Potential Twitter Revenue Model
Potential Twitter Revenue ModelApr 02 2009 - Business, Social media - Farhad Divecha
Twitter has gained immense popularity in the last year, and seems to have finally decided to try and generate some revenue. The popular micro-blogging service has publicly acknowledged the possibilities of two potential revenue generation models.
A new project called ExecTweets, was launched last week in conjunction with Federated Media and Microsoft. Twitter has introduced an ad unit to promote this upcoming program. Since then, similar ad units have been spotted promoting other products and services from Twitter itself and from third-party advertisers.
ExecTweets will pool in Tweets from various big-shots and top executives of industry, and then republish them for the general public. The service could be of great interest to a lot of people who want to know the personal opinions of top executives on a wide range of issues ranging from business to personal matters.
While there are rumors that businesses would pay Twitter to feature their Tweets prominently on the network, there is no confirmation of this.Back in February, Twitter co-founder, Biz Stone had told Marketing Magazine, “We are noticing more companies using Twitter and individuals following them. We can identify ways to make this experience even more valuable and charge for commercial accounts.”
Federated Media, on the other hand, has suggested that they would like to put in place a revenue-sharing deal with Twitter.
The ExecTweet list currently includes such prominent names as Richard Branson, Mark Zuckerberg, Werner Vogels and Evan Williams among others. Exec Tweets will allow users to vote on the Tweets and the Tweets will then be ranked accordingly.
Twitter is definitely trying to monetise itself now, a year ahead of their planned intent to start earning revenue. This should not be too difficult as various organisations are promoting Twitter to stay in touch with employees as well as for customer service. Twitter has now hired a product manager to oversee the development of these commercial accounts, but they have not yet set a date for their launch.