Most of the Twitter addicts know its spinning money now.  It's high time for you regular Twitterers to get into serious business while spending time on social networking. The most feasible way to make money from twitter would be to get used to its tools. Use them to make the best best out of it. And how can you do that? Here are 10 convenient ways.

1. Charge for Twitter Message
Well you know your username is private and your friends can only receive your twitters. If you have important information and on time you may have a subscription-based service charging people who want to be your friend to access your twitters. A newspaper might do this to give you access to the news first. May be an blogger with online shopping deals could do that. The user will have to pay an amount per month or week to be in the know.

2. Sponsored Contest
Some of the advertisers want to run a contest via a popular twitter user in order to get feedback about their products. This can also be a strategy to create brand awareness. Get them for you. Suppose for a feedback ask What new things would the consumer like to see in the Product X.

3. Tweeting for Companies
There are a number of companies out there looking to join the realms of social media. Why not be a professional Twitter contributor for a company. The companies need professionals who are good at blogging, social media and search.

4. Paid Review
It's an idea for direct ad. But you need not suggest a product blindly. What you can do is some paid reviews. Say for instance you can do a paid review for services like SEO Services, Web hosting Services etc.

5. Micro Fundraising
Combine your microblogging with microfunding to make money.  Look for the Twestival for that.
6. Affiliate marketing
This strategy is already used by a lot of affiliate marketing people. Send the links of websites in your tweets.  Those subscribed to your tweets would be able to click on the links and be redirected to the web page.

7. Sell the Twitter apps
There are a myriad of professional applications for Twitter on web. Sell anything from Twitter analytics to Twitter CMSs such as the HootSuite (erstwhile Brightkit). The would surely like to pay for it.

8. Promote Music
There are great ideas for selling music online. Why not look for the Tra.kz. It offers an combination of a short URL service with a market place as well as a music community.

9. Ad in the blank space
At the end of your 140-character messages put an ad like Drink a refreshing COKE.

10. Twitter Consulting
There's a lot to know in twitter. This becomes easy only if someone tells you what you can do best in Twitter. If you are acquainted with the nitty-gritty of Twitter. Why not act as a consultant to companies who are looking for someone to acquaint them with twitter.

So start making money and keep feeding us with your ideas and inputs.

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by: Luke Knowles

The rise in popularity of the soon-to-be number 1 social network site Facebook is due to a combination of two things.

1. Formerly a hangout only for high school and college students, Facebook allowed anyone to join in September, 2006.

2. In May, 2007 Facebook opened up it’s network to developers.

By opening up it’s network to developers Facebook has provided a way to make money right on the Facebook web site. Something you can’t do on MySpace. The only way to make money off of MySpace is by attracting users to another web site outside the MySpace community and making money on that site.

Below is an Alexa traffic comparison of the top two social network sites. Bold prediction: It won’t be long before Facebook becomes more popular than MySpace.

Facebook Myspace Alexa
Facebook: a developer magnet

Since opening up it’s network to developers Facebook has seen a flood of new applications created. In fact, over 1000 developers are signing up every day.

Addonomics, an open analytics platform that tracks Facebook application growth and provides stock-market-style analysis of Facebook features says that as of today…

    * There are 342,015,965 installs across 5,118 apps on Facebook.
    * These applications were used 23,360,190 times in the last 24 hours and have a combined valuation of $249,800,000.
    * Facebook has approximately 40 million Unique Active Users in the past 30 days and a valuation between $10Bn and $15Bn.
    * This translates to between $250 and $375 per active user.

7 ways to make money with Facebook

In The Facebook Economy Business 2.0 outlined a few ways application developers are making money off of Facebook.

1. Selling advertising space
Facebook apps with large audiences can make a lot of money selling ad space on their page through ad networks like Lookery, Userplane and Google Adsense.

2. Sponsorship
Advertisers are lining up to sponsor popular Facebook applications. The Food Fight! application which lets you throw virtual food at your friends is soon to be serving up virtual chicken wings from a major food chain. Tyson???

3. Sell goods and services
The future of Facebook applications is utility, not fun. Facebook application Band Tracker searches upcoming concerts and links to ticket vendor web sites. Soon, it will be common for people to make purchases from their own Facebook pages.

Lee Lorenzen, CEO of Altura Ventures provided us with the following four ways to make money with Facebook.

4. Write a Facebook book
I have heard about a number in the works and that means advances/royalties for authors.

5. Write a Facebook blog
There are already a number of good ones beginning to cover the Facebook eco-system but there is room for more. Once you have an audience for your blog you can start selling ads and sponsorships.

6. Develop Facebook apps as a consultant
Good / great Facebook developers are in very limited supply and so the demand is high. I have heard of hourly rates in the $200 per hour range for folks who can architect, write and deploy viral Facebook apps.

7. Sell your Facebook app
If you can create an app on Facebook, get it to 10K to 100K users, harvest some ad revenue from it by partnering with AdBrite for CPM/CPC ads, offer Cost Per Install ads via Adonomics and you provide data to get an Adonomics certified valuation, then you will be in a position to get top dollar for your application should you decide to sell it.

At the moment, the big winners of the Facebook jackpot are application developers. The big losers might be other social networks like MySpace, if they fail to open up their networks.

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5 Killer SEO Tips to Get Backlinks

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