Do you have time to search the web everyday to find the newest and coolest social media tools? If the answer is no, then you have come to the right place. (& if the answer is yes, leave a comment with your favorites). I have searched the World Wide Web for social media information all week, and stumbled upon a few favorites along the way.

Here are my picks of the week:

Twitter Ad Model:

A day before Chirp, Twitters Official Developers Conference, Twitter finally introduced their ad model, unveiling Promoted Tweets. It is essentially ordinary Tweets that businesses & organizations can purchase. Promoted Tweets will appear at the top of Twitter for certain search terms (chosen by advertisers), and will be labeled as promoted. Initial advertising partners include Best Buy, Bravo, Red Bull, Sony Pictures, Starbucks, and Virgin America.

Chirp, Chirp:

Twitter had more items to unveil at Chirp, including:

• @anywhere is now live
• Twitter plans to launch their own link shortener
• Twitter is adding places to their geo-location feature
  • Users will be able to see which Twitter users have “checked In” & when, and will be able to see opinions of the location
• Stats released by Twitter show that 75% of all Twitter traffic & 60% of all Tweets come from third party applications

Facebook Ad Update:

A day after Twitter announced their ad model, Facebook added an option to promote a Page post. For page owners, you now have the option to promote a status update or post. Directly under the post you want to create an ad for, you can select the promote link, and will only be charged if someone becomes a fan or clicks on your page from the ad.

Google Archives Tweets:
Google added a new feature to make it easier for us to search Twitter archives. As Google announced, this feature allows you to “zoom to any point in time and replay what people were saying publicly about a topic on Twitter.” You can go to “show options” on Google’s search results page, and select “Updates” to try this new tool out.

Library of Tweets:
Who else is archiving Tweets? The Library of Congress. The made this announcement via Twitter, tweeting that “Library to acquire ENTIRE Twitter archive — ALL public tweets, ever, since March 2006! Details to follow.”

-Anna (@alucas9)