Not quite! Because of the nature of Twitter, the short answer is you really CAN’T monetize Twitter. At least not directly. Twitter is by nature a social beast. It’s about building relationships, and creating personal connections. When you go in and just start using it to try and make a buck, believe me your Twitter followers notice, and they will not like you very much. They will most likely even unfollow you.

Which begs the question, if you can’t make money on Twitter, what’s the point? Just because you can’t monetize Twitter directly, for example sending out mass links to products in the hopes of a sale, it doesn’t mean it can’t be monetized indirectly.

You are building a relationship with like minded individuals. If you use Twitter in the way that it was intended to be used, you will be establishing yourself to your followers as a real person just like them. You will be allowing them to relate to you on a personal level, and get to know YOU, not just your business or product.

Guess what that means the next time they are in the market for something you provide? You will be the first person they think of purchasing from! Your product or service will get first crack at providing them with the solution they are seeking, simply because they now feel they KNOW you and can TRUST you. Two key components in any successful business transaction.

Does that mean you can’t let your Twitter followers know about your products and services occasionally? Of course not. In fact, with all your Twitter efforts, all roads should lead back to you, your website, and your business. For every 10 – 15 retweets you send out of other followers stuff, you should send out one of your own related to your brand or business. And it should send folks back to your website.

Your Twitter profile should have a link back to your website. And if you are using your Twitwall appropriately, that too should lead back to your website or business. The key is to walk the fine line between promoting your business, and building those relationships. The relationships are paramount to success way more so than spamming your followers with ‘Buy This Product Now Links’. The relationships are what will increase your revenue in the long run.

So remember that sometimes it really is better to beat around the bush a bit. Build relationships, connect with people, provide value that doesn’t cost them anything. Direct marketing and sales is a flop on Twitter. Just don’t do it. Your followers will thank you and love you all the more for it!

Whether you like it or not, major companies are now using Twitter as a branding tool and to communicate with their customer base. Some of them don’t have a clue, and only Tweet their sales links, or promotions that serve only them. Others though, really ‘get’ it, and are using their Twitter profiles to really build a reputation for themselves and truly connect with their clients and customers.

Some of the best examples of major brands that use Twitter in a savvy manner are Starbucks and Dell. If you take a look at their updates, you will see that they truly interact with their followers. Answering questions, retweeting, ASKING questions, and just really engaging with their followers are all excellent ways to make them feel connected.

This is the very same thing you should be doing with your business when striving to brand yourself. Ask questions. Answer questions. Give feedback, offer insight, interact. Don’t just post random marketing messages, and links to your products. Don’t fill up the time line with a ton of links and nothing of value. And don’t forget to support your followers and their own endeavors by retweeting those things you find of interest, or valuable, or that you believe in.

Your followers will appreciate you for taking the time to help them promote their own stuff, or for mentioning them or something inspiring they said to your own follower base. It makes them feel good, and they will then return the favor for you. Think of the relationship between you and your followers similar to that of a family. What you give and put in, you get back ten fold.

Twitter is such an amazing way to build a name for yourself in your business or industry, when used properly. Take the time to study successful Tweeps who are using it in inspiring ways, and model your own efforts after them. You will soon be amazed at the results and response you get! Happy Tweeting!