Introduction
Twitter is a social media platform that links individuals to the most recent information that has been brought to their notice. It was created by Jack Dorsey, Biz Stone, and Evan Williams in March 2006, and officially launched in July 2006. It became popular in the first half of 2007 with individuals from all walks of life. A person, a group of people, a company, or an event are all examples of a twitter (Simon & Schuster, 71).
Twitter’s Business Model
A business model is a working document that contains standard information about a company’s activities (Damiani, Yetongnon, Chbeir & Dipada, 172). A business model should have devices that handle all aspects of a firm, including operational costs, revenues, operating strategies, corporate structure, and sales and marketing metrics.
Twitter is finally stepping up and moving into the world where real businesses stride and this led to launch o the advertising model.Biz Stone the co founder of twitter posted a blog entry about unveiling the new promoted tweets advertising policy. Users will start seeing paid messages that will be labelled promoted. Ten percent or more will be able to see the promoted messages. The first commercials will be launched by Twitter in collaboration with Bravo, Red Bull, Sony Pictures, Starbucks, Best Buy, and Virgin America. The founders of twitter believe that promoted tweets will not be rejected by twitter users because it will have built in quality features that reward tweets.
The proposal is that people will be able to re-tweet relevant or appealing adverts. This business proposal will enable twitter to investigate how much a promoted tweet is passed around.
Twitter’s Services and Products
Search business type, it acquired the search engine in the summer of 2008 which is common. It had the potential to subdue tweet servers, to such an extent that the first year, they did not set up a search box but hid the feature. This search is highly significant, as proven during the current Iran disruption when twitter was among few ways of getting words out (Siau, 74).
E-commerce, many companies have used this method example Dell has sold millions of dollars worth of equipment through twitter. BTB customer support business model, best buy and Twitter began an experiment with @ TwelpForce. This enabled them to have thirteen thousand followers. This service ensures that all customer’s questions and enquires are answered. This is known to be the future of customer communications. Twitter 101, this is a sizeable lesson for companies to do business using twitter. This enables the company to find monetize their traffic.
Verified accounts, twitter is known to be the first with verified accounts plan payment that verify clients are carrying out transactions with the company they are searching for and avoid imposters (Simon & Schuster, 99). This comes with a small cost. Applications business model, applications are known as the graphical advertisement unit of the future. Many of applications have monetization potential. GigaOm states that after “twitter gate”, when twitter servers are hacked, twitter has careful consideration of buying a number of applications, which can be used in the situation as they used for search.twitter.com. Use the high twitter valuation to finance is a program that has demonstrated to be money-spinning and hold them against the large twitter use site.
Networking marketing, twitter may not be advertising; many companies would like to have a license to aim at consumers using “birds of a feather” targeting. This is carried out by the identification of a group of people with a common interest and escalating that objective by searching for others with similar interests (Siau, 69).
Applications, twitter offers various applications like android which is the most common application used by tweets.Tweader is a way of viewing twitters conversations it is done by entering tweet’s username. Tweet grid this enables the creation of twitter search dashboard which updates according to the tweet’s time zone. Free twitter design helps one to personalize their twitter background; it helps in the creation of twitter backgrounds that are unique.
Geographical Distribution of Twitter Services
Steven Rubel observed that twitter is quite common on the East Coast. Most tweets come from United States, Europe and Japan. Japan is the author of new mobile phones and technology. It has been adopting twitter rapidly (Damiani, Yetongnon, Chbeir & Dipada, 201). The contribution of multilingual support, and short messages codes twitter may perform well in markets like China and India, which have adopted short messages significantly. Bruno Peters posted an intriguing example of writing scrutiny. Market intelligence can be unique by implications of a word’s popularity for a given demography. Rapid development of concepts like “Mexico earthquake” is possible indicators of trends and geographically events. The top ranks of cities twitter users world ranking from the first to the latter are Tokyo, New York, San Francisco, Seattle, Los Angeles, Chicago, Toronto, Austib, Singapore and Madrid.
Competitor Analysis
Competitive research is defined as the strength of the competition. This enables the company to find out the competitive advantage. When the agency finds out competition, the results provide a framework for developing strategies to its growth. It also helps in determining target markets, advertising plan, consumer service, sales forecasting and sales growth. Twitter has shown its strengths and weaknesses through its products and services (Damiani, Yetongnon, Chbeir & Dipada, 221). In many ways, it has established larger markets in different countries. A crucial resource used is Microblogging; it is a form of blogging that lets the person write short content updates which are not more than 200 characters about anything.
Microblogging necessitates a faster means of communication compared to conventional blogging. The understanding of shorter posts led to unknown users’ want of time and thought funding for positive generation. Frequency of update, usually a prolific blogger may improve his/her blog every few days compare to Microblogger which place frequent updates in a single day. Twitter is currently one of the main Microblogging platforms (Simon & Schuster, 99). The use of web interface, IM agent or sending short messages updates are what users network with.
Geoviscual analytics software focuses on niche, time and feature based information foraging in the twitter verse and visually demonstrates sense making in support of emergency management with information derived. This enables the incorporation of computational methods to capture stock and mark tweets with visual query and analysis process. Visual, systematic approach is applicable in dealing with twitter because of the amount of data involved. Limited details in each tweet generate insights by combining many small details of information. This is, in addition to the challenges, in identifying both places and topics that are ambiguous tweets (Siau, 80). The success of computational methods will not be successful in tweet retrieval and analysis. The computational methods are required in handling the amount of data, and optical methods are crucial in helping users deal with unwanted information quality, and relevance.
Computational extensions, first implement solutions that will flock tweets and identify representatives. This will improve the geographical entity removal methods to assess current tweet experiences of individuals, posting the tweet into account as input to disambiguation of places mentioned. Visual interface enhancement’s main feature is to implement the following in-visual interface, which are bounding, box selection on the plan in supporting geographic filtering scale grid density (Reilly & Schweihs, 79).
Twitter has more than three million accounts. Fifty percent are inactive, and nearly one forty million tweets register daily. While facebook has over seven fifty million users and about sixty million updates daily. Email across the world, two point nine billion emails accounts and one eighty eight billion messages sent (Gillespie, 77). Three times as many email accounts as they are registered facebook and twitter jointed. Daily posts on twitter and facebook only 0.2 percent of the email traffic happens in a single day. The combined amount of searches on Google, Yahoo, and Bing accounts for approximately 1% of daily email traffic. On the internet, the average number of page views is one-fourth of the total number of emails sent.
Marketing Size and Communication Budget
Twitter has grown into a network of more than 100 million active users. Customers of tweet attempt to use information to make money. Twitter helps companies market their products and services through e-commerce at a fee. Twitter is the modern ideas place that a like minds get together worldwide and share knowledge. The capacity for retweeting insights from others shows an amount of randomness into what might appear as news feed. However twitter has a competitor that is facebook.Seventy percent small businesses use facebook for marketing. One third of customers prefer facebook to twitter and states that it influences buyer’s decisions.
Twitter is a strong social system though it has ups and downs. It should improve on some features like allow grouping of friends and followers. This can reduce the noise at twitter feed, auto complete in tweets, text link in tweets, tweet threading, and display Meta data (Hurd & Layton, 117). Twitter and other social media are possible sources of information that can be analyzed to assist in monitoring and decision making activities.
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