It was just 10 years ago, 2 years after the birth of Facebook, that Twitter hit the scene, and changed the face of how people interact with the world around them. Since then, Twitter has been instrumental in rapidly spreading information – both important and silly – around the world faster than you can blink an eye. It has been instrumental in political uprisings and reality TV stardom. Twitter has become a big success, but it hasn’t been without hiccups. They struggled to find ways of creating income streams – a common issue for social media sites whose users don’t like advertising – but they finally settled on a decent program of promoted tweets and promoted trends that seems to be working well.
In the past year or so, Twitter has had more road blocks than in the past. They just had a bunch of executives quit, and had a slew of layoffs that had their stock fluctuating and people talking. What was going on? Some suspect it is just the growing pains of a ten year old company, and others think it is a sign that the social media site is in trouble, especially with so many other competitors joining the market and gaining steam.
Twitter is no longer at the top of the charts for that desired millennial age group that brands want to reach, with things like Snapchat taking the forefront there. Twitter’s plan to right their slow growth in the past few years is that they are finally going to invest something into marketing. The company had virtually no marketing presence for the first 10 years of their existence, which speaks to the popularity and usability of the service, but now, with more competition in the atmosphere, Twitter COO Adam Bain said in an interview in Ad Week, “we realize, in retrospect, it probably held Twitter back from growth because the role of marketing in business is an incredibly powerful skill and an incredibly powerful muscle to flex.”
So, look for some new tactics from Twitter coming in the next year or so!
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