Tuesday, December 8, 2009

How can Twitter turn a buck?

The Twitter fail whale error message.Image via Wikipedia

How can Twitter turn a buck?

We keep hearing stories about maybe Twitter will be sold, and nothing happens. We hear about revenue models but nothing happens. The idea that keeps getting kicked around is advertising ala Google, and yet there doesn't seem to be any concrete idea how to make it work and nothing happens. To me this is a failure.

I feel just treading water in the rapid breakneck social media world is the very definition of failure. How big a failure? Big. Jolie O'Dell says it is one of the "Top ten failures of 2009" http://www.readwriteweb.com/archives/top_10_failures_of_2009.php I agree. The promise was so great and the growth so fast to not make a major move of some kind really saps the momentum. Can you feel the slowing of the Twitter momentum? Yeah I can too.

We can talk about MySpace and how it went from 60% to some 30% of the market in one year and now will lose some hundreds of millions of dollars. In my opinion something like a social media service once tainted as being undesirable and un-cool is almost un-repairable. I don't think we will be able to re-cool MySpace. We can talk about all the little Twitter copycats too.
http://www.wired.com/software/webservices/news/2007/05/twitter_clones

So what to do?
I find the downtime and lack of service or "Fail Whale" the most disturbing aspect of Twitter. It was funny at first, now I wonder if there is any plan at all to move on this and get the infrastructure fixed. I know this costs money.

How to make money? I would look at the users and grade them. We have all seen the studies that a fairly small percentage of people do 90% of the tweeting I would charge these people. A formula should be utilized which considers the amount of tweets, the number of followers, and the value therein. Personally I would pay a small fee, say $10 a year for better service. I would rather deal with this than cheesy advertising. Whatever you decide Twitter hurry up! You are running out of time.



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