that Meta wants to add a web version of Threads, the new app could become relevant to more users. Simply, this principle works, whether a big or small company: you must create a value proposition for users to win them in the market battle.
Meta Platforms plans to launch a web version of microblogging app Threads early this week, the biggest new feature to be introduced on its competitor to Elon Musk’s X.
The desktop version would address one of the biggest of a long wish list of features users have sought for Threads. The text-first social-media app appeared on track to be a smash hit out of the gate when Meta launched a bare-bones version in early July, but use of it has plunged in recent weeks.
Users have been able to see specific Threads posts on the web but their access is limited, as the app is mostly geared for mobile phones.
Adam Mosseri, head of Instagram, said on Friday on his Instagram profile, that the web version of Threads would be launching soon and is already being tested internally at Meta. People familiar with Meta’s plans said it will launch early this week, although the launch plans aren’t final and could change.
“It’s a little bit buggy right now, you don’t want it just yet,” Mosseri said. “As soon as it is ready we will share it with everybody else.”
Meta rushed to launch Threads to take advantage of the growing interest for an alternative to X, formerly known as Twitter. Threads became the fastest app to reach 100 million downloads, hitting the mark in five days.
Yet, do not count out Threads because it is funded by a really deep pocket: Facebook’s Meta. They can decide to keep pumping money into it, just as they’re doing with WhatsApp which is amazing, and yet FREE in all sense of free. Just for that, I wish Threads well, and hopefully it can pick the shreds and thread back!
Comment on Feed
Comment 1: Your narrative is spot on, Scaling a product should only happen after achieving product-market fit. In my work with online businesses, I emphasize that they must initially gather a substantial customer base at a set acquisition cost. Additionally, those customers should actively use the product and it be something they are willing to share with their network before scaling becomes a consideration.
This was not really the case for ? threads, they never really got around getting people to use the app and what to use the app for exactly, I believe they will figure it out as they go along
Nice analysis
My Response: “I emphasize that they must initially gather a substantial customer base at a set acquisition cost. ” – a clinical great strategy which is like physics because it works.
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What happened with Threads in early July is the same thing you regularly witness when you build a new hotel, bar or supermarket and then send out invitations for the grand opening. On the day of opening, there will be people everywhere, both those who come for free food and discounts on offer; if you count all as your future regular customers, well you are on your own. If you want your outlets to be crowded after the opening day, you must keep offering whatever that can keep drawing people.
For now Threads remains an afterthought, it hasn’t even gained enough media attention, so it’s not really part of people’s lives yet.
Elon has over 150 million followers on his platform, how many does Mark have and who’s itching to see him post stuff? Not many people Mark as a thought leader or influencer, but Elon is a force of nature.