Wednesday, September 29, 2010

Being Right or Making Money

Twitter, the company that early on never wanted to talk about money, now has a money-making strategy that it says is working well.


On Tuesday, Dick Costolo, Twitter’s chief operating officer, introduced some new ways Twitter will make money. Advertisers will soon be able to pay for Twitter to suggest that people follow their accounts, and next year Twitter advertising will expand to small businesses, which will be able to place ads using a self-serve system.


But another money-making idea for Twitter — the @earlybird e-commerce account that offered daily deals — will be discontinued, at least for now, because it did not work well apart from a few popular sales, he said.


“We’re definitely beyond the experimentation stage,” said Mr. Costolo, speaking at the Interactive Advertising Bureau’s Mixx conference in New York. “We feel like we’ve cracked the code on a new kind of advertising — advertising that starts out as organic content.”


He was referring to Promoted Tweets and Trends, the ads that companies like Starbucks and Virgin America buy on Twitter and that show up as the top Twitter post when people search for related words, or on the list of trending topics.


Advertisers pay anytime someone interacts with the Twitter post, by clicking on a link, forwarding the post to friends or replying to it. People click on these ads 5 percent of the time, Mr. Costolo said.


Companies will now also be able to buy ads to promote their accounts. Twitter suggests accounts that people should follow, based on their interests, and will use the same algorithm to suggest accounts that advertisers pay to promote.


That way, businesses have the chance to get their posts in front of followers through their free accounts every time they post, not just through ads, and people are choosing to see the posts.


Asked if companies will ever spend millions of dollars on Twitter, as they do on Google, Mr. Costolo said, “That day is right around the corner.” So far, about 40 companies have advertised and 80 percent have advertised more than once, he said. He expects that to be in the hundreds by the end of the year.


“Right now, there’s a line out the door to advertise with us and spend significant dollars with us,” Mr. Costolo said.


Twitter will develop a self-serve advertising system next year that will be easy for small businesses to use themselves, Mr. Costolo said. Companies like Google and Yelp offer a similar service. Twitter has been particularly valuable for small businesses, though it has been so valuable as a free service that it might be hard to convince them they should also pay for ads.


“There’s a portion of small businesses that will use Twitter and are happy with organic followers and will build organically, and that’s fine with us,” he said.


Finally, Mr. Costolo gave some new growth numbers — Twitter has more than 160 million users and is adding 370,000 a day — and said the company was working on ways to help users discover real-time events that are being discussed on Twitter, like conversations around an earthquake or sporting event.


Shopping platform Shwowp aspires to be“a Tripit plus Blippy plus Mint for shopping.” Founded by Internet marketer Tara Hunt, Shwowp (in the same space as RightCliq) attempts to grapple with the issue of all our purchase data being siloed across multiple retailers like Amazon, Bluefly, etc by trying to corral our diverse shopping history into one place.


Shwowp users can make a purchase, forward the receipt or order information to wow@shwowp.com and the service will synch that info to their account. Once there a user can change their own data, view their buying patterns and share information about the shopping experience like how long it took to get to the store, availability, how influenced they were by what their friends were buying and so on and so forth.


Of course the end of goal of this is a serving up a personal RFP in order make shopping data more useful, i.e. provide customers with targeted discounts based on their buying history.


Founder Hunt asserts that currently data is “one sided” and hopes that the fully portable Shwowp platform will make sure that customers really take advantage of their own data and get the shopping experience they needed.


Currently in the friends and family stage of funding, Shwowp plans on making money through affiliate advertising, coupons, opt-in vendor deals, data reporting as well as API usage.  They’re targeting the female market primarily, at $37 million dollars a year.


A: We’re not like Blippy, we’re not a sharing platform in way More interested in signaling part and data portability part. Have an export button on the website.


LL: Leaves me with idea that we want to share what we buy.

A: Our target market is women, because they control 4.3 trillion of spending. And they often shop online and share about products.


JS: I wouldn’t mind sharing my data online as long as I was getting economic benefit.

A: Biggest part is data portability…


JH: Love that you’re thinking big. Practical point, I feel like if you have opportunity to streamline what you’re asking users..

A: We have a lot of steps currently because we’re optimizing for privacy.


DD: I think this idea is deeper than you could convey in six minutes. Data portability, that sort of thing. I think it’s pretty powerful. Getting offers to come to you based on your interests. Would suggest your data is already being shared anyway, you just don’t know it.


JS: Reminds me of end-of-year American Express summary, the thought I could turn that around and get paid for it is compelling.



DNC Chair on Fox <b>News</b>: They are &#39;pushing&#39; for Republicans – This <b>...</b>

President Obama is at the University of Wisconsin trying to rally the Democratic base as November elections near. In a newly published Rolling Stone interview, Obama called it "irresponsible" to paint the base as unenthusiastic.

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DNC Chair on Fox <b>News</b>: They are &#39;pushing&#39; for Republicans – This <b>...</b>

President Obama is at the University of Wisconsin trying to rally the Democratic base as November elections near. In a newly published Rolling Stone interview, Obama called it "irresponsible" to paint the base as unenthusiastic.

3DS Super Monkey Ball out next year 3DS <b>News</b> - Page 1 | Eurogamer.net

Read our 3DS news of 3DS Super Monkey Ball out next year.

Nintendo: 4m 3DS sales in first month 3DS <b>News</b> - Page 1 <b>...</b>

Read our 3DS news of Nintendo: 4m 3DS sales in first month.


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Twitter, the company that early on never wanted to talk about money, now has a money-making strategy that it says is working well.


On Tuesday, Dick Costolo, Twitter’s chief operating officer, introduced some new ways Twitter will make money. Advertisers will soon be able to pay for Twitter to suggest that people follow their accounts, and next year Twitter advertising will expand to small businesses, which will be able to place ads using a self-serve system.


But another money-making idea for Twitter — the @earlybird e-commerce account that offered daily deals — will be discontinued, at least for now, because it did not work well apart from a few popular sales, he said.


“We’re definitely beyond the experimentation stage,” said Mr. Costolo, speaking at the Interactive Advertising Bureau’s Mixx conference in New York. “We feel like we’ve cracked the code on a new kind of advertising — advertising that starts out as organic content.”


He was referring to Promoted Tweets and Trends, the ads that companies like Starbucks and Virgin America buy on Twitter and that show up as the top Twitter post when people search for related words, or on the list of trending topics.


Advertisers pay anytime someone interacts with the Twitter post, by clicking on a link, forwarding the post to friends or replying to it. People click on these ads 5 percent of the time, Mr. Costolo said.


Companies will now also be able to buy ads to promote their accounts. Twitter suggests accounts that people should follow, based on their interests, and will use the same algorithm to suggest accounts that advertisers pay to promote.


That way, businesses have the chance to get their posts in front of followers through their free accounts every time they post, not just through ads, and people are choosing to see the posts.


Asked if companies will ever spend millions of dollars on Twitter, as they do on Google, Mr. Costolo said, “That day is right around the corner.” So far, about 40 companies have advertised and 80 percent have advertised more than once, he said. He expects that to be in the hundreds by the end of the year.


“Right now, there’s a line out the door to advertise with us and spend significant dollars with us,” Mr. Costolo said.


Twitter will develop a self-serve advertising system next year that will be easy for small businesses to use themselves, Mr. Costolo said. Companies like Google and Yelp offer a similar service. Twitter has been particularly valuable for small businesses, though it has been so valuable as a free service that it might be hard to convince them they should also pay for ads.


“There’s a portion of small businesses that will use Twitter and are happy with organic followers and will build organically, and that’s fine with us,” he said.


Finally, Mr. Costolo gave some new growth numbers — Twitter has more than 160 million users and is adding 370,000 a day — and said the company was working on ways to help users discover real-time events that are being discussed on Twitter, like conversations around an earthquake or sporting event.


Shopping platform Shwowp aspires to be“a Tripit plus Blippy plus Mint for shopping.” Founded by Internet marketer Tara Hunt, Shwowp (in the same space as RightCliq) attempts to grapple with the issue of all our purchase data being siloed across multiple retailers like Amazon, Bluefly, etc by trying to corral our diverse shopping history into one place.


Shwowp users can make a purchase, forward the receipt or order information to wow@shwowp.com and the service will synch that info to their account. Once there a user can change their own data, view their buying patterns and share information about the shopping experience like how long it took to get to the store, availability, how influenced they were by what their friends were buying and so on and so forth.


Of course the end of goal of this is a serving up a personal RFP in order make shopping data more useful, i.e. provide customers with targeted discounts based on their buying history.


Founder Hunt asserts that currently data is “one sided” and hopes that the fully portable Shwowp platform will make sure that customers really take advantage of their own data and get the shopping experience they needed.


Currently in the friends and family stage of funding, Shwowp plans on making money through affiliate advertising, coupons, opt-in vendor deals, data reporting as well as API usage.  They’re targeting the female market primarily, at $37 million dollars a year.


A: We’re not like Blippy, we’re not a sharing platform in way More interested in signaling part and data portability part. Have an export button on the website.


LL: Leaves me with idea that we want to share what we buy.

A: Our target market is women, because they control 4.3 trillion of spending. And they often shop online and share about products.


JS: I wouldn’t mind sharing my data online as long as I was getting economic benefit.

A: Biggest part is data portability…


JH: Love that you’re thinking big. Practical point, I feel like if you have opportunity to streamline what you’re asking users..

A: We have a lot of steps currently because we’re optimizing for privacy.


DD: I think this idea is deeper than you could convey in six minutes. Data portability, that sort of thing. I think it’s pretty powerful. Getting offers to come to you based on your interests. Would suggest your data is already being shared anyway, you just don’t know it.


JS: Reminds me of end-of-year American Express summary, the thought I could turn that around and get paid for it is compelling.



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DNC Chair on Fox <b>News</b>: They are &#39;pushing&#39; for Republicans – This <b>...</b>

President Obama is at the University of Wisconsin trying to rally the Democratic base as November elections near. In a newly published Rolling Stone interview, Obama called it "irresponsible" to paint the base as unenthusiastic.

3DS Super Monkey Ball out next year 3DS <b>News</b> - Page 1 | Eurogamer.net

Read our 3DS news of 3DS Super Monkey Ball out next year.

Nintendo: 4m 3DS sales in first month 3DS <b>News</b> - Page 1 <b>...</b>

Read our 3DS news of Nintendo: 4m 3DS sales in first month.


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DNC Chair on Fox <b>News</b>: They are &#39;pushing&#39; for Republicans – This <b>...</b>

President Obama is at the University of Wisconsin trying to rally the Democratic base as November elections near. In a newly published Rolling Stone interview, Obama called it "irresponsible" to paint the base as unenthusiastic.

3DS Super Monkey Ball out next year 3DS <b>News</b> - Page 1 | Eurogamer.net

Read our 3DS news of 3DS Super Monkey Ball out next year.

Nintendo: 4m 3DS sales in first month 3DS <b>News</b> - Page 1 <b>...</b>

Read our 3DS news of Nintendo: 4m 3DS sales in first month.


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DNC Chair on Fox <b>News</b>: They are &#39;pushing&#39; for Republicans – This <b>...</b>

President Obama is at the University of Wisconsin trying to rally the Democratic base as November elections near. In a newly published Rolling Stone interview, Obama called it "irresponsible" to paint the base as unenthusiastic.

3DS Super Monkey Ball out next year 3DS <b>News</b> - Page 1 | Eurogamer.net

Read our 3DS news of 3DS Super Monkey Ball out next year.

Nintendo: 4m 3DS sales in first month 3DS <b>News</b> - Page 1 <b>...</b>

Read our 3DS news of Nintendo: 4m 3DS sales in first month.


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