Even though 57 of the FTSE 100 companies have signed up to Twitter, just 16 are using the micro-blogging site to connect to customers.
The data comes from research by Virgin Media Business which shows that even though 20 percent of Tweets mention a brand or product name, 72 percent of the world’s top companies do not see the full value of Twitter.
This presents an interesting situation where smaller businesses are taking advantage of social media communications in a way that many large companies won’t.
Of those companies in the FTSE 100 that do have a Twitter account, the majority seem to own one with the only purpose being to maximise their presence on search engine listings under their company name. This is a wasted opportunity for connecting with new and existing customers and in doing so, larger companies show that they don't fully understand that the way consumers communicate with and about companies is changing.
In contrast many small businesses and niche companies are using Twitter to great effect. It can even be used for local business, as demonstrated by Farnham Castle in Surrey. This venue launched its Twitter account in July 2009 and now around 10 percent of its website traffic comes from Twitter. They use the network to promote specific events as well as its wedding venue service.
Our own Simply Business Twitter account is an example of how the medium can be used to positively promote brand values.
Business insurance is not the type of industry which you would automatically associate with social media, but we quickly realised that through networks like Twitter we could offer our customers more than just information on public liability insurance. Our customers are at various stages of business ownership and business size and so we try to offer them useful information about general business management as well as answering customer queries about insurance.
If we left our Twitter account dormant for any extended period of time, we would end up doing more damage to our brand than if we didn’t have an account at all.
Phil Stewart from Virgin Media Business agrees. “Creating a Twitter account and leaving it dormant or not responding to tweets by your customers is no better than opening a contact centre and not picking up the phone. In fact it is a lot worse as this lack of interaction can be viewed by millions.
Companies should respond to customer enquiries and take part in conversations about their brand or industry transparently. It might take a few minutes each day, but this could be time well spent if it helps to strengthen relationships with customers, build links with prospects and take part in the dialogue that is shaping attitudes and responses towards your business.”
