Essentially a general election campaign is an exercise in marketing. Parties are trying to reach distinct audiences with their key messages and convince them to put a cross in the box next to their candidate’s name. To confuse matters slightly you have both national and local campaigns, potentially with different issues that have to be addressed. For example in some constituencies it is simply a matter of defending a majority by making sure people go out to vote, while in the marginals where the election will be won or lost it is about securing every vote possible.
It is also a pressure cooker environment. General election marketing is carried out in an intense campaigning period, with the eyes of the media permanently trained on everything that the parties do. So, for normal marketers what lessons can we learn – both positive and negative? I’d pick out five key ones:
1. Show passion
One of the criticisms levelled against David Cameron is that he doesn’t seem to care about the election and potentially winning a second term in office. Whether this is true or not, his perceived insouciance stands in stark contrast to the firebrand rhetoric of the challenger parties such as UKIP and the SNP. If you want to connect with your audience, show that you really are engaged with them and demonstrate you understand their concerns.
2. Don’t take your audience for granted
The days of a two party system appear to be consigned to history, with some of the safest Tory and Labour seats under attack from challenger parties. This is part of a wider dissatisfaction with professional politicians, which the electorate feel is out of touch with their lives and concerns. The lesson for marketers is that challengers can pop up in any industry, no matter how high the barriers to entry, if you fail to deliver what your audience wants.
3. Check, check and check again
I’ve had an election leaflet that says “insert local message here” at the bottom, while Tory MP Matthew Hancock has been embarrassed by an unfortunate fold of a campaign flyer that removes the first three letters from his name. The message is clear – no matter how pressured you are, it is vital to check everything that goes out if you are to avoid slip-ups.
There hasn’t been a lot of innovation in how the main parties have campaigned during this election. Speeches, battle buses, visits, kissing babies and celebrity endorsements have been the norm. Ed Miliband visited Russell Brand, but given that Brand had earlier told his followers not to bother voting it remains to be seen what the impact of his chat actually will be. The TV debates that helped Nick Clegg to power last time did happen, but in a variety of formats that meant they lost their overall potency – exactly as David Cameron had hoped. Perhaps what is really needed is innovation within the whole process. You can register online to vote, but you can’t yet vote online or via text. Surely it is time to change this to encourage greater participation?
5. Embrace all channels
One of the key differences between most marketing and a general election is that each party is aiming to appeal to a wide age range. So you have to have specific messages for older audiences and the millennials who could be voting for the first time. That’s one of the reasons that this was predicted to be an election that embraced social media, particularly to reach younger voters, who traditionally have been less likely to vote. I’m not convinced that any party really nailed social media – or even if that is possible – but think that most of them could have done more to build engagement on the channel. Still, Twitter saw some interesting memes, with #milifandom making Ed Miliband an unlikely sex symbol.
As I write this on the morning of polling day the expected result is a hung parliament, with no party having a sufficient majority to govern alone. So on that score the major parties’ marketing will have failed. However if you look at the campaign as a whole, there are plenty of lessons to learn about what to do – and probably most importantly, what not to.
May 7, 2015 Posted by Chris Measures | Creative, Marketing | Conservative Party (UK), David Cameron, Ed Miliband, election, General Election, Labour Party (UK), Nick Clegg, Question Time (TV series), Russell Brand, social media, Tory, twitter, UK Independence Party, vote | Leave a comment
I’ve mentioned previously that Twitter is at a bit of a crossroads. Compared to its social media brethren Facebook and LinkedIn it has found it hard to make the move from a network with lots of users to a viable business making significant profits. Twitter may have grown revenues to $1.4 billion in its 2014 financial year, but it is dwarfed by Facebook, and made a net loss. It even lost 20 million users in the last quarter of the year.
Therefore it has been looking around for ways of increasing both engagement and revenues. Given that the 140 character limit on tweets is more than a little stifling, it has made a big bet on video – first with Vines and now with Periscope. With Vines being extremely short (essentially 6 second loops) they at least fitted in with the stripped down nature of Twitter.
However Periscope is something much more long form. Essentially it is an app that lets you live stream pictures from your mobile phone, in real-time, to your followers. It isn’t a new idea – apps such as Bambuser and Livestream have allowed this before. Even more recently Meerkat was the hit of the SXSW festival and raised $12m in funding, announced on the day that Periscope launched. As is the way of cool free new stuff, Periscope has quickly become wildly popular (in social media land at least). This is partly due to its ease of use, but probably more to the prevalence of wifi networks and all you can eat 3G/4G data packages that mean live streaming isn’t going to run up huge bills.
Unlike Vines, which have not really moved beyond being a niche application, there is obviously a lot of potential in live streaming, provided that Twitter can capitalise on its early mover advantage over the likes of Facebook. I can see five ways it can be easily used.
We live in a real-time news cycle, driven by the likes of Twitter. Therefore it makes a lot of sense to add video to tweets from a press conference or the scene of a breaking story. It won’t replace having a full camera crew on hand, but will fill the gap between recording and going live. And it will be a boon to citizen journalists and members of the public, giving them another way of recording and sharing stories.
2. Adding to the buzz around events
Twitter works really well at collating and sharing what is happening at events such as conferences. By creating a hashtag and encouraging its use, information and opinions can be quickly published and, most importantly, found easily. It is even possible to skip the conference altogether and just follow the key points on Twitter. Expect conference organisers to embrace Periscope and encourage its use to give a fuller insight into events.
3. Sharing sports events
Much of the internet is driven by either porn or sports, and the X-rated opportunities for Periscope are pretty obvious. I presume Twitter will be quick to crack down on them, but the fact that you can live stream from a sporting event has more lasting possibilities. On one hand it will enable people to share football matches as they happen (expect screams of indignation from rights holders), but more importantly it will let niche sports get their coverage to more people, while using a minimum of infrastructure and at low cost.
4. Catching out celebrities/politicians
I’ll wager that it’ll be about a week before the first politician is caught saying something stupid/offensive while being live streamed. And, unlike Meerkat, Periscope video streams are kept for 24 hours, meaning that the evidence will be there to be shared, retweeted and generally distributed to the world. Celebrities are likely to fall into the same trap – expect people to use live streaming to replace selfies and photo bombing as a way of interacting with/embarrassing their heroes.
5. Live streaming cats
If cat videos are the most popular things on YouTube, it won’t be long before someone puts their cat on Periscope, either live streaming everything they do or finding a way of rigging up a camera to them to show everything they are doing.
Time will tell if Periscope actually does provide an extra dimension (and revenue earner) to Twitter. However, given I’ve seen people taking photos of all their meals and putting them on Facebook, be prepared for a combination of a lot of mundane content (and complaints from phone users who rack up huge bills) in the early days before it potentially finds its place.
April 1, 2015 Posted by Chris Measures | Creative, Social Media, Startup | Bambuser, Facebook, Greylock Partners, live stream, Meerkat, Periscope, social media, Streaming media, SXSW, twitter, YouTube | 2 Comments
When you think of Starbucks, the first thing that comes to mind is not discussions about race. So the company’s latest US campaign, called Race Together, which seeks to start discussions between baristas and customers feels misplaced.
Firstly, let me say I don’t doubt that it is motivated by the right reasons, rather than a desire to differentiate or for marketing purposes. It follows extensive staff open meetings where partners (staff) have discussed the whole situation of race in the USA after high-profile cases involving the police and black citizens in New York and Ferguson, Missouri, amongst other places. And in many ways it goes back to the original purpose of coffee houses as venues for, often raucous, debate and discussion.
However as the overwhelmingly negative feedback on social media confirms, a 21st century chain coffee shop is not the place to have a measured discussion on a topic as sensitive and nuanced as race. As one tweet put it, “I don’t have time to explain 400 years of oppression to you & still make my train.” I’d agree – as someone that absolutely refuses to give my name when ordering a coffee, being forced into talking about a difficult subject, no matter how important, with someone I don’t know is not my cup of tea. I’d say there are four reasons it feels like the wrong place for this type of communication:
1 Fit with purpose
People go into a coffee shop to get a drink, and while they may have an unprompted chat with a barista, it is more likely to be about sports or the weather than race. They aren’t necessarily in a mood to talk to anyone until they’ve had their first coffee of the day, and if they are would prefer to choose the subject themselves. And how can you have a long discussion about a complex subject in the couple of minutes it takes for your coffee to be ready?
2 Unbalanced relationship
There is also a monetary transaction involved – it doesn’t feel like an equal conversation when one person is a customer and is paying. A discussion that could be had on an equal footing outside Starbucks most definitely can’t be seen the same way within the coffee shop.
3 Training and knowledge
Baristas at Starbucks haven’t received any special training in debating, and are of course still expected to carry on doing their jobs while engaging customers in discussion. Notwithstanding the potential impact on the coffee they are making, the risk is that they are out-argued by customers on specific points, adding to the issue, rather than helping solve it.
4 Risk to reputation
As a communications professional I’d also look at the risk to Starbucks’ reputation. It is easy to be very British about Race Together and just write it off as patronising, ignoring the genuine American issue behind it, and the more open US culture of discussing your life with complete strangers. But you have to look at the slew of negative tweets and articles to see that many Americans were not impressed. Additionally, given the global nature of the brand, a campaign in the US has an impact across the world, affecting the attitudes of coffee drinkers in other countries.
Most of all it reminds me of a Monty Python sketch, where Michael Palin pays John Cleese to have an argument. It deteriorates rapidly into just contradiction and is ended by a combination of the police and some wooden mallets. I’m not suggesting that the same approach is necessary in Starbucks’ case, but it needs to focus its efforts differently if it wants to get its message across and a proper discussion started.
March 25, 2015 Posted by Chris Measures | Marketing, PR, Social Media | American Dream, Coffee, Communication, discussion, Ferguson, Howard Schultz, PR, race, social media, Starbucks, USA Today | Leave a comment
The old saying is that everyone has a book in them – it is just a question of sitting down, writing it, finding a publisher, marketing and then selling it. That used to be the hard part but technology is changing this, making the whole process easier. No wonder that UK publishers released 184,000 new and revised titles in 2013 – the equivalent of 20 books an hour, which means the country published more books per inhabitant than any other nation. In the US 1.4m print books were released in 2013 – over five times as many as 2003. That figure excludes anything self-published, pushing the total up even further.
So, what is driving this growth – and what does it mean for publishers? There are essentially four ways technology is making the writing and publishing process easier:
1 Writing and editing
The platforms for editing and proofing manuscripts are now predominantly online. This makes it easier for a single editor at a publishing house to work with multiple authors, and also allows the different parts of the process to be subcontracted to copyeditors, designers and proof readers.
2 Publishing the book
The rise of ereaders like Amazon’s Kindle mean that books don’t physically need to be printed. This speeds up the publishing process as it removes the sole manual, mechanical and time consuming part of it – getting ink onto paper. Technology is also changing physical printing, with short runs a lot more feasible due to digital printing.
3 Distribution channels
The rise of ecommerce has decimated high street book shops, and has concentrated power in the hands of online retailers. Whatever the consequences for the public, this makes the job of authors easier as they can promote their book and simply direct potential buyers to Amazon. If they route them through their own website they can even collect affiliate fees. No need to keep an enormous box of books in the spare room and then laboriously pack and post each one to fulfil an order.
With this increased competition from more and more new titles, the job of an author is now more about marketing than ever before. As this piece in The Economist points out, authors have to be much savvier about the different ways of promoting their tome, from gruelling book tours to ensuring that it is stocked/sold in the right stores to make particular bestseller lists. A lot of this comes down to brand – if you have built up a following and people know who you are, it gives you a headstart in shifting copies. Hence the enormous number of ghost written celebrity biographies released every Christmas and the high sales of books ‘written’ by Katie Price.
Social media gives the perfect opportunity to develop that brand, before putting pen to paper. Promotion of Ann Hawkins and Ed Goodman’s excellent New Business: Next Steps, a guide to developing your fledgling business, was helped by the community and following the authors had previously built on social media. Cambridge Marketing College (CMC) is self-publishing academic books, based on its existing reputation, large numbers of alumni and the shrinking costs of digital printing. Due to its ongoing courses, CMC knows where there are gaps in the market for textbooks, and can therefore exploit them. The key points here are that the brand and following were created first, rather than trying to launch a book and create a buzz from scratch at the same time.
The changing market also begs the question – do we need publishers anymore? After all, the costs to publish a book, either physically or digitally, are much lower than ever before. This means that publishers need to up their game, adding value across the entire process and embracing digital techniques to help find and promote authors, crowdsource ideas and use technology to push down their costs. Otherwise smaller publishers without a defined niche risk being pushed aside by well-developed brands that can use technology to find gaps, develop the right content and market it professionally. The publishing market is changing rapidly – the only sure thing is that the number of new titles will continue to rise.
February 25, 2015 Posted by Chris Measures | Cambridge, Marketing, Social Media | Amazon, Ann Hawkins, Cambridge Marketing College, Ed Goodman, Katie Price, Kindle, Measures Consulting, New Business, publishing, social media, The Economist | Leave a comment
It wasn’t that long ago that the only spies in the public eye were James Bond and prominent Cold War defectors. But over recent years high-ranking intelligence chiefs have stepped out of the shadows to appear in public, write books and give interviews. They’ll be inviting the public to tour MI5 or the Pentagon next. It all seems a bit counter-intuitive as I’d have thought keeping a low profile was one of the key skills that intelligence agencies were looking for.
The latest spy to break cover is Robert Hannigan, the new head of GCHQ. In an interview with the Financial Times to mark starting in his new role he lambasted social networks such as Twitter, Facebook and WhatsApp, calling them “command-and-control networks for terrorists and criminals.” One of his key concerns is the spread of encryption techniques on common mobile phone operating systems – both Apple and Google have recently made encryption a standard feature that users can opt-out of rather than having to opt-in to use.
This is obviously good for privacy, but bad for those looking to monitor the activities of terrorist cells. In his article Hannigan issued a plea for more openness and collaboration between tech companies and the security services.
But in my opinion he’s overlooking two major factors. Firstly, demonising social media is a bit like criticising the telephone network for being used to plan a bank robbery. It is, as tech companies claim, an agnostic platform. If the police suspect a crime is being committed (or planned) there are processes in place to work with a social network to assist them in their enquiries. Normal people don’t see Facebook as a threat to their safety – though, given what some seem happy to share online, perhaps they should.
And secondly, and perhaps more importantly, there is a lack of trust in the security services. The revelations of Edward Snowden showed, as many suspected, that our online activities are being spied on. Recent revelations about police being able to access the telephone records of journalists without needing a warrant using Regulation of Investigatory Powers Act (RIPA) legislation just add to this.
The trouble with the whole debate about online privacy is that it is becoming increasingly polarised. On the one hand social networks support their ‘free’ business model by collecting and selling data on the interests of their users, allowing them to be targeted with ads. Then at the other end of the spectrum the security services are demanding more access to the very same data. The people in the middle are the users, the vast majority of whom have no idea of how much they are being tracked when they go about their business online. What is needed is more education so that it is clearer about how they can legitimately protect themselves online, rather than both sides scaremongering about the other. Terrorism is a threat to a free internet, but equally so is draconian, untargeted snooping by intelligence agencies and the erosion of user privacy by the networks that we rely on.
November 5, 2014 Posted by Chris Measures | Marketing, Social Media | Edward Snowden, Facebook, GCHQ, intelligence, marketing, Privacy, social media, Spy, Terrorism, twitter, WhatsApp | Leave a comment
As anyone that has read George Orwell’s 1984 knows, the ability to rewrite history and manipulate information is at the heart of controlling behaviour. As communist Russia showed, people could simply be airbrushed from the official account and would vanish from the public consciousness.
Of course, in the age of social media, the web, and 24 hour global media, this ability to control news should have disappeared. If a government blocks a site or a mobile phone network, there are ways around it that spread information quickly, bypassing attempted censorship.
However, I’d argue that the reverse has happened and that Big Brother can operate stealthily in two ways. Firstly, rumours can start and spread unchecked, with the majority of us not taking the time to get to the original source, instead believing something that has been retweeted or shared on Facebook. I’ve had people swear blind to me that a major incident took place ‘because I saw it on Facebook’ – though I can’t believe they’d be as credulous if a random stranger told them the same story down the pub. By the time the truth is out, immeasurable damage can be done – to a company’s brand or share price or a person’s reputation.
Secondly, we believe what our computers tell us, and act accordingly, particularly when it chimes with our own preconceptions. Essentially we think that the complex algorithms that control what appears on our screens are unbiased, rather than reflecting what the site owner has determined in some way.
This leaves us open to manipulation, whether by marketers trying to sell us things or more sinister experiments. Facebook received justified criticism for running an experiment where it tampered with the stories in people’s timelines, seeing what the impact would be on what users themselves wrote. Unsurprisingly the percentage of negative or positive posts had a direct link to the tone and language people used in their own posts.
Now dating site OKCupid has admitted that it experimented on its users. This included deliberately pairing up unsuitable couples and telling them that they were a perfect match to see what would happen. Now, there’s nothing wrong with a little serendipity, but deliberate meddling risks breaking the trust between a site and its users. Throwing in a wildcard of “here’s someone completely unlike you, but why not see what happens if you meet?” is one thing if it is advertised, but quite another if it is hidden behind the veil of computer processing.
Some might argue that this is just a next step in techniques such as Nudge, where choices are ordered in a way to drive particular outcomes. These are supposedly for the greater good. For example, if diners come to the salad bar first in a cafeteria they eat more healthy stuff and if you automatically enrol people in pensions, they tend not to take the opportunity to opt out. But I’d say it goes much further than this, and is about trust.
In many ways breaches of trust are similar to security breaches – something that the user relied upon unthinkingly has been removed, calling into question the entire relationship they have with a company. And like trust in any relationship, it is a time-consuming and difficult process to rebuild it.
So, anyone involved in marketing, media or technology does have a responsibility to be as open and transparent as they can be. At the very least there are legal safeguards (such as the Data Protection Act) that need to be obeyed, but I think companies need to go further than that. We live in a world where people want to have a genuine relationship with brands that they respect and trust, rather than the transactional, one-sided versions of the past. Therefore organisations need to think first about the consequences of experimenting on their users before playing Big Brother with their lives.
July 30, 2014 Posted by Chris Measures | Marketing, Social Media, Startup | 1984, Big Brother, Christian Rudder, Facebook, George Orwell, Nudge, OkCupid, Online dating service, social media | Leave a comment
Technology has disrupted many industries, radically changing the roles of those that work in them. Thirty years ago, every medium or large organisation had a typing pool, with secretaries that took dictation and then typed letters, tippexing over any mistakes. Insurance was primarily sold face to face through brokers, while buying a CD involved a trip to the nearest HMV or Virgin Megastore.
It is now marketing’s turn to feel the impact of technology change. When I started in PR 20 years ago, technology essentially involved a desktop PC, a landline and a fax machine. I remember setting my heart on being promoted in order to ‘earn’ a work mobile phone and the excitement when internet access and email arrived. Things have changed a great deal, but essentially by simply automating existing processes. Rather than physically posting press releases to journalists, PRs now send an email, and marketing campaigns are now integrated and include digital channels. And you could argue that these changes have benefited PR and marketing – the sector is larger than it was, with more senior level practitioners.
However, digital business as usual is no longer enough. Marketing is now being transformed by technology, with those working in it enabled by a whole range of new tools and abilities that completely change how the entire industry operates. This is being driven by three key trends – the rise of Big Data, social media, and improved, end-to-end measurement tools.
1. Big Data – beyond the hype
We live in a world where data is being created an astonishing rate. And much of this data is personal information created on social media and consequently of interest to marketers. You can select target audiences to advertise to using the most narrow of parameters – if you want to reach one armed female ferret fanciers in Altrincham it is easy to do. But to make Big Data work for marketing, you need to learn technical and real-time analytic skills that can be at odds with the traditional annual or six monthly campaign-based approach that many people were brought up on. You also need flexibility, a desire to experiment to see what works, a willingness to learn from mistakes and a focus on constantly adapting and improving what you do.
2. Social Media – the balance has shifted
The relationship between marketers and consumers used to be balanced firmly in favour of corporate suits. Campaigns were launched at their target markets, and while there was some market testing, it was normally late in the process. Social media changes all that – consumers have the chance to have their opinions heard by a global audience instantly, uncontrolled by marketing organisations. The latest example of this is the Comcast case, where a call to cancel an internet connection degenerated into the customer service agent berating the consumer for having the temerity to try and leave. Over 3.5 million people listened to the customer’s recording of the call in just a few days. Marketers have lost control of the conversation.
3. You can measure everything
One of the traditional issues with PR used to be that it was difficult to measure. At a simplistic level you could count clippings, or even assign them a monetary value based on advertising rates, but these were crude and didn’t link to other marketing disciplines. Now you can measure everything, seeing exactly what a prospect has viewed on the way to a purchase and use Big Data algorithms to weight the relative impact of every contact on the eventual sale. Software enables you to link different channels seamlessly, so in terms of PR and social media you could see how individual articles or tweets have moved the customer journey forward.
So, some of the skills that marketing people took for granted as useful – empathy, the ability to schmooze and being good on the phone/in meetings – are no longer enough. You need to be able to use technology as a lever to better understand customers in a scalable, real-time way, and have the strategic skills to create content that will best reach them. For a traditional industry such as marketing this does mean changing how people operate – which can be uncomfortable and even threatening to experienced marketers. However the prize is worth fighting for. Marketers have the chance to not only prove the value of what they do, but increase their own standing within their organisations by taking a more strategic role. All they need is an open mind and a desire to embrace their more analytic and technical sides.
July 23, 2014 Posted by Chris Measures | Marketing | big data, Comcast, content marketing, marketing, marketing technology, optimisation, PR, Public Relations, Search engine optimization, social media, twitter, Virgin Megastore | 1 Comment
With the World Cup almost upon us, we’re in the midst of a slew of big budget ad campaigns, coupled with unrestrained hype about the potential prospects of England making it further than the group stages. And of course we have the obligatory ‘will the stadia be ready?’ and ‘FIFA is corrupt’ stories on the front page of most newspapers.
With its global audience, the World Cup has always been a magnet for brands, something that has swelled FIFA’s coffers. Obviously you don’t need to be an official sponsor to jump on the bandwagon (provided you are careful you don’t infringe copyright). For example, bookmaker Paddy Power has already come up with a (for them) remarkably restrained campaign, commissioning Stephen Hawking to look at the factors necessary for England to win the tournament. Just avoid penalties – as the renowned scientist pointed out when it came to shoot-outs “England couldn’t hit a cow’s arse with a banjo.”
This should be the first real social media World Cup, with traditional broadcasting sharing the stage with the likes of Twitter, Facebook and YouTube. As the marketing focus has shifted online, and more towards real-time activities, it does mean the playing field has levelled. It doesn’t quite let Accrington Stanley take on Brazil, but it offers a better opportunity for non-sponsors to get involved and engage with fans. Good, creative, well-executed campaigns don’t necessarily require enormous budgets, but do need brands to understand social media influencers and reach the right people if they are going to succeed.
Looking at social media, YouTube has been the early front runner, as brands increasingly put their video adverts on the site, either in addition to big budget TV slots or as an alternative for smaller brands. Castrol’s Footkhana ad, featuring Brazilian footballer Neymar and rally driver Ken Block has already had over 15 million views on YouTube, a figure that is bound to increase as the tournament nears. Nike’s ad, featuring Cristiano Ronaldo, was seen online by 78 million people in four days – before it even went on TV.
When we get to the matches themselves, expect a flurry of activity as brands try and embed themselves into second screen conversations. Facebook estimates that 500m of its 1.28 billion users are football fans, while the 2012 Champion’s League final generated 16.5 million total tweets. Social media has already become a major part of big sporting events – and the World Cup will demonstrate this. It gives non-sponsors a chance to muscle in on the action, but is going to require a combination of good planning, quick reactions and genuinely engaging content if they are going to actually reach the right audience. Competition will be fierce – as well as brands, pundits, media organisations and the general public will all be looking to have their say, so expect Twitter records to be broken.
In essence there are three competitions going on simultaneously – on the pitch, between brands and also between the social media networks as they look to monetise their members and wrest advertising and marketing budgets from traditional channels. All of these promise to be fascinating contests – however far England actually get.
June 4, 2014 Posted by Chris Measures | Creative, Marketing, Social Media | Adidas, Brazil, Cristiano Ronaldo, England, Facebook, FIFA, Ken Block, Neymar, Nike, Paddy Power, social media, Stephen Hawking, twitter, World Cup, YouTube | Leave a comment
Twitter is currently in a bit of a pickle. Since it floated on NASDAQ its stock has been falling, culminating in a drop of 10% in after hours trading when it recently announced its Q1 results. The reason for the beating? A combination of slowing growth in user numbers, a trading loss of $132 million, and the ability for staff and early investors to sell their shares for the first time.
But it is important to put things in context. User growth did slow, but Twitter still added 25% more people to its network, bringing total numbers up to 255 million. And it actually made a modest profit by some accounting standards (and certainly improved from last quarter’s $511 million loss). The company is still worth over $24 billion – about the same as breakfast cereal maker Kellogg’s for example, and a lot more than LinkedIn.
Essentially sentiment has turned against the microblogging site, with investors disappointed that it isn’t growing or adding new services in the same way as Facebook. The issue is a classic one of people expecting too much and then punishing a company for not delivering what they dreamt of.
Twitter is really hamstrung by the simplicity of its service. You go on, give a 140 character update on what you think is interesting, see what other people are saying and have a conversation or two. Yes, you can share other content, such as video and photos, but as Twitter is finding it is difficult to monetise conversations, based on the limited information it holds on users compared to the likes (or should that be Likes?) of Facebook. So any new features are correspondingly limited – you can now mute people that you still want to follow, but don’t actually want to listen to (how very polite!).
There are interesting things happening on Twitter – Amazon is experimenting with the ability to add items to your shopping basket through a tweet, for example. Where it is really succeeding is in becoming the mainstay of live interaction around big events, from football matches to breaking news stories or TV shows. 5.3 million tweets were sent around the Eurovision song contest on Saturday night – a new record for a non-sporting event. And more and more companies are using the channel to give customer service support, both in terms of spotting aggrieved customers and offering a faster alternative to email.
The point is, anyone that bought Twitter stock thinking they’d got the new Facebook was, frankly, delusional. But it is time for the social network to be a bit more adventurous and start thinking outside the 140 character box. In the same way that Google is built on capturing and analysing billions of pieces of user data, Twitter needs to better understand its members and actually monetise them more effectively. I appreciate that this sounds a bit mercenary for social media purists, but as a quoted company Twitter needs to spread its wings and fly. E-commerce is one area to look at, but how about creating private twitter feeds for individual companies, enabling staff to share their thoughts in real-time, or providing ready made monitoring packages for TV shows, celebrities or organisations. Perhaps it should buy another, complementary, network such as Pinterest. It could even look at creating paid-for subscription feeds, such as stock prices or business news from the likes of the FT or The Economist. The more you think about it, Twitter is no turkey – but what it needs is to both innovate and show the market that it coming up with cool new stuff if it isn’t to go the same way as MySpace or countless others…………
Why Revolutionary Measures?
Marketing is undergoing a revolution. The advent of social media provides the opportunity for one-to-one communication for the first time since the move to an industrial society. This blog will look at what this means for B2B PR and marketing, incorporating my own thoughts/rants and interests. Do let me know your feedback!
About meI'm Chris Measures and I've spent the last 18 years creating and implementing PR and marketing campaigns for technology companies. I've worked with everyone from large quoted companies to fast growth start-ups, giving me unrivalled experience and ideas. I'm now director of Measures Consulting, an agency that uses this expertise to deliver PR and marketing success for technology businesses.
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