One of the best things about social media is that it creates a platform that allows brands and companies to connect with consumers. This is a win-win for both parties, as a brand can find out important information directly from consumers, regarding what they like and what they don’t like. It’s also good for consumers, as they can find vital product information and participate in special promotions.
According to Twitter Vice-President Joel Lunenfield, about 88 percent of the website’s users follow one brand, and over half of the social platform’s users follow at least six brands, if not more.
Seth Klarman: Investors Can No Longer Rely On Mean Reversion
"For most of the last century," Seth Klarman noted in his second-quarter letter to Baupost's investors, "a reasonable approach to assessing a company's future prospects was to expect mean reversion." He went on to explain that fluctuations in business performance were largely cyclical, and investors could profit from this buying low and selling high. Also Read More
Lunendfield recently sat down with Anthony Ha, from Tech Crunch, to talk about the study and examples of successful brand campaigns on Twitter.
German auto maker Audi once got a special tweet with the hashtag #WantAnR8 from their fan Joanne McCoy. They then paid her a visit, and let her drive the R8 vehicle for a full day and video taped the event. Audi then created a campaign around the event, and published the video on Twitter using the same hashtag.
Another great example of this involves two popular, but distinctly different, brands engaging in some playful banter. Old Spice tweeted this jab at Taco Bell, “Why is it that ‘fire sauce’ isn’t made from real fire? Seems like false advertising.” The fast food company fired back with the following zinger, “Is your deodorant made with really old spices?”. Old Spice had the final word with this clever response, “Depends. Do you consider volcanos, tanks, and freedom to be spices?”
The same study also reports why Twitter users follow brands. The most common reason for following certain brands is to get exclusive promotions and offers. Despite the positive report for brands that want to utilize social media platforms to the fullest, Lunenfield reminds them that Twitter advertisements shouldn’t really be any different than any other advertising campaign. He suggests that brands utilize their conversational tweets to enhance their brand.