I use Twitter daily and it has changed my life; it has put oomph into being a sole-proprietress.
Jack Dorsey, Chairman and Co-Found of Twitter, in this YouTube video (starting at time code 1:09 – below) said “I use Twitter as much as a journal as a broadcasting mechanism. I can go back and see four years of my life and pinpoint every single development I’ve had in those four years. Everything has been crystallized into some sort of message that may have been relevant to what I was experiencing and may have just provided some color….”
Since I started Tweeting two years ago, Twitter has helped me:
- Crystallize my thoughts
- Promote my business
- Promote my clients’ businesses
- Promote those I met and only know on Twitter but have built a ‘trust’ with
- Learn to collaborate with others that I didn’t know before Twitter
- Find others with complementary products and services
- Hone my own social media skills
- Learn more every day…
I am always trying to find new ways to market by listening and learning from others as well as being ‘ingenuitive.’ I continually learn from the comments of those I ‘follow’ and those they follow; what I do and don’t like; what I do and don’t want to emulate. Listening to and sharing ideas in a short and sweet dialog of no more than 140 characters gives a solid ‘headline’ snap shot. If I want to learn more, Tweeters usually include a shortened URL to continue on. I like to share my knowledge with those who follow me. I have an attitude of what I can bring to party first. The ROI generally happens as a result of word/tweet of mouth, and I use Twitter to practice and learn marketing strategies.
Twitter is a for profit site but it has been unclear to me (and apparently to the masses) as to how they make money. I did some investigating, and what I found is that Twitter has mostly generated revenue opportunities through deals with companies like Google, Yahoo and Bing, who bought the rights to display live Twitter feeds in their web search results. Twitter earned millions of dollars in revenue by selling the rights to publish live tweets on any trending topic. It’s a win-win deal, as it brings more users to Twitter and provides search engine users with live data which ultimately helps the advertisers to decipher and package this information.
Then there is the related concept of created ‘Promoted Accounts’ for advertisers such as Coke, Disney, and Starbucks which will be shown in the ‘Suggestions for you’ section, presented for Twitter users to follow. This advertising model is expected to increase Twitter’s revenues to up to $125 million in 2011 etc.
For a small, entrepreneurial business like mine, I follow this list of regular Twitter tasks:
- Listen to learn about my market and business practices
- Listen to learn about competition
- Listen to learn about things I don’t know about
- Listen to learn a new hobby or technique
- Listen to learn about what trending topics TV stations are posting during shows to find out what people watching are talking about to entice advertisers
- Listen to learn about what people think about ‘issues’
- Follow live dialog with “#”about topic airing on TV such as news or favorite TV show
- Incorporate my Tweets with my Blog, my Website, My Facebook Pages