The Advantages of Immaturity

The news that Twitter’s latest growth stats have been strong got me to thinking about how we in the social media space deal with the maturity of platforms.  Twitter’s growth stats weren’t necessarily surprising when thought about logically, it’s a popular service with mainstream attention that provides a valuable service.  It still felt a little surprising, however, because the context around Twitter has changed.  While it was once the hottest start-up, subject to endless speculation about its usage and growth possibilities, it’s now much more of a known commodity.  People understand Twitter now, which has removed some of the excitement the platform once brought.

While excitement may seem less important to the usefulness of a platform than say, functionality, it’s actually an extremely valuable asset in the field of emerging technologies.  For an example, lets look at running a campaign on Myspace versus running one on Foursquare.  Myspace still has a great deal of traffic (just under 70 million unique visitors last month, according to Compete) and as such a well-run campaign on the platform has the potential to reach a great deal of consumers.  Foursquare, while growing quickly, only has 1.7 million total users and as such has far less reach.  So why are brands falling over themselves to work with Foursquare and its competitors while Myspace languishes as a punchline?

The reality of our industry is that a lot of benefits can come from campaigns after they’re over with.  Being able to reach consumers and drive action is valuable, but if you stop there you’re not getting enough bang for your buck.  It’s the benefits after the fact that drive people to Foursquare instead of Myspace.  The first is earned media, which is essentially free coverage received because something a brand engaged in was particularly interesting or innovative.  Earned media is something we’re very high on at VaynerMedia and when you think about how much money is spent on PR annually the benefits are obvious.  The Wall Street Journal or even an industry-specific blog like Mashable covering your initiative can increase its scope greatly, not to mention the benefits of having your brand in front of all their readers.

A second benefit is having your brand associated with innovative technologies.  Most established brands are in a constant struggle to remain relevant to each new generation.  Associating your brand with emerging technologies can go a long way in creating a fashionable, cool perception.  Finally, there’s value in first adopter status and being “right” about a technology.  Whether its creating a valuable relationship with a company while it’s seeking acceptance or leveraging a reputation to gain access to new technologies in the future, a reputation for intelligent tech adoption can pay major dividends.

That’s why it’s important to understand where Twitter stands, both in perception and actual usage.  As it transitions from industry success story to established player, Twitter employees aren’t the only people monitoring the platforms mindshare and brand perception.  As it becomes more popular and more widely utilized, the ability to capture the benefits mentioned above become more and more difficult, which ultimately affects our recommendations to clients as to what platforms they need to become involved in and where they should house their next campaign.  Has Twitter become too widely adopted or is it still new new enough that the first-mover benefits still apply?