A Twitter here and a twitter there. If you spend ten minutes online, you are sure to find some mention of Twitter. It has found its way into newsrooms and comedy routines as well as your inbox. Twitter is growing and FAST.
With all of the hype around Twitter, there are some who claim that it will soon be gone or rendered useless. They site several reasons, including the fact that Twittter has yet to monetize itself and that it will simply be forgotten about once the hype goes away.
Let's remember that the same has been said about almost every successful website at one time or another. Ebay, MySpace and Facebook were deemed "fads" by critics upon their early success. MySpace arguably was the only real fad of the bunch. But was it really a fad? MySpace was very popular for a very long time and still has many active users.
So, with all of this unchecked growth and no real business model, one could easily deduct that Twitter is doomed to fail. If you fell this way, you are not alone. Many speculate that Twitter will fail.
Here's a newsflash: Twitter is not going anywhere anytime soon.
Sure, Twitter is making its developers no money at this point. We need to remember that many great websites started this way. When you first launch a new website or idea, potential advertisers could care less about you. But they soon change their tune once you have thousands or tens of thousands of visitors per day. Suddenly, you have advertisers knocking down your door begging to advertise on your website.
At this point in the game, Twitter surely has their choice of advertisers. I wouldn't doubt that Yahoo, Microsoft and even Google have contacted Twitter with ideas to monetize the site. The ball is in Twitter's court, and if you ask me they are doing everything right. Instead of jumping on the first business model that is thrown their way, they are sitting back and letting the big boys compete over them.
Most of us understand the way a capitalist society works. Supply and demand play a large role in the regulation of prices in the open market. Twitter is in high demand and their is a short supply of it (they have a Twitter monopoly at the moment). This means advertisers are willing to pay obscene amounts of revenue to bid out other competitors.
In a recent interviews, Biz Stone has explained that Twitter is currently considering various monetization schemes. It would be a safe bet that we'll soon see such a plan in action.
You are missing the bandwagon if you are involved with any type of affiliate marketing or selling anything on line and not using Twitter.