Tag Archives: micro-blog

Monetizing Twitter

Twitter is the “hot” thing in social marketing.

The concept is simple: Provide people with quick updates called tweets (140 character limit) in this one-to-many microblog. You try to attract as many people as you can to follow you on Twitter so more people can “hear” what you have to say.

Fame on Twitter is often measured with how often you are “retweeted” – when someone tweets your tweet – and/or how many people recommended you on Follow Friday.

But like most social media, the question always remains: how does a company monetize their efforts?

Twitter has created a cottage industry of search engines, alerts, popular topics and an advertising mechanism: TwitterHawk.

TwitterHawk allows you to send a marketing message to someone who tweets about a market you serve.

For example, if you are a credit union, you can send a marketing message to anyone who tweets about a negative experience about a bank.

The cost is an incredibly reasonable $5.00 for 100 messages. You can set your message to automatically respond or you can go through the send queue to make sure your message is truly targeted by viewing the potential message recipient’s twitter profile.

The latter is more time consuming but much more effective, especially if your company serves a limited geography.

As Facebook tries to figure out its advertising model and LinkedIn’s model focuses on keywords, TwitterHawk has found a way to reach people at the exact moment they comment about something.

So if someone tweets about their car breaking down, Ford can send them a message to capitalize on the situation.

I am not certain it is the most effective marketing tool, but to be able to hone in on that “pain” moment in a cost-effective manner may become a great way to market smarter.

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Filed under Social Marketing

Measuring Social Media

I recently learned about ViTrue’s Social Media Index which is a good thing because people are always asking me about how to measure success in social marketing.  

The Social Media Index (SMI) is a tool that measures your impact within various social media like blogs, micro-blogs (Twitter), networking sites, and photo and video sharing sites.  While still in BETA form it is interesting to see how a company or personality is faring in social media compared to its competitor.

For example on 11.10.08 Obama had a SMI of 7130 compared to McCain’s 3410 demonstrating that Obama is mentioned 2x as frequently as McCain in the various social media.  

To help you track your social marketing efforts, ViTrue’s full version allows a company to dig deep to understand which micro-blogs or photo sharing services, etc it has a presence.

Currently, the full service version is only available to companies who work with ViTrue to set up their social marketing programs, but there is discussion that companies may be able to subscribe to the SMI in the near future.  I’ll keep you posted.

Until then, check it out weekly to get a gauge on your company’s success in social marketing.

The Social Marketing Index is just another tool to help you market smarter.

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Filed under Marketing ROI