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Posts Tagged ‘Make Money on Twitter’

3 Ways To Make Money On Twitter (Without Being Sleazy!)

There’s nothing wrong with using Twitter to promote your business – but in order to really make money on Twitter, you’ve got to avoid some common pitfalls that marketers get stuck in. Depending on your business model, Twitter might be a place you conduct customer service, see what your competitors are up to, or simply gain exposure for your brand. And while those are great uses of the medium, we’ve got three ways you can make money directly from Twitter – without being sleazy.
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Apple's Steve Wozniak Shows You How NOT To Make Money On Twitter

Apple co-founder Steve Wozniak (@stevewoz) doesn’t tweet much, but when he does it can sometimes be humorous and worthy of attention.

Not today.

I don’t know what Fring is, and I don’t want to know. Tweets like this are a massive turn-off. Who do you think you are, Steve – Kim Kardashian?

First tweet in over 4 months, too. Way to go, Woz. Compare this to how Roger Ebert does it. World of difference.

It’s absolutely fine to use Twitter as a way to generate a second income stream, but there is a right way to do it, and a wrong way. Certainly if you want to maintain any credibility. Little things like transparency are kind of important.

This is a very un-Woz-like tweet and I think the best we can all hope for is that his account has been temporarily hacked. Might also explain why his avatar is missing. Sure, this is the same guy who did Dancing With The Stars, but you’d like to think there were some limits in place.

How Roger Ebert Makes Money On Twitter

An interesting read about how popular movie critic Roger Ebert uses Amazon to generate a second income stream on Twitter.

The untrained eye might not notice that shortened “amzn” link as a signal that Ebert stands to take a 7 percent cut on purchases his followers make after clicking into amazon.com, but his commercial Tweets have grown common enough that regular followers are surely getting the message.

Ebert says he devotes an average of four of his 25 to 30 daily Tweets to recommendations for merchandise available for sale at Amazon.com. He does that as an Amazon affiliate, an arrangement that more and more publishers (including Poynter) have made with the online retailer in recent years.

I’d noticed Roger Ebert (@ebertchicago) doing this (on Facebook too) and was curious as to how receptive his followers were to these Amazon plugs which, while clearly documented, are still affiliate links.

The secret is how smoothly he does it – the way his ads are written and feel (to the reader) is very similar to all of his other tweets. It’s his voice. Plus he’s completely transparent. So much so, that his ads get a lot of retweets.

The size of Ebert’s audience (approaching 350,000 Twitter followers as of Thursday morning) is not the only element that sets him apart from other journalists. A commercial message that makes sense for a critic raises a whole other set of questions for a journalist whose focus is fact as opposed to opinion.

When asked about his Amazon deals by Christopher Heine of ClickZ, Ebert published his answers on his Sun-Times blog: “Have I made a fortune from Amazon? No. Have I made some? Yes. Am I happy to have it? You bet. Have I been amused? Yes. It’s kind of like fishing.”

Ebert also invited users to have their say about his Amazon ads, and more than 100 did so.

A few raised objections, but most told him, in effect, “no big deal,” or thanked him for the valuable tips he provides about good buys in videos, books, clothing and, among other things, coconut milk.

“Glad to have the tips, Roger! Keep ‘em coming,” wrote DannyNM.

Another reader wasn’t so sure at first. “I was disconcerted the first few times I followed one of Robert Ebert’s links to Amazon,” wrote Joann DiNova, “but have since welcomed them with interest. It’s rather like having a worldly, knowledgeable, interesting uncle who is sharing unusual or hard-to-find or little-known things I know I’m likely to appreciate. And his interests always tell me more about him that I’m happy to learn.”

Ebert goes on to talk about why he would never utilise a sponsored tweets network – and he’s right, as they’re massive turn-offs for a lot of users. There’s a lot for us all to learn from here – about etiquette, transparency and doing things right.

(Source: Poynter.)

Twitter Expands Twitter For Business Section (And Now Everyone Can Sign Up To Buy Ads)

Twitter has refreshed its Twitter For Business pages to provide a lot more detail on how the platform can be beneficial for corporates.

The biggest changes are content-rich sections on their promotional features, which includes promoted tweets, trends, accounts and analytics.

Promoted Tweets

Promoted Trends

Promoted Accounts

Analytics


Twitter also expands on its Cost-per-Engagement (CPE) system:

When you promote a Tweet, only the most relevant users see it–put simply, that’s users that follow similar accounts to yours.

Promoted Tweets are offered on a Cost-per-Engagement (CPE) basis, so you only pay when a user Retweets, replies to, clicks on or favorites your Promoted Tweet. Retweeted impressions by engaged users are free, and can amplify the reach and cost-effectiveness of your campaign many times over.

I’m curious how you set a payment ceiling when an advertising message can be passed on by retweets – if you’ve hit your daily budget, does the message stop appearing completely, or are the retweets still ‘out there’ and, therefore, retweetable, at no extra cost to you?

While the advertising program is still in beta and only available to a select group of advertisers, Twitter has added a form to their business pages which allow everybody to sign up to be notified when the platform goes live to all. I’ve signed up, and if you’re a business or brand looking to leverage Twitter and its 175+ million users, so should you.

Twitter Launches @earlybird (Which Sounds A Bit Like Woot… On Twitter)

What is @earlybird?

Twitter @earlybird Exclusive Offers are special time-bound deals, sneak-peeks, and events that are promoted by the official Twitter @earlybird account. We partner with select advertisers and retweet offers that they have crafted only for the Twitter community. Our advertising partners determine the terms of the offer, including availability, amount, and price. As with other forms of advertising from Twitter, we are focused on bringing value to our users and will keep your interests in mind as we develop this program.

(Read more here.)

Twitter makes money from this through a revenue share with the selected advertisers. It all sounds a bit like @Woot, to be honest, and if the partners and offers are good and relevant enough could do very well indeed. (Woot, of course, was recently acquired by Amazon.)

No offers at the time of writing, but expect this to change very soon. Follow @earlybird now to be first in line for those golden eggs.

Twitter For Business – Tips For Brands And Entrepreneurs On Twitter

There’s a new section on my website – Twitter For Business.

This page will house all the tips, tutorials and articles on Twittercism that are most relevant to brands and entrepreneurs on Twitter, including:

Next week, I’ll be publishing a step-by-step guide for businesses that are new to the social network, offering a ‘how to’ guide to maximise the Twitter experience. In the meantime, check out Twitter For Business, and let me know which topics you’d like to see covered in the future.

Twitter Plans To Monetize Search, Google Adwords-Style

Twitter plans a Google Adwords-style advertising model, according to All Things Digital.

(Read more at 140char.com.)

Ads will be delivered via searches on Twitter, and come packaged in 140 characters or less, which might present a dilemma for businesses to get their message across. That said, we’ve all had a lot of practice at selling tweets, so advertisers should be at least semi-prepared.

(Imagine how much better this would all be if Twitter searches came with TweetRank? Perhaps the users with the most clout could be linked up to the advertising model and rewarded accordingly.)

This is a bit of a no-brainer for Twitter. I’ve often speculated on the plausibility of an Adwords-style system on the network (using Spotify as a case study) and the most surprising part is that it’s taken this long to implement (and still won’t hit the platform for a few months yet).

It’s really too early to speculate about the consequences of all of this without more information, but I do have one question: will the option to advertise be open to everybody, like it is with Google’s Adsense program, or is Twitter going to continue the form it has shown with the suggested user list and verified users, and only offer this service to their personal favourites?

Remember, Twitter: The Early Bird Gets The Worm, But The Second Mouse Gets The Cheese

The title of this article (at least, the part after the colon) is one of my favourite Stephen Wright jokes. Actually, it’s not fair to limit it as simply a quip – it’s a sound philosophical observation, and one that may very well apply to Twitter, the company, if not Twitter, the idea.

What Biz Stone, Jack Dorsey and (to a lesser extent) Evan Williams have introduced to our culture is a game-changer. There is no doubt about this in mind. The concept of micro-blogging – exchanging concise but powerful tranches of information with an engaged network of contacts – is here to stay.

And it’s going to get bigger, and bigger, and bigger. When Twitter moves above 100 million active users, the mobile phone companies are going to get nervous. And when Twitter – or whatever supersedes them – heads North of 250 million users, I guarantee that SMS text message prices will be slashed to a fraction of what they are now (which is almost all profit charged to the end user at an obscene mark-up) just so they can compete. After all, why would you pay 20 cents to send one message to one person, when you can send that same message to however many people you like – tens of thousands, even – for free, using the same mobile handset? Fifty times a day.

There’s some buzz right now about Twitter raising some new venture capital which values the company at around $1 billion (MG Siegler at TechCrunch has a nice angle on this). Skeptics continue to point at Twitter’s lack of a clear business plan and, more importantly, revenue. There’s talk of premium accounts for brands and even advertising, but it’s still very speculative. And however Twitter decides to monetise, it’s essential that it doesn’t come at the expense of their user base, because that’s where all of the value is, and always will be.

In its brief history, Twitter has quickly set two benchmarks. It’s the first professional, adult social network – Facebook, MySpace and the others were (and are) dominated by a younger demographic. More crucially, it’s also the first time business has been able to build large, relevant and engaged communities. And because of this engagement, permission-based marketing opportunities are not just available, they’re welcome.

What this means is that there’s an enormous amount at stake for the brands that get really, really big on Twitter. I don’t think is any better illustrated than what has happened to the social media blog, Mashable. Mashable was already a pretty big deal before Twitter took off, but thanks to a consistently strong push on the network (and a lucrative spot on the suggested user list) the website has leap-frogged rival TechCrunch, both in web traffic and on Twitter itself.

Mashable has about 1.5 million followers on Twitter. This ranks them in the top 35 on the network, but is still quite a bit short of the numbers boasted by the more-popular celebrities on Twitter. Ashton Kutcher, Ellen Degeneres and Britney Spears are all closing in rapidly on four million followers. Despite flat and even negative growth for Twitter and social media overall in the past couple of months, each of these will likely have edged past five million followers by the end of 2009. In six months, that number will be closer to ten million.

And the brands will get bigger, too. By this time next year, several businesses will have more than five million followers on Twitter. Five million people they can sell product to multiple times each and every day, seven days a week, three-hundred and sixty-five days a year.

For free.

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