Do you Twitter? It seems all the world is in a flutter about Twitter and tweeting but what does that really mean to you? Why are so many people jumping on the Twitter bandwagon and how is one to know if they should join in? Businesses as well as individuals are finding ways to make the Twitter service useful to them.
But with so much talk about Twitter and tweeting on the news and in the media, many people are left wondering what it really is, what its purpose is and whether or not they should be using it. For some, the simple tweets about mundane tasks such as walking your dog seem silly. Others see it as an amazing business opportunity to get your name out to potentially millions online. With so many different ways that Twitter can be used by an individual or a business, it's no surprise that it's catching on so quickly. But what does this mean for Twitter as a company and what does it mean for the people who use it?
Twitter is more than just another social networking site. This micro-blogging platform is designed to be a place for people to blog in 140 characters or less. It also allows for quick linking of photos, URLs and more. This gives a lot of opportunity for people to use Twitter how it seems fitting for them.
The Internet is full of tools, tips and hints for making the most of Twitter. There have even been videos made and a great number of applications to help make using Twitter easier. There are tools to help you organize your followers and followings, manage tweets, post date your own tweets, read tweets in conversation mode and so much more.
Each day, Twitter fans are creating new applications to be used with the program and looking for new ways to manage their accounts, grow their followings and use Twitter to their advantage. A great number of famous people, including actors, politicians and musicians have Twitter accounts. Many famous people such as Oprah have made Twitter a household name. it's not surprising then that there is such a Twitter "rage" happening all over the world.
Twitter was founded by Jack Dorset, Biz Stone and Evan Williams in March of 2006. The business is located in San Francisco, California and funding is set at $55M. The service is currently free to use and there is no limit on the number of accounts that be placed on Twitter.
New Terms Agreement
If you're up on your Twitter buzz, you probably also know that they just release some new changes to their terms agreement. As far as the new terms agreement goes, much of the Twitter community seems happy about it but there are still some questions regarding advertising and whether or not it will be allowed on Twitter and if so, in what form.
Recently, Twitter co-founder Biz Stone posted news about the changes to Twitter's Terms of Service. If you are an account holder, you should have gotten an email regarding this with links to the new terms agreement. This update cleared the air regarding ownership of tweets, updated guidelines about the Twitter API and opened the door or rather, left the door open, for advertising opportunities on Twitter.
The privacy issue was an important one for Twitter. Many will remember how this was a big issue for Facebook. Basically the agreement states that while tweets always remain the property of the owner, Twitter does have the right to use them, copy them, reproduce them, process, adapt and modify as they wish. This is, after all, what they do on Twitter.
Regarding APIs, Stone stated that the apps have flourished around the Twitter platform and they believe they add value to the network system. They are also working on guidelines for use of the API. Abusive behavior such as spam is also covered in the terms agreement.
Regarding passwords, the new terms agreement also states, "You are responsible for safeguarding the password that you use to access the Services and for any activities or actions under your password. We encourage you to use "strong" passwords (passwords that use a combination of upper and lower case letters, numbers and symbols) with your account. Twitter cannot and will not be liable for any loss or damage arising from your failure to comply with the above requirements."
A Revenue Problem
When it comes to a hot startup like Twitter, one question that comes into play is revenue. With Twitter getting so much attention this year, it brings on the question of what to do about revenue. They've toyed with the notion of ads or no ads and once revenue is turned on, it can have an impact in a big way on how the company is valued in the market.
This could be a good or bad thing for Twitter which may be why they have been hesitant to make the call to turn revenue on. There are several examples of Internet acquisitions that have made millions or even billions of dollars. This took companies who had no revenue to speak of that then owned a part of a new and fast growing market. Could Twitter be another example of this?
When a company doesn't have revenue, they cannot be valued based on a multiple of revenues; it can be hard to tell exactly what a company is worth. Basically this is a complicated business way of saying that you won't likely be acquired by businesses. So the market will have to only guess as to what your potential revenues could be.
It's not a small question for Twitter to talk about turning on revenue. This is because while it may sound good, there are actually some problems that can come along with it. For example, a company's valuation can go down when they turn on the revenue. If the revenue was not as much as you thought or if your company has some other types of problems, you could end up in real trouble.
This is why it's a shaky decision for Twitter to choose whether or not to turn on revenue. For now, they're leaving the door open but have yet to decide if this is the right move for them to make. Only time will tell, it seems.
Is Twitter for You
So now that you hear so much about Twitter in the news and online, how can you decide if Twitter is right for you? Should you join the Twitter craze or is it a waste of time? The only true way to know the answer to this question is to evaluate what you would use Twitter for. First, decide if you want a personal or business account (or one of each). You will need to know how you plan to use your account before you can determine what type you need and if it's even for you.
A personal account may be used for daily mini-blogging, sending tweets from your mobile device, keeping in touch with friends and family or following what's happening online and in the news. For example, you can follow your favorite celebrity or a band on tour.
If you're going to use it as a business account, you might advertise your links and websites, update people about your company and what changes you might make, advertise a launch of a new company or product and more. You can link to articles for article marketing, blog posts and much more
If any of these uses for Twitter sound like something you might be able to benefit from, then it's worth it to consider it as an option. If you're using Twitter for business, there is a lot of room for success but the most important thing you can learn is not to spam your followers with too much self-promotion. Not only could this get you removed from Twitter for breaking the terms of service but it can also cause people to unfollow you, block you or even blacklist you for being a spammer.
When you learn to use Twitter the right way to your advantage, there are many great benefits to it. Then there will always be some who disapprove of social media of any type or who just don't believe Twitter is for them. You have to make a personal decision for yourself about it. One thing that's for certain is that Twitter appears to still have a lot of growing to do.
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