The Changing State of Twitter
Given the recent news of leadership changes at Twitter, a key focus of the discussion was on how this change will impact the company and shape the future of Twitter. The Wall Street pressure has shifted company cadence into a quarterly cycle, driving innovation across both the product and data sides of the business and highlighting opportunity areas for growth and monetization. The changes in both product and data cross industries, growing partnerships, utilizing data insights across all areas of business and expanding the reach of Twitter conversations. All of which are aimed at growing the power of social data and monetizing opportunities to leverage that power.
Reaching the Logged-Out Audience
While Twitter has built it’s success upon the engaged and responsive logged in audience, sharing and creating content, the company has now begun to focus on the massive audience that is not logged in. Realizing the initial barriers to entry, primarily around feed creation and curation, the platform is shifting to become more entry user friendly. “Instant Timeline” or feed creation based off of a new user’s contacts is a new product built to help tackle this issue. Another is the “While You Were Away” feature, built as a recap function to help you view the best content that was shared since your last login. In addition, the highly publicized Google deal is focused on growing the reach of Twitter content beyond the logged in audience and placing it into the hands of all online users. The partnership promotes the wealth of information shared on Twitter that online audiences are searching for, tying existing conversations and information to curious audiences outside the platform.
Harnessing the Data
The data side of the Twitter business is also rapidly growing. Capitalizing on their open source platform which allows for deep row by row analysis, rather than other broad aggregated sources, the Twitter team is working to answer the growing questions being posed. In their many discussions with CMOs across industries, the common theme is a 180-degree shift into data and insights. These CMOs see their teams across the business utilizing Twitter in different ways and need help in understanding the current status quo with their business, understanding the issues they are currently facing and receiving insights on how to resolve those. This shift partnered with the changing marketing environment, from the traditional funnel to a looped environment, with data inputs stemming across all points, the insights we can draw from social data are practically limitless.
— Dfuzr Industries (@dfuzrindustries) June 15, 2015
It’s a Group Effort
Given the questions Twitter faces from customers across business areas there is an overflow of ways to innovate and draw insights from the wealth of data being produced by Twitter audiences across the globe. While Twitter is focused on answering these questions they are a single entity and are relying on industry partners to help them answer, innovate and create value with their data. Many of the successes they have found in utilizing their data has come from partnering with third party companies from start ups to massive consulting firms like IBM. Recognizing the need to democratize data, Twitter is focusing on improving ways to get developers the data they require, hinting at an upcoming announcement surrounding an expansion of Twitter data availability, specifically addressed at providing developers with more and broader data.
All in All
Twitter remains a key social channel and data partner in the industry. Their ability to innovate product to enhance user experience and grow data driven insights will help move the industry forward. Enabling increased value of social for users and customers benefits non-profits, start ups, academics, social analysts, data scientists, CMOs and day to day marketers. How all of these constituents partner and work together to utilize these opportunities will greatly determine the future environments and how this industry can shape the world for the better.