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Twitter searches for a business model
Twitter began as a way to combine short text messaging with the web, allowing users to share messages called "tweets" with their followers. While Twitter has grown significantly with 50 million users by 2009, it had struggled to generate revenue. Some potential ways for Twitter to create revenue included charging for premium services, selling display ads, or charging companies to use Twitter as a customer service and public relations tool and to access the database of tweets.
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Twitter searches for a business model
- 1. Twitter Searches fora Business ModelFederico PerezDario YunesAdam Showell
- 2. Beginning of TwitterBeganas a web-based version of popular text messaging services provided by cell phone carriers.Started by a podcasting company called Odeo.Basic idea was to marry short text messaging on cell phones with the web and to create a social group using this idea.
- 3. How Twitter WorksYouronly limited to 140 Characters.Provides a platform for users to express themselves and sharing it with their “followers” who follow you to receive your “tweets”.Has failed to generate any revenue.
- 4. Stats of TwitterSeptember2009, 50 million worldwide.Third largest social media in the market by 2009.60% churn rate.Valued at 1 billion by September 2009
- 5. Biggest AssetsPowerful PR tool for companies, business and celebrities among othersUser attention and audience sizeDatabase of tweets that contain real-time, spontaneous comments, observations, and opinions of the audiencePowerful search engine that mines for tweet patternsPowerful distribution medium
- 6. Possible ways tocreate RevenueAsk subscribers for a subscription fee, or for premium services like video/music download.Sell display ads or text ads.Charge for advertisements inserted into audience tweets. Charge professionals for providing unexpected appointment availabilities. Sell information database of real-time tweets.
- 7. Our Revenue SuggestionChargecompanies to create their twitter account and celebrities which can be used as a powerful Customer Service tool, PR tool and can be used to mine patterns in real-time tweets about their services. Also to sell the database to clients that want a database about all the real-time tweets.
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