Should B2B Tech brands rush to Threads and Bluesky?

As we approach the end of 2024, the social media landscape is being both shaken and stirred, leaving many B2B tech brands wondering whether they should rethink their social strategies entirely. With engagement on X continuing to decline and users migrating en masse to new platforms like Bluesky and Threads, the question is: should B2B tech brands consider migrating to either of these platforms? 

The answer isn’t black and white, but there are several important factors to consider when evaluating these emerging channels.  

The decline of X 

X was once the go-to platform for real-time news, industry updates and engaging with influencers and thought leaders. However, in 2024, engagement on X has continued to drop and its content now just doesn’t quite hit the mark for many users. On top of this, X has rolled out a number of controversial policy changes, with the most recent one allowing accounts to continue to view tweets from users who blocked them.  

In the aftermath of Trump’s re-election and Musk’s appointment by the president-elect to run the Department of Government Efficiency, several high-profile celebrities, academics and reputable media outlets, such as The Guardian, have left X, further diminishing its appeal. Interestingly, on the same day that X saw the highest number of U.S. visitors, it also experienced the highest rate of account deactivations. 

Estimates of X’s global monthly user base differ significantly. The highest estimates, cited by research agencies and major business outlets, suggest 611 million users in April of this year, decreasing by 6% to 588 million by September. Despite the decline, there’s no denying that this is still a substantial user base. Therefore, it’s important for companies to assess whether this audience aligns with their target market and evaluate their trends in engagement levels this year, before making any rash decisions. 

So, where is everyone going?  

A big shift we’ve seen is towards Bluesky. It’s still in its early days, but the platform has been quietly gaining traction among journalists, celebrities and industry insiders, gaining more than one million new members after the U.S. election.  

As of 28th November 2024, over 23 million users have signed up to Bluesky, according to a stat-tracking site. For B2B tech brands, Bluesky could offer a unique opportunity to engage with thought leaders and media professionals in a more organic, less crowded space. Plus, it has a very familiar look-and-feel, harking back to the good ol’ days of Twitter.  

Then there’s Threads, which has been growing slowly and steadily since its launch in 2023, with the platform recently reaching over 275 million sign-ups. Unlike Bluesky, Threads has massive backing from Meta, making it easier for the platform to attract users and maintain momentum. According to Axios, Meta announced earlier this week that an additional 35 million people signed up for Threads accounts in November, with sign-up rates rising over the past two weeks compared to the beginning of the month.  

So, there definitely is movement across the social media networks, with people and businesses opening accounts on new platforms to test the waters, see who is already there and what features are on offer.  

Unfortunately, there isn’t a one-size-fits-all answer to which platform can offer the most value at the moment. It all comes down to your specific audience and goals. Brands might find that a hybrid approach works best: maintaining a presence on X, while exploring new opportunities on both Threads and Bluesky. At this point, we wouldn’t recommend closing your X account altogether. It’s still a significant platform with a strong user base, and it’s important to recognise that coming off it could be seen as a political statement that might not align with your brand values. 

Next steps 

Before jumping onto any new platform, our social media experts recommend conducting an audience audit. This will give you the data to determine where your audience is most engaged and where you’ll get the most value. Whether you choose Threads or Bluesky, being an early adopter and exploring these platforms is crucial for staying ahead of the curve. But make sure you’re doing it for the right reasons – based on where your audience is, not just on trends. 

If you’re keen to understand which platform is right for your brand, our social media experts will be happy to help. Get in touch today.