money - 2/5 - TheWayoftheWeb

On newspapers, advertisers and social media

March 18, 2009 By Dan Thornton 1 Comment

Russell Davies has a great post on ‘newspapers and all that‘ which looks at the current debate on the future of newspapers and asks where the advertisers/media planners are hiding during the discussion.

As he outlines the reasons why they’re not particularly active in the debate, it echoed my own thoughts – not just on newspapers and magazines, but also about social media. Consumers have jumped all over social media/social networking (175 million+ on Facebook, 133 million+ blogs, Twitter growing fast, Wikipedia essential etc), and celebrities, direct sale companies and media businesses are all getting there pretty quickly – but it’s all being slowed by the reluctance of the majority of advertisers and media planners to adapt to new ways of working, new measurements and new metrics.

Image by fatboyke on Flickr (CC Licence)

Which means the people that will spend money, and the routes to them are evolving quicker than the money which will fund it, and that situation is the slowest one to change.

Buffer

Filed Under: Digital Publishing Tagged With: Advertising, Business, Digital Publishing, funding, money, newspapers, publishing, social media, social networks

Mashable monetizes Twitter in an innovative way

March 6, 2009 By Dan Thornton 7 Comments

One way to monetise Twitter seems to be using feeds/information outside of the site itself – good news for sites and businesses, if not for Twitter directly.

Probably the best use so far is by Mashable, revealed today. In conjunction with viral scientist, Mashable contributor and Twitter uber-analyst Dan Zarrella, the site now has a widget displaying ‘Twitter Brand Sponsors’.

Quoting from Mashable:

‘Twitter Brand Sponsors is a small step towards our sociable ads goal. Here’s how it works: a limited number of brands (and one charity!) looking to engage with the social media community can have their latest Tweets syndicated into the Mashable sidebar, and interested visitors can choose to connect with those brands on Twitter.’

The first sponsors are Jetblue and Mailchimp, indicating that there’s interest at launch – it will be interesting to see how many companies are engaged with a suitable Twitter presence to benefit.

And it also removes the questions around the previous example of Glam’s Twitter feed widget, which displayed moderated #Oscar tweets in a widget with advertising:

Is it right to profit from user-generated content created on another site, and without the awareness of those creating the content?

Would advertisers, even those related to the target audience/subject get enough value from display advertising around Twitter content.

Instead, the Mashable approach allows people to see interaction from businesses (and charities), and decide whether or not to engage.

I have to admit, I’m wondering whether they’ll white-label the Twitter widget, as I’d be keen to run something similar!

Buffer

Filed Under: Monetising, twitter Tagged With: Advertising, dan zarella, mashable, monetisation, monetization, money, twitter, twitter brand sponsors, widget

Money arrives on Twitter with Twitpay

December 19, 2008 By Dan Thornton 2 Comments

Rather than making money from Twitter advertising, Twitpay allows you to transfer money to any other Twitter user with a simple Tweet.

'Money' by jenn_jenn on Flickr (CC Licence)

Send an @ message, for example ‘@badgergravling twitpay $5 for running 140char.com’ or via the twitpay site.

Adding funds to Twitpay can be done via Paypal, and if you’ve got over $10 in your account, you can spend it as an Amazon gift card, a donation to a Twitpay charity, or to Twitpay itself – meanwhile the service takes a flat rate of $0.01 for every $1

It’s a stunningly simple idea to have a ‘Paypal for Twitter’, that came out of a startup weekend. You can read more about how the idea came about on the FAQs page.

What’s interesting is that this is a new approach to providing a monetisable service via Twitter, and possibly creating a new Twitter economy. The main question will be whether enough people have an urge or reason to transfer money to someone on Twitter leaving to use an existing service – and whether more business ideas will appear now the facility is available.

For instance, considering you can place a coffee order via Twitter, perhaps Twitpay could let you pay for it instantly as well, without the need for cash or a debit card?

Edit: Just discovered an alternative in Tipjoy, which also allows for payment via Twitter messages.

Buffer

Filed Under: Tools, twitter Tagged With: Business, cash, donation, economy, money, paypal, sending, tipjoy, transfer, twitpay

Monetising Twitter with Magpie Ads – Week 2 round-up

December 12, 2008 By Dan Thornton Leave a Comment

When I wrote about my first week of using Magpie to monetise my Twitter account, I wondered if there was the inventory to even get close to the ratios of 5 posts to one advert.

The second week appears to be backing up this theory – since then I’ve had just a couple of advertising messages, raising my earnings up to the 17 Euro mark, despite leaving the ratio at 5:1. At this rate it will be quite a while before I reach the minimum payout of 50 Euros.

But as I said before, this is a good thing in some ways, as one or two adverts a day seems to be an amount that doesn’t offend – and perhaps the number of advertisers will increase after Twitter co-founder Biz Stone picked the service over monetisation alternative Twittad in an LA Times article.

“I think any kinds of projects that focus more on the Twitter updates are more compelling,” Stone said.

For the record, Twittad is claiming 1600 sign-ups, 170 advertisers, and I’ve just finished my first month of allowing them to serve adverts on my profile page. (Feel free to book me for another month right now!)

Interestingly Ev Williams has recently said the economic climate means Twitter will seek to monetise in Quarter 1 2009.

From Cnet: “The revenue plans aren’t just ads or sponsorships. “We want revenues to be product-based. Google built something that can really scale, and that’s our intention as well.”

Still, in the meantime if you want to try Magpie, why not use a link that also helps to fund 140char? Strangely the Twittad affiliate scheme seems to have a form error at the moment.

Buffer