In case there’s anyone left who doesn’t know, Twitter is the free micro-blogging and social networking service that’s taken the world by storm. And there is a way that anyone can make money from it.
You see, anyone can open a Twitter account and post updates – popularly known as ‘tweets’ – of 140 characters or less. Other users can sign up to follow you and read your tweets, and naturally you can do the same for them.
Twitter has become popular as a way of keeping up with friends and colleagues, and of course for monitoring what celebrities such as Stephen Fry and Britney Spears are up to. What a lot less people know, however, is that you can make money from your Twitter account.
One good way is by allowing companies to advertise on it.
There are various Twitter advertising networks that aim to make this as easy as possible. My own favourites are Magpie (http://be-a-magpie.com/), Sponsored Tweets (http://sponsoredtweets.com/) and Revtwt (http://revtwt.com/).
To get a reasonable throughput of ads, I recommend signing up with all three of them. All the services mentioned above work quite similarly, so let’s take Magpie as an example.
When you sign up (which is free), you will be asked for some personal details, including your email address and the address of your Twitter account. Magpie will then notify you by email when suitable advertising opportunities arise. Here’s one example I received recently:
Tweet: Free mini email trading course to find profitable trading patterns and increase trading success rate at [website link]
Campaign: trading course
Compensation: per view
You are then given two links to click: one to approve the tweet and the other if you wish to decline it.
After approval, the tweet will be sent automatically to all your followers, and shortly after that a payment will be made into your account with the advertising network.
Some networks also tweet ads automatically if you ask, but I don’t recommend this, as you then lose control over what goes out in your name.
The actual payments you receive depend on various factors. These may include (a) how many followers you have, (b) how many click on the link, and (c) the compensation structure (some advertisers pay a small sum for each click, while others pay a single, larger fee each time their message is tweeted).
Payments are normally made through Paypal. As you probably know, this is a popular online payment system – it’s free to sign up for an account (at http://www.paypal.co.uk/) if you don’t have one already.
All the networks have a minimum payment threshold, ranging from around £15 to £30. Once your account balance has reached this level you can request a payment into your Paypal account – and you can, of course, withdraw from this to your bank account at any time.
1. Other things being equal, the more followers you have, the more you will earn, so it pays to build your list. The easiest way to do this is to follow lots of people yourself – many people automatically follow back anyone who follows them.
2. At the same time, nobody wants to follow someone who does nothing but post ads. Try to ensure you post other types of tweet as well (this is in any event a requirement with most of the networks). These could include jokes, quotations, links to interesting websites, questions, and snippets from your everyday life.
You can also ‘retweet’ other people’s updates if you think they would be of interest to your followers.
3. Monitor your email and Twitter accounts for notifications of new opportunities regularly – most offers expire if you don’t take them up within a few days. Log in to the network websites as well – sometimes opportunities are advertised there that aren’t sent to you directly.
4. Consider inviting your friends to join the networks as well, as most offer incentives for recruiting new Twitterers. For example, on Sponsored Tweets, when a new user signs up via your link, you will receive 10% of the revenue earned by the network for each successful transaction that person makes in future.
5. Consider also cutting out the networks completely and placing your own ads, with the aim of generating commission on sales.
For example, downloadable products on the popular ClickBank website (http://www.clickbank.com/) pay up to 80% commission to affiliates.
Just sign up for an account, grab a link, shorten it with a service such as Bit.ly (http://bit.ly/), and blast out a mini-ad on Twitter. You will then earn commission for every sale made through this.
So do you think you can make this idea work for yourself? Are you willing to try it?
Please let me know your thoughts below.
Also leave a comment if you have suggestions for other Internet marketing advice you’d like to hear about.
Good luck, and see you on Twitter!
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Category: General Advice
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