Can Twitter really make money for your business? This one is similar to the biggest question my late father had about my work, “People PAY you to Tweet?” Haha. Yes, Dad, they do – but it’s not that simple. I was happy to have the chance to show him why businesses do pay for help with Twitter – effectively using Twitter really CAN make money for your business!
The strategies and techniques for building a business with Twitter are similar to general suggestions on how to monetize social media, but the potential benefits, mindset and mechanics of each platform differ somewhat. So, how do Tweets, Retweets, Mentions and Follows turn in to increased business profits?
Twitter Generates Targeted Website Traffic
Sharing your blog post links with relevant and intriguing updates brings to your site people who want to know about your products, services, or information.
Pro Tip: Have your followers help spread the word for more visitors. Using hashtags increases the chances of a Retweet by 55%!
Twitter Increases Lead Generation & Builds Email Lists
Share your landing pages on Twitter to let people know about your great content offers (ebooks, webinars, checklists, whitepapers). When they click through and sign up, you’ve just gotten a lead right from Twitter! Now you can keep in touch on Twitter and via email.
Pro Tip: Don’t just share once and forget it. With so much activity on Twitter, chances are, most people will not see your update – and even those who do won’t remember having seen it if you share it again. We use “Tweet Old Posts” to share evergreen blog content on a regular basis. Manually share links to content, too – changing up the accompanying text to attract attention of other followers.
Also, consider keeping a Twitter list of all the people who download your content or sign up for a webinar.
Twitter is Great for Networking, Partnerships and Brand Building
In-person networking can be costly, time-consuming, and is limited to the people nearby physically. Twitter opens up the whole world to you! In addition, people and entities that would never take your phone call or read your email are much more likely to pay attention to you on Twitter.
Pro Tip: Follow and interact with your customers, business partners, and other business people you admire. Share their content, give some feedback, or introduce users to each other. Like this, “Hi, @user1, I thought of you when I read URL – I think you and @user2 should connect!” Not only have you endorsed user1, you’ve also offered up a possibility for a nice online connection.
Twitter Use Can Build Trust – and Even Credit!
When you’re active and responsive on Twitter, you show the world you have nothing to hide. You’re demonstrating that you have confidence in your business structure, your product and services when you open yourself up to online comments – good and bad. Promptly answering queries and complaints shows that there is a real person who cares behind that username and behind that company.
Could your Twitter account help you get a business loan or advance? Alternative business lender Kabbage says, “”We’ve learned that if someone has added Facebook or Twitter data” to their Kabbage account, says Gorlin, “they are 20 percent less likely to be delinquent.”" Social proof comes to the finance world!
Pro Tip: Sharing the content of others actually builds your credibility, too! Becoming an overall good source for great content builds your reputation as an expert in your field.
Twitter is a Fantastic Customer Support Platform – Build Loyalty and Reduce Support Costs
So, we all know it’s more expensive to make a new customer than to keep an old one, right? Encourage repeat purchases and renewals when you quickly answer questions and respond to support requests on Twitter.
Pro Tip: People expect answers fast. In fact, 42% of social media users expect a response to their social customer service inquiries within an hour!
- A Company’s Tweets Can Help Make It Creditworthy (npr.org)
- How Can I Monetize Social Media? (scalablesocialmedia.com)
- Social Media Success – Five Key Numbers to Watch [Infographic] (scalablesocialmedia.com)
- Giving Leads to Happiness in Business, Too! (scalablesocialmedia.com)
- What is Inbound Marketing? (scalablesocialmedia.com)