This Market Watch write-up suggests that Twitter must find a buyer for itself before Snapchat destroys it. Is Snapchat really on its way to destroying Twitter? Twitter’s growth has been stagnant for some time and for 11 consecutive quarters the social networking website hasn’t been able to make profit. Its stock is constantly coming down. Talks are already going on with various prospective buyers including Disney, Microsoft and Salesforce so we all know Twitter as it exists now may not exist in a few months. Change is inevitable. But is Snapchat really destroying Twitter by taking away its users? Why is it so?
The problem might not be about users – Twitter users are totally different than Snapchat users. Whereas Snapchat users exchange sweet nothings in the form of images, small videos and text messages that are ephemeral, Twitter is for serious discussion and its messages stay forever. Many a politician have been embarrassed for what they tweeted five years ago, forgot about it altogether and started saying something totally opposite. Then people dig up those tweets and throw at their faces. So it’s not like Twitter users are moving away from Twitter and going to Snapchat. So in that sense, Snapchat might not be destroying Twitter.
Right now almost all social networking websites and apps make revenue through advertising. The above-linked right up references to a report that says that most of the advertising revenue is being snapped up by Snapchat and Facebook, and also Instagram.
The main point I see here is targeting. If these companies can realise that users of various social networking websites and apps react differently to different advertisements, they will realise that there is enough space for everybody. The ads that may appear on Twitter might be totally different from the ads that appear on Snapchat or Instagram. As an advertiser, if my audience is on Twitter, why would I waste my money and creativity on Snapchat? Even the formatting can be different. Even the way these ads are displayed and integrated within the interface of the website or app, can be different.
The writer of the above write-up uses numbers to come up with the hypothesis that Snapchat is destroying Twitter. The analysts say that advertisers are more interested in Snapchat than Twitter. This would be true if the same advertisers who were first thinking of advertising on Twitter but seeing the popularity of Snapchat have now decided to advertise on Snapchat, then, yes, we can say that Snapchat is destroying Twitter.
Analysts and even people at Twitter need to realise that the social networking experience provided by Twitter is totally different from social networking experience provided by social networking apps like Snapchat, Instagram, WhatsApp and Facebook Messenger. The problem right now with Twitter is the people behind the social networking platform are constantly comparing themselves with other such platforms, especially the number of people signing up. Just like you cannot compare LinkedIn with Facebook and other social networking websites, you cannot compare Twitter with Snapchat and other social networking platforms. They are different and they are used by different people. The only reason why Snapchat might be destroying Twitter is because Twitter cannot figure out what to do with itself. The problem is Twitter itself, not Snapchat.