Tuesday, April 14, 2009

Twitter Mania



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Twitter mania is happening across the world, right now thousands maybe even millions are tweeting as you read this. Somewhere right now Diddy is promoting his Twitter page, meanwhile across the city, Jimmy Fallon is tweeting with viewers on camera during his Late Night Show on NBC.

Do you Tweet ? Every major news outlet is, Barack Obama and the Small Business Administration are. Should you be? Here are some information to help you make your decision.

Twitter is a tool that is offering new means for communication, distribution, and consumption of information. Think of Twitter messages as short format communications which are distributed instantly. Nicolas Carr calls Twitter the Internet telegraph. Twitter messages are less than 140 characters in length and are distributed instantly to anyone who chooses to follow your Twitter feed. Twitter users follow each other in order to receive updates as they are sent out. You can choose how you wish to receive the updates, by email, by phone, or embedded into a website, blog, or social site like Facebook.

CNN has over 650,000 followers, Jimmy Fallon has 450,000, and Diddy has over 275,000. The popularity of Twitter is growing by leaps and bounds. Jason Calcanis, CEO of Mahalo, has offered $250,000 for placement on the "suggested users" page of people to follow. He thinks a 2 year agreement right now is worth 125,000 annually and he is publicly stating that he is interested in securing a contract now as he thinks it will be worth more in the future. This offer shows the potential of different types of advertising placement which may come its way.

Socially speaking, Twitter is a great communication tool. For personal use it can be used as a way to update a group of followers on what you may be doing at any given point in the day. It is also used to arrange meet-ups in social locations by Tweeting your location upon arrival, and/or leaving comments about the event you are at. Motivational and news related tweets seem to be the most popular form of tweet.

So now businesses are getting in on the act. NBC, CNN, and many other news outlets are using Twitter as a distribution source for information they want to release. The thinking behind integrating news content is very straight forward, it offers a direct means of distribution instantly. Twitter offers a personal press wire for any company who wants to reach their target base directly. The best part about is, followers are opt-in. On Twitter you choose to follow someone, so if you choose to follow CNN then you are choosing to receive all the information they send out, same is true if you follow your friend, your pastor, your realtor, or your local sports team.

Twittering Real Estate has become very popular. Using Twitter to send-out real estate tweets offers a free direct messaging system for agents and offices. It allows them to reach interested parties when listings or updates become available instantly. Once again it is opt-in, so it is non-intrusive and it allows users to receive tweets according to their own defined preferences. ChicagoRealty is a great example of how to integrate your listings. They send out tweets with the address and direct links of listing pages as soon as they receive them.

Churches have also begun to Twitter. Pastors are sending out messages of motivation & inspiration as well as updates on church happenings. Some churches have gone interactive and are asking members to respond to questions asked during the sermon. Some even show the the Twitter responses in real time on projection screens like survey results.

So how does Twitter make money you are wondering, huh ? Well, the answer is as of now they don't, but that won't be for long. The growth of rate of Twitter is incredible at over 1000% annually. That poses a lot of options for monteizing the large user base. Recently Twitter started experimeting with text based ads which are promoting their own tools below the "follower" numbers on users profiles. They have also stated they believe real-time search within Twitter will be a good avenue for monetization, along with coporate clients looking to reach certain audience demographics in large numbers. While there has been many skeptics to date, this is one venture which will not have to worry about monetization opportunities in the near future.

If you haven't yet started, it may be time to get Tweetin..

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