Twitter and Facebook are seasoned veterans of the social media scene. Yet, there continues to be considerable discussion around these two behemoths of late—particularly when it comes to their mind-boggling growth rates.
Twitter is a phenomenon in its own right. With a 1,382% annual growth rate, it’s hard to disagree. There’s even talk about Google acquiring the micro-blogging site (which would warrant its own blog post if and when that happens).
Though I regret to admit I’ve been slacking on my own tweets, it seems I personally have been surrounded by all-things Twitter over the past two months. Our agency supported the Rochester Twestival—the first event of its kind that united 200+ local communities worldwide on the same day, using Twitter to raise money and awareness for a good cause. While watching NCAA basketball, commentators were glogging via Twitter to capture the action as it unfolded. Oh, and RAF requested to follow me too!
Now, what about Facebook and its robust 200% growth rate? Is it really taking over our lives? I was surprised to learn that Facebook’s fastest growing demographic is women 55 and over—up 175% since September 2008. Also, for the first time, I saw a commercial that included VitaminWater’s Facebook page—instead of the company’s website.
These are all solid examples of how both Twitter and Facebook have already transformed the way people communicate in general, as well as how businesses have adapted to reach their customers in new ways. It will be interesting to see how these two evolve, and what results from the competition between them. Will the companies continue to one-up each other? Will they remain private entities, or eventually be acquired? Ultimately, is their growth sustainable?