Selling to your Twitter audience via BuyReply

One of the most powerful features of BuyReply is the ability to sell to your Twitter followers within the stream, or from the stream. This feature of BuyReply allows you to monetizes your Twitter following at a transactional level. There are two ways that you can monetize your audience using BuyReply.

Top down (retweet to buy / micro-cart link):
Sell to your Twitter audience within the stream by promoting a re-tweet to buy call-to-action:

 

Bottom up (tweet to buy):
Enable Twitter users to transact by sending a tweet containing your twitter handle and a BuyReply short code:

BuyReply manages your product inventory and handles the checkout process of any sales that originate from your tweet to buy or retweet to buy Twitter.

In this blog you’ll learn how to sell via Twitter using BuyReply. If you don’t have a BuyReply account you can request to sign up to our $0 plan and we won’t charge you unless you make a sale. You can migrate plans at any time.

Strategic Investment

Entrepreneurs often fall into the trap of chasing after VC funding while failing to explore the strategic options that might be available to them. We have become accustomed to reading the fantasy stories posted on Tech Crunch so it’s become commonplace to believe that raising from a brand name VC is the right thing to do. The reality is that VC’s exist to provide rocket fuel when needed and their early stage funds often exist to enable their late and growth stage funds to ‘see the flop’ when more funding is needed as start-ups mature.

For all the noise around capital raising, I’m surprised how few entrepreneurs raise money from strategic sources during the early stages of their business.

Strategic sources are investments where your investor is able to benefit themselves from the products or services you create. In other words, they double up as an investor and a customer. If you were a manufacturer of tyres, would you rather Mercedes-Benz invest in your business, or a bank invest in your business? Taking investment from a source that doubles as a customer provides you with some important benefits:

  1. Feedback - There is no faster way to find product market fit than to have your investor be your customer as well. The feedback loop is fast and transparent as both companies have an alignment of interests.
  2. Credibility – If your investor is your customer and they happen to be a large trusted company or corporation, this can often bring significant credibility to your offering as larger competitors are likely to trust your product if they see their counterparts using it as well.
  3. Speed to market – If your investor doubles as your customer you can often gain traction quicker than competitors who raise funds then have to find customers.
  4. Income – If your business is going to help your investor/customer generate revenue or reduce costs, then you can generate income from your investor. If you raise from a VC this wouldn’t be possible.

Furthermore the job of an investor is to generate returns for their shareholders. Corporations often have different goals and agendas and will often take a more strategic approach to investments rather than viewing them from a purely financial perspective.

Sometimes the best scenario is raising funding from sources that are strategic as well as financial. You might want to raise from a strategic source, get product market fit, then raise from a VC. There is no right or a wrong, all I’m saying is that you should think outside the box when considering your source of capital.