Meta Platforms, the parent company of Facebook, is determined to give its newest social media platform, Threads, a fighting chance in the competitive market.
The move comes after CEO Mark Zuckerberg revealed that the app faced a significant decline, losing over 50% of its users since its launch.
Threads initially made waves, becoming the fastest-growing app and amassing a staggering 100 million users within its first month.
However, sustaining that momentum has proved challenging, and the app is struggling to retain its user base.
While the numbers surpassed expectations, Zuckerberg acknowledged that it was not perfect.
During an internal town hall meeting, Zuckerberg labeled the drop-off as ‘normal’ and remained optimistic that improvements would come with the addition of new features.
Plans include launching a desktop version and integrating search functionality to enhance user experience.
Zuckerberg stated, “Obviously, if you have more than 100 million people sign up, ideally it would be awesome if all of them or even half of them stuck around. We’re not there yet.”
To address the issue of user retention, Chief Product Officer Chris Cox revealed that Meta was exploring ‘retention-driving hooks’ to entice users back to the app.
One strategy involves allowing Instagram users to access important Threads, aiming to increase user engagement.
The positive side is that Meta recently impressed investors with its revenue growth forecast, hinting at a potential comeback for the company.
Zuckerberg also expressed confidence in their progress with augmented and virtual reality technology for the metaverse, despite it not being ahead of schedule.
Threads entered the scene as a milder and safer alternative to Twitter, perfectly timed when Twitter imposed stricter rules and restrictions, prompting users to explore alternatives.
However, the app still lacks crucial features and must provide compelling reasons for users to make the switch.
For Threads to rival Twitter’s size, Jasmine Enberg, principal analyst at Insider Intelligence, suggested that Meta only needs 1 in 4 Instagram users to utilize Threads monthly.
Achieving this feat would require significant effort and innovation.
As ‘Twitter’ vanishes and Elon Musk reimagines it into the X app, encompassing various online activities, Threads could seize the opportunity to become the preferred choice for those seeking a cherished Twitter-like experience.
To achieve lasting popularity, Threads must concentrate on delivering a seamless user experience and offering unique value that sets it apart from its competitors.
