Monetizing Twitter

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Everyone seems to like twitter these days which is a really cool way of staying in touch with your customers, colleagues, family and friends. Newsweek noted that “Suddenly, it seems as though all the world’s a-twitter.”

Basically twitter is a micro-blogging platform where a user can shout out any message to their ‘followers’ within the limit of 140 characters.

Twitter has three major foundational components:

  1. Generating a massive following
  2. Retaining them
  3. Engaging your followers

Then there are multiple ways to begin monetizing your account:

1. Direct Advertisement: You can recommend and promote a particular product or service on behalf of your advertisers & persuade your followers to take an ‘action’. You register as a publisher a:
http://revtwt.com/signup.php and add your Twitter account information.

Then you can post Cost Per Click (CPC) ads into your Twitter timeline. When other users click on the ads you post, you get paid for each valid click.

2. Affiliate Marketing: If you are recommending a Product or a Service to your followers, you can always embed your affiliate link in your tweet. (e.g. Using a service like http://bit.ly). This is an area that everyone should really look into. You can register for a http://Clickbank.com account and gain access to tens of thousands of products to promote.

3. Direct Sales: Instead of taking your followers to another website using your affiliate link, promote your own product & services and sell them directly via your sales / landing page.

4. Sponsored Advertisements: There isn’t must difference between this and the direct advertisement. I guess the main difference would be that all the tweets which are actually sponsored advertisements can get a predefined prefix which will help your followers to identify them as ads. One company that is gaining popularity is http://mylikes.com

You join MyLikes and go through the list of advertisers. If there is one that you like, you tweet about them to your Twitter followers. When people click on the link you provide, you get paid. The pay is determined based on what the advertiser is willing to pay and / or what MyLikes determines you deserve to be paid by the influence you have within your social media community.

Many of you may think that all these ‘monetizing’ options can actually turn twitter into a marketing swampland. But let’s face it, if you aren’t fully utilizing all the areas of twitter today, somebody else will. But of course you should set a ‘limit’ on how many ‘advertising tweets’ you are going to post so that your followers still consider you as a valuable contact rather than a commercial junkie.

Follow Me on Twitter:  http://twitter.com/devonbrown

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About Devon Brown

From over $40,000 in debt (and bankrupt at age 23, to now doing over $1-Milion in sales per year, Devon Brown (creator of RenegadeSuccess.com) enjoys teaching internet home business entrepreneurs the short-cuts he wishes he knew about when he first started. For free video advice that makes learning internet marketing FUN & SIMPLE, be sure to follow Devon on Facebook

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