Why advertisers probably won’t use twitter and probably should not
twitter just announced that it plans to raise about $1 billion in an initial public offering of non-voting shares to the public. The IPO announcement has brought out the sharks in the advertising and stock picking worlds. In short, twitter doesn't look like a very good platform for its members, advertisers or speculators. But a bunch of twitter groupies (angels) probably will buy the stock even though the company is yet to make a profit and its growth is slowing.
When I want to mini blog on politics or sports, I use twitter. When I want to promote a post on my blog, I use twitter and/or Facebook. I am a fairly heavy user of twitter (6,900 tweets) and Facebook for mini-blogging about politics, but not about stocks or products.
When I want a product review, I go to Amazon.com. Great reviews, lots of opinions. The writing is as good, in some cases, as you'll see in computer and car mags.
When I want to talk to my real friends, some high school buddies and Colorado Republicans, I use FaceBook, my blog and email, if not a lunch date, etc..
When I want to get into discussions about products, politics, sports, health insurance, travel, hobbies, etc., there is nothing like the good old fashioned (1998- ) message board or forum.
When I want to send personal messages, I use e-mail.
If I want to sell something, there's nothing like Google Adsense, eBay, Amazon, Apple's app store or Craigslist.org.
I just searched twitter for printers because we all buy them at one time or another. #printers is unhelpful. Then I tried a brand, and all I got was that company's ads. No conversations, opinions, suggestions, rating. I won't go back to twitter for that kind of information. Facebook pages don't seem to be any more useful.
So as a small business, I'd probably continue to use Google's Adsense, Craig'slist.org, Amazon, ebay and maybe LinkeIn if I was selling services.
For car, health and property & casualty insurance, none of the above make much sense to me as a marketer unless I' was trying to drive some traffic to my web site. I'd use TV, Radio and direct mail. Same goes for consumer electronics, foods, drugs, investments, etc.
What social marketers seem to be forgetting is that most people who write well enough to be comfortable on twitter, Facebook, etc., are smart enough to shop, ask questions, demand answers and use Amazon, eBay, Craigslist and the web sites of retailers and producers of goods and services. We're not going to be swayed or even attracted by banner ads, annoying display ads or marketers' trolls.
Marketers, of course, are under pressure from their clients to use social media, and they're pressuring their clients to use social media or be left out. The herd has been moving into social media for more than a decade (CompuServe, message boards, news and topic sites and then FaceBook and twitter.) To me, it seems they'd better be sure that they're not the lemmings who are being led to the last cliff.
But, then, I'm not in marketing today, and I'm old fashioned as a marketer and as a consumer. Retired. The kids are having their fun making money with twitter and Facebook, and they probably are helping some clients. But I keep thinking that a lot of clueless CEOs are being had.