13 Ways to Generate Revenue on Twitter

Courtesy of SocialTimes:

Twitter is a fantastic tool that can help your business achieve a variety of objectives, from brand awareness to networking to increasing website traffic. But, as with all marketing efforts, if you dig deep enough the main objective isusually tied to the bottom line.

After all, why are you excited that your brand awareness has increased? Because the more people who are aware of your brand, the more likely some will turn into customers. Why is networking valuable? Because connections can lead to new business opportunities, and more revenue.

Here are 13 ways you can use Twitter to generate revenue for your business.

1. Sell your product. Tweet out links to your ecommerce site, your pricing/contact page or a product landing page. Don’t forget to include a call-to-action to entice people into buying! And be sure to space these tweets out, so that your account doesn’t come off as overly promotional.

2. Crowdsource new product ideas. Your community has lots of ideas, so why not tap into them to improve your product or service?

3. Find new customers using big data. If you use an analytics or CRM program, chances are you have access to reams of customer insights. It’s just a matter of tapping into these and locating new customers that you can connect to on Twitter.

4. Find new customers using Twitter search. You can use Twitter search to find people who are currently in-market for your product, by searching for keywords like “apartment in NYC” or “gluten-free vegan cupcakes.”

5. Nurture leads with great content. Not all sales happen immediately. Use Twitter to distribute great content, and your audience will warm up to the idea of purchasing from you down the line.

6. Bring people to a physical location. If you have a physical storefront, tweet one-day promotions, new items in stock or other things that will encourage people to walk in.

7. Promote an event. Hosting an event? Use Twitter to sell tickets.

8. Run a limited-time offer. A 24-hour flash sale, 20% off coupon for Twitter followers only, or other limited-time offer will create a sense of urgency that will compel some of your followers to make a purchase.

9. Hold a contest. Twitter contests might seem like a loss (after all, you’re giving something away, not making a sale), but they increase engagement and loyalty, and create positive associations with your brand – all ingredients for a future sale.

10. Reward social sharing of your product/service. Get your audience to share your products, deals and brand with their own networks, thus increasing your potential customer base, by giving them a reward. It can be as small as a “thank you” retweet, or as large as commission from a sale.

11. Use Promoted Tweets to boost your best performing sales messages. Don’t be content to tweet to your 1,000 followers – hit a much larger audience with your best sales messages by boosting their visibility using Twitter Ads.

12. Provide amazing customer service. Not only will Twitter-based customer service save you money by eliminating or reducing the need for a call center, but it will also help with customer retention. And as an added bonus, since the tweets will be public, your amazingly fast, accurate and understanding customer service tweets will act as proof that your brand is reliable for anyone watching.

13. Stay ahead of the competition. Use Twitter to monitor what the competition is up to, and create an edge for yourself in the market.