Complacency and the Unwillingness to Adapt
Many companies don't have time to push a broken cart for long, and started to lessen their commitment to tweeting, while consumers grew bored with the product, favoring features that Instagram, Facebook and Snapchat were introducing. In an effort to become more relevant and competitive, in 2016, Twitter, seemingly reluctant, changed up their platform and rolled out an updated algorithm, designed with the intention to capture and hold their users' attention for longer periods of time. They began presenting users with the most popular tweets when they initially logged in and offered the ability to retweet and like your own content. This option increased the likelihood of a tweet being seen - The lifespan of a tweet was only around 18 minutes - and helped to increase exposure and build followers, which is particularly useful in a marketing capacity.
Too little too late? This move to change or adapt to the latest in social media trends did little to increase the number of active users year over year, and the impact is taking its toll on the company ranks. In mid-2017 it was reported that over a million Americans quit Twitter in just three months. The average engagement rate for brands on Twitter is now 0.049%. That's lower than the average banner ad click-through (0.5%). Parse.ly reported that Twitter paled in comparison to Facebook or Google as a traffic source, even being beaten out by Yahoo!