To Twitter Or Not To Twitter
The weeks and months leading up to Twitter’s now historic IPO
was flush with serious research reports, in-depth articles, one-off
commentaries and streams of digital data that seemed to place the
company, in both a positive and a negative light, simultaneously. No
one really knew what would happen when the bell rang at the New
York Stock Exchange on Nov. 6, 2013; even fewer know what is next.
The pundits argue that the social network has
changed the face of modern media and that it is
fast becoming a standard for communicating. It’s
heralded as an opportunity for the world to truly
connect with one another in real-time and there
are powerful stories to confirm its important role
in the day-to-day happenings of today’s digital
consumer — from the Arab Spring to US Airways
Flight 1549, when Capt. Chesley B. “Sully”
Sullenberger masterfully landed his plane on the
Hudson River. But are these good and honest examples
of the power in Twitter? Aren’t they instead
the best examples of that system in action?
For many, Twitter is nothing more than a
confusing echo chamber, one without potential
or profit, much less a clear plan, or even vision,
on what it will become or how it will go about
obtaining revenue in the future. A review of your
own Twitter stream will likely reveal little in the
way of any meaningful conversation or information
exchange per say. The most critical argue
that Twitter is nothing more than a digital platform
for navel gazing — ideal for Lady Gaga and
Justin Bieber but not so much for anyone else.
It’s one-way communication at best, nothing
more; far from the true digital dialogue Twitter
users are promised.
While the end result (at least for Twitter’s
founders and employees) has been positive, creating
many millionaires and a few billionaires
along the way — at least on paper as employees
can’t cash out until late 2014 — you’d be wise to
avoid being like Twitter in any business sense.
Twitter’s success seemingly flies in the face of
nearly every single piece of advice I’ve ever received
or given about running a Web-based enterprise;
at every turn the company seems to
defy common logic.
That certainly hasn’t silenced its most admiring
users or strongest advocates, much less
stopped it from collecting a rather sizable 18
billion dollar payday in its IPO. Sure, the stock
price fluctuated (rather wildly in fact) as stocks
prices are prone to do, but there seems to be
more supporters now than there are detractors.
Why is that the case? Who knows; Twitter’s user
numbers are leveling off, it’s still losing money,
it’s got a spam problem and an inactive account
issue worse than most. And Twitter as a viable
way to drive website traffic? Please; a recent
Yieldbot study revealed that Twitter was “virtually
meaningless” as a source of traffic for publishers.
Yet media companies are enamored by
it, big brands are actively shifting their time and
budgets to the network as opportunities emerge.
And consumers? They keep tweeting, in the
range of 500 million per day on average.
There’s no denying that Twitter is an important
part of the digital ecosystem today. The reality,
however, is that Twitter is an anomaly
among digital enterprises, and no one should
ever try and replicate an anomaly. It’s up to you
to Twitter or not to Twitter, but the majority of
enterprises will be better off focusing on their
business fundamentals rather than attempting
to join the flock of the blue bird.


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