The Twitter question is one that I suppose will be asked and asked over and over until someone gives us a good enough answer. There doesn’t seem to be any monetization efforts in place.
* We (us Twitterers) don’t pay to use the service.
* Twitter never asks us for anything, i.e., links, posts about the service, donations, etc.
* You can follow or be followed until your heart’s content.
Yet, we all wonder (or have at least wondered at one time), just how it is that Twitter plans to continue thriving and stay in business. We all know that in business, you must develop something, either a service or product, sell it, gain a profit from it (after expenses) and then continue the cycle over again. And, if you do well, that’s called good business and everyone is happy. Most online businesses follow this business principle and duplicate their efforts across several sites or ideas to increase their profitability, increase their exposure and do good business. If they choose not to do things this way, they are usually re-categorized into hobbies or non-profit ventures and tucked away. Twitter though has several high-profile businesses online that have garnered significant followings and even some extra business on the side. Yet they don’t seem that much interested in hasting to monetize their site.
So what’s Twitter’s model?
Profitability is the Big Question
The question remains is if Twitter is good for business. Is it? Has your business made any significant connections from Twitter yet? Are all of those followers you have buying from you or in some way contributing to your bottom line?
As a business, have you been able to achieve measurable results with Twitter?
While I am a Twitterer and a follower, I cannot safely say that I have gained any significant business from Twittering. I have gained some followers to my blog here with Corporate-Eye (thanks guys), but as for bottom-line contributions, only Corporate-Eye’s management would have to confirm or deny that. But, I think it’s safe to assume that it wouldn’t be anything that would bowl one over.
Simple Social Networking
Twitter is an awesome tool for networking, like I’ve blogged many times before, but in business, you have to look at how your actions are contributing and/or enhancing your business’ model and goal. Newser suggests in this article that Twitter’s aim is higher, way higher than money. Really? They believe that Twitter has a more noble cause of making the world a better place and sharing information. Well, if that’s their purpose, then why worry about profitable bottom lines anyway?
Maybe their purpose is to become the social media networking tool of choice by web surfers everywhere. That’s believable. Mindz gave this heartfelt post about how the use of Twitter enables effective communications, therefore transcending any monetary value that could ever be placed on something that is so very needed, so important. But there again, awesome sites like Facebook are heavyweights in the social networking arena. On Facebook, you can actually place a face with a company or a name, thus feeling more “connected” than what 140-characters can do for you.
If you use Twitter, why? Why do you like it or not like it? Have you gained any new business from it? I’m not necessarily in a hurry to see in monetized really, but it does make me wonder if there is a big surprise coming, or should I just relax and enjoy the ride. What do you think?
Latest posts by Bridget Wright (see all)
- Social Media Engagement: 4 Ways to Launch an Effective Campaign - January 20, 2011
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- The Effects of Corporate Blog Marketing - November 19, 2010
- Is Your Company Making the Most of Social Media? - July 21, 2010
- Begin With a Tweet? Foraying Into the Social Media Landscape - July 15, 2010