Despite its meteoric rise and the reams of venture capital it’s managed to rake in, popular microblogging service Twitter has thus far failed to produce that one thing that any business needs: A way of making money.
Today, the company says it’s done just that, unveiling a new promotional service for businesses’ tweets — a means of offering an advertising product without, it hopes, alienating its vast user base.
Though it already has a short roster of clients already signed up for the service, Twitter admits that the effort remains a work in progress. Small Business Computing takes a look.
For the past couple years, as Twitter has edged closer to the mainstream and seen its user tally skyrocket, the social media company has been asked continually about its plans to make money.
Twitter’s founders have dropped a few hints, but offered little concrete in the way of a business model, until today.
Twitter is launching a pilot program called “promoted tweets” that lets commercial entities pay for prominent placement of their tweets above search results on the site.