Running early for a client meeting a fortnight ago I pondered Twitter business models, so here are the results of that brain storm.
Models seen in action:
- Simple sales channel: Push special twitter sales via twitter, coupons, don’t dilute keep them timely, relevant
- Customer Service: Answer questions via twitter, talk to clients
- New Product Development: Get ideas from your market, market research, watch the conversation. Sure you can run focus groups but how relevant are they really, get unbiased reviews from real users of your product whilst they use it. Fast & real time
- Networking & relationship building: Using the networking model to meet people on a local or global scale, help draw people to your website, ensure that you can convert on your website.
- Building a niche audience: To pour qualified prospects into your sales channel.
Potential Models I have yet to see utilised:
- Sell subscription to your network: Have a free network of tweets, then charge for private access which includes coaching, marketing help, health etc. (Used by the protect updates feature).
- Provide free data: Users can take a new action to generate some dollars (ie free weather, txt for hourly forecast or traffic reports).
- Extra service layer: Provide dm reminders of appointments, or account balances, notifications of specials. Perfect for service based industries like mobile, banking, auction sites.
- Sponsorship: Sponsor some twitterers to join in their conversation, or to mention your account, or to generate a conversation with them. Like endorsement good to be seen with the right people.
- Gaming: Provide a text like game, interacts with your brand, charge for upgrades.
The loose platform for conversations has huge huge potential, it is just narrowing down the kind of conversations you can build or extend a business off.