Erica Eloy
10/8/10
CSR 40600
Tweeter
Tweeting of Sorts
5 Retailers Tweeting
1. Sephora - http://twitter.com/Sephora (91,932 followers)
2. Urban Outfitters - http://twitter.com/UrbanOutfitters (261,142 followers)
3. Saks Fifth Avenue - http://twitter.com/saks (6,976 followers)
4. JCrew - http://twitter.com/jcrew_insider (15,713 followers)
5. DVF - http://twitter.com/insidedvf (110,980 followers)
What do a department store, high-end fashion designer, and preppy, makeup and urban-hip specialty stores all have in common? Not only are these American retailers: Saks Fifth Avenue, DVF, J. Crew, Sephora, and Urban Outfitters, located online but also each has a Twitter account. The number of retailers using Twitter to promote their business is growing daily. According to Twitter’s homepage, “Businesses and organizations.... are now able to stay connected to their customers. It can be used to quickly share information with people interested in your company, gather real-time market intelligence and feedback, and build relationships with customers…” Twitter can benefit retailers in multiple ways, these 140 character blurbs are free of charge, and all a retailers needs is an account.
A Twitter account allows a retailer to “communicate” or advertise directly to interested consumers. In order for a consumer to receive tweets from their favorite retailer, the consumer must follow the retailer’s account. Since a consumer has to seek out the retailer on Twitter, the retailer is only reaching interested consumers. An important concept in retailing is the 80:20 rule; about 80% of a companies business comes from about 20% of the companies’ customers. Those that are following the retailer are interested and most likely loyal to the company. Retailers are not only advertising to their loyal fans but also advertising at little to no expense. To put this into perspective, J. Crew can reach over 15,000 interested people through a Tweet.
Through Twitter a company can inform consumers about up-and-coming events, current events, or even ask and receive consumer feed back. This information is brought to the retailer’s follower on any device with Internet capabilities. Thus a more informed consumer is created. Once the consumer receives the tweet, they have the ability to go to the retailer’s website or store and benefit from the information provided. Twitter allows retailers to communicate with their customers in real time. Consumers have the ability to shop 24 hours a day 7 days a week. Twitter allows retailers to be in contact with their loyal customers in the same way a customer has the ability to shop online, anytime they choose. What can seem bothersome to a consumer in an email can be made “fun” in a tweet. For instance, a consumer would rather post a picture wearing a newly purchase product than send an email informing the company of the product and the company’s services. Tweeting can inform retailers instantly what they are doing well or what they need to improve on by receiving feedback from consumers.
Twitter is improving e retailing in many ways. This free service has combined social media and e-commerce to create a network where retailers and consumers can “communicate” on multiple levels. Through Twitter, retailers are in constant contact with their consumer and can inform him or her of promotions, in store events, or on-line exclusives instantly. What once cost millions and some instance billions of dollars to reach 100,000 people has not only become free but also is reaching a retailer’s most profitable customers.