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BuckheadFunds > Marketing > Meta strengthens Threads offerings as usage unravels

Meta strengthens Threads offerings as usage unravels

News Room By News Room September 6, 2023 3 Min Read
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Meta has unveiled a slew of new features for Threads after the app’s user activity nosedived since its release.

More than half of Threads users have left the app since its July debut, Meta CEO Mark Zuckerberg reportedly told staff last Thursday, despite it reaching 100 million sign-ups in its first week. As of early August, the app had about 10 million daily active users, per analytics firm SimilarWeb.

On the brand side, the app has yet to announce advertising options, though marketers have used it for organic and sponsored posts. However, as Digiday recently pointed out, some marketers are questioning whether the platform is worth investing in at the moment. Earlier this summer, a survey of nearly 300 marketers conducted by Capterra found that 70% of marketers “wouldn’t invest in a Twitter alternative unless there were excellent benefits.”

According to Reuters, Zuckerberg said the usage drop is “normal” and Chief Product Officer Chris Cox said Meta is working on “retention-driving hooks” intended to help bring users back to Threads.

The addition of features comes after some users complained that the app lacked certain functions.

New features being tested include one that allows users to search posts using keywords, which is being tested in Australia and New Zealand. Meta is also piloting a carousel function that shows suggested Threads within Instagram, letting users tap and open the Threads app.

These changes come after Meta rolled out a “Send to Instagram DM” button on Threads last month, as well the ability to access Threads on the web.

Meta’s updates to Threads come about a month after it reported Q2 earnings, which saw ad revenue climb in North America 11%, as well as the number of ad impressions served jump 34%.

While the company looks to stay competitive with social media platforms like X through its Threads rollout, it also consolidated its Facebook video hub over the summer in a move likely designed to help it better compete with TikTok and YouTube.

Read the full article here

News Room September 6, 2023 September 6, 2023
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