Should Analysts use Twitter?

I was recently asked this by a fellow analyst: “I don’t get Twitter, should I use it?” Well first of all, the mechanics of the tool are pretty simple to use, you simply share with others like you would in a chat room. In fact, despite my heavy volume, I’m strategic in my usage, see how I use Twitter.

Often, analysis do a great job of analyzing and researching their assigned market, they forget to look inwards, this guide should help.

Survey your environment
Since you’ll never understand microblogging till you try it, to truly understand, you’ll have to dive in. Since analysts tend to be calculated in their ways (understatement) here are three questions to answer that will help you make your decision to dive in, add one point if you say yes to any of the following three criteria:

1) Is your research market using microblogging tools? For example, at Forrester, we’re role based research, this means I’m conducting research for the Interactive Marketer, and others may be researching for the Enterprise Architect, or the Security & Risk professional. For those that are industry focused (see twitter packs), you’ll have to conduct a survey (or use the search tools) to find out who’s using them. BusinessWeek reports that the CEOs of Mzinga and SocialText (companies in my space) are connected with me.

2) Are your clients using microblogging tools? If your customers (those that buy your reports or services) are using these tools, then as a responsible product manager you’d best understand your customers by listening to them, conversing with them, and understanding their needs. For example, I know my clients (interactive marketers) at tech companies here in Silicon Valley are using twitter, and it’s spreading to other industries. In fact, I’ve made it a habit to ask at my inquiries if folks are using twitter, and for now, after asking 20 clients, the rate is over 75% (estimate)

3) Is it your job to analyze communication technologies or their impacts? If your job as an analyst is to understand and measure the impacts of technologies on communication, then you’d better add a point to this assessment. My job is to cover social technologies and how they impact business and relationships with customers so there really is no question.

The simple scorecard
Twitter is simple, and so shall this scorecard:

If you scored one point, then you should experiment with these tools, perhaps create an account that doesn’t reflect your full name and experiment with the mechanics.

If you scored two points, you should do the previous experimentation, then begin a trial period of at least 30 days to test the tool out. Add folks in your market to follow, and start to converse.

If you scored three points, you should take a proactive approach and plan on integrating this tool within your work life. This isn’t suggesting that you tweet 20 times a day, but you should at least take an active approach on monitoring and observing the market you cover –and those that are buying your research and services from.

Caveat
Despite having a base of 11k followers, I never use Twitter for quantitative research, instead, I rely on Forrester’s survey methodology. Read more about how I use –and don’t use– social technologies for my own research.

See this list by Carter Lusher, a list of analysts that Tweet. It would be helpful if Carter had another column for the analysts coverage area.

  • http://www.sagecircle.wordpress.com Carter Lusher

    re: “It would be helpful if Carter had another column for the analysts coverage area.”

    Whaddya trying to do, create work for me? ;->

    Seriously, maintaining a database of research coverage is very effort intensive. Luckily, companies like ARinsights (in ARchitect) and Tekrati (in Analyst Profiles) provide that. Perhaps at some point I’ll be able to do a mash up with our Analyst Twitter Directory and a separate analyst database.

    Thanks for the link.

  • http://www.web-strategist.com/blog/ jeremiah_owyang

    Carter

    I’m sure there are some startups that could help with the technical aspect of this. WaddaYaMean research is hard work? (as I prepare for another 5-6 hour lab, heh)

  • http://www.BryanPerson.com Bryan Person, LiveWorld

    Jeremiah:

    Some of the analysts I’ve talked to say Twitter helps keep them informed of industry trends, inform and impact some of their writing and research, and connect them to potential new customers.

    One analyst I know who’s constantly on the road uses Twitter to find relevant industry meetups/events to attend in the cities he’s traveling to.

    –Bryan Person
    Live World social media evangelist

  • http://www.mzinga.com Barry Libert

    Jeremiah,

    Thanks for the mention and for producing such great content (on your blog and on my Twitter timeline).

    I really like the scorecard format you just laid out (reminds me of a WE scorecard we have at Mzinga). I’d be interested in seeing folks do similar posts subbing out the word “Analysts” and coming up with their own questions. For example, “Should Moms Use Twitter?” or “Should the President Use Twitter?” I can easily see myself doing a post titled, “Should CEOs Use Twitter” or “Should a Chairman Use Twitter?”

    The three questions I would ask:

    1. Is your competition using microblogging tools?

    2. Are your employees using microblogging tools?

    3. Do you have a knowledgeable team or resource that can help you use/understand microblogging tools?

    Thanks again for sharing your insight and for consistently adding value to the community.

    Best,
    Barry – @blibert

  • http://snoble.net Steven Noble

    And there’s the other reason to use Twitter — analysts are people too.

    Sure I Twitter to let my network know what I’m working on and encourage them to chime — but that’s a conversation that may lead to research; it’s not research in itself.

    The main reason I use Twitter is to share my day with a bunch of people I know, I like and I like to follow. Often, I’m sharing my thoughts about whatever piece of musical esoterica iTunes has randomly thrown my way. This is not consciously strategic, but it’s still good for business, as it means I understand the tools, I broaden my relationship with my community of peers, and we stay on each others’ radars.

  • http://www.LiveWorld.com Bryan Person, LiveWorld

    Right on, Steven. If you *only* posted about your research, that’d be OK. But when you give us glimpses of your other interests, that’s much more interesting. It certainly does humanize you, and I like that!

  • http://www.web-strategist.com/blog/ jeremiah_owyang

    Thanks Barry, yup, these questions could apply to nearly any role, but I was specific for analysts, as it’s not so much competitors as it is ‘subjects’

    Steven, Bryan thanks guys

  • http://fundubytes.blogspot.com Rupesh

    well, it depends upon what you are looking for. say if you take a poll on twitter – “do you like social media?” most of the answers will be yes.. coz that’s why they are on twitter.
    it totally depends upon the subject you want to analyze.

  • http://www.stockMode.com/tech Bharat Mudgal

    I use twitter as well for my research reports. I have found it as a great tool for this purpose, although I got the hang of it quite late.

    I have also been using this new similar tool called Fidjit. Read the related article at http://stockmode.com/tech/post/Fidjit-Twitter-but-better.aspx

    It is quite like twitter with a few add-ons, do check it out.

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