Facebook vs. Twitter: The Coming Facebook-Twitter Collision
There have been speculations by various analysts of a stiff competition among different social media sites. It is human to make mistakes and the critics have made particular errors in making comparisons between two companies. It is such a failure to compare two entities that do not share many characteristics such as the target market (Lacy para 2). However, for Facebook and Twitter, the comparison is perfect as the two are similar in many ways. For Twitter to be safe from the attack of the Facebook Company, it has no choice but to apply vigorous business principles and strategies.
The Situation Synopsis
The two companies are in the race to outdo each other in the market. Both appear to be in a rush towards adopting measures that threaten the efficiency of the other. For example, Facebook recently redesigned its structure and incorporated various features. One such feature is the ability for the celebrities and public figures to keep in touch with their fans throughout the world through communication. It is no secret that Facebook is desperate to equal to the Twitter in terms of specialties. The move by Facebook is to give a convincing reason for its consumers not to look else; in this case Twitter.
Highlighted Key Issues
Twitter suffers from the lack of finances compared to Facebook. While Facebook tries to expand its services, Twitter struggles in the absence of financial stability. Facebook has, in the past made an effort to acquire Twitter, and it still hopes to get the chance. Additionally, there could be some ray of light for Facebook to experience massive growth. Its attempts to mimic Twitter could leave Twitter with no opportunities of new markets. The estimated number of people who are not subscribers of any social media platform and runs in millions will less likely take to Twitter as an option.
Currently, Twitter seems to be going places as it has numerous unexploited opportunities at its disposal. However, Twitter may not live to enjoy the potential market exploitation. The financial burden of Twitter will pave the way for Facebook, and, in the long run, Twitter will lose its relevance in the market. Facebook stands a better chance to be a social media platform star especially because of its clientele base counting up to 150 million. The base is non-comparable to twitters 6 million. Facebook seems more strategic in its actions, and the result shall be winning market dominance that shall see Twitter out of the market entirely.
If Twitter could consider some fine tuning to most of its features, it could be safe from the Facebook threats. For example, twitters stellar technology, acquired from Summarize is underutilized. The technology could make the technology do more than the mere tracking of real-time conversations. Additionally, the firm should ensure that consumers access information from the web in real-time. Further, it should not revolve around real-time access of information, there is no limit to the potentials that Twitter can exploit.
Evan William, the founder of Twitter, insists Twitter is not a finished product yet. The claim shows that he is aware Twitter could do more than its current operations (Lacy para 7). However, all that is there to say is that Twitter is too slow in its implementation strategy. The solution lies in the incorporation of more social media services and sign partnerships that promise much better. Moreover, the top level management at Twitter require an urgent change. If Twitter could look at the culture of Google and take to it, it could become better than it is currently.
Selected Problem Solutions
The study of Hill and Jones (12) shows that employees remain a valuable resource in any business entity. Their effort could ruin or build a firm. Therefore, Twitter should reconsider its corporate culture in order to increase employee efficiency. Getting into partnerships could make Twitter realize more capital to explore the unexploited opportunities.
For Twitter to successfully implement the solutions to the problems discussed above, it should consider making the entire staff team own the company. Every member should contribute towards decision-making. When it comes to implementation, every member shall ensure that their point creates a positive impact. Additionally, the firm should approach the problem formulation phase with a touch of expertise (Hill & Jones 14).
Twitter should draw a checklist of implementation against time. It is only with the existence of declines that any firm can give maximum attention to the implementation process. Any deviations arising during the process get identified and corrected as soon as possible.
Twitter has a long distance to cover in catching up with Facebook. The distance does not only mean increasing the clientele base, but also boosting its market relevance. The comment by its founder that he is yet to launch the finished product does not hold water. He should understand that by the time he is making a comeback with a modified product, Facebook will have scooped the unexploited market share. The complete Twitter will not have any clientele to boast about its greatness and hopefully win new markets. The time to act is now.
Hill, Charles., and Jones, Gareth. Strategic management: An integrated approach. Mason, OH: Southwestern, 2012. Print. Pgs. 12-14.
Lacy, Sarah. (March 04, 2009). The coming Facebook-twitter collision. Retrieved from http://www.bloomberg.com/bw/technology/content/mar2009/tc2009034_395864.htm.