We made some adjustments to Tempo last week, most of them below the surface, but I figured I’d mention two of the visible changes.

We’ve added a field to the Account page called Seed Tags, where you can list any tags you want to always be visible as default options for time entry on any project you create. This is aimed at some of our power users who work with multiple individuals and want to work with a common set of tags.

We’ve also implemented a request for additional details on Blinksale invoice line item descriptions. When you generate an invoice with one line item per entry you’ll now get the name of the person who entered the time and the date as well.

The useful acts_as_network plugin for cleanly representing network relationships in rails has officially been moved over to GitHub. GitHub will be the official repository from now on so we won’t be updating the SVN repo on rubyforge any more. Check it out!

http://github.com/sjlombardo/acts_as_network

Over a year ago, when we were first putting together PingMe, a system not entirely unlike Twitter, we had a pretty good idea what the real potential was for a revenue model and how valuable it could be.

A few weeks back we posited these thoughts in public because the discussion of Twitter's likely potential for revenue keeps coming up in the blogosphere and it seems like everyone is missing the obvious: sticking small, meme-sized ads in the tweets themselves, based on context and relationships, and exploiting the nearly unbounded impression space. Nice to see somebody agrees with us about the context part of things, even though I think ReadWriteWeb is getting the means wrong.

I'm pretty sure that if Twitter started sending direct advertisements to their users, as opposed to embedded ones, they'd chase their users away to the clone services that are starting to emerge and which will mature. I don't think people will pay to subscribe to Twitter to escape the ads; when a service has been free for almost two years (a long time on the Internet), that kind of conversion is probably not in the cards (although not impossible). The potential revenue in just embedding ads is so high that I doubt they'd risk angering their user base with direct ads.

On top of that, it was a few months ago that some Tweets were arriving on my phone with an embedded ad for Twitter itself at the end of it, signaling, IMHO, that that would be the ad space in the future.

I should mention that since we started using our direct-embedding method in PingMe messages to briefly mention our other products and brands, we've yet to have any complaints from our users. You can't ask for better than that (well, aside from goal conversions).

Over the past few months we've been getting a lot of great feed back from users of Tempo, we've been squashing bugs, and we've been working really hard on a number of new features and service integrations. We've also been continuously striving to streamline the interface and make it even easier to use.

This Sunday, May 11th, from 9pm to 12am Eastern, Tempo will be offline while we perform the latest batch of updates -- this is a big one! Stay tuned...

P.S. During the same time period, PingMe will be unavailable for system maintenance -- no pings will be sent and the web interface will be unavailable.

Pay close attention – we’re about to hand over an idea that could make Twitter…(drum roll, please)…ONE MILLION DOLLARS.

We saw this today on Tech Crunch (which has since been refuted):

Occasional ads in the Twitter timeline … seems like the only real way to monetize Twitter, aside for premium subscriptions.

It’s an interesting idea. We have long thought that the destined revenue model for Twitter is a new means of advertising where miniature ads will be injected at the end of Tweets.

Your messages on Twitter are restricted to 140 characters. This leaves 20 extra spaces, possibly a lot more with short tweets, before hitting the SMS limit of 160 characters. That reserve is perfect for advertising. We’ve been calling it meme-vertising and we’ve been doing it with our own service PingMe for well over a year – we use it to advertise our own services.

Here’s how it works – we reserve 30 characters in every message that goes out, just enough space to jam a quick meme or ad in there. Anything goes, from Keep Time with http://KeepTempo.com to “Real men of genius,” if Budweiser decided to buy a block of impressions.

Unconvinced? Twitter’s ad space would be virtually unbounded because the impressions are based on relationships, not page views. Consider that when Michael Arrington sends out one tweet alone, it could provide 13,104 impressions. In the end someone has to pay for a service, especially given the usurious cost of sending and receiving SMS messaging, and nothing stands a better chance of getting Twitter into the black than this virtually umlimited adspace that they possess.

We suggested last week that there’s also money to be made offering business-level service and there is certainly revenue potential with putting ads in the timeline. Yet, I would wager that many Twitter users access the service with a third-party API client and wouldn’t see them. I certainly don’t think that Twitter would abuse their relationship with users by sending pure spam-tweets to your phone or device. We frankly can’t see a better way for Twitter to make loads of money than to use the enormous advertising potential already present in its tweets.

Is it intrusive? To a degree. Although, in the year that we’ve been running PingMe we haven’t had a single complaint, and I think you can see here how it can be done without being an eye-sore:

Note: we haven’t yet taken on third-party advertisers for PingMe, but at some point we’d like to. Let us know if you’re a local bar that might like to have “1/2 price drnx at Moe’s 6-8” show up at the end of a reminder about “Happy hour with Frank tonight at 5.”

We’re on Twitter, too, follow us at: @billymeltdown and @ocskills