Sahail Ashraf posted on 8 July 2022
It’s official: brands can use Twitter to make money. But monetisation is not that simple, and can be dependent on where you are and how established you are on the platform.
Twitter has moved into general monetisation relatively recently. This hasn’t always gone down well with core Twitter users, who have sometimes felt that the whole point of the platform was to offer free speech and nothing else. However, all social media channels have to monetise in some way, and Twitter has put in place a number of methods that can be utilised by brands.
We are going to look at the various monetisation options open to brands and businesses on the platform, and work out which are worth pursuing. Most of this is new, and also very much being rolled out carefully in certain regions, so brands in some countries may not be able to investigate them yet.
This can be part of a slow-burn strategy if a brand wants to work to build up authority over time. With an established and useful account, a Tip Jar can be used as a way to build up an income.
It is a very new thing, and possibly something that brands may not even find useful. However, having a Tip Jar on your account can mean that followers can send you money as a donation.
Potentially, it could be utilised as something to attach to a small campaign. Many non-profits do this, but as a business, if you have a campaign that is running that has some great content in it, it could be a way to bring in some extra revenue. This all depends on the size of your brand, and whether or not you will see value in a potentially smaller revenue source (at least at the start).
Not every brand will be able to utilise a Tip Jar because it has been rolled out carefully by Twitter. If your brand has, it may be worth investigating and seeing what happens. As a monetisation option though, it is arguably a second-choice thing.
Any marketer worth their salt will know that being on Twitter means that you can help build a brand’s presence and create leads. This is still a great long-term way to monetise the platform for brands. And the more effort you put in, the better.
Get your profile up to scratch and ensure that your branding is consistent. Then, use the Twitter account to push visitors to your website or landing page. The bigger your account becomes, the more likely you will see benefits coming from this strategy.
It is the best long-term and relatively cost-effective way to ensure that your Twitter account is monetised. Remember that once that first lead comes in from Twitter and is converted, you have monetised your account.
Still in its early stages, Super Follows is an exciting way to monetise your Twitter account while also continuing to build the brand.
Any account that is given the opportunity to use the Super Follows option will have over 10,000 followers. That is the requirement, so immediately this can mean that some brands will not be able to take advantage of the option.
If you have 10,000 followers then you can have Super Followers. These Super Followers pay a subscription to receive your best content. Twitter explains it like this:
“Super Follows is a paid monthly subscription that offers bonus content, exclusive previews, and perks as a way to support and connect with people on Twitter.“
If a brand has been given the option to have Super Follows, then a button will appear on your brand profile. People can choose to Super Follow you, and pay a fee that runs on a scale from $2.99 to $9.99.
Brands can gain up to 97% commission on what Super Followers pay. After lifetime earnings through Twitter pass the $50,000 mark, they earn up to 80% in revenue.
This is effectively a way to create a subscription plan for your best content. Twitter offers plenty of advice on what content to offer, and the general idea is that you give Super Followers special items and exclusives that they won’t get in your feed.
Twitter also mentions what Super Followers get in return for following your brand:
Super Follows benefits include:
It’s definitely an exciting development, and if you have 10,000 followers and an established, popular account (which you are going to have with 10,000 followers anyway) it seems like an excellent monetisation opportunity.
Bear in mind that this is new, but if it is a monetisation opportunity that would fit into your business strategy, it might be a good time to build up that follower count.
These are a great way to build authority as well as to gain more engagement overall. A Ticketed Space means having an event basically, which you charge followers to attend. Naturally, you bring your best content, and your most useful content.
According to Twitter:
Ticketed Spaces help creators generate revenue from the Spaces they host while allowing their audiences to show their support by purchasing tickets for the experience and conversation that creators provide in Twitter Spaces. Creators can use Ticketed Spaces to host workshops, conversations, or meet-and-greets with their most loyal fans. Twitter’s global platform is the perfect spot for hosting live, paid events. Now creators can earn money for hosting their Spaces.
Again, this is a great brand-building opportunity that can also mean that monetisation is possible. As of writing, this option is only available to US audiences, but it’s a solid opportunity for brands developing thought leadership and we can see this one spreading worldwide very quickly.
Tip Jars? We don’t think so just yet. They might be good for smaller brands that run small campaigns, but not for brands that are enjoying growth. However, the other options are most definitely worth exploring if you have been chosen during the roll-out and are in the right region.
If you haven’t been chosen yet or your region isn’t ready, start building that follower count and authority.
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