I recently had a discussion with the CEO of a 59 year old ad agency in New York who said, “I know how to generate income from a $35,000 print ad but how do I generate revenue from social media?” That is the big question that all small-to mid-size ad agencies are facing.
If you have been a follower of Twitter you know that even though the service has exploded with growth, they do not have a business model to generate income. Silcon Alley Insider, a new business site that covers the technology, media, and communications industries, decided to Create Twitter’s Revenue Model Contest and just recently named a winner.
I’m glad to share with you that it was an ad agency, the Denuo Group. They are a boutique non-traditional ad agency serving clients such as AstraZeneca, Hewlett-Packard, Procter & Gamble, and General Motors.
You can view their winning solution through this link: Denuo Group’s Twitter Business Model Presentation
I’ve also included links to 11 Business Plans For Twitter that Alley Insider identified as some of the contest’s best:
It is good to see initial thoughts to tools such as Twitter, Facebook and other social media tools, just how the can become viable and profitable businesses and the evolving business model that will be needed for ad agencies.
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Michael Gass, agency new business consultant, primarily to small and mid-size advertising agencies, utilizing both traditional and new media tools.
