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TWITTER

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by

Kayleigh Hentges

on 21 February 2014

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Transcript of TWITTER

Business Model
Sources
-https://about.twitter.com/company

- http://www.ragan.com/Main/Articles/Pew_Report_The_demographics_of_Twitter_users_44999.aspx#

- http://nypost.com/2014/02/10/analyst-sees-twitter-as-no-more-than-niche-product/
User Content Strategy
Audience/Market
Overview
Successful Strategies Used by Businesses


Popular Strategies Used by Individuals
How Long It's Been Around

Founded March 2006 by Evan Williams, Jack Dorsey, Biz Stone

Incorporated April 19, 2007
History & Evolution to the Present Day


How many people are involved


-230+ million monthly active users
-500 million Tweets are sent per day
-76% of Twitter active users are on mobile
-77% of accounts are outside the U.S.
-Twitter supports 35+ languages
Financial Figures & Metrics
Niche
Demographic
Twitter for Business
Twitter for Media
Twitter for Development
- GOAL: MORE FOLLOWERS
Key Principles of Use
Strengths
Weaknesses
Twitter boasts 241 million unique users at this time (2013)
Overall Twitter usage has nearly doubled since November 2010

As of September 2013, about 18% of online adults use Twitter.
8% of online adults use Twitter on a typical day.

...
However,

in comparison, Facebook has 1.2 Billion users, covering a much wider demographic. Sooo...is Twitter a niche product?
Sustenance/Revenue
Vision & Long Term Goal

a mobile app owned by Twitter that enables its users to create and post short looping video clips
-tweet more- multiple times a day
4:1:1 rule
shows you're not only about yourself
educates you in the process
-only 140 characters
-only 140 characters- direct
- http://zettalab.com.my/get-more-followers-on-twitter/
-Dick Costolo, CEO of Twitter
"The goal of Twitter is to reach everyone on the planet."
- Seeks to connect new users to existing contacts to drive higher interaction from day one
mirroring practices of Facebook
- Future goal: categorize content along topical lines to make it more organized
"Daylong brainstorming session" held by the podcasting company Odeo

Jack Dorsey's Idea

2007 Twitter becomes its own company

IPO September 2013

241 million users today
Despite it's niche status, Twitter provides great exposure to many brands and businesses
including other media sources

In 2013, Twitter added a new advertising feature called Tailored Audiences
uses Browser Cookies from partner websites to tailor ads (similar to Google)
users can opt out
provides more targeted advertising for brands

"With Twitter, it wasn't clear what it was. They called it a social network, they called it microblogging, but it was hard to define, because it didn't replace anything. There was this path of discovery with something like that, where over time you figure out what it is. Twitter actually changed from what we thought it was in the beginning, which we described as status updates and a social utility. It is that, in part, but the insight we eventually came to was Twitter was really more of an information network than it is a social network."
Looking to Move into E-Commerce
- http://en.wikipedia.org/wiki/Twitter
85% of Twitter's revenue is generated from advertising
"Twitter finished a great year with our strongest financial quarter to date," said Dick Costolo, CEO of Twitter. "We are the only platform that is public, real-time, conversational and widely distributed and I'm excited by the number of initiatives we have underway to further build upon the Twitter experience."
plan leaked on internet: partnership with
Fancy
, the New York-based social commerce provider
-Jack Dorsey: board member & investor
-also, not so coincidentally, a Twitter co-founder
The Three Niche Demographics
would allow users to buy goods straight from the messaging platform
-already done by American Express
- https://investor.twitterinc.com/releasedetail.cfm?releaseid=823321
-http://www.ft.com/cms/s/0/5c5d3046-8add-11e3-9465-00144feab7de.html#axzz2t47YuquO
-Promoted tweets
-Promoted trends
-Additionally rise of smart phones is correlated to growth in usage
- Twitter embedded in iOS5

brevity inspires creativity
launched January 24, 2013
Helps media organizations engage more directly with audiences
Hashtagging allows Twitter to generate useful trends for the media industry
Networks can gauge the effectiveness of pilots, characters, etc. through "live conversations"
Twitter also acts as a medium for musicians to engage their fans like never before
Twitter does not have one particular "job" it aims to perform.
Instead, it has embraced a more flexible attitude for the sake of growth:
"We want developers to have the best tools to create engaging Twitter interactions for users, wherever and however people experience Twitter or Tweets"
"We introduced Vine because we wanted to make it easier for people to create and share videos from a device we almost always have with us: our phone"
1st: determine "WHO?"
-is in charge of your account
-are you trying to reach
2nd: identify your target market, then find them on Twitter
-services like
Social Mention
-https://www.mediabistro.com/alltwitter/5-essential-elements-of-a-great-twitter-content-strategy_b38400
WHAT?
-Your own (created) content
-Others’ (curated) content
-Polls, Q&As
-Multimedia
-Discussion-starters
-Promoted Products
Establish business goal to tie to communications
Who are you?
What do you do?
Why does it matter?
Why are you better?
WHEN?
Timing & frequecy of tweets
-easy to read & capture attention
-sometimes hard to express whole message
Helpful Hints
-get retweeted
-link to all platforms
-campaigns(same day)

-contests & giveaways
-just go follow tons of people
-occupy entire twitter feed
-provide links that don't go to what was advertised
AVOID:
-talking only about yourself
-"follow me so I can get _____followers"
-hashtagging too much
-tweeting at people
-retweeting friends
-photos
-trending hashtags (random followers)
-quickly reach audience
-free/low cost for business
-ease of entry- very open network
-can increase business relationships quickly
-extend customer service
Business Wise:
-easy to look ridiculous-THINK BEFORE YOU TWEET
-http://marketing-anooh.blogspot.com/2012/07/strengths-and-weaknesses-of-twitter-for.html
-fast pace can make it hard to reach large audiences
-good for monitoring campaigns (hashtags)
DON'T:
DO:
Williams
- http://thenextweb.com/twitter/2013/12/05/twitters-tailored-audiences-helps-brands-show-promoted-tweets-users-visited-site/#!wxI1H
More than a quarter of online African-Americans (29 percent) use Twitter.
13% use it on a typical day, which is nearly double the overall average for adults (8%).

31% of online 18-29 year olds use Twitter
the percentage of this age group that uses Twitter daily has also doubled since May 2011

Residents of urban areas are significantly more likely to use Twitter than their rural counterparts.
37% Urban vs. 11% Rural users

Clearly, "Twitter is a niche product" (Brian Wieser, Analyst at Pivotal Research Group) at least compared to Facebook
Closing Question:
Will Twitter ever achieve domination over Facebook?
Fourth Quarter:
Revenues - 243 Million (116% increase)
Net Loss - 511 million (recognizing stock expenses)
Full transcript