Over the past few days you have learned some of the reasons why your business should be on Twitter. You have also learned what types of people use Twitter and what and when to tweet for your business. Now it’s time for another round of statistics to show what businesses have been able to achieve with Twitter.
The primary objective of any media campaign, whether online or in the real-world, is to have an increased return on investment (ROI). Many businesses have begun using online marketing to its full potential by using social media. Making your business visible on Twitter can help you find more potential clients and increase your ROI.
Businesses are seeing an Increased ROI with Twitter
Methods of tracking Twitter’s impact on a business’s ROI are still in the developmental stages, however, through current, preliminary measurements, a significant statistic has emerged. During a 2010 survey of 175 businesses that have begun tracking their overall social media ROI, the numbers indicate that 11.4% of the businesses saw a significant ROI increase using Twitter.
This number may seem small, but there are three key facts to remember:
- Of all of the businesses that participated in the survey, 40% did not know if Twitter had any sort of impact on their ROI and another 23.4% did not use Twitter.
- Of the remaining 36.6% of the businesses in the survey that used and tracked their ROI from Twitter, 11.4% saw a significant increase in ROI. Suddenly that 11.4% seems a lot bigger.
- Businesses are just now starting to measure their ROI from social media. Remember that 40% of the businesses that participated in this survey did not track how Twitter helped their ROI. This data hasn’t been calculated in great detail before now, so there are no long-term statistics of the financial benefits of Twitter as of yet.
- However, the businesses that do track their social media ROI show a positive, measurable ROI from Twitter. Even though much of the data analysis doesn’t exist yet, the fact that some businesses are seeing a positive financial impact from Twitter means that this form of social media can indeed help a business.
Using social media is important when it comes to online advertising. While there isn’t a lot of data available for measuring how Twitter impacts a business’ ROI, new methods to track this are being developed. The available data we do have shows that Twitter is having a positive impact.
Businesses are seeing Increased Brand Engagement with Twitter
With more and more people using social media, businesses are learning that they can do more than just advertise. According to one article, businesses have also been successful at using Twitter for client-oriented services, thus ultimately having a positive impact on consumer engagement with their brand. These include:
- Improved customer service through more interaction.
- Better business promotion through relationship building with current and potential customers.
- Creating new ideas and services by hearing what customers are interested in.
- And according to a second case study, Twitter can increase site traffic by using promotions, contests, and other customer-engaging tweets.
Using Twitter impacts your business’ success in more regards than just revenue. It helps your business advertise, build positive customer service relationships, and present a more positive overall image of your business. Twitter can help keep your customers coming back again and again.
Now that you have some general ideas about how to use Twitter, and how Twitter can bring you positive results, managing your Twitter account can be a challenge. The next blog entry will have some basic pointers on helping you manage your Twitter account.