The Reason Why Twitter is No Longer an Innovation Machine
I used to write a lot about Twitter for twitip.com. It was a new and exciting form of communication. Twitter was innovative, not only for what it was, but for the way that it encouraged and breed that innovation. At one point, there were hundreds of third-part services and applications built around the service.
Twitter was amazing, and I loved it.
Nowadays, not so much, and I’m not alone.
Houston, We Have a Problem
In Twitter Floundering Post IPO, an article on SocialTimes.com posted yesterday, it was suggested that Twitter might be in trouble. The post outlined several metrics that do paint a less than flattering picture:
- Falling ad revenue
- Slowing growth rate
- The company losing money
Clearly, something is wrong.
Just a few years ago, Twitter was a media darling. It was all over the news. People were signing up in droves. The sun was shining. To be sure, the service is still having a tremendous impact, especially for Breaking News and as a “second screen” TV experience. However, as mentioned above, the slowing growth rate is the key.
People are not flocking to Twitter the way they used to. There are three reasons why:
- Competition: Facebook, Google+ and Instagram (among many others) are fiercely competing for the same users.
- It’s a Niche Product: Some people like chocolate while others like vanilla. Twitter is it’s own flavor with it’s own personality (and I think limiting tweets to 140 characters is a contributing factor. You’re requiring people to edit themselves).
- It’s Stagnating: Twitter is very slow to add new features and recent changes have been mostly to their ad platform (only used by marketers) or nearly meaningless interface tweaks.
The Answer is…
Actually, I just mentioned it; “stagnation,” and that comes from a lack of innovation.
TWITTER HAS STOPPED INNOVATING!
In Twipocalypse Now: Warnings of a Twitter Bubble and Twitter Commits Suicide (or Twipocalypse Now: Redux), I discussed the need for innovation and the risks of stifling innovation. While I completely understand Twitter’s rationale, I thought there were much better solutions. Alas, Twitter felt otherwise. Now, years later, they’re starting to pay the price. Growth is slowing.
What Should Twitter DO?
INNOVATE. INNOVATE. INNOVATE!
I’ve offered a few suggestions about how Twitter could innovate. They include:
- A Channel System: The way I use Twitter has changed. Now I only want to see tweets from specific people on specific topics. Twitter Lists, introduced a few years ago, were a good first step, but they haven’t changed since then. No innovation. Also, Twitter subordinates them, making them hard to get to, preferring that all users stay in the main Twitter stream. Channels are something I really need (see, Why Twitter Needs Channels to learn how this would work).
- A Better Ad Targeting System: In my post, Twitter’s New Ad System REVEALED (the title was hyperbole), I suggested a way to associate a relevant ad with each tweet. While some people were concerned that this system would have cluttered the main Twitter stream (and it might), my intention was to create an interactive ad system where users could do something of value right in the ad unit.
Regardless what Twitter actually does next to improve the platform, it had better add value to the user experience or users aren’t going to stick around.
For more of my posts about Twitter, see my Twitip Author Page.
What do you think? Does Twitter need to innovate? Let me know in the comments below.