Angel investor Ron Conway in on stage at or Real-Time Stream Crunchup even. He has the top 10 monetization opportunities in real-time data — like David Letterman’s lists.
Counting down:
10. Lead generation
9. Coupons
8. Analytics
7. CRM
6. Payments – If I was at PayPal, I would be looking at this.
5. Commerce
4. User authentication – Corporate accounts want to pay.
3. Syndication of new ads – Twitter itself could just syndicate. Multi-billion.
2. Content advertising and advertising context and display
1. Acquiring followers
There’s at least $5 billion of monetization right there — at least, Conway says.
[photo: CC Brian Solis]
Looks like a great list to me. I like No.1 and No.10 … Acquiring followers/ tribe is important
me too, i like 1 and 10…lead generation is particularly interesting to me
I don’t see how no. 3 will work without no. 8
I like the acquiring followers idea. It’s really smart. Companies are already using Twitter to post friendly style ads. The only problem is, the user needs to follow them in order to appear in their stream.
Twitter would just be charging to let companies automatically acquire followers and appear in their stream. Sort of like the Digg ads—disguised as regular content.
Genius!!!
Lead generation is smart too! Because, like I just mentioned, companies are using Twitter as advertising but they don’t have to pay anything!
I agree!
“10. Lead generation”
All a company would really have to do is filter company names out of twitter and sell Twitter coupon @ responses to the companies.
Where company A would pay X fee, and as a result 1,000,000 people that mentioned the company on Twitter would receive a coupon code for a small savings. If the company doesn’t do online coupons, they would receive a tiny url link to a page where they could print out a coupon with a UPC and SKU.
It would be that easy.
The problem with these monetization opportunities is that they are TOO OBVIOUS. Everybody knows how to do this and the programming is far too easy.
Grepping Twitter feeds with the API and storing the stuff in a DB is childsplay.
Nobody can build brand recognition with such services, because they are retarded to implement. The companies eventually figure out that they can get a developer or 2 out of IT and do it all themselves, and hook it into their own reporting tools.
It’s a no win situation. It’s just too easy now adays.
You really do have to be original and good. There is no free data money. These are the same lies that fueled web 2.0 and it’s economic disaster area that we see the remains of today.
“It’s a no win situation.”
Let me clarify,
A. Company Provider invests a million dollars to fuel it’s child clients.
B. Child clients drop the service in order to do it themselves, because it’s too easy, and because they want to integrate with their own reporting tools, and scripts.
Result: A’s startup money is lost and A’s VCs and investors end up looking like retards for believing the hype.
It will be interesting to see how this list develops in the the coming months.
This might be all mute since Twitter seems to be running like molasses this morning, can’t build much of a business if the platform isn’t working half the time. I know, since today is the day I decided to launch my little Twitter tool – just my luck – must be all that Real Time Stream Crunch Up traffic
Hey GED, it’s “moot.”
That’s a great list. I agree with Chris. Whatever they do, needs to be hard to replicate. Twitter has enough backing to pull something big. Hell, why not just do all 10?
- James F.
Owner, TwitterBackground.com
Combining #1 and #3 is going to be a killer service like good adsense, if twitter is not going to do it, whoever does will become a big winner in this new web era, and we (suresome.com) will definitely take on this challenge.
“6. Payments – If I was at PayPal, I would be looking at this.”
What a profound statement. You are so far ahead of the curve, ron.
Can’t wait to see how many millions you blow on real time crap. You should have quit after Google, pal
like letterman’s lists, i assume this is a joke? this list is…unimaginative at best. it’s just a list of areas in online technology. whatever happened to giving a detailed answers like, ‘twitter’s ability to capture real time conversations gives customer facing depts (mktg, cust serv, sales) key insights into issues in advance – this can all be done thru existing crm apps’
no2 is by far the most important and valuable.
Very valuable. Thank you!
Bysshe’s list of monetizing real-time data:
1) Sell stuff. If I was at Amazon I would look at this
2) Blackmail. Cache and carry!
3) Advertise. Captain Ron = Captain obvious
4) Insurance risk adjustment in real time as probabilities change
5) Short/Long financials: Impact of news on the market
6) Bounty Hunting/Stalking/Employee tracking. Track your prey in real-time
7) Brand-awareness research. Hello, Nielsen? You there?
8-10 are my secrets.
Now, someone go make billions and kick me back a beer one day.
Hi
Can someone add a bit more explanation to his list? I have made a start..
10. Lead generation, an example ?
9. Coupons
Is this businesses being able to target offers/promotions to a specific audience (by time or location)
8. Analytics
What’s the revenue from this? Paying to learn more about your followers?
7. CRM
Having clients as followers ?
6. Payments
Using Twitter to settle smaller bills.
5. Commerce
4. User authentication – “Corporate accounts want to pay.” ..pay to check who a follower is?
3. Syndication of new ads – Twitter itself could just syndicate. Multi-billion.
2. Content advertising and advertising context and display
1. Acquiring followers – does this mean people will buy followers?
Cool, our new targeting technology uses these social real time data for CRM, eCommerce, analytics and advertisement. I think Ron is right…:-)
What a load of trash. This guy must be living in some time warp from 2000. Nothing that he mentions is new or looks like it is really growing.
I am really unable to understand how do coupons or acquiring followers would monetize… Anyways for sure advertisement is going to fetch something, but what about the other things.