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[edited by: arubicus at 10:11 pm (utc) on Feb 24, 2010]
I don't see why that attrition rate is a problem. I'm not interested in building up numbers on Twitter long term. I'm interested in getting visitors to my site long term. Say a Twitter user visits my site three times over a few months, likes what they see, then stops using Twitter, but continues to visit my site. I see that as a good thing.
The time spent on twitter and the like would be better spent on actual SEO.
The problem with Twitter, Facebook and similar social media platforms is that you never know if your followers actually end up seeing your post or not. If they are following 500 twits or are fans of 120 pages on Facebook then it's very likely that your post will get buried very quickly and not be seen.