What is the Value of Twitter?

I think it is important, but I question whether it is crucial that the executives be the ones making that time investment. I have tweeted about various companies/products and often had them reply to my tweet as a result. It is rarely an exec replying, but as long as they are trying to address my issue and doing so authoritatively, I don't really care who it is.

I use Twitter heavily for work as part of a bigger strategy to increase traffic to our site as well as to get partners to sign up and post on our site. Other methods to reach these goals include blogging (posting and reading/commenting), attending events, joining relevant social networks in the industry (to name a few). I do spend a lot of time on Twitter but I definitely get wayyy more value out of Twitter. In fact just this week I've had 3 potential partners contact ME through Twitter about joining our site. Plus looking at our analytics it's consistently one of the top 10 sources of traffic.

So you're missing the value gained and how it contributes to business. If it's not, than that time on Twitter can be perceived as a waste, but if it's helping reach the bottom line (and it's measured), it's certainly a good investment of time.

That's how I see it. However, if you aren't able to measure that value, is it worth it? I'd still say yes, but that's my opinion as a die-hard twitter addict.

Great analysis Rob. One of the things people often forget is that there is a human cost involved in social media. Not to say that it's a reason we shouldn't be using it, but definitely a reason to think before jumping in.

Solid article. My only debate with your math is whether or not all of your exec's time is actually work time. By becoming a presence on sites like Twitter, the face of your company becomes accessible and I know very few people who only interact from 9-5. If they're doing it on their own time, it becomes volunteer marketing as opposed to paid.

Also, I only found this article through your Twitter account so that's $78 000 well invested.

Great analysis, and can be applied to just about all other social networking activities. I did a similar (though less formal) mental calculation when I originally became aware of Twitter, and decided that it was not worth the investment.

Good on ya to raise the question.
We use Facebook, Twitter, blogs, and just about any other social media venue we can find as a means to increase awareness, so I too appreciate the value. I've also been involved online since I was a Sysop for CompuServe WAY back when it was one of the ultimate Social Media tools so come to this with some history.
As a not-for-profit I have to watch the return on our Communications time and money carefully and as we come to the end of the fiscal I'm not 100% convinced social media is a clear winner. The adage about getting what you pay for when it comes to 'free' is worth bearing in mind here.
There is certainly a large Social Media community worth tapping into but there is an equally siginifcant constituency out there that is not plugged in, could care less about being 'engaged', and who feel that a Tweet or Wall Posting is not exactly delivering the goods.
We planned our budget to ensure that there was collateral marketing and communications tools available to make a link between our online activities, media relations, PR, and gov't relations. I'll be taking a long hard look at our mix as I prepare for the next budget to make sure that time and energy is not sucked up into the vortex of the 'free'.

Mike

People take mental breaks and distractions every day in the work. This is proven true at every level in an organization. The mind needs the break from the routine, from the stress, etc. Twitter, high page-rank value for one, socially connected another, and sometimes entertaining to boot, offers a distraction that is quasi-productive. If anyone is going to waste time with a little “fun & games” where would you find the most value as a business? Around the water cooler, standing outside with a cigarette, reading a book, chatting up another co-worker, Twittering, Facebook, or some other unknown distraction? Basically… no easy answers but some food for thought that I believe has strong merit.

[...] perspective on how much executive time can be drained through the avid use of Twitter – ‘ What is the Value of Twitter?’ In this article there was no mention of the benefits the company in question derived and so it’s [...]

Interesting view point. As with all communications initiatives, before diving into Twitter, perhaps companies should determine their objectives for the channel and have policies in place regarding the types of conversations most in-line with company objectives – as well as who should and shouldn’t be Twittering on company time. (The intent here wouldn’t be to muzzle employees as much as it would be to provide focus.) We’ve seen an increase in brand awareness and blog traffic (which in turn has generated opportunities for us) and so we have decided to invest more time in Twitter. Perhaps companies should consider capping the amount of time they invest and ultimately determine this in proportion to the impact Twitter has on corporate objectives. Obviously a certain amount of time needs to be invested to see a return – just as a company would not evaluate an advertising channel based on the return from one ad. Your article speaks to the amount of time executives are spending on Twitter – do you also have information on any specific measureable benefits that companies have derived from this channel? (Returns from blogging are better documented.) I’d be very interested in hearing from companies who have put policies/guidelines in place, have determined specific measurements and have seen Twitter impact their objectives.

Good on ya to raise the question.
We use Facebook, Twitter, blogs, and just about any other social media venue we can find as a means to increase awareness, so I too appreciate the value. I've also been involved online since I was a Sysop for CompuServe WAY back when it was one of the ultimate Social Media tools so come to this with some history.
As a not-for-profit I have to watch the return on our Communications time and money carefully and as we come to the end of the fiscal I'm not 100% convinced social media is a clear winner. The adage about getting what you pay for when it comes to 'free' is worth bearing in mind here.
There is certainly a large Social Media community worth tapping into but there is an equally siginifcant constituency out there that is not plugged in, could care less about being 'engaged', and who feel that a Tweet or Wall Posting is not exactly delivering the goods.
We planned our budget to ensure that there was collateral marketing and communications tools available to make a link between our online activities, media relations, PR, and gov't relations. I'll be taking a long hard look at our mix as I prepare for the next budget to make sure that time and energy is not sucked up into the vortex of the 'free'.

Mike

People take mental breaks and distractions every day in the work. This is proven true at every level in an organization. The mind needs the break from the routine, from the stress, etc. Twitter, high page-rank value for one, socially connected another, and sometimes entertaining to boot, offers a distraction that is quasi-productive. If anyone is going to waste time with a little “fun & games” where would you find the most value as a business? Around the water cooler, standing outside with a cigarette, reading a book, chatting up another co-worker, Twittering, Facebook, or some other unknown distraction? Basically… no easy answers but some food for thought that I believe has strong merit.

[...] Lane from Overlay TV recently evaluated the value of Twitter for business executives. He does agree with the ability of companies to track what people are [...]

[...] a side note: check out overlay.tv’s fascinating entry on the “Value of Twitter” and the costs of the time spent in cold hard cash here: [...]

[...] Beoordeel borrels, virtuele netwerken en twittersessies ook eens op hun expertise-gehalte. Stel je leest vijf tweets voor elke tweet die je zelf schrijft. Elke geposte tweet staat dan gelijk aan [...]

[...] Beoordeel borrels, virtuele netwerken en twittersessies ook eens op hun expertise-gehalte. Stel je leest vijf tweets voor elke tweet die je zelf schrijft. Elke geposte tweet staat dan gelijk aan [...]

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