Two years ago, Twitter was considered “dead” by many users. With tweets on the decline, along with a wave of trolls (anonymous users who stir up controversy, generating negative commotion and anger) on the network, advertisers began to pull away. The company even considered a sale, which didn't go through. While tweets using #RIPTwitter, among other jokes about the platform's falling popularity, were happening, an opposite wave began to take shape internally.
Twitter's financial results started to beat market expectations. From a rejected company to a desired one, some employees began to come back, creating a positive internal culture, quite different from the toxic environment that existed before.
Twitter is managing to turn things around in a nearly miraculous way. It's the first social network that lost users and then went back to growing significantly.
Twitter's unlikely resurgence can be attributed to a few factors:
- Accepting that the company would never be like Facebook, which led to the decision to invest in news, while Facebook was retreating;
- The decision to offer premium live video on the service;
- CEO Jack Dorsey's order for the product team to rethink everything;
- And a key ingredient in many great turnarounds: luck.
What did news do for Twitter?
For a long time, it was hard to define what Twitter actually is. The abundance of different communities on the service made that definition even more complicated. But in April 2016, the decision was made. The company moved from the “Social Networking” category to “News” in Apple's App Store.
The moment Twitter decided to define itself as a news app changed the game. The service started showing live videos, promoting information, and driving more traffic to media and press outlet websites. Meanwhile, side projects like Vine (the 6-second video sharing service) were cut.
The decision to pivot toward news coincided with one of the most headline-packed periods of the last decade: Donald Trump's 2016 election, Brexit, and political upheaval around the world. The fact that the current U.S. president is an active Twitter user didn't hurt either.
In real time
Aggressive investment in live video also attracted more users. It started with a bold deal to acquire a package of NFL games. Even after others began offering similar services, Twitter stands out by showing live videos all day long, often more than one at a time.
The company started investing in this kind of content because it sparks conversation among users interested in the video's subject. So it even makes sense to get involved with niche sports, like lacrosse.
Deals closed with major media companies, such as ESPN, LiveNation, and BuzzFeed News, allowed Twitter to dramatically increase its premium content, alongside which it can sell advertising.
Rethink everything!
In 2015, Twitter employees were asked to rethink all of their strategies. The team then rolled out an algorithm that did away with strict reverse chronological order, moving closer to Facebook's approach, and doubled the character limit from 140 to 280. These changes sparked backlash from users, inspiring the hashtag #RIPTwitter. Despite the outrage, the changes helped new users get the hang of the tool more easily.
In 2016, the company had to face head-on a problem that had been ignored for too long: rampant abuse and harassment that drove famous and highly important users off the service. Twitter also began cracking down on serial abusers and hate groups, expanding its rules. It seems the company is finally better positioned and unafraid to change.
A little luck never hurts
Another factor we can't ignore in Twitter's comeback is luck. Coincidentally or not, the decision to focus on news came right as Facebook was retreating, following a string of scandals. On top of that, Snapchat cooling off with advertisers opened up space for Twitter to present itself again.
On the other hand, its internal culture changed after the app's decline. Only the employees who truly believed in the platform stuck around. Some of them came back after a while, and they all seem quite excited about this new beginning.
According to analyst Michael Nathanson, the company has one of the most important things in today's market: momentum. So it's likely that Twitter will remain part of the conversation around digital media for a long time to come.
