PiggyBankNomics
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My thoughts and opinions on large business corporations, as seen as a guest writer on other sites and blogs  

The Impact of Twitter: How It Has Shaped Modern Life and Business

Twitter How It Impacts Business and Life

Twitter has impacted the way that countless people live. It has not only become a social media platform where users engage with each other, it’s a way that 100 million daily users get their news and current events. According to a 2015 Business Insider article, Twitter users post over “500 million tweets every day.”  That number breaks down to over 5700 tweets a second. As one can see, Twitter has embedded itself in our culture. However, is that embedment here to stay?

Over the last few years, Twitter has made itself more a part of pop culture by putting #hashtags on advertisements, products and television. This is a brilliant idea. Not only is the company reaching out to engage its users, the users are also provide feedback on the various services/products. Twitter has access to these tweets and has the ability to use them in analytics, compiling a large databank of users’ thoughts, wants and needs. Furthermore, the user-generated feedback can help improve the service/product and lead to other future business developments. As the online business world continues to grow, Twitter has the potential to use these analytics to their advantage, both internally and externally.  Businesses are persistently looking at concepts such as key words and search engine optimization in order to increase their online following and success. Twitter has the key to this information. Twitter users are supplying the raw data and in the future we may be seeing Twitter sell the numbers to businesses. This would produce long-term capital for Twitter.

One down fall that may present itself to Twitter, is maintaining their users. The idea of tweeting is relatively new. Is it a novice hobby? Will the users continue to tweet in 2020? 2025? 2050? Or will we look back at it in a similar way we do to that old collection of cassette types-presently irrelevant but a stepping stone in technology? As with any social media platform, Twitter must continually look for ways to re-invent itself. The users must feel like they are not only getting an engaging experience, but that they are getting a fresh and exciting experience. Twitter has countless competitors, all competing for the same online users. Platforms such as Instagram, Pintrest and Facebook all offer their users to engage with the world around them, however, these platforms offer more than just tweeting a 140-word thought. Without changing itself with its tweeters’ wants and expectations, it will suffer the same fate as many social platforms before it, such as AOL’s AIM and Myspace. (However, Reuters reported on 9/27/16, that Twitter is searching for a new corporate owner, and is expected to evolve, depending on who that owner will be)

Twitter has made it so the concept of having the world news at its users’ fingertips a realty. Users are notified of when everything happens, no matter how big or small. It is a platform that not only connects communities; it connects businesses, governments and countries. This connection has made it so people not only seek immediate information, but they strive to be heard in a sea of tweets. Everyone has their soap box, and if that soap box is correctly managed, the user can truly impact followers through progressive views and opinions.

If you want more insight on how to build your business, and/or life, with the help of Twitter, check out The Tao of Twitter, Revised and Expanded New Edition: Changing Your Life and Business 140 Characters at a Time. This is a great read that can truly be beneficial to help you grow your business by your social media presence.

 In what ways do you engage with your clients/customers using social media? Do you find that one platform brings your more success than others?

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