The Twitter Money Estimator allows you to calculate estimated earnings from your Twitter account if you believe you are an influencer, based on your engagement and number of followers.
It is harder for the average Twitter user to reach influencer status than it is for those on the more visual social media channels, such as Instagram and YouTube. There is less of a marketplace for non-celebrity Twitter influencers to match up with companies outside the platforms. One of the reasons for this is because Twitter has its own advertising program, Promoted Tweets, where advertisers can simply pay to have their own tweets reach a wider audience than just their company’s followers.
There are still some opportunities for Sponsored Tweets, though. Like all forms of social media, there is no better-targeted Twitter audience than the followers of a highly influential tweeter who matches your target niche. There is even a website called Sponsored Tweets to assist with this matching process (although as Penny Hoarder discovered, you do sign away many of your rights, including giving them the rights to update your profile and tweet on your behalf).
The specialist influencer marketing platforms, such as Hypr and Tapinfluence, are another option. They provide a marketplace where, if you meet their “influencer criteria,” they will add you to their databases and visible to brands looking to make Sponsored Posts.
As with other social media channels, Twitter influencers get paid more if they have both a high engagement rate and a high number of followers. Brands know how easy it is to buy Twitter followers who never take any genuine interest in an account’s tweets. Hence they are only interested in somebody with genuine followers who engage in some way with your tweets.
Twitter engagement rates are surprisingly low. The average tweeter has an engagement rate of only 0.5 - 1.0%. Twitter engagement is defined as including any Likes, Retweets, Replies, @mentions, Follows, Profile clicks, Permalink clicks, Tweet expansion clicks, and Link clicks. However, it must be remembered that for many people a tweet is ephemeral - it’s here one minute and then disappeared down a page of tweets soon afterward. Therefore it is no surprise that most people see only a small percentage of the tweets in their feed, and have no opportunity to interact with most of them.
Our Twitter Money Estimator / Calculator takes these factors into account. If your Engagement Rate is less than 3%, you can expect to receive a substantially smaller payment from brands (if anything) than if you have a higher engagement rate, even if you have more followers.
It also assumes that you are a comparatively “normal” microinfluencer, who is engaged, active, and respected in your personal niche of interest. If you are Katy Perry or Justin Bieber, you will, of course, earn considerably higher than what our calculator predicts. Celebrities always have additional “wow factor” over other micro influencers, yet for many brands, it is debatable whether these celebrities would influence more people into buying products than a well-targeted micro-influencer could.
So What Do You Need to Do to Earn Money on Twitter?
Suppose you have entered your Twitter statistics into our Twitter Money Estimator / Calculator and been somewhat disappointed in your potential earnings. What can you do to improve your figures and turn yourself into a Twitter influencer?
1. Specialize in and Dominate a Niche
You might like to tweet images of what you had for breakfast or your kids’ latest achievements, but you are unlikely to become an influencer by doing so. Twitter influencers know their niche, know their target audience, and know the types of tweets that will enthrall and interest that audience.
Donald Trump is a master at this. His tweets tell his supporters what they want to know, while at the same time infuriating his opponents. While, because of his role as President, people may still take an interest in what he has for breakfast, interest in such tweets would diminish before long, and his supporters would look elsewhere for their Twitter fixes.
In this sense, Twitter is no different to most other social media channels. Brands are only interested in sponsoring tweeters who build up a dominance with a particular interest group that closely matches the buyers of the brand’s good or service. Thus they will select influencers that best serve that target market.
2. Build Your Following ... Naturally
While brands are only interested in engaged tweeters, they are also unlikely to sponsor people who have little outreach. Having a large number of followers is also important to Twitter success.
However, your followers need to be the “right” kind of followers. While you can’t necessary be too picky by who chooses to follow you, you do need to avoid the cardinal sin of buying followers. Ignore the snake oil invitations you receive, offering to sell you Twitter followers for bargain prices, or indeed any prices. They are all worthless!
Ideally, your followers will choose to follow you because they already know of you, and value the messages you tweet. If this is the case, they will clearly be your ideal audience, and if you target your tweeting, avoiding the scatter gun approach, these followers should have enough similar interests to be of value to a brand.
3. Provide Value to Your Audience
People have to have some reason to follow you. You need to provide them with engaging, interesting content. You might be witty enough to simply tweet one-liners and engage your audience, but most tweeters share something more meaty with their audience: links to blog posts, photos, videos, quotes or links to something else interesting in your niche.
It is possible that you could succeed as a content curator, collecting and disseminating valuable content in your niche from across the internet. Whatever you do, you have to give people a reason to follow you (apart from simply hoping that you will follow them back).
Some people become influencers because of unusual content they create and share. Kris Sanchez saw his popularity skyrocket when he began sharing what he called UberFacts with his followers, to the point that he is now an influencer making $500,000 a year on Twitter - all because of trivial items of information!
4. Engage With Your Followers
Unless you are a celebrity who has gained your fame offline, you do not want to be seen as purely a broadcaster. You have to actively engage with your followers. Although there are differing views as to the exact ratio you should use, experts believe that you should share or retweet 2-4 tweets for every tweet you make that promotes your own material (sponsored posts would count as your own for this calculation).
If somebody replies to your post, make a point of commenting back. Start a conversation. Like other people's good tweets. @mention any of your tweeters when they have shared your material or done something of note. In a nutshell, treat your followers as a community and act as you would in a physical community of friends.
5. If You Want to Earn Money From Business, Think Like a Business
To succeed in business, you need to be organized and disciplined. To succeed as a Twitter influencer, you need to be the same. You’re not going to be treated very seriously on Twitter if you keep the Mr. Egghead profile picture, for instance. You need a well-written Twitter bio that intrigues people.
Because most people only look at a relatively limited number of the tweets that arrive in their inbox, you need to determine the precise times when your target audience is online, checking their Twitter accounts. Schedule your tweets so that they arrive when the majority of your followers are online. One way of doing this is to use an app like Hootsuite or Buffer to help you schedule your tweets. These apps are also useful means of finding other people's quality tweets worth retweeting and sharing with your followers.
You need to give careful consideration to how you construct your tweets. You should think about the exact wording you use, determine relevant hashtags that will help you attract new followers, and find the best images to use (and statistics show you should include an image in your tweets wherever possible). Serious tweeters often set up a spreadsheet with the necessary information for them to use when they compose tweets.
When you eventually gain traction with a high following and good engagement, you should begin to think about what you can offer any brands who may want to sponsor some of your tweets. If you reach this point you are on the way to tweeting success, and hopefully, eventually the financial success to match it.