Wetpaint CEO Ben Elowitz on the Future of Digital Media
All social networks are not created equal.
We tend to think of Twitter as some kind of Facebook Lite, but this puts us at risk of missing the fundamental differences that make each platform valuable in its own way for brands and publishers on the web.
Facebook is a hub-and-spoke social network. I share, you share, we all share with the common goal of promoting our identities within our social circles. The assumption is that we share our lives – at least as we’d like them to be seen – with our friends.
Twitter, on the other hand, is an interest amplification network. One person shares, one thousand people listen, and some retweet to thousands more. On Twitter, the basic assumption is that tweeters share their interests with their followers. And, with reverb built into the network, that followers do the same. In this asymmetrical network, ideas can spread farther and faster. And because Twitter’s connections are interest-based rather than relation-based, they transmit with far more “gain” on the signal.
But how far, and by how much?
Both Facebook and Twitter hold huge potential for publishers, and yet they are measured quite differently. When a publisher posts to Facebook, they have a pretty good idea of the impact: ~16% of a brand’s followers see a typical post. As with a radio tower, the signal is broadcast once and (while it may reflect here and there) largely travels by line of sight to its listeners.
The actual reach and impact of a tweet, though, remains nebulous and hard to quantify. It’s impossible to track how many of your Twitter followers actually read a tweet, and Twitter hasn’t offered any guidance on the norm. But above all, Twitter is hard to quantify because the real value of a tweet comes from the ripple effects it creates outside of the Twitter stream.
If Facebook acts like a broadcast tower, Twitter acts like a newswire: think about its “tune in” format and its penchant for news-breaking. More and more, journalists and bloggers are getting their news tips from Twitter and repackaging those stories for their own online readership. Which means that one little tweet (unlike a typical Facebook post) can travel a very long way.
Twitter Traffic x 20
In fact, the total impact of a tweet can be anywhere from 1-20x the direct traffic you see from that tweet. At Wetpaint, an average article gets 3% of its traffic directly referred from Twitter.com. If a particularly influential person happens to tweet about one of our stories, however, that number goes through the roof. When Grant Gustin (otherwise know as Sebastian on Glee) tweeted a link to the story “Grant Gustin has Superbowl Spirit,” Twitter’s traffic contribution shot up to 55%. The same thing happens outside of the Twitter stream when our followers pick up on a story and blog about it – we see up to 20x the typical Twitter traffic in ripple effects.
It’s all well and good when that happens, but as publishers how do we consistently effect that kind of outcome? Do we relentlessly pester celebrities and bloggers to follow us on Twitter, or amass a giant following in the hopes that some small percent will turn out to be influential?
How do you tweet for maximum ripple effect?
Creating tweets that achieve 20x their expected reach has little to do with follower counts and forced connections, and everything to do with the nuanced science of human influence. Tapping into the power of influencers in Twitter requires a granular, case-by-case, relationship-focused approach. Sound time-consuming and difficult? It is. But don’t despair – at Wetpaint we’ve been working on this for a while, and I’ll share a few of our hard-earned best practices:
1. Identify the influencers
Sounds easy enough: we all know that an Oprah is worth 1,000 Snookis, and a Snooki is worth 1,000 Elowitzes (sorry, mom!). But celebrity isn’t everything: even better than a Snooki just may be a Stelter. Brian Stelter doesn’t have the consumer name recognition of Snooki, but he’s far more influential in setting the agenda of the media and entertainment press. Influence is all about relevance – and when Brian tweets, the ripples can travel far.
2. Take a look around
Once you’ve identified the influencers most relevant to your audience, it may suddenly become apparent that they’re, well, a bit inaccessible. If Lady Gaga happens to be your target, then it’s time to get creative. Who are the influencers of your influencer?
Every person’s interests are shaped and guided by the people around them. You might read an article about silent retreats after your yoga teacher mentions her recent stint at St. Benedict’s, and you might start reading PandoDaily when your best friend launches a tech startup. Highly influential people are no different – they pick up interests and news from their sister, their friends, and if they’re really doing well, their driver. If Gaga retweets her barista, pursue a relationship with him. And if the barista often retweets his mom, see if she might be interested in what you have to say.
3. Court sincerely
Once you’ve made a list of all the friends you want to make, start earning their friendship. Relationships – whether digital or IRL – can’t be faked. But they can be stoked. Comment on their posts, offer them resources, and genuinely engage with them. Just like in life, once you have a friendship, you can make asks from time to time. And – again just like in the offline world – I’ve found that it’s always best to lead with giving for a while before even thinking about what I’ll get in return.
It’s not an overnight process. Earning influence is just as hard in Twitter as it is in real life. That’s because Twitter is a network of people, not a technology.
These are just a few basics for starters. At Wetpaint we’ve gotten this down to a science: we have analytical frameworks for identifying influence surround rings and continuous A/B testing to optimize every interaction. But it all always comes back to real people building real relationships based on real interests. In the end, even with all that technology to help us, I think it’s the real personal nature of relationships that have helped us be so successful with our audience. And that’s what inspires our audience to honor us with ripple effects by passing on our content to their own friends.