Momentum. McQueen Michael

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СКАЧАТЬ share price had hit a record high of US$74.73 in December 2013, by early 2016 this had plummeted by almost 80 per cent.6

      There are myriad reasons for Twitter's momentum woes.

      According to Kuittinen, one of the main things Twitter lacks is the ‘fun, adventurous, funky, experimental' feeling users get on younger social apps such as Snapchat and Dubsmash. Twitter has been slow to make the platform more visual; however, its acquisition of the live-video app Periscope in early 2015 could help.7

      A second key drag on momentum is that Twitter is just not easy enough to use. Even Twitter co-founder Jack Dorsey was forced to acknowledge this in an October 2015 tweet: ‘Our work forward is to make Twitter easy to understand by anyone in the world, and give more utility to the people who love to use it daily.'8 Dorsey and other Twitter executives have acknowledged that jump-starting growth momentum will require rethinking fundamental parts of the service, such as the 140-character limit.9

      For Twitter, the stakes are high. They must engage a wider cross-section of new users lest they become, as one technology commentator friend of mine recently described it, the BlackBerry of social media.

      Starbucks coming off the boil

      In October 2006, the US coffee giant Starbucks was rapidly losing its mojo. The company's shares began a decline that would last more than two years and leave them trading at $8 (down from $40 at their peak). In the face of global economic turmoil, many started to feel that the brand was, as the Financial Times put it in 2010, ‘a poster child for the frothy excess of a bygone era'.10 Clearly something needed to be done – and fast.

      In January 2008, Starbucks' founder, Howard Schultz, returned as CEO, telling analysts, ‘Just as we created this problem, we will fix it.' Re-igniting Starbucks' momentum was not easy, but today the coffee giant is once again riding high and enjoying greater success than ever. In part 03 we will look at just how Howard Schultz achieved such a phenomenal feat.

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      1

      Foster, R 2015, ‘Picking the next disruption', Business Spectator, 27 July.

      2

      Hardy, D 2010, The Compound Effect, Vanguard Press, New York, p. 94.

      3

      Chaykowski, K 2015, ‘Add this to Twitter's growth woes: a flock of younger social a

1

Foster, R 2015, ‘Picking the next disruption', Business Spectator, 27 July.

2

Hardy, D 2010, The Compound Effect, Vanguard Press, New York, p. 94.

3

Chaykowski, K 2015, ‘Add this to Twitter's growth woes: a flock of younger social apps threatens to eclipse it', Forbes, 15 June.

4

Goel, V 2014, ‘Twitter has a problem with your mother', The Sydney Morning Herald, 6 February.

5

Koh, Y 2016, ‘Twitter woes mount as user growth stalls', The Wall Street Journal, 10 February.

6

Russolillo, S 2016, ‘Why Twitter should eyeball Yahoo's past', The Wall Street Journal, 9 February.

7

Chaykowski, K 2015, ‘Add this to Twitter's growth woes: a flock of younger social apps threatens to eclipse it', Forbes, 15 June.

8

Koh, Y 2015, ‘Twitter names co-founder Jack Dorsey as CEO', The Wall Street Journal, 5 October.

9

Koh, Y 2015, ‘Twitter to cut up to 8 per cent of workforce', The Wall Street Journal, 13 October.

10

Rigby, R 2011, 28 Business Thinkers Who Changed the World, Kogan Page Limited, London, p. 149.

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