With the first five years having gone well, what should users expect out of Twitter in the next five?

In a social media space where things are constantly evolving, that's a tough question. However, Olds and Enderle said Twitter needs to expand its services to fend off or the next round of up-and-comers in the social networking world.

"I would expect to see Twitter become more integrated into other social networks, and perhaps even become the default method that many people use to update their online activities," Olds said. "But Twitter is still kind of a one-trick pony these days and it either needs to learn more tricks or make sure that it does its single task supremely well."

Enderle said for Twitter to survive the decade, it needs to do a better job of keeping users on its site longer and to get more people tweeting and reading tweets.

Last year, a study from RJMetrics, which develops online metric analysis software, showed that only in May. That's down from more than 70% in early 2007, when Twitter was a fledgling company with far fewer users.