Twitter is celebrating its sixth-birthday this year, and it has become all too apparent that users are beyond using the technology to set up happy hours and wish happy birthdays. In fact, the 140-word juggernaut has launched a revolution in the way consumers manage their money, their careers and their small businesses.

TUTORIAL: Personal Income Tax Guide

How powerful is Twitter in people's financial lives? Let us count the ways.

Farm Fresh
U.S. farmers are using Twitter to help grow better crops and make more money from their produce. CNBC reports that farmers are using Twitter to reach out to other farmers, and to check the weather and trade price of corn or wheat on the nation's commodity exchanges. Farmers don't have time for long chats on cell phones, even if they could hear the person on the other end of the phone over the heavy noise of a combine. Twitter allows for quick, useful messages, and farmers are taking full advantage. (For more information, read How Small Businesses Can Best Use Social Media.)

Wall Street
Wall Street firms are using Twitter to reach out to important clients and let them know about key market movements and potential trading opportunities. Lori Feldman, a marketing director at Citibank, says that the financial giant's Twitter campaign has helped grow its website five-fold, and around 20% of its tweets to clients are re-tweeted, according to Reuters.

Investment Clubs
Those ubiquitous stock-trading groups that pool their money to build strong investment portfolios - are using Twitter to organize meetings, gather opinions, direct members' focus to potential trading targets and break news on stocks such clubs own – or want to own.

Bank on It
Retail banking customers like Morgan Stanley and Bank of America are using Twitter to strengthen their social media muscle and get updates on information like great auto rates and low mortgage deals. Often, the first time a banking customer hears about a higher certificate of deposit rate or lower mortgage deal, it's increasingly on social media tools like Twitter.

Online Daily Deals on Twitter
Discount-happy consumers are turning to Twitter to hear about the best deals for the day in their communities, or online. Even as short as a year ago, daily deals sites relied mostly on email to get their discount posts out to consumers. While email is still a strong message center for such companies, they're just as likely to reach out to those same customers via Twitter, allowing them to connect with customers away from their computers, and in real-time.

Using Twitter to Promote Brand Loyalty
Big companies are using Twitter to keep customers coming back for more. Starbucks, for example, uses Twitter to provide links to pages on the company website and tell consumers about new discounts. Such "conversational" usage of Twitter builds strong ties to consumers and makes them feel like they're part of the family. (For related reading, see How Social Media Can Help Consumers Save Money.)

The Bottom Line
Twitter celebrates its sixth birthday in March – but the real party is played out every day between companies and consumers. Expect that relationship to thrive for years to come as Twitter continues to grow.

Related Articles
  1. Stock Analysis

    Google's 5 Key Financial Ratios (GOOG)

    Learn how calculating financial ratios such as the debt-to-equity ratio and price-to-earnings ratio helps investors evaluate Google's core business.
  2. Economics

    The Oscars and Golden Globes: Worth Their Weight In Gold!

    The Oscars and Golden Globes set off a wave of spending that creates new flows of funds in the economy and has major financial impact.
  3. Your Practice

    Advisors: Why You Should Never Skimp on Technology

    A recent Fidelity study shows that advisors who embrace technology are more successful. Here are some key steps to gain a competitive advantage.
  4. Entrepreneurship

    Multilevel Marketing Isn't Always A Scam, But It Often Is

    Nerium and Amway are popular direct sales companies that recruit new buyers and sellers to make a profit. Sadly, many direct sales firms are scams.
  5. Term

    How Market Segments Work

    A market segment is a group of people who share similar qualities.
  6. Stock Analysis

    3 Obscure Twitter Accounts Making Money Off of You (TWTR)

    Learn how Twitter accounts that share quotes or information, such as @HistoryInPics and @Notebook, make money from their audiences.
  7. Investing

    5 Up and Coming Social Media Startups

    Although the days of Facebook's dominance aren't close to being over, here are some new creative platforms gaining traction on the worldwide web.
  8. Investing

    Barbie's Body Wasn't the Problem (opinion)

    Barbie's body type wasn't what killed sales, argues Angela Travillian. Other factors were at play.
  9. Stock Analysis

    Is Spirit Airlines a Real Threat to Southwest? (LUV,SAVE)

    Discover why the evolution of Southwest Airlines has decreased its impact on certain markets, and learn more about key financial data for the company.
  10. Term

    How Penetration Pricing Works

    Penetration pricing unveils a new product or service at an initially low price to attract customers away from competitors.
  1. Is a financial advisor allowed to pay a referral fee?

    A financial advisor is allowed to pay a referral fee to a third party for soliciting clients. However, the Securities and ... Read Full Answer >>
  2. How does a long tail become profitable?

    A long tail becomes profitable because the costs to produce, market and distribute a product or service in a niche are low, ... Read Full Answer >>
  3. How do companies with a large product portfolio use BCG Analysis?

    BCG analysis is used to evaluate an organization's product portfolio in sales planning and marketing. It is specifically ... Read Full Answer >>
  4. What are key factors that are generally considered in demographic studies conducted ...

    Key demographic factors that a company might examine to assess a potential market and more effectively target potential customers ... Read Full Answer >>
  5. What are the similarities between product differentiation and product positioning?

    Product differentiation and product positioning are important elements in a marketing plan, and most marketing strategies ... Read Full Answer >>
  6. What are the major categories of financial risk for a company?

    There are many ways to categorize a company's financial risks. One possible perspective is provided by separating financial ... Read Full Answer >>
Hot Definitions
  1. Short Selling

    Short selling is the sale of a security that is not owned by the seller, or that the seller has borrowed. Short selling is ...
  2. Harry Potter Stock Index

    A collection of stocks from companies related to the "Harry Potter" series franchise. Created by StockPickr, this index seeks ...
  3. Liquidation Margin

    Liquidation margin refers to the value of all of the equity positions in a margin account. If an investor or trader holds ...
  4. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  5. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  6. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
Trading Center