Giving Free Advice On Twitter? Hold That Thought:
Twitter just isn’t for everybody. If you’re someone giving free stock market advice, Twitter may not be for you when people find out your advice – is horrible. If you’re tweeting for people to do things after you, Twitter may not be for you when people don’t perform the actions you were expecting. There are a few sectors where staying in contact with ‘friends and followers’ are important such as music, sports or how to “Martha Stewart”-like industries where sheep are keeping up with the Kardashians.
A recent equity fund manager just decided to leave Twitter after months of advice nobody thought was useful and we’ve been telling our clients, “don’t use Twitter unless you really know what you’re doing – it can backfire”. Our economics intelligence unit http://www.ToryCapital.com uses Twitter frequently but doesn’t make forecasts that others should follow nor does the site tweet with resolve as if anyone knows exactly where the market is headed. Tweet’s like “I’m shorting (selling) stocks now” don’t really teach others how to fish and people get hung up on this when the net comes in dry.
Tweet with care, building an organic following isn’t easy and those who ignore the utility in developing a well defined social media quotient can end up leaving the platform altogether. If you’re giving free advice on Twitter, just remember, freemium has a price….