Tweak Your Biz » Marketing » How I Make Money On Twitter And Why You Can Too!

How I Make Money On Twitter And Why You Can Too!



If I could show you how to make money on Twitter, would you be interested? I use twelve different Twitter accounts (more on that later) to sell different products, tools, and services. And, like any line of business, it’s only through trial and error that you identify the best places to focus your energies and make the sale.

Do People Really Make Money On Twitter?

I came to the Twitter game pretty late.

One of the problems with Twitter is that there is so much hype, it’s easy to dismiss it as another fad, which is what I did until… well, until I saw that the really smart marketers were using it and saw HOW they were using it.

Where most of us go wrong is that we don’t sit back and study HOW others use Twitter. Most jump in, start tweeting, and hope for the best. There is a better way.

So, where do you start?

Related: Hashtag: “The Power of Twitter”

# 1. Create a Plan of Attack

Before you go out there and start marketing yourself, here’s a suggested plan of attack.

  • Use a desktop application such as Hootsuite to manage your accounts.
  • Setup different Twitter accounts for your personal, business, and affiliate sites.
  • Establish yourself an THE definitive authority in your particular area.
  • Follow lists that relate to your area and then create lists.
  • Retweet others, especially influencers, to get on their radars.
  • Work on Twitter (not play) for 30 min every day.

# 2. Study the Masters

Once you’ve got this in place, start looking at how the most successful folks use Twitter.

For example, some share quality information, others generate buzz, others inspire, and some are deliberately controversial.

The key word is ‘deliberate’.

They use different styles to attract readers, engage, and increase their sphere of influence.

Why are you telling me this?

Because before you start selling, monitor how others do it, adapt their tactics, and then see what works for you.

Related: Running An Effective Twitter Contest For Your Small Business

# 3. Let’s Make Lots of Money On Twitter

Now that you have the tools, made observations, seen mistakes others make, you want to get started, right?

  1. Products – choose a product, preferably your own, and develop a Twitter following around what it offers, not the actual product itself. For example? Instead of selling email software directly, share tweets about how to use email more productively, little known hacks, tweaks and other information that encourages others to share your tweets. Then, once you have the critical mass of followers drop in a tweet selling your product and ask your friends to RT it.
  2. Services – go to http://search.twitter.com/ and enter, for example, ‘project management ?’  (Note the question mark.)  This returns tweets with questions about project management. Answer the question and direct them back to your site. In other words, use the ? to find problems others are having and then position yourself as an expert in this area. This is a very simple and effective way to get consultancy work.
  3. Sponsor Tweets – once you have a critical mass of followers in a specific area, for example, Web Project Management, contact companies who develop this software and offer sponsored tweets. John Chow made $12,000 with a single sponsored tweet last year.
  4. Affiliate Products – sign up as an affiliate, for example on Commission Junction, and then send tweets about this product to your landing page. This is arguably the simplest way to get started as you don’t even need a website. The affiliate link will be shortened by Twitter so no-one sees it till they land on the sales page. The downside with this is that you need to build a following to get through the noise as Twitter is flooded with fly-by-night operators flogging low quality products. But, if you get the right product it works very well, especially if you use automated tools to share the tweets round the clock.
  5. Webinars – this works well if you have specialist knowledge in an area and can persuade your following to attend an ‘exclusive’ online webinar. I attended one with Chris Brogan last year. He reckoned he made about 5k for the one hour webinar, which isn’t bad as there are almost no overheads.

Related: How to Write a Marketing Plan for Twitter

Conclusion

Twitter is a numbers game depending on your following (and quality of followers) but it does work once you get followers who share, retweet, and spread the word. And the key word here is Share. Having followers is fine, but connecting with those who spread the message – they’re the ones you want to work with!

Of the five mentioned about, selling your own products is arguably the most lucrative. Once you have the following, you can sell the products 24*7 and automate most aspects of the sales lifecycle.

What other ways do you use Twitter to make money?

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Ivan helps people run their online business more effectively. Find out at www.ivanwalsh.com http://www.ivanwalsh.com

Add Your Comment

  • http://twitter.com/fredchannel Fred

    Interesting post Ivan. In my case, I’m coming from a different angle: I don’t sell a product (but a service).nA year ago, I simply stopped caring about the numbers game (also used to follow back all my followers. Not anymore) and everything went a lot better (according to my strategy). nThe problem is that Twitter go so polluted. People’s twitter streams are so busy with nonsense that in the year 2011 it’s going to be even more difficult to get “noticed” unless you provide messages that transpire value with a human touch. nI understood what you mentioned about connecting deeply with specific people. It really works.nTwitter is also a solid reputation tool, a channel that defines me and for that reason y spend a little bit of time everyday “building a stage” and I couldn’t manage more that one account that truly reflects that.nI understand there are different needs and strategies and I share with you the fact that the first step is “trial and error”. Those that are not willing to try, will not find new ways.nRegarding your question: I’m based in Chiswick Park, and there are a lot of companies there and around the area. I have created several columns on Tweetdeck tracking people’s mentions there and check-ins. As soon as I pinpoint an interesting profile, I invite them for coffee (we don’t even have to travel, we’re all close:) This instant Twitter to face-to-face experience has really helped me a lot in the past two months. I try it even when I travel. You never know.

  • http://www.ivanwalsh.com Ivan Walsh

    Hi Fred, nnIu2019m seeing the same thing – Twitter got so polluted u2013 and work more closely a select few. This seems to get the best returns as those I work with have similar goals and (also important) weu2019re all learning from each other. nnI think when we look back at Social Media in 10 years, weu2019ll ask why did we do it like that?nnre: time everyday “building a stage” nnThatu2019s a good way of putting it. I try to position myself (this year for sure) as the u2018defaultu2019 resource on Social Media for specific topics. nnIn other words, try to collect, share, and influence others around a specific topic, e.g. Social Media Policies which I’ve just started. nnI like you’re approach of connecting to others as itu2019s something I need to work on, though maybe from a different slant, for example before product launches. nnAndu2026 the mistake I made in retrospect was to copy tactics that worked for a list bloggers. Theyu2019re in a different league. It really does take a bit of creativity to see what works and then, once youu2019ve got it, to refine the workflow.

  • http://twitter.com/Barros_Isabel Isabel Barros

    I totally agree with Fred.nI haven’t changed my Twitter strategy and I don’t care with numbers, but I’ve came to understand that people love to follow a ‘real’ person, someone that can share his/her life with a ‘human touch’ as Fred said.nWhat most annoys me in Twitter are the companies/people that are coming to Twitter with a view of using it as a direct Marketing tool. In the last few months I’ve been followed for an increasingly type of these profiles and I didn’t follow back any of these accounts (why should I ??).nI love the post and I see you understand what I meant above – quality is much more important than quantity. n

  • http://www.btbtraining.com/blog Niall Devitt

    Hi Ivan, This is another gem! Thanks as always for sharing your knowledge. My favourite thing about Twitter is that it is more real-time than the others; therefore I feel it works best as a conversation tool. Most of the work/engagement I do on Twitter happens offline in the form of DMs. I try to take the conversation from online to offline quickly so it helps me to start conversations with people I’d want to talk to. I used to use the phone to cold-call people but I now find where possible Twitter is a far more efficient and time saving tool. Here’s a post from Cindy King at Social Media Examiner that I think will compliment it. http://www.socialmediaexaminer.com/8-simply-steps-to-growing-a-quality-twitter-following/

  • http://www.reverbstudios.ie/blog Leon Quinn

    Hootsuite is not a desktop application is it!?nnGood article. The interesting points for me where Searching for questions, Sponsored Tweets and Affiliate systems which I’m involved with a lot.nnNot sure I agree that you should have separate accounts for personal, business and affiliate. That’s a lot of time managing 3 accounts and might dilute things too much. I’m a sole trader so I AM my business really.nnI get work from Twitter more by reading tweets and jumping on people looking for web designers or advice, etc.. I also find using it to simply make friends, cheesy as it may sound, can be very effective. Someone referred a u20ac1k job to me before Xmas with nothing more than a bit of friendly banter between us over the previous months.nnI think getting your personality across ,communicating and being real is ESSENTIAL with any of these sites. Especially with growing numbers of idiots, spammers, hard sellers and one-way corporate accounts everywhere.

  • http://www.ivanwalsh.com Ivan Walsh

    Hi Isabel, nnIu2019d second that. I feel Twitter is beginning (for me) to get slightly unmanageable as there is so much automation involved, especially spambots that clog up the system. nnSaying that, maybe this creates an opportunity for those who use it intelligently and find ways to genuinely help others. Iu2019ve learnt quite a bit by monitoring others and see how they use it, eg how to create interactions, how to cultivate a following, and how link it back to oneu2019s business. nnYou made a good point about no follows. I have less followers now but more interaction, which seems to be working better :)nnIvan

  • http://www.ivanwalsh.com Ivan Walsh

    Hi Leonnnu2026I think getting your personality across , communicating and being real is ESSENTIAL with any of these sites. Especially with growing numbers of idiots, spammers, hard sellers and one-way corporate accounts everywhere.nnItu2019s their loss if they use it like that. The returns are close to zero.nnThe way I use it is like this (not saying itu2019s right, btw). nnWhen someone comments like you did, I follow them on Twitter, and add them to a dedicated list for those I want to concentrate on. Thereu2019s about 50 people I really focus on of the 2k I follow. And I RT them, connect on Facebook and read their blogs. nnThis is my Inner Circle. nnUsing lists really keeps me sane, especially with the multiple accounts and also Google Reader as I catch them there as well. nnu2026Hootsuite is not a desktop application is it?nnNo, itu2019s a web based app. Thereu2019s no download. It’s the biz!

  • Anonymous

    Great post Ivan. I must say I can’t recall the last time I looked at my main Twitter stream. I’m filtering with those people who interact with me, so that I can establish a relationship with them. Really like your tip about adding the ? to a Twitter Search. I did it yesterday after reading your post with the term Mind Mapping and I was able to help someone pick a good web based Mind Mapping tool.

  • http://www.womanzworld.com/ Natalie Sisson

    I agree in that each time I go on Twitter now I aim to be more strategic and reserve play time for later. Great points here about building good will and value first before pitching your products.

  • http://www.womanzworld.com/ Natalie Sisson

    I agree in that each time I go on Twitter now I aim to be more strategic and reserve play time for later. Great points here about building good will and value first before pitching your products.

  • http://www.womanzworld.com/ Natalie Sisson

    I agree in that each time I go on Twitter now I aim to be more strategic and reserve play time for later. Great points here about building good will and value first before pitching your products.

  • http://socialease.wordpress.com/ Marie Ennis O’Connor

    Well Ivan, you really opened my eyes with this one! Great advice not just on how to sell via Twitter but also on how to leverage time spent on Twitter most effectively.

  • Impiana23

    this is great.. I guess Twitter is more than just tweeting some simple texts but also a way to gain valuable prospects!nngot to implement this! thanks pal for the tips!

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  • http://twitter.com/ChrisSeels1 Chris Seels

    It is really easier than you think to make money off of twitter once you know what you’re doing, I own an amazing piece of software that does all the work for me and makes me an extra $400 a month online and I’m willing to share that software with you, read about it at http://moneywithtwittenator.blogspot.com it’s really incrediblen

  • Avhmarketer

    Hey, Nice Job.nI have Got New Information That I Did Not Know Before.nThank You So Much.nAnatoliy nSee Also: http://www.youtube.com/watch?v=0YBlXJaWx8k

  • http://twitter.com/ChrisSeels1 Chris Seels

    It is really easier than you think to make money off of twitter once you know what you’re doing, I own an amazing piece of software that does all the work for me and makes me an extra $400 a month online and I’m willing to share that software with you, read about it at http://moneywithtwittenator.blogspot.com it’s really incredible

  • http://twitter.com/ChrisSeels1 Chris Seels

    It is really easier than you think to make money off of twitter once you know what you’re doing, I own an amazing piece of software that does all the work for me and makes me an extra $400 a month online and I’m willing to share that software with you, read about it at http://moneywithtwittenator.blogspot.com it’s really incredible

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  • http://twitter.com/YoungWebBuilder YoungWebBuilder

    There are ways of making money on twitter, it is just that people don’t realize it.

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