May 6, 2009

Twitter Value

An April 30, 2009 article in the Globe and Mail newspaper in Canada reported on a recent Neilson study finding that the churn rate for Twitter users in a single month was over 60%.

Notwithstanding the precise accuracy of the figure, even if the churn rate were 30% it would still be a critical issue for Twitter leadership.

I said in a blog back in February, that I viewed the power of Twitter in a business-to-consumer application as a Customer Learning tool for business rather than a personal media vehicle in the Facebook space. I have yet to see Twitter position the service in this way; they continue to let it develop in the market without any specific value proposition to guide it.

So, Team Twitter, start to communicate the value of the offering to business. Leverage the good efforts of businesses that have begun to use Twitter as an ongoing dialogue and relationship building tool with their customers. Discuss the specific applications they use. Talk about how they use Twitter to build their brand. Get real specific on the business value that you create and step away from the personal communications space that really isn’t a unique place for you to be since others are there competing with you.

In addition, help businesses learn how to get their customers to follow them. To a business, the value of Twitter is directly proportional to the customer audience available to build relationships with. Show us how to do it. Give us tips from the best.

So focus on the business market segment, re-define your value and communicate your value in a clear compelling way. BE DiFFERENT and watch your churn rate decline.

Cheers, Roy Osing

Remember to follow me on Twitter.

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Posted 5.6.09 at 02:31 pm by Roy Osing | Read Comments (0) | Leave a Comment