Meta just launched Threads in a bid to rival Twitter. Meta founder Mark Zuckerberg described Threads as, “an open and friendly public space for conversation,” providing, “the best parts of Instagram and creating a new experience for text, ideas, and discussing what’s on your mind.” The new platform, essentially a text-based version of Instagram, automatically follows the same people as your Instagram, so users are building followings straight away.
If you’re an entrepreneur whose business relies on social media, you may be considering joining the platform. With more than 10 million people signing up to Threads within the first seven hours of its launch, adding it onto your to-do list could be a good move.
But as with any business decision, assess the pros and cons before getting involved. Your time is valuable, and you don’t want to waste it. How do you know if this will be worth your energy?
THE PROS
Benefit from first mover advantage
Most people with a decent following on Twitter, LinkedIn or YouTube will tell you they started early. And they have a point. When any social media platform first starts, it’s goal is to flood the platform with users. It will prioritise your content over ads and give you insane benefits in terms of impressions and engagement. It will get you hooked to keep you coming back. Threads will be no different. Joining now not only means you’ll secure that all-important username, but you’ll benefit from the platform’s efforts to win your loyalty.
Experiment with a new channel
If you’re getting bored of Reels and not sure anyone is reading your LinkedIn articles, Threads might be for you. There’s merit in running experiments on a platform to see what you can achieve. Maybe you’ll meet some cool collaborators pretty fast, sign up a client from your first post, or win a bunch of followers and the subsequent bragging rights that brings. All you can do is sign up, start going and see what happens. Monitor effort versus outcome and go from there.
There’s nothing to lose
If you’re an SME owner looking to grow your business, you know that growth can come in the most unlikely of places. It’s not always new networks and introductions, sometimes it’s random pockets of customers or reconnecting with old acquaintances in a new way. Threads may bring this serendipity forward, creating opportunities for growth. If you’re hungry for new business, you have the time to spare, and you’re aware it could all come to nothing, hop over and sign right up, but commit to the research and activity required to make your move a success.
THE CONS
It could be a distraction
Many SMEs suffer from shiny object syndrome. They know what they should be doing but they just can’t stick to it. Although they might be clear on their one customer avatar, their one flagship product and the one way in which they are reached, short attention spans win out and cost the long game. Entrepreneurs flit around, struggling to stay with the plan they know will work. It’s a form of self-sabotage, and Threads is the latest temptation. There’s no doubt that success on Threads requires a strategy and an action plan, but it might well serve to distract you from your core business.
It could be another Clubhouse
Clubhouse launched in 2020 and had 10 million users in 2021. At its peak, the app was busy. Entrepreneurs were networking, hosting panels and meeting new people, creating a wave of personalities who were Clubhouse famous; influencers on that platform, even if nowhere else. Clubhouse no longer enjoys the same active user base and has pivoted several times. Threads could well be a Clubhouse. Topical, exciting, and about to give rise to a bunch of Threads influencers, before it peaks and slides away. This could happen within a month, a year or a decade. You have to predict the potential long term gain from the short term effort.
There are better ways to spend your energy
Joining Threads and doing it right costs energy. It’s not just the time spent on the channel; it’s keeping up with the Zuckerberg versus Musk drama. It’s having the conversations about whether or not it will take off. It’s the continuous activity required to get a profile off the ground. That energy has to come from somewhere, and there may be better ways to utilise it. Consider the opportunity cost. Decide what gives. Every hour spent on Threads is an hour away from your sales calls, team management or meeting time. Or maybe you take it from time spent recharging with friends, family or a good book. Being honest with yourself, can you think of better ways to spend your time and energy than a new platform?
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