No single company has enough followers on Twitter Inc. (NASDAQ: TWTR) to crack the list of the top 50 most followed. Google Inc. (NASDAQ: GOOGL) leads the list at number 103, with 10.3 million followers. That puts it slightly below the Dalai Lama. People on Twitter either do not care what big companies have to say or do not trust them.
Twitter is supposed to be one of the major gateways via social media to tens of millions of potential customers. For the time being, the only gateway for the great majority of companies is via paid, sponsored messages. Some of what companies pay for the messages is based on performance, which should make them attractive. Twitter’s very modest revenue of $479 million in the fourth quarter of last year would say that most corporations think the approach is ineffective. And Twitter’s revenue next year is only expected to be $2.5 billion, a drop in the sea of global advertising spending.
The harsh reality companies have to accept is that what celebrities have to say eclipses any corporate communications. Why does Katy Perry lead the list of those followed on Twitter at 66.2 million, or child star and renegade Justin Bieber at 61.1 million? Neither tweets much more than garbage, at least as fair as corporations with large marketing budgets can tell.
Why aren’t people on Twitter fascinated with what General Motors Co. (NYSE: GM) or McDonald’s Corp. (NASDAQ: MCD) has to say when they sell products in such huge numbers that consumer demand for those products is so obvious? Maybe their traditional marketing messages reach so many people that social media users don’t need any additional information about fast-food menus or cars. In reality, these companies are desperate to be relevant enough to have a presence on the next big wave of media, where people spend most of their time instead of watching TV or reading magazines.
Almost no one cares whether large companies have a significant following on Twitter, except the companies themselves. Based on their efforts and lack of success so far, they might as well give up.
ALSO READ: 4 Top Merrill Lynch Media Stock Picks to Buy Now
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
