Adam Bain is the Revenue Chief of Twitter. With his 250-member team, Bain continually strategizes the best ways to keep Twitter profitable. His teams efforts are working. Jessi Hempel, writing in Fortune, cites Twitters ongoing success (Twitters Adman Delivers 12/3/12, p. 48):
When Twitter CEO Dick Costolo recruited Bain in August 2010, the microblogging platform was the black sheep of social media sites. While LinkedIn and Facebook were building robust advertising engines in preparation for their much-anticipated initial public offerings, Twitter had a $3.7 billion valuation but no obvious business model. Bain eschewed banner ads in favor of messages that showed up directly in the stream of tweets. . . . With 140 million active users, Twitter has now become a staple for advertisers. . . . Whats more, the company launched mobile advertising in February and already brings in more revenue from that than from desktop users. (p. 40)
As is so often the case, a mediums success is dependent on its advertising revenue. As much as we might love these various social-media sites, if monetization doesnt eventually occur, they will disappear. Bain has obviously found the right formula for success.
Some folks remain amazed that ads even work in cyberspace. Lets face iteven if you never click through an ad, if you are exposed to it enough, the companys name will stick in your head. If you later develop an interest in the product field, you will tend to remember that which you have seen the most, or even just most recently. And for those moments when you decide to click, you have instant information, and now you are potentially a new customer.
I suspect that little bird tells us lots of things.
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