Social Media – The ‘Meatloaf Equation’

Sorry. It’s very easy to poke fun and, as I’m the sort of guy who likes ‘easy’, if I get the opportunity, then I will seize it with both hands.

Today I’d like to draw your attention to mashable.com and an article that was published in January this year entitled ’40 of the best Twitter brands and the people behind them’. You can read it if you like – never say I don’t give you anything.

To cut a long story short because, for some reason, I’m just not that into it today, it doesn’t make edifying reading. In fact, if you look behind the breathless and rather candyfloss tone of the article and examine the numbers, you’ll see that the quantity of followers for each of these brands (the 40 best Twitter brands, mind) is minute. And undoubtedly, there’s quite a lot of effort (even if it’s by one person, in their spare time) going into serving this audience – effort which, simply by the laws of math, isn’t making much in the way of a difference.

Anyway, I recognise that eight months is a long time in social media and there’s been a lot of growth, so – and it’s all my inherent laziness would allow – I picked on one of the 40 best Twitterers (Scott Monty at Ford) and compared followers now, with followers then. Mr Monty is now up to over 25,000 followers, compared to 8,500 in January. Which is roughly a three-fold increase and – on that basis – pretty impressive.

However – and anyone who’s been here before will know that there is always an ‘however’.  Current data says there are 45 million registered Twitter users globally. 10% of that would be 4.5 million. 1% would be 450,000. 0.1% would be 45,000. Ford – and a fair number of the other 40 best – have approximately 0.05% of the available audience. Factor in the statistics for Twitter account usage and attrition and it’s a very, very small number indeed.

It’s an example of the ‘Meatloaf Equation’, which goes something like “Two outta three ain’t bad.” “Yes it is. It’s 66%. It’s crap. A ‘B’ grade at best. Must try harder, boy.”

What’s my point? All that effort put into social media strategies for a possible audience of 25,000. Most of whom are untraceable and leave you with no information about themselves. Many of whom don’t actually exist (in that their accounts lapse as soon as they start them up – the average account, total number of tweets from which is one). And very, very few of whom are going to repay you – for these are brands after all – with a purchase.

’40 of the best Twitter brands and the people behind them’? Self-congratulatory back-slapping for those in the gang. Otherwise – vapid and meaningless.

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