Threads: What You Need to Know for Your Partnership Marketing Journey
When Threads launched in early July 2023, the entire world was buzzing. Everyone — from A-list celebrities to casual users and influencers — was scrambling to create an account and take the new platform for a test drive.
Naturally, any brand with a partnership marketing strategy took notice, as the new Meta social media platform has major implications for influencer marketing.
What is Threads?
Developed by the Instagram team, Threads is a new Meta app designed to compete with X (formerly Twitter). Users can create a Threads account using their existing Instagram credentials and data, which means that signing up takes seconds.
Once on Threads, users can make posts of up to 500 characters. They can also include photos, links, and videos up to five minutes long. Much like X, Threads allows users to follow other users’ profiles, build their own followings, and like, share, and reply to posts.
Threads is frequently compared to X, and the applications share many similarities. However, Threads does have an Instagram-esque twist. On X, sharing videos and images is secondary to text-based communication. Although Threads is designed to be a discussion-centric program, sharing videos and images is a breeze.
Threads usage rates
Within five days of launch, Threads surpassed 100 million users. It reached this milestone faster than any app in history. However, within a month of launch, the number of active users had dropped by approximately 75%.
While Threads is a well-designed, user-friendly app, it didn’t reinvent the wheel. Instead, it is a mash-up of two uber-successful platforms, Instagram and X.
Generally, people who are already thriving on Instagram prefer to stick with the platform they know and love. The same goes for those who have remained loyal X users despite the name and ownership changes, executive shake-ups, and controversies.
The bottom line is that some people simply don’t like starting over, especially if they have amassed hundreds or thousands of followers on an existing platform. Who can blame them? After all, they’ve spent months or even years growing their followings.
Has Threads fizzled out?
After the sharp decline in usage after the new platform buzz wore off, Thread’s usage rate has taken a positive turn. While its download and sign-up rate is nowhere near as rapid as it was in July of 2023, new people are still joining the platform: Threads has not fizzled out but instead rebounded to a more normal growth rate.
Experts also predict that Threads will become a major revenue generator for Meta in the coming years. According to one estimate, the app will generate $8 billion in revenue in 2025.
While it remains to be seen whether the prediction will hold true, more information about Threads and its growth trajectory is expected by the end of Q4 2023.
What Threads means for partnership marketers
If your organization already leverages partnership marketing, especially with Instagram influencers, Threads may be a valuable addition to your strategy. Diving deep into which demographics are using Threads will help you better understand whether it fits your brand.
Adding Threads to the mix could allow you to connect with new audience segments, drive traffic to your site, and boost revenue. On the other hand, if there is a significant overlap with your current Instagram audience, your endeavors may prove fruitless.
One great way to find out is to run a few test campaigns with micro-influencers. Typically, micro-influencers charge far less for their services and have good relationships with their followers. If your trial run on Threads delivers promising results, expand your efforts and put this emerging platform to work for your brand.
Build a partnership marketing strategy with staying power
In just two months, Threads took a ride on the boom/bust rollercoaster that has claimed so many brands. Unlike countless other companies, Threads has weathered the storm and appears to be on the rebound. That said, falling into the boom/bust fallacy is something your business can (and should) avoid.
Acceleration Partners can help you build a partnership marketing strategy with staying power by leveraging our deep industry expertise and global teams. We’ll work with you to determine whether Threads is a good fit for your partnership marketing strategy and then develop a winning game plan for your brand.
Ready to elevate your partnership marketing strategy with innovative social platforms? Let’s connect!
Helping brands unlock growth through partnerships.