Using Twitter for research? It could be a winning idea
US-- A competition to help Twitter make money has thrown up market research as one possible revenue stream for the micro-blogging site.
Albert Kim, a manager in Chicago for new media strategy and communications firm Denuo, submitted the idea for Twitter Antenna as part of a contest organised by the Silicon Alley Insider blog.
Kim's idea is for Twitter to setup an opt-in panel of users who can be segmented and then targeted by brands looking for quick and cheap feedback from a particular group of consumers.
Feedback from these panellists in the form of Tweets – the 140-character messages that are Twitter's lifeblood – would then be stored in a special client dashboard where they can be analysed in detail.
Kim suggests charging a dashboard setup fee of between $10,000 and $20,000, with clients paying a further $1.25 for each reply to their questions. Within a year, he estimates, the company could generate up to $10m through Antenna.
Silicon Alley has yet to announce a winner of the ‘Create Twitter's Revenue Model' contest, but when it does, the successful idea will be emailed through to Twitter CEO Evan Williams.
Click here to read some of the best competition entries so far.
Author: Brian Tarran