Does 10 million users x 140 characters add up to $1 billion? That's what Twitter is valued at … and its critics are confused.
Business Weekpoints out that critics of innovative ways of communicating are not a new phenomenon. Socrates complained about the invention of writing meant people didn't need to use their memory and and Sam Morse (inventor of morse code and the telegraph) didn't see the point in the telephone!
So is Twitter the next breakthrough in the evolution of communication?
Whilst the majority of Twitter is occupied by personal broadcasts, a quick search through popular profiles suggests that there are businesses out there that are effectively utilising the site for commercial purposes.
Twitter is a perfect platform for building a business personality and showing your followers what you’re working on, what you’re interested in and what you’re reading. To that extent it is primarily a medium of outbound "transmission".
Where I think Twitter could become very valuable is (assuming you can make time to sift through the somewhat random content) what you can learn. It's a great way of hearing news as it literally happens and gaining feedback (good and bad) from your users / customers / clients. Whereas the internet is passive … Twitter literally comes to get you!
Brand Development is on Twitter – come and see what we’re up to and let us know what you think of our Twitter efforts at BrandDevTweets.