The name Twitter is mentioned by most these days as the major key word in the world of social media. But many have asked exactly how the company could every generate revenue from its current web format.
Company officials, according to TechCruch are now claiming that Twitter is planning to roll out a five-pronged commercial strategy aimed at helping it generate $140 million in revenue by 2010 and $1.5 billion in sales by 2013.
To accomplish those lofty goals Twitter’s long-awaited money-making strategy focuses on verified accounts, search ads, sponsored tweets, AdSense widgets and payments.
Verified accounts, described by Twitter as ‘the fastest way to make money without putting the whole organization behind it’, would see corporate and celebrity users charged for their Twitter accounts. Facebook currently operates a similar model, requiring advertisers to pay to create Fan Pages, as opposed to setting up a profile.
Search ads would see heavy users of Twitter’s search API required to run ads on the service. Twitter will invest in engineering to make the offering ‘flawless’ and ‘timely’.
The thirds prong of the strategy focuses on generating revenue via sponsored “tweets” that could see advertisers charged for targeting consumers with direct messages offering coupons and discount vouchers.
Twitter’s commercial strategy also includes AdSense widgets. The microblog’s founders have said little of this in the past, but they could take the form of Twitter ads that run on third-party sites and in other apps like Google’s AdSense.