How to make money on Twitter: 7 top tips

Twitter is a great tool, not only for communicating, but also for making money. There are a whole host of individuals out there today who have made successful careers out of money made on Twitter. However, you do not have to be a social media genius to get in on the action.

All you really need to make money on Twitter is some creativity and ambition. Below is a look at 7 tips that to help you out.

Crowdsourcing

This involves soliciting contributions and ideas from a larger community or group. This practice has been a favorite marketing tool over the years, especially with regards to social media, and can be a great way to get you started.

Sell products

This is probably one of the most straightforward ways to make money on Twitter, as long as you have something to sell of course. To make people buy what you are selling; include a call-to-action and use a range of discounts and promotions. You may also be successful with “daily deals” along with other basic marketing strategies.

Produce your own Twitter-related service

Create a product that your audience will want to buy and use to enhance their Twitter experience. For example, apps that allow users to track and automatically generate hashtags have already proven popular.

Use sponsored tweets

There are individuals and companies out there who will pay you to Tweet about their products and services for a certain fee. Head over to SponsoredTweets.com to find sponsors.

Discover new leads

If you're selling a product or service, use Twitter's search engine to find potential customers based on their bios and what they tweet about. You can then target your products to people who will be interested in what you have to offer, hopefully increasing your sales.

Hold a contest on Twitter

One interesting idea to try is to link up with a local business that wants publicity and offer to jointly hold a contest on Twitter. This leaves you room to be as inventive as you want to be and can be a great way to enhance your exposure as well as the partner company. Just make sure you receive a percentage of the sales revenue.

Use YouTube

Why not use other social networks to harness your Twitter power? Promote your videos on Twitter and vice versa to generate two groups of followers and get your name know in the social media world. YouTube content can be monetized using AdSense two create two revenue streams.