The question of social marketing revenue

Twitter has taken the first steps in creating revenue from its social networking site, according to an exclusive interview on Reuters UK.

It hopes to expand its revenue by offering certain customers an expanded range of services, which includes commercial accounts in which corporations and other types of businesses pay a fee to receive an enhanced version of the social media marketing tool.

However, James Drake-Brockman, show director of Internet World, questioned what the revenue possibilities were for such sites and asked where firms could make money, noting that he did not have an answer to these queries.

"Is it about creating enhanced groups that you can sell as an opportunity to people so they can use it like a micro-social networking site?" he asked.

Mr Drake-Brockman went on to ponder whether contextual advertising or what would generate revenue.

Biz Stone, co-founder of Twitter, believes that the site will create revenue as companies will pay for its services if they believe they are valuable.

According to Nielsen, unique visitors to Twitter increased 1,382 per cent year-on-year, from 475,000 unique visitors in February 2008 to seven million in February 2009.

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