One of the hardest things to do in your personal and professional life is to meet and interact with people outside of your confined region and or discipline. Twitter puts you in an arms reach within everyone on the platform. The immediate public perception aligns Twitter with lists of celebrities and coverage as an internet fad. While Twitter may not be for everyone, do not underestimate the inherent benefits.
Twitter enables the opportunity to interact with people who you would otherwise have no platform of communication to reach. Traditional news broadcasts, printed literature, and advertising are often singular and one-way communications. However, Twitter permits a public rebroadcast of the original message.
Rebroadcasts ripple through sets of demographics that traditional mediums and networks never reach. The initial broadcast via twitter might be in the thousands to a specific demographic for a technology product. Yet, the rebroadcast from second hand, third hand, forth hand, etc. can easily be over the hundred-thousand to million unique views from individuals who fall outside of the source demographic. The potential result of a Tweet is a publication onto a fast tracked medium for word-of-mouth communication. The delivery is fueled by users with large audiences and information parsers that can republish and break information to the general population faster than media networks; insurrection in Iran, a helicopter and plan crash in Manhattan - a plane crashing into the Hudson River - and plane sliding off the runway in Denver, an earthquake in China, and terrorism in India.
Twitter is a public forum which also offers the broadcaster of a Tweet a medium for receiving feedback. Feedback can be a public reply to the message, a private reply to the message, a rebroadcast (the ever evolving ReTweet), or a general remark on the public stream. The ability for an individual or company to instantly receive and monitor feedback of their messages has an ever growing list of third-party tools for management and consumption.
Where I presently perceive Twitter to be failing is that to actually interact with the more popular users on Twitter, these power users would also have to be an information power consumers. There is so much public communication inside Twitter that it becomes very difficult to continually consume the messages. Imagine swimming upstream in a river. The more popular you get, the faster the river flows. It is only a matter of time before you are swept away in the volume of information. It has been my experience that when attempting to reach a power user, you have to hope that they are monitoring their feed within moments of your communication. It easy to find a barrel floating down a river while someone is are watching the flow. Otherwise, that message will be so far downstream by user's next login, the information may be washed out to sea or no longer relevant.
Many have found that Twitter does not fully delivered efficient methods to monitor streams of information. Twitter offers three native streams, users following you, users you follow, and the public stream. Twitter offers the ability to shut off streams of individuals following you, which can help reduce spam and may eliminate unwanted content. Most users frequent the stream of individuals in which they follow. However, large numbers are hard to digest and it led Robert Scoble to unfollow over 100,000 users to keep his stream manageable.
It is possible to search the public forum on Twitter, however it is extremely difficult to filter the information to make it relevant. Erick Schonfeld provided a summation on monitoring the public stream and concluded that "Twitter needs to figure out how to extract the common sentiments from the noise." The information in the Tweets from the public stream exist in a raw and uncategorized form that further needs analysis and processing in order obtain any metrics or value from the parameters.
Once Twitter releases tools to enable the consumption and analysis of information, and effectively "twittersenses" the market, (Google's extremely profitable method of selling advertising by search rankings, filtering, and ad placements on web pages), Twitter's cash flow for both the company and consumers (businesses and personal), will skyrocket. Just set your countdown clock, because these tools are in development and have started being deployed on the back end.
Many enthusiasts remain impatient for increased tools to monitor and filter streams since Facebook has already implemented friend filtering on a much more relative and confined scale. It is important to be cognizant that Twitter is a new and relatively undefined market. It will take developers some time to tweak an efficient, scalable, and monetizable implementation.
There has certainly been a lot of speculation about the nominal value of Twitter. During 2008, Twitter was a target acqusition of Facebook and published rumors by TechCrunch cited the offer to be $500 million dollars. After the acquisition attempt failed, Facebook shifted focus to FriendFeed, a microblogging competitor. In the summer of 2009, The Wall Street Journal reported that Facebook bought FriendFeed for nearly $50 million dollars. While the nominal value of Twitter will continue to receive constant speculation, there is still plenty of inherent value in the networking opportunities on the platform.
You should follow me on twitter here.
Above is an edited response to @scobleizer 's post on a nominal estimated value of Twitter seen at: http://scobleizer.posterous.com/why-twitter-is-underhyped-and-is-probably-wor