Twitter Archives - Woolf Media & Marketing

April 23, 2012

Facebook and Twitter Are Eclipsing Corporate Blogging

I’m sorry. I have been remiss in keeping the PRagmatist up to date in recent weeks. I realized it’s been more than a month since my last blog post so it is high time I added some fresh thinking here to share with you.

But then, I’m just following the trend of corporate America. According to a new research report from the University of Massachusetts Dartmouth, corporate blogging is clearly on the decline:

Of the companies they surveyed, only 37% were blogging in 2011. That’s down from 50% in 2010. If you look only at Fortune 500 companies, the percentage drops to 23%.

Why are corporate blogs falling out of favor? USA Today says, mostly because Facebook and Twitter are so much easier to manage.

Well that makes sense. I heard a news report today that with the pending Facebook IPO there are now more than 900 million active Facebook users. Twitter says they have hit 500 million users. Clearly people are hanging out on Facebook and Twitter as their online water cooler, and that’s where a lot of companies want to be seen, with an impact.

And as Cynthia Boris points out in her blog, Marketing Pilgrim,

Keeping up a blog is a lot harder than people think. I’ve dealt with dozens of clients who jump in with grand plans of updating every day! They soon learn that updating even once a week is a chore. It’s amazing how quickly seven days pass when you need to come up with a fresh blog post.

Facebook and Twitter are easier to keep up with, but everyone is throwing their pebbles into the same pond so it’s harder to make a splash, let alone a ripple. People with interesting things to say will rule. Just ask George Takei who has 1.7 million Facebook “likes.” He reposts material from his fan-base and occasionally sprinkles in information about his latest project or a political message. The funny posts keep it interesting so he can deliver the stuff that matters. For most companies, keeping it interesting and staying on brand message is a real challenge.

What blogging does does for you is give you focus. It allows you to tell a story in a way that you can’t do in 140 characters or a status update. It allows you to elaborate on an idea in a way that builds a different kind of rapport with your audience. Why does corporate blogging matter?

Blogging lets you tell a story in detail, with nuances and context.
Blogging gives you an independent voice isolated from the social media noise. If takes you away from the cocktail party for an intimate conversation.
Blogging gives you greater searchability. You build more web credibility and Google credibility with a blog than you can with Facebook posts or tweets.

I like blogging because it forces my clients to focus their best brand thinking, and it’s that thinking that drives outreach through Facebook and Twitter. I consider the blog home base of the mother ship; the incubator where you can test and refine ideas before you take them out on the road.

So while the survey says that corporate blogging may be on the decline, those companies that are passionate about their brand and sharing that passion with their customers and others will continue to blog. It’s still the best forum to tell a complete story.

December 22, 2011

Cracking the Social Media Code–Where, Oh Where Do I Post?

I just set up a new Google+ destination page for a client this week. Now I am assisting with posting content to their blog, Facebook, Twitter, LinkedIn, and now Google+. Does this really help with brand visibility? Of course it does, assuming you can build the appropriate following in each channel. The trick is knowing what sorts of content work in the different social media channels. I find Facebook, for example, gives me a strong general following, but LinkedIn is more valuable for professional peer-to-peer contact. The jury is still out on Google+, and Twitter has some value, although I think most participants just like to hear themselves tweet.

If you are confused about where to post your social media content, it’s not rocket science. Consider the context for the message and who is watching where. This illustration although quite funny is also instructive. It’s important to be seen online, and you need to lay a trail of virtual breadcrumbs that lead back to branded content that helps you tell your story. However, if your followers are on a low-carb diet and want something other than breadcrumbs, be prepared to feed them something more appealing or lose them. That’s why the content you post to Facebook should be different from what you post to LinkedIn, or even Twitter.

I hope this gives you a chuckle. Enjoy.

November 21, 2011

“Turn in Your LinkedIn Contacts with Your Key Card on Your Way Out…” Who Owns Social Media Content?

There are probably still a few skeptics out there who question the value of social media. For those naysayers, I will point you to recent news reports that companies are demanding to retain social media contact from fired employees. Clearly some companies see real value in social media intellectual property.

I recently rand across a post by Cynthia Boris, who blogs under The Marketing Pilgrim, that poses the question, “Are Twitter followers a company asset?” Are social media contacts considered proprietary information, like a customer list or competitive information? Apparently that premise is being tested in the U.S. courts, as Boris explains:

But what about your Twitter account? In the case of an employee whose job it is to update the company Twitter, it’s an easy call. It’s not so easy when you’re talking about journalists or other Tweeters who blur the line between business and personal.

Such a case is currently being tested in court, but it’s not going so well for either side. The case in question is between PhoneDog and Noah Kravitz, who used to work for them as a reporter. The object of desire is a Twitter account with 17,000 followers formerly known as @PhoneDog_Noah.

According to the original news report, “a federal judge in San Francisco refused to dismiss news site PhoneDog’s complaint which argued that a Twitter password and the identity of followers was a trade secret.” Apparently Kravitz merely changed the name of his account from PhoneDog_Noah and kept tweeting. So who owns those contacts? Is it the same as a journalist’s sources, which go with him when he leaves a job?

There is a similar case for LinkedIn contacts being tested in the U.K. for the first time, a British court is reported to have ordered an employee to turn over his LinkedIn contacts to an employer. According to the report in the Telegraph, this case “highlights the tension between businesses encouraging employees to use social networking websites for work but then claiming that the contacts remain confidential information at the end of their employment.”

Now it’s one thing if you were hired to promote the company using social media as one of your forums. I can understand where it becomes part of your job description and the content, including the contacts, would revert to the company. But what if you are using your own contacts and your own network as an extension of your job? Does that mean you have to surrender your contact information for Aunt Millie or the High School Class of 1985 because you got fired?

Commenting on the UK case for Forbes, guest columnist David Coursey notes:

Meanwhile, more and more companies are issuing policies, and asking employees to sign contracts and agreements, that spell out who owns social media contacts. According to a recent study by DLA Piper, a third of employers have disciplined employees for something posted on a social media site. The research also found that 21% of employers had to give their employees a warning for posting something derogatory about a colleague or about the business itself.

One thing is clear, it’s time to start updating your contracts, whether you are working as a full-time employee or as an agency or consultant. Intellectual property is becoming increasingly valuable, and they could be an increasingly valuable asset that should follow you as you build your personal network to further your own career or advance your business. If you are going to use social media as part of your job, be sure you understand who owns the social media content and the contacts. If there is a doubt, duplicate – create a professional social media persona and a personal persona and keep them separate (although you might enlist the same followers to track both accounts). But whatever you do, be sure you know where you stand with your clients or employers. If you aren’t sure, ask! It’s better to come to an understanding now rather than getting into a tussle later.

November 13, 2011

Engage! Social Media Works for You When You “Keep it Real”

Social networking is more art than science. I try to instruct my clients in social networking techniques,and some have a natural affinity for it while others are, shall we say, socially awkward. Using Facebook, LinkedIn, and Twitter effectively requires a certain knack; a natural affinity for communicating online and keeping your followers engaged while staying on message. Here’s an example of one lady who has that affinity.

I had the privilege of meeting Kathleen Flinn at a book signing a few weeks. Kathleen is the author of two books, The Sharper Your Knife, the Less You Cry about her adventure studying at the Cordon Bleu, and her new book, The Kitchen Counter Cooking School, where she takes a step outside the “food bubble” to help nine homemakers become fearless cooks in their own kitchens. My wife had served as Kathleen’s Bay Area escort on her previous book tour and Kathleen not only remembered her but was genuinely excited to see us at her new book signing, which is what makes her so good at social networking. She is genuinely interested in people and it comes across online.

I have been following Kathleen online for some time and am very impressed with her social media approach. She is not pushy or obnoxious, but maintains a real dialogue with her followers that is sincere, interesting, and always on message. She is interested in all aspects of food, but not as a “foodie” or a food snob, but as good cooking and everyday foods can be transformed into great cuisine by any cook willing to wield a knife. She uses her blog effectively, finding topics that are interesting, personal, and always worth reading. And she uses her blog to feed her Facebook page and other social media to build her following. I, for one, started looking forward to seeing her new book long before it’s release because Kathleen was very good at sharing little insights here and there. She never overly flogs her books, but you always know where she is and what she’s up to, and following her online promotes a level of interest and intimacy I don’t get from many so-called social media experts.

So how do you promote your own social media following? Be genuine, but also avoid being the online boor. Here are some of the basics that everyone needs to remembers about being genuine through social media, with thanks to Aliza Sherman, who originally compiled a variation of this list for GigaOm:

1. Respect the medium. Remember that the Internet is an information tool that was not originally created as a collaboration tool, not a marketing medium. Successful use of the Web requires that you respect the spirit of the Web; it’s about collaboration not hard-sell advertising.

2. Listen. The biggest mistake people make when they use social media is they assume it is a broadcast medium. It’s not. It’s about collaboration and conversation, that that means listening first. Listen to the conversation threads. Determine what is appropriate and what is not. Get a better sense of what people are saying and what the tone of the conversation feels like before you barge in with new information or an expert opinion.

3. Add to the conversation. Don’t just appear, post your piece, and log off. Engage! Add value! Promote conversation within the community. Remember, in most circles, hyping your product or service doesn’t help anyone but you.

4. Be responsive. Remember conversation is continuous. Answer questions. Respond to comments. Be timely in your response. In other words, respect your visitors and followers by actually listening and talking to them.

5. Share with others. The Web is a global medium that allows everyone access to valuable information. Share your information, time, and inspiration to fuel conversation.

6. Credit where credit is due. Share other people’s ideas but give them credit. Repost and retweet to add to the conversation (not to promote spam) and be sure to give credit to the source.

7. Don’t be a spammer. Spam will inevitably isolate you from the conversation. It’s impolite, and it’s dumb. Don’t just hype your wares, but talk about what you know, politely and in the context of the conversation.

8. Be authentic. Authenticity is the key to social media success. If you represent a brand, you can still be authentic in your conversation without violating the integrity of the brand. Just be real. Admit your fears and flaws as well as your successes. Be interesting by being authentic.

9. Collaborate, don’t compete. The idea is to add to the conversation, not to outshout the other guy. Try to find ways to get together to expand the reach of the conversation so everyone benefits. There’s room for everybody.

10. Practice social responsibility. If you do good, you will get good in return. Embrace the authenticity that the web has to offer to not only expand the conversation, but to help others seeking insight and information. Don’t just sell your stuff. Find ways to give back to the greater community by doing good. You can help spread the word and make your corner of the Web a little better.

If you remember these simple guidelines as you engage online, your social media conversations will be more satisfying, and ultimately more profitable. Don’t shout. Engage.

June 29, 2011

Social Media Unchecked–Think Before You Post

I saw two blog posts this past week that reminded me that there are a lot of people out there who don’t “get” social media and its role in business.

One was a guest post on Lindsay Olson’s PR career blog about “Is Tweeting Hazardous to Your Job?” In this guest post, PR columnist Alison Kenney offered up some of the biggest social media faux pas that so-called PR professionals have been guilty of lately. Leaving the recent Facebook/Burson-Marsteller debacle aside, there are a number of other communications professionals who seem to have temporarily forgotten the rules of social media engagement. This from her blog post:

In March, Scott Bartosiewicz, an employee at New Media Strategies, the social media agency of record for Chrysler, tweeted a derogatory message about Detroit drivers from the official Chrysler Twitter account, costing his agency its relationship with Chrysler

This month, The Redner Group, a small PR firm led by Jim Redner, was fired by client 2K games after a frustrated Redner tweeted a threat to withhold review copies of the popular game Duke Nukem Forever if reviewers don’t offer more positive reviews.

Two years ago, while on his way to give a presentation about digital media to FedEx communications employees, Ketchum VP James Andrews tweeted a derogatory comment about travel to Memphis (where FedEx is headquartered). The tweet rankled FedEx employees who called Andrews out and extracted an apology from him. He kept his job.

In all of these cases, employees are exhibiting poor judgment and making poor choices in expressing themselves. Social media is exposing their mistakes to the public and to their employer.

What people tend to forget in the heat of the moment, or because the social media tools have become so familiar, is that Twitter, Facebook, LinkedIn, and their like are, well, social! It’s not a private conversation with 500 of your closest friends. Rather, when you post, you are putting out commentary for all the world to read, and react to. Which means if you mix social media and work, you have to be extra careful.

I recently read another blog post by Tom Biro, one of the executives at my former PR firm, Allison & Partners, offering advice about social media in the workplace.

A lot of companies control or block social media access, and they are certainly monitoring what you do online. (I will occasionally work at a client site and the IT manager frequently sends me reports with a breakdown of my online activity complaining that I am consuming too much bandwidth, so I know he is watching.) I have a client that specializes in providing controls and monitoring for social media access. Like it or not, your social media activities are being watched. And even if they aren’t watching right now, you need to make sure you leave a clean online trail that isn’t going to create problems when a client or prospective employer stumbles on it later.

While most of the insights Tom Biro offers seem to be common sense, they are worth repeating here as a reminder:

Even if you are blocking employees access to Facebook, Twitter, and YouTube, you know they are using their smartphones to get around that. While productivity may not be an issues, data leakage and protecting your company’s brand are a concern. Watch what your staff are doing online.
Set a good example. Some of the examples cited above are errors made by senior staffers. They should know better, and they should prove that to their fellow professionals with every post.
Remember that social media is about dialogue, not monologue. Don’t rant, but comment. Add to the conversation rather than trying to command the floor.
You want to use social media to increase your brand awareness. Make sure you are being seen and commenting in the right places to advance your brand visibility.
Establish social media guidelines. This is your first line of defense as an employer, and your first reference for common sense as an employee. If you spell out what is and is not appropriate about your behavior online you won’t leave room for doubt.
Be transparent about your identity. Be sure you are clear about who you are and your stake in the conversation, i.e. whether you are speaking on behalf of a client.
Think before you post. Think about the impact of what you have to say, and how it could affect coworkers, clients, associates,and others.
Don’t assume you are anonymous. If you are using a corporate Wi-Fi connection of a company network, someone is watching the traffic so never assume you can’ t be seen. Big Brother is everywhere.

Effective use of social media is about positive interaction and sharing stuff that is interesting and that contributes to the dialogue. If you use common sense and remember that social media is a very public forum, so don’t say or do anything you may regret later.

June 14, 2011

Drowning in Drivel: Stemming the Tide of Social Media

These days, social media has become a resource for sales and marketing; an essential tool in any marketing or media arsenal. Remember when, not so long ago, Facebook was banned from the workplace as a time waster? There are any number of companies that still block access to Facebook, LinkedIn, YouTube, Twitter, and other social media destinations because they don’t see these outlets as essential to employees’ jobs. They want them to stay productive, not chatting with friends online.

And despite the many benefits that have been demonstrated about social media, they have a point. Todays’ work environment is incredibly disruptive. I hate to say it, but I am old enough to remember working in an office free of email and where the only disruption was an occasional phone call. I also recall those days as being much more productive, where I could focus on writing an article or editing a column without interruption. The age of instant communications has created a disruptive, multi-tasking approach to work, which is not the most productive.

Not long ago I spotted an article on Mashable, “The 3 Pressing Questions Facing Social Media,” that talked about the disruptive nature of social media, and the fact it will only get worse.

The conversation about social media in our society is shifting significantly. We’re no longer asking questions like, “Will people use social media?” or “Are sites like Facebook and Twitter simply trends that will soon lose steam?” After billions of tweets and 600 million people on Facebook, it’s settled: People want to share online. And with Facebook moving toward a $100 billion valuation, there is money to be made.

The emerging conversation is not if we will be connected but is instead, “How can we effectively and productively connect?” Now that we can get constant updates on just about every aspect of our friends’ lives, how do we receive that which is relevant?

I think the three questions are worth considering closely as we continue to forge ahead into the disruptive world of social media.

1. Are We Being Driven to Distraction? Remaining continually connected means being continually distracted. I am sure you have experienced it – email interruptus or the Facebook vortex. You are in the middle of trying to construct a thought for a report, or a calculation for a spreadsheet and you hear that little “ding” or see that popup that someone has posted to your wall. Being the tribal creatures that we are, we drop everything to see who is knocking at our virtual door.

People have forgotten how to turn off the data stream, just as they have forgotten to turn off their cell phones or unplug from the larger world. Many give the excuse that their bosses or their clients expect them to be “on call,” but the truth of the matter is we are all insecure in this new world of social media, and we are worried about missing an important factoid or an important connection that could lead to cyber rejection.

The price of distraction is a decline in productivity. According to a survey cited in the Mashable article, social media is costing companies an average of $10,375 per year because we can’t learn to disconnect fast enough.

The drive to stay connected is tapering off. For the first time, Facebook has seen a drop in traffic in the U.S. and Canada as people are starting to realize that social media does not require real-time consumption. But we are still struggling to find the right balance to get us back to productivity.

2. How are We To Filter the Stream? What to follow has become an important question. You want to sample the social media stream in a way that suits our informational needs. I cited a recent presentation by MoveOn board president Eli Pariser on how our web experience is already being filtered. We need to be wary of imposing our own filters so we get what we need from social media channels.

Of course, we need to understand how the data is being filtered, and given the option to impose our own controls, or open the tap to unfiltered content so we can determine what we want to sample. It’s all about promoting transparency; a principle that is at the root of the creation of the Internet.

3. How Do We Manage the Social Media Flood? The sheer volume of social media content has become overwhelming. Can you effectively follow more than 500 people on Twitter or LinkedIn? How many Facebook friends can you have and still maintain any kind of meaningful connection? When do we start hitting diminishing returns from social media because the sheer volume has become too great to manage? Like dipping your toe in the data stream, where you choose to sample the stream is going to be self-selecting, but the stream is rapidly becoming a flood, which will make it harder to choose the right location.

And it’s just going to get worse. More traffic for the Web is on the horizon, and with it more social media traffic. So users will have to become more discriminating in their use of social media:

Providing people more ways to share online is no longer the challenge. That was the old paradigm. A new paradigm of relevancy is emerging, which goes beyond the question of whether “to follow or not follow” or “to friend or not friend.” Companies need to see that their job is not to provide us data, or even keep us updated — it is to serve our needs.

Which offers some new opportunities for marketers. As we continue to feed our corners of the social media stream with content that is relevant for our microcosm of the social media macroverse, we will be able to start appealing to a niche following of more loyal and more relevant connections. It’s going to become more about quality rather than quantity, and the conversations will become more focused as we become more discriminating. As a result, social media will give us the capacity to connect more quickly and efficiently to people who matter to us, and the timewasting will become less of a factor in the social media equitation.

June 1, 2011

Twitter Sings When Asked by UK Lawyers to Reveal Confidential User Data

Online privacy lost another battle this week in the California courts. If you were tracking the news on Sunday and Monday, you may have seen the story of the lawsuit launched by the South Tyneside Council in the United Kingdom to reveal the identity of Mr. Monkey, a notorious blogger who made a number of scurrilous and libelous statements about the Council. Hiding behind the anonymity of his Mr. Monkey Twitter handle, it seems the angry blogger may actually be one of the members of the Council, but the jury is still out, at least in the United Kingdom.

Not so in California, however. In their quest to uncover the identity of Mr. Monkey, the Council went to the trouble and expense of taking their suit all the way to San Francisco, where Twitter has its offices. As reported by the New Statesman, Twitter’s terms of service specify that any legal claims need to be pursued in the local jurisdiction:

All claims, legal proceedings or litigation arising in connection with the Services will be brought solely in San Francisco County, California, and you consent to the jurisdiction of and venue in such courts and waive any objection as to inconvenient forum.

I guess Mr. Monkey didn’t expect the South Tyneside Council to spend the money on a plane ticket to San Francisco to make their case directly to the local court. Having made their case, Twitter complied with the court ruling and released the names, location, email addresses, and other data of the people accused in the affair. As noted by Gizmodo:

Twitter has, up to now, been resistant to releasing the account details of its users, but has also stated that it would comply with legal requests. Twitter complied with their [South Tyneside Council’s] complaint and chose to release the names, location data, and and email addresses of the people accused. Their decision begs not a few questions, particularly: Can we expect that much more litigious lawsuits based on Twitter libel? and; How much should we be watching our tweets from now on?

This sets a new precedent. This is the first time that a foreign plaintiff has come to the United States seeking evidence for local libel laws, and getting it. Privacy laws differ from country to country, and this case opens the door for anyone with the will and the readies to travel to the U.S. to get what most may think is private information for use in a lawsuit.

And this also serves as a practical reminder that online privacy is an oxymoron. Remember that Twitter, Facebook, LinkedIn, YouTube, and other social media destinations are not protected by freedom of speech, but companies looking to gain a profit. If they are faced with a legal action, they will do what’s best for the company and its investors, which may not be the best outcome for online privacy. But that’s not necessarily a bad thing. Since its inception, the Internet has been self-policing, and as the Web becomes more sophisticated, good online citizens should be allowed to express an honest opinion without repercussions, and mischief makers like Mr. Monkey need to be “outed” to make the web a safer place for the rest of us.

May 4, 2011

Building Social Media Buzz–Blogging and Beyond

Social Media Strategies – Blog to Broadcast

View more presentations from TWoolf.

This is the presentation I delivered today before the Northern California Business Marketing Association Branding Roundtable. We had a good, interactive discussion with those present, discussing their needs, the pros and cons of different channels, and which channels work best for B2B and B2C.

One of the things I am advising clients to do these days is start with a corporate blog. A blog provides brand focus. It is a single forum where you have to think about what promotes your brand value before you commit your thoughts to the blogosphere. Once you have clarified your brand position, it’s easier to feed the social media machine, disseminating your blog thoughts through LinkedIn, Facebook, and Twitter – the Holy Trinity of Social Media.

Of course, there is other content you can use to feed the beast. It was interesting that even talking to experienced marketing professionals this morning, some were still reluctant to dip their toe in the social media pool. They were worried about making a mistake or not having enough content. You have to get started before you can refine the process.

Part of this morning’s discussion, for example, was around corporate process and paranoia around blogging. One of those present said it took months to get the company to approve a blog post because the committee could not agree. Another marketing executive talked about how his managers complained that the tone of the blog was too “friendly” and not sufficiently formal, like a white paper or data sheet.

This panic over initial missteps is what prevents companies from entering into the social media conversation, and ultimately cause them to fail. One of my recommendations is “fail fast, fail cheaply, and correct course.” If something doesn’t work, move on. We actually had an interesting discussion about the longevity of social media content. I noted that, to an extent, blog content is disposable because it has a short effective shelf life. However, it was pointed out that blog content remains discoverable for as long as it’s posted, although you can correct or change the content. However, social media feeds like Twitter and Facebook have an effective life of hours or days. This means you have forums you can use for social media experimentation to see what works for your strategy.

So this presentation represents just some of the concepts I am sharing with my clients. I would be curious to hear your reactions and recommendations. The floor is open for comments.

May 2, 2011

Ad Numbers Are Not in Twitter’s Favor

As a follow-on to last week’s blog post about the future of Twitter, I spotted an interesting item in the Adotas newsletter today regarding Twitter’s anticipated ad revenue.

According to a new report from BIA/Kelsey, there is both good news and bad news. The good news is that revenues for social media advertising is expected to from from $2.1 billion in 2010 to $8.3 billion by 2015. The bad news for Twitter is that the majority of the cash is allocated for display advertising – $7.7 billion by 2015. Non-display revenue, like promoted Tweets and promoted accounts 0 will grow to $600 million in 2015. According to the report, non-display ads, like promoted Tweets, didn’t generate any revenue in 2011, although other sources peg Twitter’s 2010 earnings at $45 million.

According to Adotas, eMarketer predicted Twitter earning sof $150 million in 2011 and $250 million on 2012, which is very much in line with the BIA/Kelsey report. But these figures fall far short of Twitter’s promise. To quote from Adotas:

I can’t be the only one thinking, “That’s it?” But last week I commented that Twitter’s beta text ads would bring in incremental revenue at best — there is no Twitter ad product that promises exponential revenue growth, something that’s ever-more haunting since North American user growth stalled a while ago.

As Twitter’s valuation keeps skyrocketing, it’s getting tougher to turn a blind eye to these grim revenue estimates.

It will be interesting to watch this birdie as the business of social media evolves.

April 26, 2011

Is Twitter Just Chirping in the Wind?

I have a client in the social media market who refers to the Holy Trinity of Facebook, LinkedIn, and Twitter. Certainly these are the three most popular social media destinations where users flock to hear the latest news and connect with friends, family, and associates. But as I have noted previously in this blog, these are private companies, they are not part of the Web or the Internet, although they certainly use those resources. And while the open structure of the Internet means that the Web is likely to endure, these companies are capitalists after all and will only continue to grow as they become profitable.

Which brings us to Twitter.

My wife recently directed me to an article in Fortune entitled “Trouble @Twitter,” and the story read to me like the biography of a typical Silicon Valley startup,with all it’s ups and downs. One of the great things about technological innovation is the ride is never boring, and today’s boom can be tomorrow’s bust. You can have the best technology on the planet, but without a solid understanding of your roadmap and the value your customers get from your service, there’s no guarantee of staying power. (How many remember to dot.bomb bubble a decade ago when the slogan was, “If you build it they will come”?)

Okay, the concept of microblogging is cool, and Twitter has developed a huge following – 200 million registered users compared to 600 million for Facebook. However, how many of those users are active? But what is Twitter doing to monetize all that traffic? They’ve tried paid tweets, but is that really paying off? This from the Fortune article:

Just two years ago Twitter was the hottest thing on the web. But in the past year U.S. traffic at Twitter.com, the site users visit to read and broadcast 140-character messages, has leveled off. Nearly half the people who have Twitter accounts are no longer active on the network, according to an ExactTarget report from January 2011. It has been months — an eternity in Silicon Valley — since the company rolled out a new product that excited consumers. Facebook’s Mark Zuckerberg used to watch developments at Twitter obsessively; now he pays much less attention to the rival service. Meanwhile companies are hungry to advertise, but Twitter hasn’t been able to provide marketers with enough opportunities. Last year the company pulled in a mere $45 million in ad revenue, according to research firm eMarketer. Facebook brought in $1.86 billion.

It’s interesting that Twitter was born out of chaos. As the article explains, co-founders Evan Williams and Jack Dorsey found their start-up, Odeo, made obsolete by iTunes and were trying to figure out what to do with their venture money when Dorsey Came up with Twttr to let other people know what you were up to. I think any business expert will agree that “throwing it against the wall to see what sticks” is not a sound business strategy, yet that was the birth of Twitter. To this day, Twitter seems to lack a clear business objective, partially because of changes in leadership, but mostly because the vision seems to have been lacking from the start. Mark Zuckerberg has been with Facebook since Day 1, guiding its operations and providing a consistent vision for growth that seems to be paying off. Twitter doesn’t have those same strong roots, and it shows.

So even the most popular technologies can fail without proper nurturing. Remember the Betamax? Imagine what would happen if Twitter pulled the plug tomorrow because they couldn’t #gettheiracttogether. The short answer is, not much. The world would keep turning and the loss of Twitter would be noticed by a fraction of those 200 million subscribers, but something else would rise in its place. Another platform would emerge to make up the third part of the Holy Trinity of social media.

I am not sounding the death knell for Twitter. They have a huge market opportunity, but they still haven’t figured out how to make it pay. Once they find the right formula, they could be innovators for years to come, or they could fade away. But the hole they would leave will be filled by another entrepreneur with a better business plan, or by an existing company that can acquire Twitter and take it to the next level.

Twitter has demonstrated the power of connection. And whether they succeed or fail, they have proven that we want to connect, even at 140 characters. No matter what for it takes, the power of connection will continue to open up new possibilities for marketers.