Twitter is a free service that connects people, viewpoints, ideas, and information from all around the world. publicly-traded interaction and share with other Twitter users are one of the best features of the service. Individuals and corporations can engage in dialogues with their followers by sharing links, photographs, and videos.
In twitter’s case study, we will talk about the marketing strategy of Twitter including its campaign, marketing mix, and many more. Also, go through our other blogs to read other case studies like this.
Twitter, which was founded by Jack Dorsey, Noah Glass, Evan Williams, and Biz Stone, requires users to publish, follow, and be followed by Twitter to use the service. Twitter Inc. is a publicly-traded twitter company based in San Francisco, California, that operates one of the world’s most popular and diverse social media networks. The site, which was launched on March 21, 2006, has grown to become a global platform that is accessible to people from all walks of life in a variety of languages.
Twitter is a free microblogging platform and social networking site that allows users to send and receive 140-character messages known as “tweets.” Users who have registered can send tweets and follow other users. Without an account, unregistered people can view public tweets on Twitter
Marketing Strategy of Twitter
Like any other social media plan, a Twitter marketing strategy revolves around the material you generate, publish, and distribute to engage your followers. Twitter is one of the most trending and important social media platforms out there to share useful information very fast and efficiently. You can often see tweets of celebrities, politicians, and famous personalities on news channels.
It is a microblogging platform and it allows you to create posts up to 140 characters that are called tweets, it also allows you to repost a tweet which is known as a retweet. You can also connect with people all over the world which enables you to share your thoughts and ideas with a large audience.
So there was some information about how people generally make use of Twitter, now let’s dive into the marketing strategy of twitter.
How does Twitter market itself?
You will be shocked to know that the users of Twitter have done more marketing of the company than the company itself. You generally see tweets on so many other social media platforms.
Other than that you see tweets of famous personalities on the news channels that give Twitter extensive and free media coverage. Other than this free marketing Twitter also has done a lot of marketing that aimed towards growing the users that would use Twitter daily.
People had a lot of confusion regarding what they should do on Twitter and how it is different from other social media platforms so it rolled out an ad that gave people insights on what Twitter actually stands for and how they should make use of the platform efficiently.
They positioned themselves as a unique platform where news ranging from big events to local events can be shared along with the Live Commentary. They also had headlines like “What is happening in the world?”
They rolled out a TV Commercial that was aired during the World Series and gave references towards how people can follow the updates about their favorite sport that included both texts and multimedia like GIFs. However, the company failed to capture the user’s attention because the spot was hectic and very fast-paced which didn’t allow the audience to process the images in front of them before the new clip appeared. The ad’s purpose was to make people realize that Twitter isn’t like any other social media platform where you just share and connect with your friends and family neither a position where you have to come up every day and tweet
Are other Brands Marketing for Twitter for free?
We all know how news spread so fast from Twitter to other social media platforms, by using this advantage for the benefit of the brands they started strategizing their launch campaigns on Twitter by building interest and awareness among the people about the brand’s new campaigns which is not just limited to a launch of the product or a movie release.
In turn, doing these things prompts more users to join Twitter which not only increases users on its platform but also increases interaction as brands and users can engage in a conversation with each other. The platform helps brands to increase customer loyalty and retention and also helps them post good content very easily as minimal effort is required to post on Twitter.
The above-mentioned things are the reasons which show that other brands are indirectly marketing for twitter free of cost by leveraging the amazing features. This world needed a real-time focus group and Twitter has proved to be one.
Marketing mix of Twitter
1. Product mix
The site itself, where people may promote their ideas, ideologies, and products, is, of course, the major product that Twitter gives its users. The platform is technologically modern and responsive, making it simple to use and navigate.
Twitter also has several additional goods, including an iPhone app called Twitter Music. Other goods can be found in a variety of the company’s apps, including MoPub and Trendrr, among others. Unless the sender restricts their communications to their followers exclusively, tweets can be sent and are publicly available. Individual messages can be forwarded or re-tweeted using desktops, tablets, or smartphones.
2. Price mix
Advertisement revenue accounts for more than 85% of the company’s total revenue. The organization can generate cash by utilizing promoted tweets, promoted trends, and promoted accounts. It sells sponsored tweets for approximately 50 cents each, plus $2 for each engagement. Promoted accounts, on the other hand, cost $2.50, with an additional $4 price for each new follower. Promoted trends are more expensive, costing up to $200,000 a day. Twitter also uses data licensing as a means of generating cash.
3. Place mix
Twitter is unconcerned with a person’s location, ethnicity, or creed. It has made a mark in every country it has visited, including China and Korea. There are no barriers; anyone sitting in any corner of the world can tweet about anything that is going on anywhere in the world, and with our enormous efforts to reach other planets, one may even tweet about other planets. Because of its omniscient nature, it has attracted Prime Ministers and Presidents from practically every country, who frequently use tweets to assist individuals.
4. Promotion mix
Twitter has created a body that prevents people from exploiting Twitter by ensuring that no vulgarity is included in the content that users upload. Also, no one is supposedly defaming somebody or engaging in other potentially hazardous activities. As a result, Twitter ensures that its existing users are not harmed by enforcing strict promotional restrictions that primarily aid the company’s growth and development, and without these rules in place, Twitter is nearly self-promotional.
What does Twitter do to earn Revenues?
About 86% of the Revenues are earned by the advertisements done on Twitter by the brands and people. There are many companies out there trying to make this type of Business model successful but very few companies like Twitter and Uber have been successful until now. Some of its advertising examples are Promotional Tweets, Promotional Trends, and data licensing revenue.
Twitter in and of itself is a promotional hemisphere for brands and businesses alike. The tweets allow users to receive help from these companies to reach out to a potential customer and expand. Users are exposed to different tweets on their feeds. But thanks to the verified handles, they can confirm the originality of brands and are more receptive.
Promoted accounts, especially those that are verified enable users to trust and access their promotional tweets and follow them. The more followers they get, the more fame they get. This drives the viral element and allows Twitter to become a marketing business entity and one of its kind.
Everything that trends whether its entertainment, politics or business enters into the hashtag section of Twitter. The more the users react to whatever is trending online, the more they will be receptive to the service being received. Every user wants to be updated and on top of its own game.
Data Licensing Revenue
One is by handing out data licenses and products that authorize their partners to search and approach historical and real-time data on their platform and analyze them accordingly. Their analysis also includes which data comprises Public Tweets of Public Accounts. The second method is by using their MoPub exchange to come up with mobile advertising exchange services. Twitter’s data partners work for a fixed period when buying data licenses to provide access to all or a part of their data.
After doing the research and writing this blog we realize that Twitter has not done a lot of marketing for itself rather it led the community in such a way that they marketed for Twitter and helped them grow. The brands, media, and famous personalities leveraging the fabulous features of Twitter marketed for them which led the business model to grow and become successful.
The Ad Campaigns of Twitter failed because they were not planned properly and the idea of the Ads was largely misunderstood by the audience. So this tells us that twitter’s marketing strategy was not good enough but one thing that they built was a great community which was the sole reason for the survival of this company.
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