Twitter has been the subject of much speculation in the past quarter, with rumors that the company may be up for sale with potential buyers such as Google, The Walt Disney Company, Apple and Salesforce.
Although the company has posed some concerns to shareholders due to its financial performance, and many have claimed that the social network is dying, its recent performance shows that Twitter still has tremendous value.
Today, Twitter posted third quarter financial results. The company posted revenue of $616 million, up 8% year-over-year, and promising audience metrics:
- Average monthly users (MAUs) were 317 million for the quarter, up to 3% year-over-year and compared to 313 million in the previous quarter.
- Average daily usage (DAU) grew 7% year-over-year, an acceleration from 5% in Q2 and 3% in Q1.
According to Jack Dorsey, Twitter’s CEO, the company strategy is to “directly drive growth in audience and engagement, with an acceleration in year-over-year growth for daily active usage, Tweet impressions, and time spent” on the platform.
In the past year, the company has made some serious moves to increase user engagement on the platform, including live-streaming and the streamlining of its core service (i.e. updating what counts in a 140 character tweet).
Our take on the value of Twitter
As a Twitter Developer Partner, we’re optimistic about this trend of growth in Twitter’s active user base. The social network offers a huge amount of data on what people are talking about and what people are interested in. It’s an incredibly useful way to discover trends as they are happening, and there’s a ton of information that can be gleaned from people’s posts and leveraged for more authentic marketing.
Despite Wall Street’s concerns about Twitter’s growth, Socedo’s customer base has consistently seen solid engagement and response rates from their campaigns to engage with various professional audiences on Twitter. Recently, we took a look at campaign engagement across our entire customer base. Here’s what we found:
- As of end of September, 2016, our system has discovered 125 million unique leads that fit our customers’ search criteria
- We’ve indexed 207 million tweets
- To date, our customers have collectively executed campaigns to reach over 4.1 million unique users
- Collectively, our customers have gained 1.27 million followers from their campaigns
- These campaigns average a 16.1% response rate and a 14.8% click through-rate, which is about 10 times the engagement rate of a typical marketing email.
As a marketing team, we’ve been able to consistently build pipeline using our own product, which is powered by Twitter data. Month over month, we have seen steady referral traffic to our website and marketing qualified leads from the campaigns we run.
In the past six months, we’ve also experimented with new ways to use Twitter’s contextualized, real-time user data. We’ve found a good use case in real-time marketing emails to increase conversion rates and accelerate leads through our marketing pipeline.
In fact, we’ve matched all leads in our marketing automation system to their Twitter profiles and monitor in real-time relevant conversations that our leads are having on Twitter (through our own Social Lead Acceleration solution). This data helps us identify warm leads in our database based on what they’re talking about on Twitter, so that we can trigger emails contextualized to their recent tweet. Below is an example of the type of email we’re talking about:
Now, we can take the conversation from social media to another channel that’s more conducive to having deeper conversations and send leads a more direct call-to-action. We’ve found that our emails triggered-by real-time social activity have an average of 47% open rate and 6 % click-through rate, which are magnitudes better than our traditional nurture emails.
Is Twitter really dying?
No. it’s still a good place to find your target audience and connect with business contacts. Twitter is the most social platform because it’s where you can see what everyone is interested in and jump into a conversation with anyone.
Yes, Twitter does have a firehose problem, but you can cut through the noise by searching conversational (i.e. events, industry hot topics, influencers) and biographical keywords to identify your target audience. If you’re engaging with people the right way, by having relevant conversations with the select group that are your potential customers, you can get surprisingly positive results.
See for yourself how you can find and engage your target audience on Twitter with a free trial of Socedo.