Social Equity: The Benefits of a Twitter Presence
Social equity garnered as a result of a Twitter presence stands to add quite a bit of value to your brand.
As with any social network, Twitter adds an entirely new degree of Social Equity to your business. However, where Twitter differs with regards to the Social Equity added to a brand is the ability to use it as a broadcast medium (to a degree) which makes it unique when it comes to social networks.
There are a few statistics of note with regards to the demographics and business capabilities of Twitter. Let us first begin by examining these figures, then incorporate the numbers into our discussion of Social Equity derived from a Twitter presence.
Interesting Facts and Figures
On Twitter, American users have a higher median income than the average American population – the largest demographic with regards to income falls in the $50K-$75K range. Furthermore, more than half of the 500 million Twitter users follow a brand, company or product.
With regards to business, 79% of US-based Twitter users are more likely to recommend a brand or store they follow, and 67% of US-based users are more likely to buy from a brand or store they follow on Twitter. How does this translate? Companies using Twitter average twice as many leads per month than those that do not. This is especially true for B2C companies. Those with more than 100 followers (not a difficult goal to reach with a proper strategy in place) have 146% more leads per month because of their activity on Twitter.
Lastly, 58% of consumers following a brand on Twitter say they have praised a brand or company for a product, service or interaction.
Social Equity Derived from Twitter
As a pseudo-broadcast medium, Twitter allows brands to both engage with users and market themselves on the social network. It is for that reason that we see the numbers above. Twitter allows brands to engage with users talking about their niche, establish themselves as experts or industry leaders and drive conversions directly from the network.
Effectively, what this means is that Twitter is a realm in which brands can target leads and work to drive conversion all in one space. Granted, the main goal of Twitter should not be to market your brand. That is an added benefit of the network. The real goal should be to build your brand’s authority, which in turn will result in increased leads and conversions.
With regards to Social Equity, Twitter acts as an international platform on which to grow your brand’s reputation both on the widespread market and on an individual basis. The figures above suggest that Twitter is a medium in which people seek out industry leading brands and not only do two-thirds of these users have the potential to convert, but nearly four-fifths are going to recommend these brands to their peers.
As we noted in last week’s Social Equity segment on Facebook, true equity can be measured not only in the value added, but also in the losses incurred as a result of not having a presence on Twitter. With such a vast marketplace at your fingertips and the ability to grow your brand’s authority on both the personal and overarching levels, it seems almost counter-intuitive to not have a presence on Twitter.
Do you use Twitter to engage with your audience? How are you measuring the Social Equity derived from a Twitter presence? Tell us in the comments below or on Twitter!
