When Mark Zuckerberg's Meta (META) -) announced its new social media app, Threads, it may have been holding something back.
Monetizing apps that have big numbers of users has been a challenge. Profiting from the microblogging business, which has taken wild turns the past year, continues to be the trick.
DON'T MISS: Big Changes Are Coming to Mark Zuckerberg's Threads -- Here's Why That's Good News
On July 5, Threads made its debut to a very quick rise in social media interest.
On the first day, it boasted 30 million users. By July 11, it had surpassed 100 million.
This compares to Twitter, longtime leader in the space, that had a count of 237 million users when it last checked in before Elon Musk took it private in July of 2022.
It was an astonishing rise for the new social media site, which, it said, would aspire to stay away from the news and political commentary that has been a big traffic driver for Twitter.
The Threads Move To Challenge Twitter
"Meta, the parent company of Facebook and Instagram, is calling Threads a 'text-based conversation app' and hopes to tempt users who have left Twitter since Elon Musk took over," wrote RetailWire. "Musk’s recent limitation of how many tweets users can see per day may lead even more people to switch over to the new platform."
One question has become whether Threads will find a way to engage in e-commerce as part of its venture.
Some speculation has involved whether Twitter would use its Instagram integration to further that goal.
"While there’s not a direct ad placement feature or paid offering on Threads at the moment, it doesn’t mean that brands and agencies should overlook the importance of engaging with the platform’s users," said Mathieu Champigny, Group CEO at CoCreativ, according to RetailWire.
"Instead of focusing solely on traditional advertising, it’s crucial to prioritize community building by fostering meaningful conversations with your audience."
The retail publication suggested some methods businesses could implement along these lines.
There are many ways businesses can use Threads to connect with their customers. For instance, they could share product announcements, discounts, or behind-the-scenes content with their followers.
Brands can also use Threads to answer questions and collect feedback that they can use to improve their products or services and develop new marketing campaigns.
Since users can add links, photos, and videos to their posts, businesses could easily advertise their products or announce an upcoming sale. They could also run contests and giveaways to generate engagement around their brands.
Meta could take advantage of advertising space as well.
"For businesses hoping to monetize through ads, the good news is that Meta has a strong advertising backbone that they use to connect with people across the customer lifecycle, according to Forrester, so it’s only a matter of time before Threads starts advertising like Meta’s other social media apps," RetailWire wrote.
At the moment, it's not a sure thing that Threads will thrive in commerce.
"Only time will tell whether Threads will become a major player in the e-commerce space," added RetailWire.
"However, the app's integration with Instagram, its focus on personal connection, and Meta’s history of successfully advertising on social media give Threads the potential to be a valuable tool for businesses."
Get exclusive access to portfolio managers and their proven investing strategies with Real Money Pro. Get started now.
