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March 25, 2009
Twitter & advertising, part 2
It's hard to appreciate the enormous pressure Biz and Ev must face to develop Twitter's business model. Selling ad space might be easy and fast but in the most conversational of all mediums, but I'd love to see Twitter help businesses by developing:
- A menu of dashboards with real-time analytics that help companies monitor tweets about their company or brands (or those of competitors).
- The ability to monitor multiple conversation threads and track their spread over time and across websites, perhaps marrying it with offline data from Gallup or IRI.
- A CRM program for companies who use Twitter for customer service; make it easier for the Fords, Intuits and Comcasts to identify, categorize and respond to help requests.
Twitter is certainly awash in vast amounts of data, especially in how memes start and spread, which can be of tremendous value to companies that want to understand real-time sentiment. Getting into the enterprise can be pretty valuable, as Microsoft or Oracle or SAP might tell you.
UPDATE: Looks like CoTweet. may have beaten Twitter to the punch on the CRM functionality.
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I've been thinking along these lines as well. What if Twitter bought a monitoring service such as Radian 6 or Techrigy, and offered an integrated monitoring dashboard for corporate clients? There is such an enormous opp for mining the 'real time' feedback.
Wow, it would be great if twitter offered real-time analytics for brand monitoring, so helpful for competitive intelligence.
If every CEO and Leading Executive in America read your blog, the blinders would come off and customer confidence could once again be restored. Hope is found here doom sayers.
I think it is interesting that because we do not see a revenue model, we assume there is none. I think twitter makes plenty of money data mining our conversations. They have no real need to sell advertising.I dislike Magpie and tweetads and unfollow those who use them. I am looking for conversation.
Dr. Wright
The Wright Place TV Show
http://wrightplacetv.com
www.twitter.com/drwright1
Welcome to the fork in the road.
I was surprised how quickly businesses started prioritizing twitter announcements over email subscriptions. It will be interesting to see how much the advertising will effect everyone's use of twitter.
These are fabulous ideas. Particularly the CRM piece and tracking customer complaints. I interviewed for a telecommunications company position and prior to the interview found a number of customer complaints on Twitter and a number of employee complaints on Glassdoor.com The person at the company was shocked. They didn't have anyone monitoring either source. They do now. But being able to track a detractors experience and showing how that person moves from frustration to anger and then to resolution and satisfaction would be compelling.
Great idea, except that it would poison the site. User don't want to be tracked that way, its invasive. Think about what has been going on with Facebook, the same thing would happen with Twitter. If you want demographics get them the old fashioned way, and stop trying to corporatize a great site.
Two thumbs up, well done
