Anyone who has a Twitter knows that it is not out of the ordinary for users to tweet about a certain television show or sports program as they are watching it. While Twitter users may think this is just them stating their opinions to the Twittersphere, these tweets are actually giving the social networking site an opportunity to capitalize on advertising.
Last year, Twitter partnered with ESPN and Ford to expand their advertisement section. The partnership with ESPN and Ford allowed for replays from football games to be promoted to people who showed interest in sports. The executives at Twitter saw this worked in their favor, and wanted to continue improving their advertising process. They knew their advertising results would not change unless they implemented another change into their process. They needed to stretch their goals beyond where they were currently standing.
Twitter executives are taking the steps towards improvement by capitalizing on all activity users are sending out during programs. A new product will send ads to people who are commenting about multiple programs. In other words, brands will now be able to match advertisements with tweets sent out by viewers.
Twitter said they will be working with media companies, including Time Inc., Bloomberg, Discovery, Vevo, Vice Media, and Warner Music Group to allow a format of digital video or television clips from the shows. Those clips will then be able to be shared on Twitter by users, and advertisements can be run before or after the videos are viewed. Matt Derella, a director of brand and agency strategy, said, “When people turn on TV they turn on Twitter.”
Do you think this move will be beneficial to Twitter? Do you foresee people sharing these clips and getting advertisements out there?
Over the past decade, social media has become a hallmark in the realm of communication. Not only has it re-shaped the way in which communication functions on a social level, social media has taken on a new role in the workplace. Social media usage in the office is no longer seen as a distraction for workers and has become a new tool towards productivity and engagement. Instead, these companies have adopted an embracing attitude towards it and have incorporated it into company culture and everyday office life.
To prove this argument, a study was conducted at by Joe Nandhakumar, professor of information systems at the Warwick Business School in the United Kingdom. Over the span of two years, the study monitored the productivity levels at a well-established European telecommunications company that practiced policies that encouraged social media use in the workplace. The results of the study show a clear rise in productivity. This rise can be contributed through the employees’ ability to respond to client and customer concerns in a quick manner, through the use of social outlets and networks such as Facebook or Twitter. Employees were also able to use these outlets to pitch products and ideas and close sales. Nandhakumar also noted that social media allowed for heightened collaboration amongst employees, both within the office and in other locations that may be farther away.
This embrace of social media within the workplace is a major indicator of the definitive changes in corporate culture and the face of business in 2013. Social media has the ability to allow a company to build a distinct culture and identity. Facebook, Twitter, LinkedIn, and Google+ allows businesses to grow a public presence and allow fast and direct communication with its customer base, clients, current and potential employees, and any other interested user. Social media also changes the way in which employees communicate with each other and management. In a time where telecommuting is a very common practice at most companies, networks such as Skype or Google (Hangouts) make it possible to have quick meetings without the need to physically be in the same place. Not only does this boost productivity and cuts down on time, this also has the potential to cut down on travel expenses for companies, since they are afforded with the convenience of virtually conducting a meeting absolutely anywhere. Skype and other video chat outlets have also become commonly used in job interviews, saving time and money for both the employer and the potential employee.
The topic of social media usage in the workplace very distinctly paints a picture of the how business is conducted in 2013. There is an immense embrace of transparency in business that allows for collaboration, growth, and innovation. The corporate use of social media has opened the conversation on many levels.
How do you think the relationship between business and social media will expand in the future?
I guess most of you have an account on Twitter or is thinking of opening an account in Twitter because you are starting to get bored from Facebook.
One of the main lessons I learned from my operations management class is the Product Life Cycle. A product goes through the following stages: Introduction, Growth, Maturity and Decline. In my opinion, Twitter is currently in the growth stage due to the huge increase in the number of users per day. Twitter was established in March 2006 and by the end of 2007 it only had around 5 million users worldwide. In 2012, the number of users reached 200 million users worldwide. Twitter moved up to become the social networking site with the second highest number of users after Facebook which currently has around 900 million users worldwide. Twitter is very popular especially during important events. For example, Twitter users were actively using Twitter during the 2010 FIFA World Cup, 2010 NBA Finals, the day Michael Jackson passed away and during the 2011 Arab Spring. Moreover, many users are using Twitter to follow their role models, famous celebrities, professional athletes and even famous academic scholars.
During Twitter’s introduction stage, the company was able to invest in research and development and determine what exactly a social media user want from a social networking website. They discovered that social media users demand instant updates and latest news that is even faster than the famous news channels on TV such as CNN and BBC. During the 2011 Arab Spring, almost all Twitter users were using Twitter to read about the latest updates and breaking news rather than watching the TV. As a result, both CNN and BBC and other main global news channels opened an account on Twitter in order to provide the users with the latest updates. Therefore, people usually followed those users who provided the latest and breaking news that are credible and reliable.
Due to its extensive research and development and its ability to identify what exactly does the customer require, Twitter decided on October 2010 to introduce the “New Twitter” which allowed the sharing of videos and pictures as well as links to other websites. These developments increased the popularity of Twitter because now users can share their latest updates and breaking news with pictures and videos to support their claim or latest update. Moreover, Twitter created “hashtags #”. Those hashtags assist users to search the latest news about any topic in the world such as political events, economic events, entertainment events as well as sports event such as the World Cup and the Olympics.
Twitter is still in the growth stage because it was capable of improving and developing its product and conducting ongoing research and development to understand what exactly does the user want and then identify the strategies that will enable Twitter to satisfy the needs and requirements of all its existing and potential users. It is very important to mention that many companies all around the world are using Twitter as their main advertisement media to gain new customers and increase its market share.
My question is how can Twitter defeat Facebook and become the number one online social networking website in the world?
And finally I would like to take this opportunity to thank you all for reading my blog and since we are talking about Twitter, kindly follow me @mohammedashoor