I guess most of you have an account on Twitter or is thinking of opening an account in Twitter because you are starting to get bored from Facebook.
One of the main lessons I learned from my operations management class is the Product Life Cycle. A product goes through the following stages: Introduction, Growth, Maturity and Decline. In my opinion, Twitter is currently in the growth stage due to the huge increase in the number of users per day. Twitter was established in March 2006 and by the end of 2007 it only had around 5 million users worldwide. In 2012, the number of users reached 200 million users worldwide. Twitter moved up to become the social networking site with the second highest number of users after Facebook which currently has around 900 million users worldwide. Twitter is very popular especially during important events. For example, Twitter users were actively using Twitter during the 2010 FIFA World Cup, 2010 NBA Finals, the day Michael Jackson passed away and during the 2011 Arab Spring. Moreover, many users are using Twitter to follow their role models, famous celebrities, professional athletes and even famous academic scholars.
During Twitter’s introduction stage, the company was able to invest in research and development and determine what exactly a social media user want from a social networking website. They discovered that social media users demand instant updates and latest news that is even faster than the famous news channels on TV such as CNN and BBC. During the 2011 Arab Spring, almost all Twitter users were using Twitter to read about the latest updates and breaking news rather than watching the TV. As a result, both CNN and BBC and other main global news channels opened an account on Twitter in order to provide the users with the latest updates. Therefore, people usually followed those users who provided the latest and breaking news that are credible and reliable.
Due to its extensive research and development and its ability to identify what exactly does the customer require, Twitter decided on October 2010 to introduce the “New Twitter” which allowed the sharing of videos and pictures as well as links to other websites. These developments increased the popularity of Twitter because now users can share their latest updates and breaking news with pictures and videos to support their claim or latest update. Moreover, Twitter created “hashtags #”. Those hashtags assist users to search the latest news about any topic in the world such as political events, economic events, entertainment events as well as sports event such as the World Cup and the Olympics.
Twitter is still in the growth stage because it was capable of improving and developing its product and conducting ongoing research and development to understand what exactly does the user want and then identify the strategies that will enable Twitter to satisfy the needs and requirements of all its existing and potential users. It is very important to mention that many companies all around the world are using Twitter as their main advertisement media to gain new customers and increase its market share.
My question is how can Twitter defeat Facebook and become the number one online social networking website in the world?
And finally I would like to take this opportunity to thank you all for reading my blog and since we are talking about Twitter, kindly follow me @mohammedashoor