Can Twitter make you money? The rich think so...

by J Bold
19 replies
I watched this short one minute report on CNN today, with interest. I sometimes cringe at what I'm going to see and hear reported when a journalist reports about making money online, but it's not what I thought it would be. It's about a hedge fund group that's created some software that analyzes tweets to help make predictions about the financial markets, and it's shockingly accurate.

See the video here (not sure if you can see it outside of USA)

CNN.com International - Breaking, World, Business, Sports, Entertainment and Video News

My thoughts:

Twitter is one of those big sites funded by venture capitalists, largely, and has never really been a huge money maker yet, from my understanding. I mean, Twitter does not make much money even they are so huge. They have not fully monetized, or perhaps just not as much as others would have. Maybe they're making enough, now, I don't know. I think there are "featured tweets" or something that you can pay Twitter for, but is that it? Somebody else who knows Twitter better can correct me on this, if I'm wrong.

Anyway, about a hedge fund using twitter to help correlate people's moods to the market, it's amazing that it works 88% of the time! Pretty freaking awesome, if you ask me. It reminds me of the project some group demoed this year about sniffing out fake reviews on consumer websites that also worked amazingly well.

The point is, Twitter is a place with real people and a place where people socialize. Use it as such. Be real on Twitter, if tweeting is what floats your boat. But obviously, you can use it as a great way to do research on trends, etc. as this hedge fund is doing, although you'd be doing it on a major scale.

Another lesson to take from this is that if you can innovate and come up with new, smart ways to use existing resources, you will be right on the cutting edge. Pretty amazing what they've done with their software, here.

Also, how about being the guy who coded the software? You'd charge millions for that!

So many lessons and insights you can take from this, wonder if anyone else has any they'd like to share?
#make #money #rich #twitter
  • Profile picture of the author stevenjacobs
    Banned
    that is pretty dang cool thanks for the share
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  • Profile picture of the author SocialMediaOwls
    Any real IM'er has their finger on the pulse of twitter....

    When I see supposed IM'ers in here discredit and demean twitter, I know instantly they are clueless
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    • Profile picture of the author J Bold
      Originally Posted by SocialMediaOwls View Post

      Any real IM'er has their finger on the pulse of twitter....

      When I see supposed IM'ers in here discredit and demean twitter, I know instantly they are clueless
      I think it's good to be in the know.

      I do think people can make good money without twitter, perhaps they have million dollars strategies working quite well for them.

      However, I also think some people equate "not interested in Twitter personally" with "can't make money from Twitter as there's no point" and that's where some will lose out...
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    • Profile picture of the author Robert Michael
      Originally Posted by SocialMediaOwls View Post

      Any real IM'er has their finger on the pulse of twitter....

      When I see supposed IM'ers in here discredit and demean twitter, I know instantly they are clueless
      I couldn't agree more.

      I get so tired of hearing about how Twitter is "junk" for traffic.

      It's only junk because you don't know what you're doing. I have clients who pay me 300 per month to run a TA Pro campaign for them. Took about an hour or two to get everything setup, and now it runs 100% on autopilot.

      Another client paid me 950 for a MASSIVE 5 day (yes 5 day) traffic campaign. Now this one took me about 2 days to get everything setup. But again, once it was ready it just ran on autopilot. I'd say 950 for 2 days of work is one hell of a ROI.

      It all depends on how you are using it.
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  • Profile picture of the author stevenjacobs
    Banned
    Twitter is gaining popularity still and is a great marketing tool. You can send a message out all your followers for free. It is email marketing but, it is very and easier to grow your followers
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  • Profile picture of the author Dee Odus
    Thanks for the post. I see IMers tweeting affiliate links and trying hard to sell on twitter, it ain't gonna work...You need to be social and then recommend what you find useful, no one goes on Twitter/Facebook to buy.
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    • Profile picture of the author cashtree
      If CNN just posted this as news, i'm pretty surprised, I remember reading about this on RSS at least 4/5 months ago.
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      • Profile picture of the author J Bold
        Originally Posted by cashtree View Post

        If CNN just posted this as news, i'm pretty surprised, I remember reading about this on RSS at least 4/5 months ago.
        What's RSS?

        Sometimes these stories take a while to get to a major national news outlet, though.
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        • Profile picture of the author cashtree
          Originally Posted by redicelander View Post

          What's RSS?

          Sometimes these stories take a while to get to a major national news outlet, though.
          RSS feed, just about every site on the internet lets you pull new content off their site via RSS.
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          • Profile picture of the author J Bold
            Originally Posted by cashtree View Post

            RSS feed, just about every site on the internet lets you pull new content off their site via RSS.
            Yes, I know what RSS is, I thought you were talking about a specific news site, though. You read it via RSS, but what was the actual source? Could have been from anywhere if all you're saying is you read it via RSS. But probably you don't remember, I probably wouldn't...
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            • Profile picture of the author fairusfarok
              AS with anything with that potential, in the right hands, it can blow one to riches, or backfire and kill one off. I dun think twitter is one where we start off selling stuff immediately. Its much like a blog, where you need to share, give and take accordingly.

              Just my humble addition to this discussion
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  • Profile picture of the author mukeshkumar@
    Twitter is the best social networking site where you can promote your business and increase the traffic in huge amount. The number of followers always be helpful to make you benefits in your business.
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  • Profile picture of the author cottonking2000
    Twitter is a tool to broadcast unique stories to other. Build your twitter army past 2k users and you can then make a few bucks selling something. But Twitter blocks u at 2,000 unless you have more people following you.
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    • Profile picture of the author cashtree
      Originally Posted by cottonking2000 View Post

      Twitter is a tool to broadcast unique stories to other. Build your twitter army past 2k users and you can then make a few bucks selling something. But Twitter blocks u at 2,000 unless you have more people following you.
      Blocks you how, you mean follow 2000 people?
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  • Profile picture of the author stingrays06
    I think I read something similar to what you're talking about on Click Newz...

    Success Story of 19 Year Old College Student
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  • Profile picture of the author davejug1
    In my experience, whle the theory behind Twitter is a good one, the time/profit ratio is bad in comparison with, as an example, creating a video to get my point across.

    I know people who market purely through Twitter and in all honesty, if you asked any of them they would tell you they are network marketers, they have no skills other than building relationships.
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  • Profile picture of the author Wordpress Genius
    Did the URL shortening service came first before Twitter? I got this idea that these services grew out of Twitter necessity to provide links. Then came these pay-to-link (not sure what they are called) services like adf.ly. So yes, Twitter can earn you something if you use such pay-to-link services with it.
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    • Profile picture of the author J Bold
      Originally Posted by Wordpress Genius View Post

      Did the URL shortening service came first before Twitter? I got this idea that these services grew out of Twitter necessity to provide links. Then came these pay-to-link (not sure what they are called) services like adf.ly. So yes, Twitter can earn you something if you use such pay-to-link services with it.
      I'd say there's a lot more ways to make with Twitter than just with pay-to-link services.

      Who's that Guru before you has given one way!

      I'd be interested to know his methods.
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