Twitter and Business

Composed for Professor Shari Weiss
Business Communication for Business Professionals

Prepared by
Thomas Peters
Group 5
July 4, 2016

Table of Contents
List of Illustrations….…………………………………………………………………………………………….i
Executive Summary………………………………………………………………………………………………ii
Introduction………………………………………………………………………………………………………1-2
Background………………………………………………………………………………………………..1
Purpose……………………………………………………………………………………………………..1
Significance………………………………………………………………………………………………..1
Scope………………………………………………………………………………………………………….2
Organization……………………………………………………………………………………………….2
Findings………………………………………………………………………………………………………….…3-9
The Average User Experience………………………………………………………………….3-5
Twitter’s Engagement and Growth……………………………………………………….…5-7
Users with Mobile Access………………………………………………………………………..7-9
Summary and Conclusions…………………………………………………………………………………10
Work Cited…………………………………………………………………………………………………………11

List of Illustrations
Figure 1: Users on Twitter…………………………………………………………………………………….4
Figure 2: Twitter Engagement………………………………………………………………………………6
Figure 3: Mobile Users………………………………………………………………………………………….8

Executive Summary
The premise of this report is to provide facts on what Twitter users are looking to get out of the experience and how companies can use that to benefit their business. Our research shows customers want to get an understanding of a product before they purchase it and share their experience if they are already an owner. Twitter is the perfect platform for this because it allows for unfiltered response to any topic you chose. And not only do users have the ability to write a mini blog on what they thought about the product, the company had the chance to interact with the customer and respond to any criticism or recommendations. Having this two-way channel of communication allows for companies to create a more positive customer relationship. Whether the consumer has something positive of negative to say the company can respond to the individual making them feel like a valued and important customer. Twitter is becoming one of the most used social media platforms and it is only going to get more popular with this younger generation growing older. Twitter is becoming more popular with mobile users as well. Consumers using mobile devices is a definite advantage for certain industries such as restaurants. Organizations like that are able to offer on-site deals if they see you are promoting them on their Twitter page. The three main topics I decided to address in this report are listed below.
• What the average Twitter user is looking to gather from following a company page
• How Twitter is becoming the most used social media website
• How organizations can benefit from the growing use of Twitter on mobile devices
From the research we have done we found that the number one thing potential consumers are looking to get out of following a company page is reviews on the product. Twitter is also above the industry average in time spent per day, sessions per day, and time per session when compared to other social media websites. Restaurants have already capitalized on mobile users with the in store promotions and other industries are following.

INTRODUCTION

Background

Twitter is a social media platform that allows the user to publish their own personal mini blog. Your message is limited to 140 because that was the SMS text limit for a mobile message when the CEO Jack Dorsey created it. This is what he had to say what Twitter is, “And Twitter means a short inconsequential burst of information, chirps from birds. And we were like, that describes exactly what we’re doing here.” Businesses are using Twitter more and more because of the growing popularity of the website.

Purpose

The purpose of this report is to give the reader an insight to what people on Twitter are using it for and how companies can use it to help grow their business. Twitter is becoming the most widely used social media platform and for certain businesses this is good news because a majority of the users are using mobile devices to access their accounts.

Significance

The significance of this report is to show how the growing number of Twitter users both web and mobile can contribute to the growth of your business. As of right now out of the companies using Twitter 65% of them are using it for marketing purposes and as we see the number of users rise that percent will increase. Here is a stat that will show you the tremendous amount of growth Twitter is experiencing, it took 3 years, 2 months and 1 day to get to the billionth tweet, now over one billion tweets go out a week. The companies who have not yet realized this trend are missing out on huge advertising, promotion, customer relationship opportunities.

 

Scope

To provide amble evidence to companies that aren’t using Twitter in a business sense to start doing so. The positive benefits greatly outweigh the negative ones and I hope that this report will do a proficient job in doing that.

Organization

This report will be organized beginning with the introduction, then findings, followed by the summary, and with the works cited page to finish. Prior to the introduction there will be an executive summary provided that will give a brief overview of the entire report and key takeaways. The introduction is meant to give the reader some background to the topic along with why it was chosen. There will be an introduction to the ideas that are going to be presented and how they’re related to the overall scope of the report. The findings are going to begin with Twitter users and what it is that they are trying to get out of Twitter. Because of the reasons they’re on the website, reasons to why businesses should get involved with then be presented. Continuing with the findings there will be evidence provided to how twitter is the fastest growing social media platform and there is major business expansion opportunity in that. To finish the findings there will be evidence provided on mobile usage of users and how that “on the go” use can benefit certain business types. The summary will provide and organized overview of the findings that were presented and their benefits to the growth of business. The works cited page will provide a list of any sources that helped in the making of this report.

 

 

 

Findings

For this report our findings were gathered from extensive research done online. Around 400 of the top Fortune 500 companies are using Twitter and we investigated how and why they are using it. Our research also dealt with what the average user is doing on Twitter. We found this research necessary because in order to figure out benefits for your business you must understand and attempt to appeal to the average user. The last part of our research dealt with how Twitter is growing and the more specifically the growth and expansion of mobile users. Because so many people are using this platform from a mobile device it allows for instant and on the go interaction with business and this allows for some companies more than others to capitalize.

The Average User Experience

If we were going to figure out how Twitter could potentially help business grow we, we had to figure out what the average user was doing on the website. As a company you want to appeal to the average user because this is the largest audience thus the largest percent of potential growth for your company. From our research we and as you can see from figure 1 below, people are interested in the products and others experience with those products.

 

 

 

 

 

Figure 1 illustrates what people are looking to get out of Twitter

Created by: Edison                                                                                                           Source: Silicon Alley Insider

We found that people want to get a feel for the company’s products and how people felt about them on Twitter. This is done by reading up on what the company had made public about particular products on their page, and the reviews from happy or unhappy customers. This product reviewing ability is not only valuable for a potential customer it is also benefits the company. It allows for customer and company interaction where users can voice what it is that they really enjoyed about the product or what aspects could use help. This type of instant and free review has never been available for companies to use, prior to this they would request a mail in or call for a review of the product that would take extended periods of time. With Twitter customers can review the product and voice their opinions with just typing a few sentence on their phone.

Moving down the information presented in figure 1 we see customers are looking for potential sales, discounts, or giveaways from companies they follow. Companies are able to promote major sales they’re having or host contest such as best comment receives a free piece of merchandise. These companies are able to reward their followers with discounts that are presented to only their followers, and it is a nice way of showing their appreciation for their customer loyalty. Another interesting stat that we found while doing research was that offline sales increased by 29% when using a promoted tweet. So not only are online sales increasing with the promotion of these products but people are storing that information they read online about a certain product and coming into their stores to buy them. Having a Twitter account as a business is going to benefit your customer relationships, online sales, and offline sales.

 

Twitter’s Engagement and Growth

Twitter is growing to be the most popular social media app on the market. As it was early state it took a little over three years to get their billionth tweet, now they get over a billion tweets a week. It is becoming more and more popular amongst celebrities and professional athletes. Fans love getting any sort of inside look into their favorite celebrities’ life. Celebrities will occasionally respond to tweets sent by admiring fans and that type of interaction makes them even more popular. As you are able to see from figure 2 below Twitter’s engagement rate is much higher than that of the industry average.

 

 

 

 

 

 

 

Figure 2 illustrates the amount of engagement compared to industry average

Created by: Quettra                                                                                                        Source: quettra.com

This site is growing faster than even its creators anticipated. As seen in figure 2 above the average time spent per day by the user is five minutes longer than that of the average use of social media sites. That big of a difference is huge when the industry average is only 13 minutes. Also seen in figure 2 is Twitter outperforming the average in uses per day by two. This number will surely grow as more and more people and companies realize how valuable Twitter can be. And the number of overall users is going to skyrocket in the next 20 years because of the generational gap. The majority of the population is over the age of 35 and they did not grow up with the same technological advances that these younger generations did. Some of the older generation has adopted theses new trends but a lot of them refuse to. As these younger generations grow older they will continue to use these social media platforms. And as parents they are going to pass down these same habits to their children who will be even more technologically advanced than their parents. The amount of potential customers is only going to grow in the upcoming years and the opportunities are going to grow larger.

 

Users with Mobile Access

Mobile devices have changed communication forever. They not only have changed the way that we communicate with one another, they have opened a new channel of communication for businesses to reach consumers. People are on their mobile devices more now than ever and that number is only going to increase. As you can see by figure 3 below, over 55 million people a month are logging into their Twitter accounts via mobile device.

 

 

 

 

 

 

 

 

 

 

Figure 3 illustrates the amount of mobile users on Twitter as well as the organizations that are leveraging Twitter the most

Created by: HuffingtonPost.com                                                                                Source: HuffingtonPost.com

Being able to access your account while on the go through a mobile device benefits both the consumer and business. As you can see from figure 3 above the organization leveraging Twitter the most is restaurants and I believe this is because of the evolution of cell phones. Many restaurants will offer promotions through their Twitter page and with on-site interaction. Restaurants are able to offer something free to the consumer if they are actively promoting your business. I have been to several establishments where they will ask you to like or retweet a message by them in exchange for a product or service they sell. Along with the on-site promotion restaurants offer up deals and promotions on their page that are active for limited times. Having the mobile Twitter app allows you to see these promotions while out and potentially could be the deciding factor in where you end up getting lunch. Along with these promotions restaurants like other organizations benefit from ability of consumers to instantly review their experience. With this mobile app the user does not have to wait until they are home to write such a review, they are able share their experience while it is still fresh.

 

 

 

 

 

 

 

 

 

 

 

 

CONCLUSIONS AND RECOMMENDATIONS

With how much the technology in our world is advancing, sites like Twitter are not going to be going anywhere anytime soon. The more that a business educates themselves and utilizes social media platforms such as Twitter the more successful they are going to be. Twitter allows for companies to connect with their customers and build that relationship that will make for repeat customers. Like our research showed, people are using Twitter more than the majority of social media and they are going to continue to grow because of the generational gap. With the growing popularity of mobile devices Twitter is going only going to evolve when it comes to on-site promotions because of the example that restaurants have set.

Summary and Recommendations

After analysis of the extensive research we have done on the benefits for business both large and small using Twitter, we have found that you would be missing out on opportunities by not having a page. By having a page for a business you are getting free advertisement, promotion, and the building of customer relationships. People are so connected to their phones now that it is easier to have a conversation with them via the web. As far as recommendations go, I would recommend any company to create a Twitter account if they do not already have one. And for those that do, try and be as honest and genuine as possible with your content. People appreciate transparency, and they are looking for reviews to your product and if you do not give an honest assessment current customers will. Try and interact with as many customers as possible, because if they get a personalized response they feel valued. The followings that you have the ability to create through a free page on Twitter are endless and you should use this incredible source to your advantage.

 

Works Cited

https://www.quettra.com/research/state-of-twitter/

http://www.businessinsider.com/chart-of-the-day-why-twitter-might-be-able-to-make-money-off-ads-2010-4

http://www.socialmediadelivered.com/2011/12/15/infographic-twitter-fast-facts/

http://expandedramblings.com/index.php/twitter-stats-for-businesses/

http://www.digitalinformationworld.com/2015/01/twitter-marketing-stats-and-facts-you-should-know.html

http://www.jeffbullas.com/2015/04/25/23-epic-twitter-facts-and-statistics-that-may-surprise-you/

https://www.convertwithcontent.com/100-facts-twitter-small-business/

 

 

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