What’s new on Twitter in 2014?
A few years earlier, Twitter was only a small scale, uneven group of hackers struggling to maintain the website from crashing almost every other day. The company has come a very long way ever since.
Twitter is about to bag as much as half a billion dollars as revenue in the year 2014. It has reached a monthly active user pool of way over 230 million users around the world and its employees figure has reached around 2,300 employees who are working in offices across London, New York, San Francisco, Sao Paulo and Dublin. It also navigated a relatively smooth IPO in the month of November, which remains nameless. The company’s current valuation stands at about $35 billion.
Though Twitter has reached quite a number of social networking milestones already, its business is yet to mature to its full extent. The total number of active users it currently has in the U.S. is significantly smaller than the others for example Facebook, and is just about a 5th of the total number of internet users in the country. Also, its user growth globally has dramatically slowed down year on year basis. A total loss of $79 million was reported in 2012 and a net loss of over $134 million was recorded last year.
On the face of these Twitter has made quite a significant number of changes on the product front like its user interface, and experience on desktop and mobile. The key changes that twitter has affected include:
- A better and richer experience
With the redesign of the social networking site, Twitter has now become more interactive and visually appealing to the users. This means that articles, pictures, ecommerce features, TV clips etc. are that much more prominent. This change will help Twitter in two ways – one, it will enable it to provide a better platform (visually) to advertisers and two, it is bound to increase users and thus, engagement.
- Explaining its purpose to new users
Twitter has updated its ‘about’ page explaining better how the service provides utility to its users. It also unveiled an account which is dedicated to work as a guide to the users about the social network. Twitter has also introduced many other accounts to the similar effect such as @eventparrot and @magicrecs which notify users automatically to follow people, breaking news, etc. Through these accounts even amateur users can get a hold of the social networking site.
- Advertising beyond Twitter’s safe zone
Twitter’s new model of revenue earning has focused on expansion of 2 of its ad tools. The first being selling ads on apps that are not common to Twitter, which has been made possible by the acquisition of MoPub.
- Embracing the Television
Twitter has recently gone into partnerships with BBC, CBS, A&E and other television houses to give effect to the Twitter Amplify program which has been brought into place for promoting videos including instant replays and exclusive behind the scenes shots which act as promos to television shows.