'Pay With a Tweet' Sees the Value in Social Networks
Vittoria Natarelli — June 17, 2010 — Tech
References: paywithatweet & springwise
A new and innovative way to purchase products is Pay With a Tweet. The German-American Innovative Thunder team created the revolutionary payment system. They acknowledge that today, buzz about your product is worth more than money spent on advertising.
This is how it works: Products are paid for by word of mouth on Twitter. When you "purchase" a product you are given a URL to place in your tweets. Instead of paying with currency, you are paying with social advertising. Pay With a Tweet is currently testing the idea on Innovative Thunder's book “Oh My God What Happened and What Should I Do?”
This is how it works: Products are paid for by word of mouth on Twitter. When you "purchase" a product you are given a URL to place in your tweets. Instead of paying with currency, you are paying with social advertising. Pay With a Tweet is currently testing the idea on Innovative Thunder's book “Oh My God What Happened and What Should I Do?”
Trend Themes
1. Social Media Payments - Disruptive innovation opportunity: Exploring new ways to use social networks as a form of payment.
2. Word of Mouth Advertising - Disruptive innovation opportunity: Leveraging the power of social media to promote products through peer recommendations.
3. Alternative Payment Systems - Disruptive innovation opportunity: Developing non-traditional payment methods that utilize social media engagement instead of currency.
Industry Implications
1. E-commerce - Disruptive innovation opportunity: Integrating social media payment methods into online retail platforms to enhance customer experience.
2. Digital Marketing - Disruptive innovation opportunity: Utilizing social media payments as a strategic marketing tool to drive brand awareness and customer engagement.
3. Publishing - Disruptive innovation opportunity: Incorporating social media payments to monetize content and books in the publishing industry.
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