Wesabe’s latest feature, the ability to update your account via Twitter, isn’t likely to find too many users in the short-term. However, it’s a great marketing move that could see a fair amount of uptake over time (see note 1).
Although there are less than 2 million Twitter users, the company is currently white hot, one of the most talked about Internet companies (see Google trends below, which shows Twitter search volume is 7x or 8x that of “phishing“). So why not draft off Twitter’s hype, as long as it’s not too costly?
How it works
After logging in to Wesabe and providing your Twitter name, you then simply send a private or public message (aka Tweets) to Wesabe’s Twitter account. Wesabe then adds the expense to your cash-tracking account. You can include merchant name, expense categories, and descriptions to the transaction (see examples below).
Most common: Update via private message (no one else will see)
Less likely: Update via public message (your friends will receive it, and if you have an open feed, anyone could see it)
Google Trends for Twitter vs. phishing (9 Aug 2008)
1. Updating accounts via text message and email has much wider appeal. It’s one of the recommended items in our personal finance feature set. See our Online Banking Report on Personal Finance Features for more info.