Global Business Plan

Twitter Organization’s Innovative Competitive Advantage

INTRODUCTION

Hisrich and Kearney (2014) have made a list of six competitive advantages that every organization needs to adhere to, in order to remain relevant and stay ahead, if it wants to be innovative and lead in the competition. In this case we are looking into the Twitter Organization’s Competitive Advantage and the need for the organization to adhere to the following list of advantages if it wants to stay ahead (Hisrich, & Kearney, 2013). 

1. The Twitter Company should adapt to external environmental challenges

2. It must be focused and driven to its customers.

3. Its strategies should be flexible and also the processes in order to meet the wants of its customers.

4. It must be able to respond fast to the changes in the environment.

5. The Twitter company must proactively meet and fulfill what its customers need according to the available competition

6. Finally, it should be able to actively engage in the Research and Development to always give priority to the development of new products, services and technologies.

An organization using Twitter for its business and marketing has its own advantages. There are many conversations that are happening in the world around. There are also many different trends, patterns, insights and many more of which could be used to inform or add value to marketing, sales or improve the experiences of customers. In order for Twitter to become a serious advantage for businesses which use it, it recently announced a partnership with IBM. This was to enable Twitter offer solutions to more than 500 million tweets that are posted daily on average thereby giving its users business ideas which are meaningful and well understood.

This partnership is a good implication according to the marketers who use twitter for marketing. They view it to be significant, accurate, data-backed customer insights, improved messaging in relation to the way customers communicate, easily digestible and also easy to consumer trends. The organizational leadership philosophy on innovation, the vice president of twitter data strategy Chris Moody acknowledges that organizations using twitter in marketing have had success with the data from the manufacturers. The twitter data has made it more effective for them to manage inventory to the customers doing rapid product development.

Through the partnership with IBM, it will enable faster innovation across a wider range of use cases at scale. In particular, the marketing use cases have benefits when using data from twitter for businesses. Below are the highlights of competitive advantages which make the partnership between IBM and Twitter more advantageous

1. Social listening without intruding

According to the research done by Customer experience, it notes that organizations or companies which offer a listening hear to the customers by the use of tools like engaging with the customers, has seen an average increase of 14.6 percent per year in the number of the positively social media on social channels as compared to companies who don’t have such analytics. These organizations also transact more across the globe and increase the upsell revenue, the yearly revenue and also the return on marketing investment. When Twitters data is leveraged well, the companies and organizations can listen more effectively on what their customers and those who intend to buy are telling the world without intruding on the conversations as they happen.

2. Aligning content and messaging conversations.

The content marketing research shows that those marketers who align their content to the particular stages of the buyer’s journey get up to 73% higher rates of conversation averagely as compared to those who don’t. When the Twitter data is clearly distilled by the use of IBM’s analytical infrastructure, it helps the potential marketers to know what their customers are talking about, what they are exactly interested in and the challenges they encounter each step of the buyer's journey. For marketers, the improved relevancy can effectively translate to better results as compared to the buyers who view this to be of no relevance, unhelpful and off the mark marketing content which does not answer the right questions.

3. More Accurate Signals of Buying Intent.

The mission for marketing automation is to measure what the customers are doing across the marketing properties that are trackable like the Websites, landing pages and the resources. This is the part for Research and Development that the Twitter company is taking is involved in for its long term competitive advantage. But because of the robust data provided by Twitter, the marketers can however get better insight across to the buyer’s activities which are outside of the owned marketing channels. According to Ginni Rometty, the President and CEO and chairman of Twitter, he states that Twitter gives a strong new lens through which one can look at the World as a platform for millions of customers and business professionals and a synthesize of trends. The CEO considers Twitter to be a resource to analyze trends thus enabling marketers to find and utilize behaviors of the consumers.

A research by Marketing Automation shows that 68% of the Best-in class firms have already acknowledged their lead in scoring to prioritize and flag sales-ready prospects, the enhanced Twitter data could add a new level of accuracy in knowing buying signals. The overall winner in this partnership is the consumer. Twitter has been a place where people connect, communicate, interact and engage freely in an environment that is relatively unrestricted and the partnership with IBM is only an extra added value and utility. On top of that, through the use of Twitter’s data, marketers are able to understand their customers because of their natural honest, online activities as they use better buyer knowledge to provide better marketing skills and better services (Hoffmann, Lutz, & Meckel, 2014).

References

Hisrich, R. D., & Kearney, C. (2013). Managing innovation and entrepreneurship. Sage Publications.

Hisrich, D. R., & Ramadani, V. (2017). Effective entrepreneurial management. Strategy, Planning, Risk.

Hoffmann, C., Lutz, C., & Meckel, M. (2014). Social media readiness in public administration-developing a research framework.