Created as a direct competitor to Twitter, Threads by Meta has been released and has immediately taken the world by storm, but how can businesses use the app as leverage?
Threads has had a strong take-up since its launch, hitting 100 million users in five days, and it is already looking at reaching the 200 million mark.
Evercore, an investment banking advisory firm, predicts that the app is set to make $8 billion for Meta by 2025.
Thousands of businesses are already joining the Threads app to see how it can be used to reach their target audiences.
Meta describes Threads, an extension of Instagram, as an app built for discussions and public conversations, with similar limitations to Twitter with 500 character limits to each post.
Mark Zuckerberg, CEO of Meta and Founder of Threads, says the new platform is made for everyone whether they are a creator or a casual poster.
“Threads offers a new, separate space for real-time updates and public conversations,” says a Meta spokesperson.
“Our vision with Threads is to take what Instagram does best and expand that to text, creating a positive and creative space to express your ideas.”
But signing up to the app is the first step, how does one utilise the app in leveraging their business?
One of the first users on the app, Lucy Blakiston, Creator and Founder of the New Zealand-based media and news platform, Shit You Should Care About, was lucky enough to be invited to the app three days prior as a tester.
From there, she was able to gauge out what the app was going to be like in terms of tone and was even able to interact with CEO of Instagram and Mark Zuckerberg himself.
Being one of the first users of the app, Blakiston has been able to say that the best strategy to the app for businesses is “no strategy allowed”.
“Anyone trying to form a “Threads strategy” is missing the point. Unhinged thoughts only,” she says.
Melanie Spencer, CEO of social media specialist agency Socialites, agrees with Blakiston’s opinion on the early version of Threads, but with how rapid social media changes “we need to be able get ready to leverage the platform with laser focus”.
Read more: Stitching together Threads first 24 hours
“Hold on the strategy but get ready to build it out in the very near future,” she adds.
But there is definitely potential in Threads being an advantage for businesses to grow, with Spencer adding that it “revolutionise” how businesses connect with their customers and stakeholders.
Threads can be used to create a ‘Business Network’, where updates and announcements can be communicated at lightning speed.
“Whether you’re sharing product updates, exclusive offers, or juicy company news, Threads allows you to talk directly to your target audience in a clutter-free environment. No more getting lost in the abyss of irrelevant messages,” says Spencer.
It can be a place to “rub shoulders” with like-minded businesses and professionals in the same realm where insight and collaboration can be present.
“Expanding your network through Threads can lead to valuable partnerships, exciting collaborations, and who knows, maybe even new business opportunities. The possibilities are endless,” Spencer adds.
Spencer says Threads can also be a channel for customer support, decreasing long waiting times with instant and personalised support to provide timely resolutions.
“We all know the importance of customer service to growing a business,” she adds.
Spencer says the best thing to do right now is to watch and learn from the app while still looking for opportunities and trends to hop on.
“Have fun with it because we know Meta will be watching and learning as well. There’s no harm in creating a strategic framework and start filling out observations during its infancy stage,” says Spencer.
“Get ready for Threads to be a big player in the social media game and needs to be thought of as a main player in New Zealand. Twitter hasn’t really taken off in New Zealand, but I have a strong inkling that Kiwis are going to hop on the Threads freight train.”