Social currency (the value locked away in your social network) is an oft mentioned principle in online marketing. You build social currency by providing useful stuff to a growing network of fans and they reward the value of that stuff by sharing it with others, building their own social currency in the process.
A new service, Pay with a Tweet, makes this process a little more concrete by allowing users to purchase items using their social currency – in this case by sending a tweet out to their Twitter followers.
For example, an author might make a preview chapter of their latest book available or a band could release a free bonus track, to anyone who tweets about it. The benefit to the ‘seller’ is the increased visibility and the potential that it will ‘go viral’ – the ‘buyer’ gets free stuff.
Pay With a Tweet is a pretty simple implementation of the idea – but one that’s likely to be mirrored, and already is, in plenty of marketing campaigns. I can also see this concept being further developed to handle physical products and differentiate the ‘price’ based on the size of a users network (for example, someone with 1000 followers might get the goods for 1 tweet whereas someone with 500 might have to tweet twice).
Site: www.paywithatweet.com
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Pay with a tweet sounds really good. I will have to use them. This is my first time hearing about Pay With Tweet. The only one I have been using so far is Sponsored Tweets. But since you mentioned the other site, I will have to use that one as well. Thanks for a great post.
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