If you want to know how to use Twitter to make money online, then you might want to consider taking a cue from Twitter's own monetization model. After all, if it's a good enough monetization model for Twitter, then it might just be a good enough monetization model for you.
In case you do not know, Twitter only recently as of (April 2009) figured out how to use Twitter to make money. Ironic, but not too surprising, considering that the social media phenomenon obviously needed to tread carefully to avoid any appearance of the kind of crass commercialization that could turn its users off.
Irony aside, after consulting with many of the best and brightest minds in the business world and undecidedly considering many different monetization models, Twitter finally settled on a "Promoted Tweets" program.
As you probably know, a Tweet is a message posted by a Twitter user. A "Promoted Tweet" is basically a regular Tweet that an advertiser pays to promote a wider audience on Twitter.
"Promoted Tweets" are promoted in two ways:
- They are displayed on Twitter's search results pages
- They are distributed to the advertiser's followers
"Promoted Tweets" may also appear among related Tweets when people click on a Tweet with a hashtag (the # symbol that is used to tag Tweets by topic). What's really interesting about Twitter's "Promoted Tweets" model is that Twitter was not the first company to figure out how to use Twitter to make money this way.
There were a number of other companies that launched similar programs much earlier than Twitter – among them:
- Sponsored Tweets
- My Likes
These companies offer you the opportunity to earn money by sending out Tweets to your followers that promote offers from various advertisers. Payment models include both pay-per-click (where you get paid a small amount of money for every click your sponsored Tweet generates) and pay-per-Tweet (where you get paid a set amount of money for every Tweet you send out – an amongst that is determined, mostly, by the number of followers you have and the commercial value of your niche).
So if you're looking for a way to use Twitter to make money online, make sure you check out one of the above services. They're free to sign up for and they involve basically no work on your behalf, other than, of course, developing your Twitter following.
Speaking of developing your Twitter following …