How can I monetise Twitter Spaces? As an entrepreneur, that is a question you should have pondered by now. In this article, we will look at how to monetise Twitter Spaces.
Whatever you want to call it, it can be your radio, podcast and still accommodate your Tweets. How cool is it that you can now converse with all your tweeting buddies and hear their voices? The best part is that you can earn money while doing it.
With the lifting of the Twitter ban, it is clear from the Tweets circulating the internet that Nigerians are indifferent, given that they have been using VPNs for some time. However, it is a massive relief for brands and businesses because they can now resume marketing their products without fear of repercussions.
Do you prefer learning through video? Watch the full video of how to monetise your Twitter Spaces. Subscribe to our channel to get business ideas and insights.
So, Twitter first launched Spaces in November 2020, but it was limited to only users who had 600 and above followers. Then, in October 2021, it finally let everyone create Spaces. A privilege Twitter fans believed they should have had access to a long time ago.
Even though the return of Twitter isn’t a big deal in the country, the introduction of Twitter Spaces to all its users is a welcomed development, and the adoption is finally picking up. Conversations on the platform range from finance, businesses to start, relationships to 2023 elections. Pretty much anything you want to talk about.
If you are not familiar with the newly added feature, let me enlighten you. Spaces is a new way to have live audio conversations on Twitter. You can also meet new people, share ideas, and network.
How To Monetise Twitter Spaces
Before you question the possibility of making money on Twitter Spaces, keep in mind that Twitter has over 206 million users. This indicates that you already have a ready market. You can either Tweet a link or send direct messages (DM) to random people to invite them to your space.
Here are five ways in which you can monetise Twitter Spaces:
1. Grow Your Twitter Account
So, while live audio on Twitter Spaces is open to the public, only those who follow you will see it at the top of their Twitter account. Your followers will also know if you were a co-host on someone else’s live audio.
What this means is that you need followers to market your space. If you already have a large following, this will not be necessary.
You can increase your followers by doing the following:
- Request follow-backs (Follow-for-follow)
- Participate in chats and live conversations to get noticed
- Utilize hashtags
- Post visual images
- Tweet frequently
- Comment on Twitter threads
- Retweet and Quote Retweet
Let’s not get off track here. Remember, we’re discussing how to monetise Twitter Spaces. To make money with Twitter Spaces, you must first learn how to use it. Test the waters with a couple of audio sessions with friends. Get used to it and participate in other conversations to learn the ins and outs.
2. Test-run Your Twitter Spaces
To start a Space:
- Long press on the Tweet ‘compose’ icon on your home timeline
- Tap Spaces icon (multiple circles forming a diamond shape)
- Add two co-hosts
- Then go live and add up to 10 speakers, changing them as you like
Making money on this platform include the following:
3. Use Ticket Spaces
Oh, you’ll love it, but there are a few rules. This will help you understand why points 1 and 2 are necessary. To make use of Ticket Spaces:
- You must have a minimum of 1,000 followers.
- You must have hosted at least three Twitter Spaces.
- You must be at least 18 years old.
Here’s the fun part: you know how people reserve a seat to see a movie at a theatre? People can only enter your space after they have purchased tickets. You decide how many tickets to sell, but you can only keep up to 97 per cent of the proceeds. Of course, Twitter has to make some money. As a creator, you get paid through your stripe account.
4. Product Promotion
This method, unlike Ticket Spaces, is indirect but simple. While Twitter Spaces will not pay you directly, you can direct listeners (everyone who tunes in) to your website, blog, or social media pages (where your products are).
You host a Space within your niche (the topic you’ve chosen to discuss). It could be anything as long as there are listeners and the content is compelling enough to grab their attention. Then, during your conversation, you promote your products and direct them to your website.
There should be a good reason why they should take out their precious time to visit your site. Sell your market well. If the product you are selling aligns with the topic of discussion, it will make for an easy sell. You can also add giveaways and bonuses because it will motivate them.
5. Tip Jar
So this is precisely what you’re thinking. Just as you would tip someone for a well-done job, listeners in your space will do the same.
So you didn’t charge for it, but if they liked the content and want more, they can help the ministry by giving to the course!
By clicking on the tip jar icon made available on Twitter, you can monetise your account. There you have it. All that you need to make money from your Twitter Spaces. So, go and rein in that money!
To direct customers from Twitter Spaces to your products, you will need an online platform. Would you like to start an e-commerce business where you can showcase all of your products? Watch our video on How To Start An E-commerce Business In Nigeria.
You can also purchase our book, The 35 Booming Business Ideas And Step-By-Step Guide On How To Start Them.
Do you have an active Twitter account? Do you make money from it? Let’s have your thoughts in the comment section.