I mentioned last week that Twitter wasn’t doing too well.
It’s recently posted a large loss, but at the same time has announced a new feature called Brand Hub which promises to give brands metrics including their share of social conversations and how they stack up against their competitors.
It makes sense. Its financial performance doesn’t mean we’re about to see the last of Twitter, not by any stretch of the imagination. But they need to do something – CEO Jack Dorsey has recently admitted that the firm was set to ‘simplify’ while 8 per cent of its workforce was sadly made redundant last month.
Worryingly too Twitter only saw 4 million new users in the last quarter. Things are stalling. So how can Brand Hub not only help Twitter, but encourage new users – especially brands with money – to sign up?
Brand Hub promises to give advertisers more metrics, data, and information about how people interact with them and puts it all in one easily accessible area.
“Each tweet has the potential to give advertisers new insights to better understand what customers, prospects, and influencers are saying, thinking, and feeling about their brand,” says Twitter’s Andrew Bragdon. But is it enough?
Your Turn: Are you going to use Twitter’s Brand Hub? How reliant are you on social media marketing and how it helps promote your business online? Let me know in the comments section below.
Today we’re excited to announce Twitter Brand Hub, the newest addition to our suite of analytics tools. https://t.co/Oj5WSj2JFb
— Twitter Advertising (@TwitterAds) October 26, 2015
Part of Brand Hub is TrueVoice which will track a real-time share of conversations, look at tweets surrounding your brand and those of your competitors and let you identify a percentage of impressions focusing on your business.
It’s more of a response metric. Say you run a YouTube campaign and people start talking about it on Twitter. TrueVoice can give you an idea of who’s talking about that ad and when – whether it’s during the time the ad is running or if interest is piqued at certain other times, to help gauge the effectiveness of the ad and if or not it has influenced people on social media.
New audience insights are also available giving marketers access to information such as gender, income levels, occupation, location, and more. It will give you information about the particular brands they’re discussing on Twitter; and also indicate top influencers, giving you the opportunity to pinpoint them and better communicate with them.
There’s more to Brand Hub than just these additions but the real selling point is to highlight and provide contexts of brand conversations; the amount of tweets that mention brands and products, and whether they’re being shed in a positive or negative light.
Used in the right way it’ll be an incredibly useful tool for brands to gauge instant reactions of their own products against competitors, and will also give a good overall impression on how you’re interacting with people on the social network.
It’s an enormous shame that Twitter’s facing the financial and relevancy problems it is. It’s an incredibly useful tool; when the appalling attacks in Paris happened on Friday Twitter was essential for news agencies covering the story, and for people in the area to find safehouses during the uncertainty.
On the other side of the coin, though, a few organisations – amazingly – used the crisis to try and push their own agenda, sell products, and encourage visits to their sites. The human side of the social network showed its face though, highlighting the idiots and helping people out in any way they could.
The power of Twitter can’t be denied. And the new metrics offered by Brand Hub can go a long way to showing marketers that it is a social network worth investing in to help their businesses grow.
Your Turn: Are you going to practice conversation optimisation or is it something you already deal with? How useful can it potentially be? Let me know below!
I also think that Twitter Brand Hub will make crisis management a lot easier for companies, and give brands a better idea of how they handled a bad situation and how it’s affected their reputation.
I wrote a good while ago about Interflora and its excellent Valentine’s Day handling on social media when a number of customers didn’t receive the standard of product they thought they had ordered online.
It’s a great lesson in how to deal with a widespread problem on social media – especially with the instant nature of Twitter – and huge credit goes to the Interflora social media team for how they handled the situation.
Similarly the classic example of Amy’s Baking Company, as featured on Ramsay’s Kitchen Nightmares USA, is a perfect example of how not to do it (swearing at customers, calling them liars, having online fights). It would be great to go back in time and see the conversation metrics around both of these brands during the confrontations and the aftermath.
Conversation metrics, in theory and practice, should be incredibly useful for brands and offer another way for marketers to gauge their return on investment.
So will conversation optimisation become a real thing now that Twitter’s introduced a metric for it?
Possibly; you can argue that there are already services out there in the guise of reputation management as we’ve highlighted above, but this could help beef out the process behind it with new data.
And can you really teach people how to talk to others and to provide basic courtesy? You can, of course, but it’s not something you can really optimise. Like the Interflora example, how were the team to know that everything would explode that day and how to respond?
It highlights how critical it is to have a solid social media strategy at your company to cover every kind of situation as well as using it to reach out to new prospects. I hope Brand Hub is a positive move for Twitter; if they get it right then it could secure the safety of the company for years to come.
If you’d like to know more about social media marketing and how it can help grow your profile online contact a consultant today!