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Twitter is a micro-blogging service that allows users to update with text messages of up to 140 characters in length. Users can also read updates from others by going to users' pages or by "following" them. "Following" allows updates from others to arrive automatically in a feed on a user's Twitter homepage. Twitter functionality is similar to that of Facebook's "status" feature, and both can by synced via Facebook status settings.
Twitter was founded by Jack Dorsey, Biz Stone, and Evan Williams and launched in early 2006. The site later won a South by Southwest Award in the blog category in March 2007. By mid-2008, Twitter featured over 3M accounts.
In addition to its functionality as a microblogging service, Twitter also features several social networking elements, including public lists of members who are following a user's updates and those who each user is following (although both of these features may be set to private). Twitter also offers a public profile, a scraping mechanism to find and invite people a user knows through email accounts, and a minimally customizable page.
Twitter allows everyone with an open forum to talk about whatever is currently important/on their mind. For marketers and companies, this is an incredible tool to see what the consumer is thinking, who the consumer is, what the conversation about their product is, and how they need to adapt their product and/or message to make sure they are satisfying the consumer's needs. Another opportunity presented to consumers and companies alike is the ability to quickly connect and resolve issues that may be causing frustration. A great example is what Comcast has done with their Twitter account. They have done a fantastic job of providing an avenue for their customers to talk to them about outages, service issues, or any other question they might have. Not only have they provided this avenue, they have someone qualified behind it. It is refreshing to see customer service actually working. How many times have you called into your cable company (or any other service provider for that matter) and been directed and redirected via tele-prompts or customer care representatives in "the wrong department?" It gets frustrating, and truthfully, can be very damaging.
Just my two cents, but I think Twitter has become a great tool for personal as well as business conversations. Businesses need to be careful, however. If you are going to use Twitter, use it. Don't simply have a Twitter page because it is the latest buzzword in the media. Make sure it is purposeful.