If you’re a normal twitter user who tweets about what your cat does or what you had for breakfast, then this shouldn’t bother you at all. However, if you’re a business that relies on this social media platform then this will definitely pique your attention. Twitter is on the lookout to earn more revenue and they might have found a way to do that.
According to a survey carried out by the social media giant, they are asking users whether they would be willing to pay for certain premium features. These premium features would include analytics, news alerts on a timely basis and also a number of tools that aid in composing tweets via TweetDeck.
If you haven’t used TweetDeck, it’s basically a dashboard that application that allows you to manage your twitter accounts. Acquired in in 2011 for $40 million, TweetDeck has proceeded to become one of the most popular third-party Twitter clients and has remained popular with power users of Twitter. The only thing perhaps to complain about was that there was no major update for the app.
Currently TweetDeck is free and it allows users to add essentially unlimited columns to its interface to view your notifications, timelines of your feeds and also tweets under specific hashtags, all in one place. According to Twitter, this may all change and users may be charged upto $20 for using the advanced features of TweetDeck.
Why would Twitter do this?
These are the features that would most likely appeal to marketers who are on the constant lookout for trends among consumers, journalists on the lookout for a particular topic etc. These are the areas that Twitter stands to gain the most income from and thus, it makes sense from their point of view to implement these features.
If you have been on the Twittersphere for a while, you’ll probably know by now that Twitter’s popularity as a Social media giant is waning. From the departure of Twitter’s their Chief Technology Officer, to the departure of their Chief operating officer, and other team leaders, Twitter does seem to be facing harsh times. The company also attempted to sell itself off to SalesForce but that was to no avail. As last ditch resort, they also reduced their staff and dropped businesses such as Vine. Even though its user base grew by 4% In 2016, the company also reported a loss of almost £100 million in the last three months of 2016.
Is it really worth it though?
If Twitter is to pitch their premium features, they would also be competing against Facebook and even Instagram, both of which who have their own platforms for businesses. If you are a social media marketer, you wold already know that Facebook already provides marketing analytics and tools for free. You can create your business on Facebook for free and use it to connect to people to increase th growth of your business. The only charge incurred is when a company wants to increase their reach via sponsored posts and content created by the business on Facebook.
Instagram is essentially similar in the way they operate. Using their platform, businesses can spread awareness of their products, increase product sales, increase mobile app downloads and even increase walkthrough for brick and mortar stores. If you have been scrolling through your Instagram feed and you’ve seen posts with the text “Sponsored” under it, those are the results of marketing via Instagram. Again, you can start a business profile on Instagram for free.
As you can see, these features are available for free so unless you’re aiming for a very specific market with Twitter, the charge applicable here is questionable. While it is interesting to see how this new direction of Twitter would be effective if it does come to pass. Implementing premium features for Twitter could indeed help with increasing the company’s revenues. The question is, to what extent would it increase revenues?