Edison has released a new study on Twitter and the results are pretty interesting as the buzz doesn't translate into users....
" interesting data points that suggest it may not be worthwhile for some companies to focus their online marketing efforts on the micro-blogging site.This, of course, contradicts other studies - at least about social media, not necessarily Twitter - as well as what has become conventional wisdom on how to advance a brand, according to MarketingVOX.The other studies include a small but now infamous study by Vitrue that found one fan on Facebook is worth $3.60 and a Facebook Page with one million fans is worth a minimum of $3.6 million in earned media annually.Then there is a study by Hubspot.com, which found that many B2C and B2B companies are successfully using social media networks to acquire customers, with more than four in 10 companies overall having acquired a customer from four major social media channels."
So how many people really are engaged in Twitter?
"The Edison study doesnt discount the popularity of Twitter - in fact it reports that 87% of respondents have heard of Twitter, compared to 88% who had heard of Facebook. The findings also suggest that Twitter users are hyper-aware of brands on Twitter. The study found that 42% learn about products and services via Twitter and 41% provide opinions about products/services. An additional 19% seek customer support. A grand total of 49% follow brands or companies.Twitter users talking about marketing and brands far exceeds the usage on the other social networks, said Tom Webster, the VP of Strategy & Marketing at Edison (via Social Media Today).Combined with their above average income and above average education, Twitter users propensity to interact with brands make them a huge potential source for Mass Influencers, Social Media Today concludes."
Does Not Convert into Interaction
Here is the rub: the data also suggests that Twitter users do not necessarily convert brand awareness to usage, Social Media Today says. Although 87% of Americans have heard of Twitter - only 7% actually use it. Compare that to Facebook, where 88% have heard of it, and 41% have a profile, which is a conversion rate approaching 50%, Social Media Today notes.Clearly some companies belong on Twitter - namely brands that are seeking to shape consumers opinions and possibly engage them in a conversation."