Would you pay for Twitter stats?
There are an increasing number of sites that are charging for access to Twitter stats, using the typical freemium model, where you get a certain amount for free and then have to pay to get to the good stuff. But is there really any benefit in paying for a stand-alone Twitter analytics package, when there are some excellent social media monitoring services available, at a competitive rate, such as Viralheat? Firstly, why might you want to pay for one of these services?
The Pros
Firstly, why would you want to pay for advanced Twitter stats, when you can get so much from the free tools available? The advanced search options on Twitter Search provide you with a wealth of ways to find out what’s being said about your company, service or brand. The only drawback is the limited period through which you can search for tweets, currently set to 7 days.
Trendistic is a very nice tool that allows you to drill down into the associated tweets for a given day. The one negative of this site is that if you have a fairly niche term, it isn’t able to track for this.
The other benefit to paying for a Twitter analytics package, is that they can help you make sense of the numbers, through looking at the reach and influence of a tweet/tweeter.
The Cons
Price would be the obvious one here – why pay for something when you can get a fairly good service for free? But as you’ll see from the package outlined below, the prices aren’t sky high and could end up saving you money, and helping you gain a lot more insight into your Twitter activity.
Information overload. The drawback of paying for a dedicated Twitter package is that you get so much information that in the end makes little sense to you (or your client). It’s very tempting to get drawn into metrics that don’t really transfer into real world measurables, and you might end up wasting your time trying to improve a metric that isn’t going to give you any real value back.
Tweetmeme Analytics
There’s a handy video below from Tweetmeme that will give you an overview of how their service works, and there’s certainly some nice features. The site shows you how your web content is spreading through Twitter, as opposed to searching for a particular term or Twitter link. You get some pretty graphs that show you how a particular tweet has been trending, when it peaked etc.. But what I particularly like is the feature that shows you the visibility of users – so how many people saw your tweet, but also the most influential retweeters. This is something that’s incredibly valuable for a brand and is certainly not a job you want to be doing by hand.
You can’t doubt the depth of statistics you get, and I recommend you register for a free trial, but again I’d say don’t get bogged down in the detail. Looking at the source of tweets/retweets such as web, tweetdeck etc.. won’t really tell you an awful lot in terms of ‘real world’ information. Prices are from $50 per domain per month, which is certainly affordable.
There is clearly a future and money to be made in analytics, as Twitter have just bought analytics startup Smallthought Systems. The important thing when measuring Twitter (or any social platform) is not just to get drawn into the numbers, but make sense of them and ensure you’re tracking over time to see how you’re improving.
