Future of Twitter Monetization

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Twitter is growing bigger every day. What was once just a 140-character status sharing channel has evolved into bigger than anyone imagined. Today, Twitter has or is testing, multiple features, and functionality that allows its users to earn through its platform. However, most of us are still new to the idea of monetizing on Twitter. That’s why this week, we spoke to social media strategist Joselin Mane about making money on Twitter. Here’s a summary of our chat.

Guest: Joselin Mane
Topic: Future of Twitter monetization
Format: Eight questions directed at the guest. Everyone’s welcome to share.

Q1: How do you get started with monetizing your Twitter presence?

Joselin told us about the four important things you should know and have before you think about monetizing on social media.

First off, know what drives you regardless of money. That’s your passion, and you’ll have a natural tendency to improve on that. If you’re sure of your passion, then you can work smart. The smarter you are about honing your talent to achieve your passion, the better off you’ll be.

Secondly, identify your ideal audience. We often talk about the importance of drawing up a persona. Doing this can help you narrow down what your audience wants and expects from you so you can deliver accordingly. Our guest also shared his avatar worksheet that can help you document your audience persona. Check it out.

Next, know what industry you want to focus on and figure out how broad or narrow your focus will be.

For example, as our guest said, you could prioritize a vertical, such as social media or you can go narrower and take a horizontal approach such as focussing on YouTube. Even though you’re limiting your social channels, you’re also diving deeper into a focus point than anyone else. That’ll help you become an expert in that industry and establish your authority.

Finally, commit to your decision. Monetizing on Twitter, or any social media for that matter isn’t a one-time project. It’s a long-term investment and you should be willing to dedicate your time and energy into building up your brand so that as soon as someone mentions your industry, people think of you and no one else.

Madalyn told us about how she monetizes her Twitter presence. She suggested identifying the best strategies that’ll align with your business and brand, and then figuring out which features and functionality can help you execute those strategies.

Madalyn talks about her coaching and online courses on Twitter Spaces and her podcasts, which she also promotes on Twitter. She’s also always actively engaging with people, sharing Twitter tips. That’s what makes her one of the top resources to learn about Twitter marketing—everything she shares on Twitter aligns with her business offering and the value she provides as a consultant.

Q2: Can I still make money if I don’t have Tip Jar?

Tip Jar is Twitter’s new feature, currently under beta testing. It allows people to donate to you through various wallet apps. Most of us don’t have the feature yet, but as our guest pointed out, it helps to be prepared.

For example, start signing up for these wallet apps based on where you are. CashApp, Venmo, and PayPal are popular options in the United States. You can also use Patreon and Bandcamp. Twitter also integrates with Razorpay for Indian users, Chipper Cash for people across Africa, and Wealth Is Simple.

Choose your app and get on to it. Joselin also shared his referral links. If you sign up through those links, you will get some cash to start with.

Aside from these, you can also use tools like Buy me a coffee, Koji, Happs, Fanbase, and Revue to earn from any type of content you share. You can also use affiliate links to direct people to your website or online store.

Of course, as our friends from Biteable mentioned, you can also take the more traditional route by building up your brand awareness. This is an excellent addition to your monetization strategy because it helps you develop longer-term relationships while you still make money in the short term.

Q3: How can you prepare for Ticketed Spaces?

As our guest pointed out, 90% of Twitter Spaces is about supporting other people’s spaces. Sure, it helps to host your own spaces consistently, but unless you attend others’ spaces, share your knowledge on their platform, and help people connect with you better, you won’t get the most out of the feature. So the best way to prepare for Ticketed Spaces is to join conversations and start building relationships. They will, in turn, support you when you start your own space, ticketed or not.

Another great way to prepare for Ticketed Spaces is to actually test out the beta. As Madalyn explained, you can request access to the feature so you’re on Twitter’s list when they start handing out access.

Q4: What’s Super Follows?

Super Follows is Twitter’s membership model for highly active users. You can get access to the feature if you are over 18 years old, have more than 10,000 followers, and have tweeted at least 25 times over the previous 30-day period. You can choose what type of content you create and you can charge your audience $2.99, $4.99, or $9.99 to receive your content.

Learn more about the feature here.

AS Masooma pointed out, think of Super Follows as bonus content for your followers. Just as a personal trainer would offer free articles along with their paid workouts and meal plans, you can also offer specialized content to those who have a paid subscription.

Q5: How can you prepare for Super Follows?

At the moment, only a select few people in the United States can sign up to test Super Follows. Until you get access, grow your network and build a community of loyal followers. Use Twitter Lists to identify potential audiences and try starting a newsletter of sorts using Revue.

Create content that your target audience needs the most. Often this includes how-to guides and educational material. As you build your portfolio, your audience will recognize the value you offer them, and so when you get access to Super Follows, you’ll already have a bunch of people who’re willing to pay for your content.

Jim shared a great tip to prepare yourself. Just as with any content marketing activity, make a content plan so you know what exactly you’ll create when you have Super Follows. Then, identify a way to make your content unique so that it stands out from the others in your industry who might share similar content. What makes you, you? How can you translate that into your content?

Q6: Are there any ways to generate revenue on Twitter right now?

First of all, make sure you know what you’re doing. To help build out that strategy, go through our guest’s responses to the previous questions. Once you have everything set up, you won’t even have to try hard to sell your service or product.

If you’re consistently offering value, people will automatically buy from you. If you haven’t started already, it might take you a few months to build out a solid plan and start earning. We all have to start somewhere.

As our friends from GiveWP reminded us, you can also talk about your business offerings and direct your Twitter audience to your website. The less friction there is in this transition, the higher your chances of converting a lead from social media.

Q7: What are some misconceptions about monetizing on Twitter?

Oh, so many! One of the most common misconceptions is that you need to be a verified Twitter user to make money. Not true. You also don’t need millions of followers or a Tip Jar, or even to be a Twitter Spaces host. You can still monetize without all of these things. Don’t use these myths as excuses for not putting in the effort.

At the same time, it’s also important to remember that you can’t just monetize your account without complying with the platform’s rules and regulations. As our friends from VirtuDesk reminded us, educate yourself on what you can and can’t do on Twitter and stick to the rules.

Q8: Share some resources to learn more about monetizing on Twitter.

Joselin told us about the space he hosts on Twitter Spaces every Monday at 3pm ET. Join in to learn more about monetizing your Twitter activities. He also records every session and publishes it in various channels afterward so be sure to check them out.

Adam shared a great article from OpinionMonster on how you can monetize on Twitter. Check it out here.

Jim also shared his video tutorials on how to become an Amazon Associate or Influencer and refer people to products you love and use. Have a look at it here: dealcasters.university.

Well, folks, that’s all from me this week. Thanks a lot for reading through and for more great insights from our chat with Joselin, have a look at this Twitter Moment that Joana put together. If you thought this summary was quite helpful, you should definitely come and join us for the live chat! We’re on #TwitterSmarter every Thursday at 1pm ET. See you then!

About me, Narmadhaa:

I write all the things—technical and marketing copy to fill the pocket; haiku and short stories to fill the soul. A social media enthusiast, I’m a member of the #TwitterSmarter chat crew, and always happy to take on writing gigs.

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