In this article, we’ll give a SWOT analysis of Twitter, looking at the Strengths, Weaknesses, Opportunities and Threats of the social media platform.
Actually, Twitter was intended to serve as a medium for people to send and receive short messages, similar to those seen in SMS messaging. Since its inception, it has grown into something that is now incredible, more than what it was meant to serve.
In the last decade, Twitter has emerged as an important player in domestic and international politics. It has evolved into a source for news stories and popular information. Without any doubt, once something gets viral on Twitter, everyone gets to know about it.
Because celebrities and other well-known people have realized they can use Twitter to talk directly to the public, it has also become a key tool for spreading propaganda.
About 330 million people use Twitter, and about 500 million tweets are sent out every day. There will inevitably be downsides to a business with such a large web presence.
Micro-blogging and social media network Twitter allows users to communicate with each other via tweets. In just less than 15 years, it has gone from nothing to over 330 million users on Twitter.
Twitter SWOT Analysis
Innovative and fun features
Twitter provides the most practical features, such as retweets, trending topics, and hashtags. These features not only give users the most up-to-date information, but they also let them reply and say what they think.
Twitter’s name is ideal since it is distinctive and reflects exactly what the firm is all about. Consumers may infer what Twitter is and does just by looking at the name of the brand.
Popular for News and Marketing
Twitter has evolved from a social media platform to a means of official communication. With a simple tweet, information may be shared fast and effortlessly.
There is a wide range of people and organizations, from the White House to business celebrities. Based on an update released by Statista, 67% of businesses use Twitter to promote their products and services to other businesses (worldwide).
Stable Financial Position
As Twitter has matured, its financial condition has stabilized. For the first time in the 2019 fiscal year, Twitter generated $3.46 billion in annual profit.
A Broad Product Portfolio
Twitter has acquired a number of high-profile companies. In order to better satisfy the needs of their customers, several firms have boosted their Twitter capacity.
You can only tweet a certain number of times each day, and there is a maximum number of characters in each tweet. There is a daily restriction of 2400 tweets for an account and a length limit of 280 words for each tweet. Semi-hourly intervals are employed to further reduce this limit.
Despite Twitter’s rigorous anti-spam and anti-bullying laws, other types of cybercrime remain common. Despite the site’s best efforts, some malicious activity is going to slip through the cracks on a site of this size.
Bots and false accounts are also a concern when it comes to spamming on Twitter. Also, false accounts are very difficult to identify in the first place. Even for sites like Twitter, it’s difficult to deal with issues like online abuse and harassment.
Several celebrities and other well-known people on Twitter have been harassed by anonymous users, which has hurt Twitter’s reputation.
Misuse of the Platform
We’re all aware that Twitter is an important tool for mobilizing people, but there’s a problem when it’s utilized in the wrong way. ISIS’s Twitter account is a great example of how the group was able to get people to join by telling them to check out the Islamic State on Twitter.
The Business Plan
Most of Twitter’s revenues come from advertising, which is the web’s primary income source. Weak funding is more of a problem when you consider that Twitter’s operating costs are rising because of the money invested in expanding data centres.
As a result, Twitter has been unable to make significant profits, especially when compared to Facebook. This is, however, because of its uncertain income model and high operational costs.
For this reason, it has really lost money and made a net yearly loss of more than a million dollars. High expenses and obsolete income models, on the other hand, are great obstacles for the company.
Lack of Creativity
Many users complain that the platform hasn’t produced any notable innovations and that its algorithm has left them disappointed. There have been instances where Twitter has failed to keep user data secure, allowing external parties like advertisers to get access.
Twitter may learn from its rivals like Instagram in order to develop new services.
Customer satisfaction will rise if they do so. Increase user experience by taking more decisive measures to secure the site’s security.
Targeting New Areas
If the website improves its marketing and other consumer techniques, it may attract new users. Diversification is another way to achieve this goal. Twitter can make a lot of money if it grows and moves into new ways to make money and make things.
Because of Facebook’s successful money-generating tactics, it’s possible that the site may catch up to it if it succeeds in building a superior business model for its own.
Twitter has the option of using mobile-friendly advertisements to increase revenue and maximize profit. It’s up to the firm to start exploring these options, and the possibilities are nearly endless.
There are several social media networks that can compete with Twitter, including Facebook, Snapchat, Instagram, and even TikTok.
This poses a major risk, given that the number of users is only expected to grow modestly over the next five years.
Restrictions on Speech
Dictators and other autocratic leaders hate anything that can be used by the people to get rid of them. This includes Twitter, which they can block in their countries.
In order to limit the freedom of speech on Twitter, democracies might also impose restrictions. According to the New York Times, Chinese police officers have been questioning and arresting Twitter users in China. In recent times, the Nigerian government has banned its citizens from using Twitter in their country.
Inequality in the Balance of Power
According to a study by the Pew Research Center, 80 percent of all tweets are sent by the top ten percent of users. The more followers you have, the more powerful you are on Twitter.
Kylie Jenner (34 million followers) and Cristiano Ronaldo (84 million followers) each tweet many times a day, impacting millions of people across the world.
This has resulted in a disparity in the ability to exert influence.
Influencer Quits the Platform
At any time, a celebrity can leave Twitter and go to a rival site. If a lot of users leave because of this, Twitter’s income and user base could be hurt badly.
New Taxes on Digital Transactions
With a new digital tax, the EU intends to go after the biggest internet companies. Twitter’s income will be taxed if it is included in the list.
Data security, intellectual property protection, and the elimination of fake news, insensitive material, and disinformation may be improved by enacting tougher laws and regulations by governmental agencies.
What are the plans of Elon Musk for Twitter?
Elon Musk intends to make Twitter a spot where individuals can shop and open money market accounts. Musk did an audio broadcast to calm the fears of advertisers. Since the billionaire took over, some companies, like General Motors and Volkswagen, have stopped running ads. Source CNBC
Is Elon Musk still rich after buying Twitter?
After buying Twitter for $44 billion on Thursday, this was the biggest buyout of a tech company ever done with borrowed money. The Bloomberg Billionaires Index estimates that Musk’s net worth has decreased by $9 billion. Since the beginning of the year, his net worth has decreased by approximately 25%, to $203 billion.
What is Twitter competitive advantage?
The competitive advantages of Twitter include its real-time nature, global influence, user-friendliness, and public visibility. These features continue to appeal to potential customers and maintain the interest of current subscribers.
Who is Twitter’s biggest competitor?
Below are some of its rivals;
- Parlement Technologies.
Final Thought On Twitter SWOT Analysis
Following this comprehensive SWOT analysis of Twitter, we have concluded that Twitter is without a doubt the leading micro-blogging platform in the world. Some of the top problems are automatic charges, more competition, slower growth, and reliance on the US market. Twitter should leverage its assets as well as brand to expand and accelerate its growth.
Resources Used for This Report