Twitter knows its not fulfilling its revenue potential yet. Twitter knows it must offer brands more possibilities. Twitter knows that users expect more. And Twitter definitely knows that Facebook already doing it. According to a new report, Twitter has some major plans for those things too.

According to a new story on Ad Age, the micro-blogging social networking site has some big plans to upgrade drastically brand pages of advertisers so they would include new features of e-commerce, contests and sweepstakes. Ad Age basing their story on three anonymous sources “familiar with the matter”.

Although there isn’t any specific details about the changes, the article explains that Twitter will enable developers to create apps (or “experiences” in their words) on the pages, beyond the familiar boundaries of today. The brand pages upgrade suppose to roll out later on this year.

Currently, there are few dozens of advertisers (which committed for $25,000 investment in advertising) that benefits from the new Twitter’s brand page design presented on December last year. However, besides big banner at the top of the page and one promoted Tweet on the page’s timeline, it didn’t contained much more.

This new reported upgrade may be the answer of Twitter to advertisers that felt the new page’s design doesn’t really worth the investment. The opportunity of allowing users to purchase and to conduct business directly from the brand’s Twitter page definitely sounds attractive and has a high lucrative potential.

I assume that brands will be mostly intrigued from the option to implement e-commerce features on their Twitter’s page, which will encourage them to make their pages exactly as Twitter wants- To grant it a much greater role as a prime online destination of the brand.

This can also explain the integration of apps initiative in the same form as the recent Facebook’s Timeline apps, which can increase the engagement of users with the brand page’s contents immensely. Not surprisingly, Twitter didn’t comment on any of the story’s items.

The story adds up to additional Twitter recent attempts to increase the company’s revenue. About three weeks ago it presented a self-serve ad platform that suppose to go live by the end of this month and less than two weeks ago it introduced Promoted ads for Twitter’s mobile app.