Twitter to focus more on companies
Earlier this week, Twitter announced that it is to revamp some features of its site in order to give more focus to companies. The company has become increasingly reliant upon advertising revenue, with the main money source currently coming from 'promoted tweets' and trends sold for cash.
Key is to create balance:
This throws up a problem that any company operating in the social media space can potentially come across; the issue of creating a balance between not biting the hand that feeds you on two fronts! On the one hand, you need users to get advertisers interested, and on the other, the more you can offer advertisers in terms of presence, the more appealing your space will become. But potentially at the cost of your users..the loyal folk that got you to this charmed position in the first instance!
Treading on the toes of Google+ and Facebook
Twitter intend to offer "brand pages". Users will still have the option to decide whether they want to visit a brand page or not. So it should not be too intrusive. Furthermore, an enhancement of the "hashtag" system will result in users being able to view content based on their interests and location.
The redesign of the company pages will essentially allow for more customisation from the brands. It will give brands more control over the look and feel of their page, and give them the ability to show embedded multimedia.
Brands signed up already:
Coca-Cola, McDonalds and Disney are just some of the companies that are already signed up. However, it will not be available to companies in the UK until some time in 2012. The objective in social media is to engage in innovative ways with in the desired audience. All you tweeters out there, be sure to let us know if these companies succeed in achieving that through these new channels!