3 WAYS TWITTER CAN CREATE A REVENUE STREAM FOR YOUR BUSINESS
Social Media is an interesting place to be - It's like one giant experiment in psychology wrapped inside a marketer's dream. It's sophisticated, crazy, funny, depressing, egocentric and happy all at once. People from all walks of life engage companies on social media in many different ways.
The possibilities of generating revenue on social media are endless, but that doesn't mean it's automatic. There are still rules you need to follow to get your business found and generate traffic and leads through your website.
If done correctly you can create a strong lead-generating revenue stream giving you a huge advantage over your competitors. There are millions of people interacting on Twitter who don't even bother with Facebook anymore.
Facebook still dominates social media, but from a businesses perspective it can be hard to convert as not everyone is as receptive as other platforms. They don't use it as effectively as a place to interact with their favorite companies like they do on Twitter.
Twitter could overcome Facebook as the place to establish a presence for your business if they can grow their user base in the next several years. Through careful planning and and execution, you can turn your Twitter feed into a revenue-generating platform, while also driving traffic back to your website.
1. Lets Make A Deal: Twitter Edition!
Twitter has always been a great place to cultivate leads and establish a business presence. Now that Twitter and Google have made a deal, it could be the most important out of any other social media platform around (searchengineland.com).
What kind of deal have they made?
Google will now be indexing more tweets. You can't index all tweets as Google's servers would crash but it can still be very effective for your business. Only indexing a few tweets can work to your advantage as there are certain profiles that have a better chance of finding their way into Google's servers. Once they're in there, people can search for your company using hash tags which is a powerful SEO trick that not many businesses are utilizing.
As of right now they are now indexing roughly 6% of all Tweets. Why is this significant and important? It creates a social backlink to your website. It's another way for people to find you and also find Twitter.
While Twitter doesn't make money directly off of this, they do so indirectly. If more businesses can find them, they may sign up to Twitter Ads and pay money for sponsored Tweets. This will bring in more revenue for both Twitter and your business.
If more businesses establish a presence on Google that means more people will, too. People love interacting with their favorite companies on Twitter. Some people only make a Twitter account to follow their favorite movie stars, athletes, companies or restaurants.
You can be a part of someone's Twitter feed, giving you access to what they share and also to get yourself in front of their eyes.
2. Word Of Mouth
They say a Re-Tweet is more important than a Tweet.
Why is that?
Every business knows that word-of-mouth advertising can take a long time to establish but adds a lot to your bottom line.
It's hard to measure word-of-mouth and social proof. When a friend tells you about an excellent experience they had at a local car dealership that could be the difference whether you choose one dealership over another. Friends and family create social proof for one another all the time. Most people are already insecure about buying cars so that one referral can be very powerful. Addressing certain insecurities before someone comes into your business can make all the difference in sales.
You can do all of this on Twitter.
We can measure social proof with Re-Tweets. Re-Tweets in many different forms can be powerful for your business presence.
Lets say you have a small community of friends and family all following your business on Twitter - One day you tweet out a promotion. A mom re-tweets it, whose son and daughter then re-tweet it. Then their dad re-tweets it to his co-workers who all also re-tweet it.
Because all of these people are following your company and each other, they all see it. The people following those people all see it as well. This is word-of-mouth and social proof in action.
Then you combine that with the opportunity to get your Tweet indexed and you have a powerful search engine optimization trick you can't replicate on Facebook.
3. Human Interaction
When you build a Twitter profile and start gaining followers, it can help you get up close and personal with the people that matter the most. Not everyone wants to pick up the phone and call anymore.
People now interact with the world through search engines and social media. They keep up with their friends and family on Social Media. While everyone has a smart phone it's more convenient to engage on twitter. Lots of companies release exclusive news and information on Twitter. Information and news travels much faster on social media. Instead of waiting for the news to come to them people are actively going out and searching for it.
Twitter can be instant - Why wait to see it on TV when you can seek out this news with a smart phone in multiple different areas? It gives you information about your favorite companies in bite-sized pieces of information. It lets your customers decide whether they want to continue interacting with you.
It only makes sense that your business should be there. You can get up close and personal and also monitor what your potential customers are doing. You can keep track of what they like, don't like, Tweet or Re-Tweet. This is all very powerful information as to how to interact with them and how to market to them.
By releasing exclusive information you can gain favor with your fan base. This will also get them to follow you much more closely. When you release an exclusive on your website, put that link into a tweet and tweet it out they may be more likely to click thru to your website for an offer. Fans on Twitter love it when they get exclusive access and information to them first. You're letting them know what the offer is and letting them decide whether or not they should click to your website to claim it.
It's less in your face advertising. It empowers your fan base to make decisions by giving them the necessary information.
This is all information that used to take years to learn about through survey after survey. Now you can learn about it right away. You can test different methods well and reach out to influencers.
What are influencers? They are the people who enjoy your company so much that they will go out of their way to share info about it. Not only will they share about it on social media but they will tell others about excellent experiences they've had interacting with you on Twitter.
This goes back to the whole word-of-mouth and social proof aspect.
Is Social Media For You?
It's not even a question anymore. Now that Google and Twitter have made a deal it's vital to your short and long term search engine optimization. SEO is now the most important aspect of your business and Twitter plays a big part in the process.
All you have to do is figure out what voice you want to have on social media. Once you establish that voice it can go a long way in creating an untapped lead generation stream your competitors are ignoring.