Posts Tagged customers

There are many people utilizing Twitter for business and marketing purposes. This includes marketing experts, writers, authors, public relations departments, and celebrities. More importantly, Twitter is full of peers and potential customers.

Currently, there are many misconceptions to who uses social media. When it comes to Twitter, it is commonly believed that Twitter users are made up mostly of “Generation Y” users which  is made up of adults between the ages  of 18 to 27.

However, according to the Pew Internet & American Life Project, Twitter users are mostly made up of “Generation X” which are adults ages 28 to 45. The median age of a Twitter user today is 31 years old. Now what does this mean to your business, well for starters, you know who you are reaching within Twitter, and with just a little research, you can figure out their needs, spending patterns, and how to reach them at their point of decision.

Twitter is built around the concept of blogging, but comes with some restrictions that you would not have on your own personal blog. The biggest of these restrictions is that you are limited to 140 character in any of your posts. Twitter 140 character posts are often referred to as tweets in the Twitter world. This restricted space forces you to convey a concrete thought very precisely.

What is amazing about these tweets is that they are viewed around the world. You can create a Twitter post, tweet, in Pittsburgh, and your post can be read in India. It goes without saying that Twitter is one way to reach a global market quickly. Just imagine the possibilities of reaching out to customers around the world!

Your tweets can be sent to individuals or entire groups. As you can see, tweeting can readily speed up mass communication to potential and current customers. Imagine if you were running a sale or special promotion. In 140 characters or less, you could quickly get your message out and begin getting sales, but you will need to be careful with the frequency of running your sales posts through Twitter. Twitter is not the place for constant selling and spamming. No one will like what you have to say, and you will be ignored and when you really think about it, you don’t like nonstop sales messages either, especially from people that you have just met.

Imagine a place where millions of potential customers gather daily to talk, share new ideas and share their opinions on business products and services. In the process, they are helping to shape and mold new ways in which businesses and customers communicate with one another. This new place on the web is known as Twitter. This micro-blogging platform is changing the marketing and communication game as we knew it. It is helping to cultivate a new level of intimacy between customers and businesses and I dare say that the customers have the upper hand in this platform, but that it is not necessarily a bad thing, when you know how to use this to your advantage.

Twitter has literally exploded onto the seen in the last few years, and it is growing at the rate of 1,382% year after year and it currently has well over six million members. It is not uncommon to see major businesses, and news stories promoting their Twitter account for additional information. We are hearing more about Twitter now than blogs. It’s growth is nothing short of phenomenal and it presents marvelous opportunities for growing our businesses.

Brand loyalty and management has never been so important and Twitter allows us to do this with great results!

In order for your business to do well, there are a few things that you must consider first. Most small businesses fail in the first 5 years. You must refuse to be one of them.  Here are a few things you must do to avoid becoming just another statistic:

1. You must understand how and why your business meets the needs of your customers. If you are not meeting a need, you do not have a business.

2. Calculate your break even point. Know your bottom line and what it takes every month to keep you in business.

3. Research your market before the big launch. You have to know who your clients are, how you are going to reach them and more importantly, how you are going to retain them and make them a lifelong customer. This is often referred to in the marketing world as customer demographics. It is also important to know the size of your market which includes the number of potential customers that could use your products or services.

4. Estimate your start up costs. Calculate everything that you will need to open the doors. These expenses can include equipment, subcontractors, employees, insurance, filing fees, licenses, software, machinery, tools, rent, furniture, advertising, business cards, permits, equipment,  and leases to name a few.

5. Pick a great Business name.

6. Know where your business will be located. Some options include leasing your own  space, purchasing a business condo, working in a home office, or renting at a local business center that hosts many small businesses while offering common areas such as restrooms, break room, and meeting rooms.

7. Make sure that you and your staff understand the unique selling points of each of your products or services.

8. Be willing to be your company’s biggest fan and constant salesman or saleswoman.

Another example of an innovation in an industry by a company that refused to conduct business as usual is the Seattle based company, Starbucks. Starbucks was founded in 1971 by three partners with a focus on selling high-quality coffee beans and equipment. This focus eventually shifted to supplying customers with coffee-based drinks and small food items. This slight shift in business has allowed Starbucks to turn into the world’s coffee house. They went from one store that started in the early 70s to 16,635 stores that are spread out over 49 countries, but this growth did not come without opposition within the company.  After a trip to Italy, Howard Schwartz, who served as the Director of Retail Operations and Marketing,  suggested selling drinks in a coffee bar environment. To many, coffee was to be served at home and there just wasn’t money in being a coffee bar. It took selling the company to Schwartz in 1987, before Starbucks focused on launching their coffee bar phenomenon.

Starbucks has reinvented the coffee business. We all know that they didn’t create it. But take a look at other famous businesses, and take note of how they have set themselves as the “go to” source in their industry. Ebay certainly did not create auctions. Paypal didn’t start online commerce. ESPN didn’t invent sports, Microsoft didn’t invent computers. Nike didn’t invent shoes. Xerox didn’t invent copiers. Google didn’t invent the first search engine, and the list goes on and on.

As they say, hindsight is 20/20. But take note, when innovation shows up, it may not be wrapped as you would like it to be, and it may not look like what you thought that it would look like but whatever you do, do not despise it. It may be the greatest thing since Starbucks.