Twitter has rapidly grown into an Internet phenomenon with countless geeks, journalists, and twentysomethings jumping on board.  So is it really useful, over-hyped, or both?  Is it a colossal waste of time or the greatest thing since sliced bread?  Should Twitter really have a place in your social media toolbox?

I admit, I wasn’t the first to join this “microblogging platform.” But I did realize pretty quickly that Twitter wasn’t all hype.  I determined it deserved a place in my social media arsenal months ago after realizing that it wouldn’t really take me much extra time and it would be a valuable tool and resource that could easily be integrated into my existing social media presence.  To me, Twitter + Facebook + Delicious + Blogging is the holy grail of social media.  The best part is that they all work together remarkably well. In my case, instead of changing my “Facebook Status” I tweet my status and it automatically updates my Facebook account.  So it didn’t really create any additional work, but opened up my rants, raves and riffs to a wider audience.  And when I write a good blog post (or at least when I think so), I can tweet it and it broadcasts the link to my Twitter followers and Facebook friends.  And if I run across a helpful link or want to note a blog post I wrote, I add it to my Delicious bookmarks, which automatically shows on my blog (using a WordPress plugin) and Facebook account (Facebook app).  It’s easy to see how these things can work well together. The web is truly like legos at this point, it’s just a matter of putting them together. It all helps expand my sphere of influence and opens myself to feedback and new ideas without creating a management nightmare in the process.

I think Twitter gets made fun of a lot because it famously asks the question “What are you doing” before giving you 140 characters to explain (just see the video below).  It’s important to remember that “tweeting” (posting a message on Twitter) isn’t simply about telling your followers what you’re doing (e.g. getting ready to take a shower, eating M&Ms, listening to Phil Collins, etc…).  I like to think it’s also talking in much more generic, broad terms.  As in, what are you doing with your life, your business, your passions.  What are you thinking, seeing, feeling and finding?  If Twitter was only made up of a bunch of people sharing the mundane factions of their life, I doubt it would be elevating in fame like it is.  It’s not always about sharing for the sake of sharing, it’s about sharing when it’s remarkable, when it’s worth talking about.  Tweeting is like sending a text message to a large group of people, instantly.  And sometimes getting texted back.  But it’s portable (you can tweet from your computer or cell phone and the service can be utilized via various apps, SMS, RSS, etc..), free and provides a platform for a wide audience.  Following people like Shaq, Lance Armstrong, Ryan Seacrest, and 50 Cent is like getting a live feed of text messages from them.  Pretty cool, if you’re a big fan.

Moving on…

So what is it, exactly?

Technically speaking, Twitter is a microblogging platform launched in 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams. The service allows anyone who creates an account to write and read 140 character updates, also known as “tweets.”  These tweets are shown on the author’s profile for all to read (unless the user only allows followers to read his tweets) as well as on the home page of the user’s followers.  It allows you to search and follow other Twitter users, send direct private messages and broadcast public replies.  It’s not only about 1 person, it’s about a community, conversation and feedback.   Twitter is often referred to as the “SMS of Internet.”

Why should I care and how can I use it?

We’ll answer this question and more in next week’s post!  Stay tuned!

Below is a recent funny video mocking Twitter. It’s entertaining and brings up some funny points, but keep in mind it’s oversimplifying a lot of things rather than highlighting the complete story around why Twitter is valuable. Obviously, this is because it’s a video mocking Twitter not a documentary explaining value propositions.  There is a reason Twitter is considered to be worth more than a quarter billion dollars at this point and why it’s 3rd behind only Facebook and mySpace in traffic. After reading next week’s post you’ll understand why this video isn’t a reason to stay away from tweeting.  Remember, there is more to Twitter than what you are doing, in the narrow sense of that phrase. And keep in mind this video’s success was no doubt propelled when numerous users spread the link through Twitter.

- @epsilonc

I would not, could not, be on the first page.
I could not, would not, and grew enraged.
I was not ready to go black hat.
I was not ready with a budget so fat.
I dreamed of links, conversions, and bots.
I dreamed of tags, titles, and slots.

How then will my web page now grow?
Where then should I for SEO go?
CPC, CPM, CRM is Greek.
CSS, CPA, B2C is true Geek.
Blogging and good content I know I must make.
But code validation I am afraid I will break.

I want natural results, so I’m going organic.
Yet I want quicker results since I’m in a panic.
So pay-per-click and banner ads now I will place.
Twitter and Facebook may push my slow pace.
SMM and mobile is now everywhere.
If only I knew how to prepare.

Where should I go for traffic and leads?
How can I make my bounce rate recede?
Affiliates I want and reciprocals I call.
DMOZ and Delicious, I now easily recall.
My hat is now white my <body> code is clean.
I am ready for Google, no longer am I green.

- @epsilonc

I admit it, I love shopping. Clothes, shoes, cars, Apple products, the list goes one.  And oh yeah, I love memorable experiences, too.  You know, visiting family, trying out that new restaurant, watching a movie, hitting up Vegas, hell, take me to Europe if possible.  And of course VIP service.  After all, who wouldn’t?  And just who’s to blame for liking fun products, hip dining, and stellar service?  Not me, I say, not me.  Not that I always get what I want (if only).

But we all know we’re living in a new age of frugality.  We even have a positive savings rate (5% in January, believe you me).  It’s Prius over Beamer, H&M over Gucci, Walmart and Micky D’s over Bloomies and Mr. Chow’s.  Always laying out the cash (or plastic) in this newfound age of financial reason may not be the most “in” thing to do.  It may even cause more anxiety and guilt than pleasure and relief.  What a let down, who’da thought this would happen to us, this prosperous plastic economy of our’s we thought invincible.  The bird’s out of the cage — our individual and collective financial foundation has proven to be weaker than once thought.

So when is spending the money really worth it?  And not just spending money on yourself, but on others and on your business?  Well, business owners (good ones) know that money is a tool (leverage) and that leverage can provide power.  When appropriate capital and sound strategy combine, money can be multiplied.  Entrepreneurs also know that sometimes you have to spend money to make money.  Quality, in-demand people come at a premium.  After all, nothing attracts success like success.  And even when it comes to your personal wardrobe or garage, sometimes labels and brands represent simple mark-up branding strategy and sometimes they represent so much more.  When, then, does it pay to spend?

Is spending the extra $20 on that bottle of wine really worth it?  Is your Lexus LS really a far superior choice than the Hyundai Genesis?  Should you use the big name CPA or the little guy?   The big-boy lawyer or the recently minted one down the street? Will paying $250 an hour for consulting that will save or make you thousands better than paying $100 an hour for average results?  Valid questions, varied and individual answers.

I’ll be answering this question (when it pays to spend) over the next several blog posts:

1. When it Pays to Spend (on Yourself)
2. When it Pays to Spend (on Others)
3. When it Pays to Spend (on Your Business)

So stay tuned and prepare to be enlighted.  Your feedback (comments, complaints, compliments) is always welcome – the more voices, the more fruitful this discussion will be.

- @epsilonc