twittermoney

Can't Make Money On Twitter? Think Charlie Sheen!

I know what you’re thinking, not another article on Charlie Sheen.  This isn’t an article on Charlie Sheen.  Well not really anyway.  It’s about the massive power of the internet and Twitter.  What’s a personal finance blog doing talking about Twitter?   The potential for making lots of money of course! First, I am not a social media maven.  In fact, I’ve said many, many times, that I think that social media can be detrimental to your finances which is why I have not signed up for Facebook, LinkedIn, etc.  I did, however, sign up for a Twitter account where I can immediately share things with you guys and interact with everyone.  But really, beyond that, I signed up for Twitter to make a little extra cash as well. Apparently I’m not the only one since Charlie Sheen has said that the only reason why he signed up for Twitter was not to chat with the lunatics that are egging him on, but to make money. Quite honestly, with over 2 million followers in a very short period, he stand to make lots and lots of money on Twitter.  The reigning financial queen of Twitter is Kim Kardashian, who pulls in a reported $10,000 for EACH sponsored Tweet.  Since Charlie Sheen is an A-lister and adding followers every day, I bet that his asking price can be at least double that and people would clamor to get a piece of the action. Say that you’re not Charlie Sheen but you want to monetize your Twitter feed.  You’re probably curious as to how to do so.  It’s simple!  There are plenty of advertisers that want access to your followers.  These are my top companies:

  1. Sponsored Tweets (that’s my affiliate link) is great and will accept you with only 100 followers.   They pay you per Tweet which is based on the  number of followers that you have, so the more followers, the more you are paid.  If they determine that you’re followers are really active, you can get paid even more!  They track you influence using your Klout.com score.  The higher the score, the more you Tweet the more you can make.  A blogging buddy with a little over 97 followers was quoted a per tweet price of $5.00 (damn that Justin Bieber fan account) while another with over 2,000 followers is being paid $2.91. You can sign up before reaching 100 followers, but you can’t accept ads until you reach that threshold.
  2. Twtbuck (that’s my affiliate link) I don’t use them much, but they will pay you to Tweet and if you ever want to sell your Twitter account or find out how much it’s worth, this is where you want to be.
  3. MyLikes (another affiliate link) pays a decent amount as well, but you also need a Facebook account for this one.  They will pay you not per Tweet, but per CLICK.  So if a ton of people click on a link, ka-ching, you will hit pay dirt.
  4. Ad.ly is perfect if you are a celebrity or web-celebrity with 10,000 followers or more.  This is where Charlie Sheen got his start.

There are a couple more networks out there but I can’t include them here or endorse them until I have checked them out for myself.  I’ll update this post as I try some new things. So how am I doing?  Well, I have 1,000 followers on Twitter (as of September 2011) since I don’t promote it too much but I am making over $6.49 each Tweet since my Klout is rated at about 48.  For those of you who run blogs or websites or such, think of how much money you might make on Adsense per day, then think of how much you can potentially make by sending out one Tweet.  A friend with 7,500 followers makes over $25 each tweet. So back to Charlie Sheen.  He might be falling off the deep edge, seriously high, or simply a marketing and acting genius.  He has stirred up the web, whipped Twitter into a frenzy with things that he has said as the top trending topic within the U.S. for almost two weeks straight, and there seems to be no end in sight.  Consider the case of the photo below that Charlie tweeted.

charlie sheen twitter milk photo

Charlie Sheen's Got Milk

Charlie said that he was not paid for the endorsement, but the farmer that owns the small dairy that makes the chocolate milk (Broguiere’s Farm Fresh Dairy) has reported that he has been inundated with phone calls from as far away as India.  Talk about the power of Twitter.

If you’re not on Twitter but you want to line your pockets, check out Budgeting in the Fun Stuff’s 5 Ways to Make Extra Money From Your Home… Literally

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34 Comments

  1. Interesting information here. I wasn’t quite aware of the potential of Twitter with regard to sponsored tweets by small/medium bloggers. Not sure if I’ll pursue it now, honestly, but good to know the revenue streams that are available.

    As for Sheen….funny you mention this, because I actually tweeted a question about him a few days ago: is he a PR genius, crazy, or both? Time may tell for sure, but getting 1 MILLION followers in a day is impressive. Imagine the financial possibilities there.

    In any event, we’ll see how long he stays relevant!

    • Yes, you can sell your Twitter account. So if you’re not tweeting and want to get rid of your account, there’s a way out.

  2. I totally think that charlie needs to cash in on this. Even though I doubt that he needs the money (although it seems like he’s got an incredible burn rate, I’m sure successes like 2.5 men and wall street brought him quite a lot of money, not to mention other things he’s acted in.
    A sponsored tweet from him wouldnt be bad, although I dont do them myself – I think my followers would be annoyed, and I’m not sure if I’d be tweeting about things I actually like or use.

    • Ahh but this is where choice comes in. You can choose the offers that you accept. I have been very, very picky about that I choose to accept and they must fall within my niche of personal finance and saving money. So far, so good.

      I will say that I’ve declined about 2/3 of the offers that I’ve received.

  3. For the record, I love making money! Hopefully, someday, I will with all the social networking, but all these adoring fans is a bit much! Maybe, people love watching a train wreck, but it is more than that. Does he have something to say that is worth listening?

  4. Will someone clarify something for me on how the money is generated. I understand the part of someone with a large twitter following making money every time he or she tweets. But what justifies this? Is it that those in those persons receiving this person’s tweet pay to receive it, and then some of this revenue gets passed on to the person with the twitter following? Is that how it works?

    • How it works is this. Advertisers want your followers to see their products. So, the advertisers will pay the Tweeter to send out the tweet in hopes that the followers will click the links and go see whatever it is that they are advertising. So, you are paid for access to your followers.

      The other scenario is a pay per click. Not only will the followers see the ad, but they MUST click through the link to go to the site that is being advertised. This way you are paid only when someone clicks meaning that the follower has some interest in the product.

      It’s just like an advertiser pay’s a TV station to put their ad in front of whatever amount of people might be watching the show, and the shows with the most viewers can command the most ad money.

  5. It is good to know there is monetization option there.

    I will continue to observe, rather than act. But who knows what happens when I hit that millionth follower!

    • Yes, you’re correct! Disclosures are needed. The Tweet companies require you to include disclosures or they won’t be tweeted out. Sample disclosures include the following:

      Brought to you by
      #ad
      Ad:
      Sponsored:
      sponsored by

      It’s pretty simple to toss in the #ad and your disclosure is complete.

  6. Firstly, congratulations for having such an amazing blog.
    And Secondly, I would like to tell you that, even Twtbuck has started its own referral program giving 10% of your referred publishers earnings. And twtbuck publishers are now making around 120-300% more money per day through this.

    Anyways thanks for featuring twtbuck here in this post. :)

    Cheers
    Twtbuck Guy from Twtbuck Team

  7. I used MyLikes for a while but have kind of petered off…most of their latest offers have been kind of lame and I don’t like to tweet about stuff unless it’s actually cool or useful.

    • I don’t use them really. I use Sponsored Tweets the most and I have rejected a little over 50% of the offers.

    • It doesn’t change the look of your Tweet one bit! It looks like it comes from you. I write all of the ad Tweets myself so that it sounds like something I would normally Tweet. One Tweet I send said something like,

      “I’ve partnered with COMPANY XX to offer you 25% your
      next purchase. Ka-ching!”

      The disclosure was the “partnered with”.

  8. I had a vague idea that you could make money from Twitter but thought only celebrities or people with over 100,000 followers did that. I didn’t know you could do it with as little as 100 followers.

    Thanks Sandy!

  9. WOW this is so interesting. I had no idea you could make cash from tweeting. I sent the whole article to my onenote to follow up on when I have time (who knows when that will be ) :) ps tweeted the post!

    • Thanks Barbara for Tweeting. If it’s on the internet, someone is making money from it, and it’s my job to test it out and report back. Purely for scientific purposes, of course.

  10. Very nice post. I know about all the programs and use them daily to monetize my tweets. I would mostly recommend SponsoredTweets because they’re the best in my opinion and I make the most with them. Others are great too, but you need quite a lot of followers and traffic to make some real money. Btw, I write a blog about making money on Twitter so if you’re interesting, please check it out by clicking my name.

  11. Great Blog! I like the idea that you can use tools that can real help you make money online. I had no idea how effective they were. Thanks for allowing me to see that these tools can be trusted.

  12. Sandy, thank you for the heady information. I just started my 1st website at the end of June and haven’t taken time to get to know about these Web 2.0 tools. To find out I can actually make a steady income using some of the tools is priceless. I’ll investigate more as it almost sounds easy and it usually isn’t. I guess my hesitations are: 1.) How do I get traffic initially? 2.) What the heck do I talk about? and 3.) How often must I talk to make any decent money? At $5 per tweet it seems I’d have to talk more online than I do offline – Heh!
    -MS.

    • I highly recommend that you search through the archives of Problogger.net to get started. You have to know what to write about! It has to be something that you don’t mind talking about over and over again. And finally, I have a couple of Twitter posts each day and retweet others and reply to one or two. The entire point is getting your Klout.com score high.

  13. I just signed up. I knew that you could publish sponsored posts, but I had no idea that you could sell whole twitter accounts. That’s so interesting. Thanks for the tips!

    • Glad you found them helpful! Who knows, this might be another revenue stream for someone wanting to create Twitter accounts, build followers and then sell them. Hmmm.

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