Absolutely, twitter is a good tool to get in touch with thousands of people related to your business. You can just follow the company pages or the corresponding people and see when they tweet/retweet etc. This way you will come to know about the latest trends related to your business and not only that, you can also contribute/retweet etc and thus engage yourself in a conversation.
Twitter can be used innovatively for business marketing like - it can be used as a communication tool effectively. Marketers or business owners can post quick questions in case of queries which in return help to add credibility to business. Also, by networking with like-minded people, communication can be made interesting which establishes your business expertise.
According to my own experience, Twitter is an ideal variant to promote your business. Firstly, it's quick and interactive, secondly, the interface is very simple in use. Plus it gives you a lot of dif ways to promote your sales
Twitter is one channel of communications that can really add value to a business - but it depends on the business and how you use it with other channels as well. It should not be ignored but used once you have monitored and analyzed what your customers (or potential customers) are saying and what they are getting out of Twitter and then base your Twitter strategy around what you learn.
Using twitter properly is all about engaging your followers and having a quality conversation with them. One of the biggest mistakes marketers make is just constantly blasting "ads" to their followers, only send links to products. People will unfollow you rather quickly if this is the case.
Twitter is best social media web site, you can grow your online business through Twitter, It will drive huge traffics and sales for your online business. be active and sense on Twitter it will grow your experience on Twitter.