Categories: Uncategorized

The LAB: Monetizing Twitter with Attribute Dependency (February 2009)

Venture capitalists could increase the value of their investments by applying a corporate innovation method to those investments.  Take Twitter for example.  It just received its third round of funding – $35 million.  Yet it has no revenue, no business model…just the promise of such.  It is the perfect time to innovate.

I decided to take the challenge to create new concepts for the Twitter platform that have the potential to earn money.  Others are chasing this, too, including the Twitter management team.  It reminds me of the early days of Amazon when many (including me) wondered if the company would turn a profit.  The difference between Twitter and Amazon is an important one.  Amazon started with a business model in mind.  From there, it had to achieve economies of scale.  Twitter started with none.  Economies of scale do not matter until it can define a viable business model.

Let’s see how innovation can help.

I used the Attribute Dependency template of Systematic Inventive Thinking, a method of innovation that works like no other I have found.  Attribute Dependency (or AD for short) differs from the other templates in that it uses attributes (variables) of the situation rather than components.  It is a powerful tool and more challenging than the others in some respects.  It yields amazing results.  You start with an attribute list, then construct a 2 x 2 matrix of these, pairing each against the others.  Each cell represents a potential dependency (or potential break in an existing dependency) that forms a Virtual Product.  Using Function Follows Form, we work backwards and envision a potential benefit or problem that this hypothetical solution solves.  Innovation!

Let’s start with my attribute list:

  • number of people followed
  • number of people following you
  • number of tweets received per day
  • number of tweets sent per day
  • length of message sent
  • type of message sent
  • demographics of sender
  • relevance of message received
  • emotion of sender while tweeting
  • sensation of sender while tweeting
  • current activities of sender
  • who the sender is with
  • location of sender
  • why the sender is at that location (context)

You can download the actual matrix I used, including my handwritten notes, here.  From this, I created several interesting dependencies, and then grouped them together to create new service offerings for the Twitter platform.  Imagine a new premium subscription level of service called Twitter Smart Sense.  It would do the following:

1.  Twitter Tagging:  Twitter scans every tweet and tags it based on the linguistic syntax within it.  Tagging is based on tense used in the tweet (past, present, future), demographics of sender (gender, status, age, etc), current location, status with the receiver, and state of mind (happy, sad, bored, excited, etc).  The receiver can then opt in or out (filter) messages based on these tags.  For example, “I want to receive tweets only from happy-minded females in Pittsburgh who are family or friend status thinking about what they are going to do in the next 24 hours.”

2.  Auto Complete:  Twitter fills in details of your tweets automatically based on your location, time of day (as a proxy of where you are – work, home, airport, etc).  This is like the auto-complete function in certain Windows applications.  It remembers the nature of your previous tweets and “nudges” you on what to tweet about.  It does the thinking for you.

3.  Sender Tagging:  Imagine a Twitter appliance (iPhone app?) that allows you to pre-tag your tweets with your current mood, geo-location, demographic profile, etc.  You have the option of sending this out to a specific set of receivers based on how the tweet is pre-tagged.  This helps match the tweets to those you are following who are most likely to be interested in it.

I invented these three concepts using only a small sample of cells in the matrix. I invite readers to use the same matrix (or create their own) and offer their own ideas.  The key is to select a cell in the matrix randomly, then imagine the new dependency.  Think of it this way: “As Variable 1 changes, Variable 2 now changes, too.  How would that work?  Why would it be useful?  Who would think that was useful?”  Using Attribute Dependency takes some practice, and this exercise is a good way to start.

Many think of Twitter as “life streaming.”  I see it more as “relevance streaming.”  That is where the money is.  The option to send and receive tweets that are highly targeted and meaningful raises the importance of Twitter in our daily lives.  This is certainly the direction the Twitter community is headed based on the steady stream of new Twitter applications.

To follow me on Twitter, click here. (I am in a good mood…I promise!).

boydadmin

View Comments

  • Twitter has been making a large buzz in the web world for almost 2 months now.
    About one month ago I started using it much more agresively. I am now hooked!
    I enjoyed reading about your innovation ideas for developing greater trageted tweets. I am finding more and more great content and marketing from those who are marketing others and not just themselves. Also the innovation and sharing of ideas increases the pool of knowledge.
    I view Twitter as a TRIZ resource. Someone has alredy mastered the process, Twitter is how to find them and innovate the solution to fit your needs.
    My twitter - http://twitter.com/TeamBuildingNY

  • I had the great pleasure of meeting with Bob Johansen from the Institute for the Future. They have forecasts that include this very environment of active, geopositioned, relevant streams, or filters.

  • Thanks, Edward. I've met Bob, and I have always been impressed with IFTF. I'm not surprised to hear they have this mindset in some of their work. (Makes me wonder if they are using a systematic method!) The message for the team at Twitter is they need to embrace groups like IFTF and start piloting revenue models...before someone does it for them.

  • I see the benefit of using AD with Twitter, but did not understand how do you monetize the services.
    Who needs the twitter smart sense? Who will pay for them?

Recent Posts

Innovation Behavior

Innovation is a skill, not a gift.  Top organizations drive growth by nurturing and investing…

3 months ago

Should you learn TRIZ? – Yes. ….and No.

Are you in the world of problem solving?  Is problem solving a skillset you have…

3 months ago

What Lies Ahead in 2024?

5 Data-Driven, Customer-Centric trends we’ve identified This is not just another conventional forecast. Over nearly…

3 months ago

Fork or Chopsticks – Which Innovation Tools Do You Use?

Imagine a chef, who only uses a spoon. Imagine a dentist, who only uses a…

4 months ago

The Moat Mentality: Exploring New Frontiers in Innovation Methodologies

In investing and business strategy, we often speak in terms of moats. Warren Edward Buffett…

4 months ago

Was it a Breakthrough or an Adjacency?

This year, P&G’s Febreze celebrates its silver anniversary as a brand. But not all 25…

4 months ago