Twitter has always been a famous social networking site, but its popularity has surged in recent years. According to Twitter's most recent financial statistics, overall revenue in the second quarter of 2021 increased by 74% to $1.19 billion, with monetizable daily active users increasing by 11% year-on-year to 206 million in 2021.
Perhaps even more amazing is the rate at which the number of monetizable daily active users has grown over the last four years. Twitter appeared to be in a decline in the late 2010s. Nevertheless, the downturn ended, as Twitter's monetizable daily active users were over double in Q2 of 2021, compared to Q2 of 2017.
This is a massive rise, demonstrating that Twitter is experiencing rapid growth. But why is the platform making such a strong comeback? We'll look at the main reasons Twitter has grown in popularity in recent years, as well as how companies may capitalize on this trend.
The top four factors for Twitter's resurgence
1. Twitter is a very social and genuine channel.
Twitter will be 15 years old in March 2021. Since its inception, Twitter has been a highly social platform where quick-fire tweets can spark genuine discussions all across the world.
Twitter, also known as the "diary platform," is conversational, relaxed, and highly authentic. It has a confessional, forthright aspect that other social media channels lack. Twitter appears to be a place where people feel comfortable revealing themselves and sharing their day-to-day experiences.
Twitter's short word limit and 'trending' tab, which enables users to participate in current discussions, encourage this in-the-moment experience sharing.
People's conversations over the past year were often casual and lighthearted, with users providing running commentary on their favorite TV shows now being a preferred form of entertainment. In truth, more than 7,000 tweets about TV and movies were sent every minute around the world.
This conversational style of communication was just what people craved during the pandemic. This is confirmed by the fact that 9.6 percent of adults increased their Twitter usage significantly during Covid-19.
Brands can take advantage of this conversational style by creating their own sponsored content as well as coordinating with creators. Twitter's informal tone allows brands to engage, amuse, and surprise users, revealing different facets of the brand's personality.
2. Twitter delivers breaking news.
One important reason for Twitter's fame is the platform's ability to share breaking news. In a period where everything appears to be in constant motion, having up-to-date commentary on global events can be incredibly helpful.
Twitter's interesting quick rundown of the most discussed topics in 2020 demonstrates that people use the platform not only to keep up with other people, but also to obtain insights on important news topics. According to the report, the most popular hashtag in 2020 was #Covid19, with #BlackLivesMatter coming in second.
Twitter has quickly become a tool for finding breaking news before it has been published by news outlets. Twitter provides uncensored news content that people truly desire in such a turbulent time, with real-time observations into what's happening on where you are.
3. Twitter made some significant design changes.
Twitter has faced some backlash in past years for modifying its design, but it has undoubtedly been one of its most successful decisions. Twitter made room for a ‘What's Happening' panel on the right-hand side and a ‘Explore' tab on the top left by relocating the horizontal navigation menu from the top of the screen to the left-hand panel.
This drew some negativity at the time for attempting to imitate Facebook, but these features are critical in influencing Twitter's popularity in recent years. Users can view topics that they would have normally missed out on thanks to the algorithm on the Explore page, which offers curated content that is hyper-specific to the user's locations, interests, and engagements.
The platform is now easier to read and less distracting thanks to recent updates in August 2021. Twitter announced on August 12 that they would be releasing color and typography updates that would provide "higher color contrast of buttons, links, and focus." Twitter is giving users what they want with a new easy-to-read font and more space between text.
Its new design features, which were unveiled earlier this month, appear to herald a new, more mature Twitter. What's fascinating about these changes is that Twitter appears to have progressed alongside its audience, which has given it staying power.
In 2021, 38.5 percent of Twitter's global audience was between the ages of 25 and 34. Adults aged 35-49 made up the second-largest age group demographic, accounting for nearly 21% of the total. When you take into account that 42 percent of Twitter users have a degree, you get a picture of a well-educated audience. The platform's increased popularity can be related to user experience (UX) modifications that correspond with its key audiences.
Twitter's audience is highly valuable for brands because it is older, more educated, and much probable to work in well-paying jobs. Brands should take advantage of the current opportunities on Twitter, as Twitter continues to work hard to keep the users interested.
4. The platform works closely with content creators.
Another important step that has increased Twitter's popularity is its cooperation with creators. Twitter announced in August 2021 that it is “launching an exclusive research community just for creators” that will exchange creators' “ongoing feedback” for Twitter stuff.
In addition, the platform recently announced plans to launch a 'Super Follow' feature, which will allow creatives to give exclusive content, newsroom features, and audio chats in return for a monthly subscription.
Twitter's popularity stems from its commitment to collaborating with creators. Although other social media platforms have been chastised by creators for implementing adjustments that do not meet their needs, Twitter appears to place creator satisfaction at the core of its strategy.
This makes it much easier for brands to collaborate with creators on Twitter. Collaborating with creatives on platforms they are familiar with and enjoy is always preferable, and with new features that make it easier for creatives to earn on the platform, there is even more incentive for creators to develop a solid audience.
Twitter will continue to grow in 2021.
Twitter's share price reached an all-time high in February 2021, more than doubling its high in 2020, demonstrating that the platform is in the midst of an aggressive growth period. With an army of loyal users and a creator-centric strategy, it appears that the platform is on the rise.
There has never been a better time for brands looking to expand their audience to use Twitter and take advantage of the many opportunities that the platform provides. Ad spend on Twitter is currently at an all-time high, with the results of these ads proving fruitful. Total ad engagements are up 12% from Q2 2020 to Q2 2021, and the Twitter audience appears to be very interested in engaging with suggested and sponsored content.