So many startups have tried monetizing your tweets, but pretty much all of them have failed. Most of these startups focused on monetizing the twitter stream, which looks quite spammy (unless Twitter does it).
Bangalore based TweetTheOffers effectively marries tweets and social commerce, in a way that brings a user’s followers count (i.e. influence) into the picture and reward him/her a discount coupon while purchasing products from participating websites.
Tweettheoffers.com product is a plugin which any site install quite easily using an iframe, javascript. Once the user clicks on the “Tweet this to get an offer” button ( its like replacing the existing tweet button which we find on all the consumer internet sites), depending on the number of followers the user has reached, we send him a coupon code for spreading a good word about the site.Once the user tweets about the site to his followers,he automatically becomes a follower of the brand(site) and thus increases the number of followers for each Brand. By doing so we credit/incentivize the user with a coupon code depending on his/her followers count
A small example on this would be :
- Suppose I want to buy a book from XYZ.com. Now i see the price is about $15, it also has a small Tweettheoffers.com button next to it which reads ” tweet this to get a coupon”.
- I click on the button, tweet this to my followers on twitter. The system is set in such a way where the higher the followers list, the more discount i would get on the product.
- For spreading word about XYZ.com to my friends i get a coupon code discount of $3, where i can redeem the same for buying the book i wanted to.
An interesting concept, though it’s important that they generate random coupon code, in order to avoid gaming (e.g.: Bigrock has a standard coupon code for Facebook wall post and you can simply use the coupon code, without actually integrating with Facebook).
The fact that this service brings one’s follower count into the discount part, makes it worthwhile and enables a brand manager to view immediate reactions to their promotions/response in the market.
The brand manager dashboard gives useful stats like
- Number of tweets for the brand using the campaign.
- Coupons Sent (Today/Total).
- Total reach of the campaign (on the lines of tweetreach.com).
- Analytical tool that Records click through links of followers and trace them to the source of the product link.
Overall, an interesting concept. The key question is whether brand managers are looking to put a RoI to social media campaigns?
What’s your opinion?
