Is Twitter’s Competitive Advantage under Threat?
“If you don’t have a competitive advantage, don’t compete” said Jack Welch, Former CEO and Chairman of GE Corporation. It is one of my favorite quotes by Jack Welch and I strongly agree with him.
Competitive Advantage is absolutely important for any business as that’s what sets you apart from you competitors. CA gives you the edge to compete in the market place. But What if your competitive advantage is under threat? What if your competitor offers the same distinguishing service or feature (the distinguishing factor) that you do thereby destroying your competitive advantage? Won’t you think about changing your strategy?
It seems Twitter is likely to face the same situation in the months to come. Well, I’m talking about the new Twitter-like feature that the social networking giant Facebook is developing and planning to incorporate into the social network. Facebook has already started testing the feature on a few social network accounts. The feature is called ‘Happening Now’ which displays real-time updates from friends such as their comments and likes.
IMG Source: dazeinfo.com
Twitter’s growth rate has been increasing in terms of registered users and revenue ever since its inception. The micro-blogging site currently has around 175 million registered users. Twitter’s unique feature – ‘real time sharing’, the competitive advantage which distinguishes it from its competitors, the feature which enables instant communication has been attracting people from all walks of life like World Leaders, Politicians, Actors, Business People, Spiritual Leaders, Pop stars, Musicians and the list continues.
At the other side Facebook has gained immense popularity and its growth has been phenomenal over the years (one of my articles about Facebook’s Growth). The key to the success of Facebook is their capability to innovate and their drive for continuous improvements aimed at providing better user experience. The latest of their efforts is the new Twitter-like feature which displays real-time activities of friends.Continued on the next page