go-Digital Blog on Digital Marketing

The Best Proof We’ve Seen Yet That Being On Twitter Can Make You Money

Source: http://www.businessinsider.com/the-best-proof-weve-seen-yet-that-being-on-twitter-can-make-you-money-2012-2

This morning, news broke that the Greeks had a reform deal. The Euro shot up on the news.

But if you were on twitter, you could have profited early.

Trader @pawelmorski just posted this annotated chart.

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See Also:

• The Euro Rockets To A 2012 High Amid Reports That A Greek Deal On Austerity Is At Hand
• STIGLITZ: The ECB Needs To Revise Its ‘Peculiar’ Stance On Greek Default
• Guess How Much The Athens Stock Market Is Up Just Since January 10

Twitter’s corporate development director Mike Brown told a panel at Vator Splash that BeachMint, a service that lets customers buy products picked by celebrities, would be an interesting one for Twitter to buy next. 

Brown said that while celebrities make Twitter what it is, the celebrities are not paid to produce content.

“We are lucky they share content and say crazy things,” Brown said, because they make Twitter interesting to read.

Right now, celebrities tweet for free because of the exposure they get in real-time. They also get paid by brands to endorse products in various venues — including on Twitter.

Brown’s comments suggest that the company is at least thinking about getting more directly involved in those kinds of transactions.

Brown made his comments after ScaleVP’s Sharon Wienbar talked at length about Beachmint, an investment her firm made early on. For the celebrity connection to work, it has to feel authentic for social commerce.

See also: Facebook Reorg May Pave The Way For More Acquisitions

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See Also:

• Facebook Reorg May Pave The Way For More Acquisitions
• HOROWITZ TELLS ALL: This Guy Just Raised A $1.5 Billion Fund
• Why The FBI Wants To Look At Your Social Media Updates

Facebook’s ad revenue may not be growing fast enough to justify a $100 billion valuation. But ads are not the company’s only source of revenue.

Payments are becoming a big deal as well.

Last summer, Facebook started charging companies like Zynga 30 percent of each transaction — like purchasing a virtual good like a cow. (That’s a big reason why Zynga accounts for 12 percent of Facebook’s revenue, alhough that figure includes advertising as well.)

So although payments started as a tiny sliver of Facebook’s overall revenue, now it’s up to about 17 percent of the total.

As companies start to sell other kinds of goods through Facebook, like concert tickets, this percentage could grow.

Please follow SAI on Twitter and Facebook.

Join the conversation about this story »

See Also:

• Facebook Will Make The Fortune 500 Faster Than Any Company Ever
• CHART OF THE DAY: Facebook Revenues Are Decelerating
• Zynga’s Shares Are Skyrocketing After Facebook Revealed Its Addiction To Farmville

Facebook’s ad revenue may not be growing fast enough to justify a $100 billion valuation. But ads are not the company’s only source of revenue.

Payments are becoming a big deal as well.

Last summer, Facebook started charging companies like Zynga 30 percent of each transaction — like purchasing a virtual good like a cow. (That’s a big reason why Zynga accounts for 12 percent of Facebook’s revenue, alhough that figure includes advertising as well.)

So although payments started as a tiny sliver of Facebook’s overall revenue, now it’s up to about 17 percent of the total.

As companies start to sell other kinds of goods through Facebook, like concert tickets, this percentage could grow.

Please follow SAI on Twitter and Facebook.

Join the conversation about this story »

See Also:

• Facebook Will Make The Fortune 500 Faster Than Any Company Ever
• CHART OF THE DAY: Facebook Revenues Are Decelerating
• Zynga’s Shares Are Skyrocketing After Facebook Revealed Its Addiction To Farmville