Flag a word or Phrase
When tweeting put # in front of the word or Phrase. If people are tracking lets say your website they will be able to find your post. Great for SEO
If you want to track words or phrases :
Get notified when a certain word or phrase goes on Twitter. Write the word or phrase in your update box preceded by the word “track”. You can stop tracking a word or phrase at any time by typing “untrack” and the word / phrase. This feature is good for monitoring what people on Twitter are saying about your business.
It seems that tracking takes place on your phone or IM.
If you've set up your phone or IM on Twitter, you can send a command like:
When someone (anyone who updates in public) mentions "yourcompany," you'll get it on your device in real-time. From there you can send "whois username" to find out more about that person, or "follow username" to follow his or her updates. Don't want to receive anymore about yourcompany? Toggle it off with:
Want to get a list of what you're currently tracking? Send "track" alone (or "stats"). Turn them all off by sending "track off".