The Pros and Cons of Making Money With Twitter
It’s refreshing to see the entrepreneurial spirit alive and well, especially with new enhancements to technology. Take Twitter for example. It is, in and of itself, a fantastic technological advancement, but so are the income producing programs that have been created. We’ve seen many innovative applications branch off from an existing service, but as with anything, there are positives and negatives. Let’s take a look at the programs that enable you to make money with Twitter.
Without a doubt, Twitter is an excellent business communication tool, allowing more efficient contact with customers. While it has all the makings for a great advertising vehicle, Twitter as of yet has no formal advertising program. So taking your Twitter use to the next level and starting a Twitter advertising program means finding a balance between a sales pitch and a tweet that will lead potential buyers to your website.
If you blog on Twitter and have a good number of followers, this becomes an appealing vehicle for advertisers. You can actually generate income for a blog you are already producing. Of course, you’ll have to be open to running an advertising pitch at the end of your message, which may or may not offend some of your followers.
Twittad is probably the most structured and established program where you can make money using your Twitter profile. One option is to sell ad space on your Twitter account. You list it on Twittad, name your price based on your followers, and if you accept the ad, it will be added to your Twitter profile. Each time the ad is clicked upon, you earn money.
The other Twittad option is its opt-in advertiser campaign. This is particularly useful for entrepreneurs on Twitter because you can send a tweet advertising a product and earn income by doing it.
While it appears Twitter has the makings for some substantial income producing opportunities, advertising gurus point out some of its potential downfalls. For example, Twitter’s retention rate is less than 50%, which means those who visit your Twitter profile once, may not return again. That makes it a bit more challenging to meet your goals for online audience reach.
While there is much hype surrounding Twitter right now, the question is whether it can maintain it long-term. Keep in mind that some find Twitter’s interface a bit confusing, which means many are still trying to figure out its intricacies, like trying to follow conversation threads and figuring out direct messages and retweets.
Whether or not the pros outweigh the cons is a personal decision. But considering the vast audience that Twitter attracts, it’s a sure bet it’s evolution will include an advertising program. For entrepreneurs, that could mean a promising addition to current online advertising opportunities.
If you’ve tried any income producing programs on Twitter or have your own ways of making money using Twitter, we invite you to share them with other entrepreneurs. Leave your feedback and suggestions in a comment.
Adam Toren
