Tuesday, May 26, 2009

Mark Cuban's Take on Twitter for Business



From Mark Cuban's blog entry, on Blog Maverick. Mark is an American billionaire entrepreneur; owner of the Dallas Mavericks, an NBA basketball team; and Chairman of HDNet, an HDTV cable network.

The best example of this is #follow fridays on Twitter. Where users recommend people to follow. Users being influenced by users. A far different experience than the Google search experience. Its also where Twitters anonymity will benefit it as users are able to interact with privacy. Something you really cant do on FaceBook (FB). On FB if you have a friend who knows about trucks. You just email them with a question. Maybe you put it out there to your network. But chances are that network is limited in numbers. Those limits are not in place for twitter.

From a business perspective, I'm sure I'm not alone in getting more referrals from Twitter than Google Search. That's money in the bank for Twitter and FB for commercial accounts. There is no reason why a big or small company, say Charmin selling toilet paper, can't set up a twitter account and do whatever marketing they can to build the largest number of followers possible. From there, Twitter could charge them on a cost per referral click originating from their followers. As long as they cost per click is lower than competing options, why wouldn’t they do it ?

Things change. We are seeing a change in our referral logs right now. That could translate into systemic change in user behavior and business opportunity.

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It's all about being able to maximize your access to the best tools out there, and be very creative about how to translate the features into money-making elements.


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