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Twitters Challenges and Their Management
Given the high competitive barrier in the social media environment, in the foreseeable future, Twitter will find it difficult to maintain a high position. Numerous Facebook products (the current Meta) dominate the target market, making it difficult for Twitter to capitalize on new users and advertising contracts. Despite the growth in revenues, compared to other major platforms, the social network does not show the same high performance. The merger with Periscope did not give the desired effect, which indicates that Twitters marketing policy is not sufficiently strong to promote the network under updated development strategies. The situation was exacerbated by the COVID-19 pandemic, when, due to massive restrictions, advertising activities were suspended. As a result, in the future, Twitter may lose its status as one of the flagship social networks due to the loss of competitive advantage and a decrease in advertiser interest in this resource.
To successfully overcome the aforementioned challenges, Twitter senior management should look for new opportunities to promote the platforms services, including through updated marketing strategies. Partnerships with new brands can help strengthen the companys budget and, at the same time, open up an opportunity to expand its customer base with new users. Engaging celebrities as advertising agents can also be a favorable practice. While taking a cue from Instagram, where famous promote different brands, Twitter management should reorganize the affiliate program to provide better conditions for interacting with bloggers, celebrities, and other influencers. This practice is a recognized strategy for increasing public interest in a brand and attracting new advertisers. In addition, capitalization on related projects, for instance, socially-oriented programs, can bring dividends due to the expansion of interaction with the public sphere.
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