Startup Blog

Twitter Can Deliver Real Business Value

Posted by Mike Volpe on 1/21/09 12:21 PM

I recently responded to a discussion on an email group about the business value (or lack of value)from using Twitter.  I thought others would find my answer interesting.  Most of the people thought Twitter was a complete waste of time.  I disagree.

My thoughts are below:

I agree that Twitter the company has some work to find a viable business model. But I think I disagree that Twitter is a not a useful tool for marketing and building your own business.

Twitter is another medium to build relationships, and marketing is about relationships. In a time when outbound marketing is becoming less and less effective - cold call connect rates declining, email blast and direct mail response rates declining - Twitter is a great opt-in, inbound marketing tool to engage your consumers.

Some stats on Twitter:

  • Twitter has 5-6m accounts, and is growing by 5,000 - 10,000 per day
  • Dell sold $1m in PCs using Twitter
  • Zappos and Comcast have used Twitter to greatly enhance their brands via customer service
  • HubSpot (my company) has built a "list" of over 30,000 people that follow one of our Twitter personas and opt-in to receive notifications of our webinars, which generates leads
  • HubSpot has closed a number of new customers that originated through Twitter, and Twitter conversations have influenced a number of other deals during the decision making process

Some related links:

Twitter might not be right for every single business, but a lot of companies are having success using Twitter.  Agree?  Disagree?  You can follow me on Twitter and we can discuss.

Mike Volpe

Written by Mike Volpe

Mike Volpe is a startup advisor and angel investor based in Boston.

Topics: social media, business model, Twitter

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