Saturday, November 6, 2010

8+15 Ways To Make Money With Twitter

"What? You can make money just by tweeting?" This is the reaction that I usually get from my friends who were shocked to know that I can make some money using my Twitter account. In fact this year alone I have earned around RM3000 (US$960) using Twitter via ChurpChurp (A Malaysian company). Of course I have also made a few hundred bucks with other foreign companies. Sounds unbelievable?  Well...believe it and it is achievable if you really want to work it out. Instead of tweeting how you hate your ex-boyfriend or how terrible your boss treats you, why don't you tweet something "valuable" occasionally? These tweets might be able to pay off your broadband bills.

Make Money With Twitter
Are you making money with Twitter?

Before we go any further, do you know what is Twitter? Basically Twitter is actually a micro-blogging platform. Why micro? Because you can only type share your thought in less than 140 characters. Still clueless? Then please read my post: What The Tweet Is Twitter? Is It A Bird? to know more about Twitter. From this point onwards, let's assume that we have the basic knowledge of what Twitter is and how it works. So now let us look at the 8+13 different ways on how we can make money online with Twitter. Why +13? You will know about this later.

Make Money With Twitter
*Should be* 8+14 Ways To Make Money With Twitter

1~Direct Advertisement
Just like a blog, if your Twitter account has a lot of followers (thousands perhaps) and most of them are very geo-targeted, then some companies or advertisers might be interested with your Twitty bird. The more followers you have, the wider your reach is. So potential advertisers would want to advertise directly on your tweets. You are then required by the advertisers to recommend their products or services to your Twitter followers. Your advertisers might want to specify the keywords that you should use and links you should include especially those big spending ones.

2~Affiliate Marketing
Besides using blog, Twitter is also one very useful tool for you to do affiliate marketing. In fact by using Twitter it will be more viral and the effect could have been more obvious. Basically you can use Twitter to promote:

~someone else products or products. In other words you are going to insert affiliate links into your tweets to promote products or services to your followers.
~your own sales landing page that will lead to your very own products and services.

I strongly believe that everyone with Twitter account can use affiliate marketing to make money. Sometimes your followers might even ask (tweet) you questions that allows you to promote your affiliate links. For example, one of your followers might ask for suggestion to choose a reliable web host. Hence you can suggest him a reliable web host based on your experience by inserting your affiliate links.

3~Paid Tweetview (Review)
Consider paid tweetview to be almost similar like direct advertisement from companies. But the difference between the two is that you will actually give your own, honest review of a particular product or service. So instead of promoting something blindly, you will suggest products to your followers after you have objectively reviewed it. You might need to spread your review to a few different tweets. Here are the examples of paid reviews that you can do:

~Products-You will be paid to review a particular product by the advertiser (e.g. search engine optimization software)
~Services-You will do a paid review about a service offered by the advertiser (e.g. web hosting service).
~People-Yes. You might even get paid to review a person. Well...not really the person but maybe about his or her Twitter account, Flikr photos, paintings, artwork, just to name a few.

4~Sponsored Contest
If you are are an influential twitter user with huge following, advertisers might want you to run a contest for your followers. The main purpose of this contest is to create awareness and to enhance the branding of a product of service. Here are the 3 things that advertisers might want you to do for them:

~ask for feedback-You will need to ask your followers questions such as, "What new features should be added to product x".
~create brand awareness-You will ask your followers to describe a particular product and why they like it.  For example: "Tell us why you love product X so much in 140 characters." Prizes will also be given by the advertisers to deserving your twitter followers.
~create hype for an upcoming event or product launching-Yupe! You might be required to include details of the event such as date and venue. For example, "#readmadrid will be in Tokyo this 31st Dec 7p.m. Meet your fav @readmadrid players such as C. Ronaldo there!"

5~Display Advertisement In Your Tweet Links
So far I have only come across 3 companies which is doing this model of monetization-Twitterhat. LinkBucksMyLinksMyAds. Sometimes we will include links to other pages, blogs or websites in our tweets right? So by using Twitterhat or MyLinksMyAds, basically when your followers click on the link, they will be directed to the page with advertisement on top of it. You have to use the provided shortened URL. You will earn each time those ads are being clicked.

6~Charge Followers Money To Read Your Tweets
This has gotta be one of the most fascinating twitter monetization methods I have ever seen. By using TwitPub, you can actually charge those who want to subscribe to your tweets. In order words, they have to pay to be your followers. But first you need to set your Twitter account to private and Twitpub will do the rest for you. Twitpub will actually automate the subscription process of your twitter account. The best part is you can set the price you want from each follower (subscriber) and you will be paid 80% of the revenue. But there's a catch here. You tweets have to be really, really unique and worthy of your subscribers money such as providing stock tips etc.

7~Sponsored Tweet Via Twitter Advertising Networks
In sponsored tweet, advertisers will require you to post tweets through a selected company. In other words you will be sending tweets on behalf of an advertiser indirectly. Everything is done between you and the so-called "middle man." Another distinct difference between direct advertisement and sponsored tweet is that your tweet might not be approved by the advertiser as you will be competing with probably thousands of other twitter users. All in all there are 3 general types of sponsored tweet:

1~CPC (Cost Per Click): Some advertisers will pay you for each visitor (click) that you send them. Then again, you will not earn much with this type of monetization.
2~CPL (Cost Per Lead): Some advertisers will only pay you if the visitor you send them successfully buy their products or services. Yep! You will not be paid for the number of people you send to your advertisers. But you will earn big bucks if the visitor is successfully converted into a paying customer. Some lead can give you as much as US$10.
3~CPF (Cost Per Follower): This can also be known as cost per "impression". This tweet monetization method is the most lucrative out of the 3. You will be paid based on the followers that you have. I have been personally paid around US$50 for one single tweet.

15 Sponsored Tweets Advertising Networks That I Know
1~ChurpChurp (Only available in Malaysia and Singapore)
2~Says.My (Only available in Malaysia)
10~Ad Cause

8~Selling Your Twitter Account
This can be the most lucrative way for you to monetize your Twitter account of profile. If you are a Twitter power user who have hundreds of thousands of followers, this method of monetization will suit you. By selling your Twitter account you can get a one-off payment of several thousand bucks. Of course your followers should be niche-based or geo-targeted for anyone to be interested in. But beware...selling Twitter account online is prohibited by Twitter. Once Twitter sense that something fishy is going on, your Twitter account will be suspended immediately. Wanna know how much your Twitter account worth, click here to find out. Mine is worth US$210k. Hahaha :D How I wish.

Make Money With Twitter

Final words from Tekkaus: I hope this post can give you some inspiration if you are seeking for ways to earn money tweeting. You have to bear in mind that some of the monetization methods are rather intrusive. Hence a lot of your followers might unfollow you if they feel your tweets are rubbish! Furthermore, you have to bear in mind not every opportunity listed above are paying handsomely. So I suggest that you pick the best methods and Twitter Advertising networks that suit you. Before I stop, have you followed me-Tekkaus? Have a great day and happy make money tweeting peeps.