Online Innovation April 24th, 2009
Twitter, the micro blogging site continues to witness unprecedented popularity boom with over 9.3 million US visitors frequenting the site in March 2009 up from 4 million in February 2009. This represents a growth of 131% over February 2009 according to comScore data. It represents phenomenal growth under any yardstick and with few parallels in the history of social networking sites.
It is not a mere numbers game either. Among the latest entrants are celebrities such as Oprah Winfrey, Ashton Kutcher and Demi Moore. To learn what this spells for the average member there is an interesting and informative write up by DJ Kennedy titled “Oprah Joins Twitter and Twitter Becomes Mainstream”
What are the ingredients that make it so successful? Twitter undoubtedly is easy to use and very user friendly at that. It builds a sense of community and of real – time connectedness and information flow for people from every walk of life. It makes sharing of news quick and easy and is in tune with the American psyche of being quick and easy. It has further stepped out from its original intent of “what are you doing” to something much more all encompassing.
The media attention that Twitter is getting has also contributed in no small measure to the phenomenal growth of the site. Andrew Lipsman the ComScore analyst wrote recently that “It seems you can’t get through a typical newscast anymore without some mention of Twitter” Lipman believes that the growth of Twitter is partly a result of the media attention it receives
Even the mainstream news channel CNN is using Twitter to get news out to avid news readers as it is a known fact that Twitter followers visit top news sites an average of three times more often than the average person.
Many people wonder how long Twitter can maintain this growth momentum? Twitter has no known avenues for monetizing its immense publicity mileage. Their potential to reach out to millions is a universal fact but Twitter is yet to chart out a business model with advertising.
Those in the advertising industry are certainly waiting to see how Twitter begins to monetize. I am certain that the investors that are consistently trying to purchase the company have their own ideas as well.
One thing we do know — Twitter has arrived. Given the explosion of social marketing sites over the last several years I think its safe to say that the Twitter we know today will be vastly different a year from now!