Social media is here to stay and will only get stronger. The consumers on social media have tasted blood with the knowledge that they have the power to run or ruin brand reputation. That brands cannot take their consumers for granted.
I'm sure it is worrying a lot of marketeers that now they are not in control. Well, at least not fully.
So how can things change for the better? How can we reach a win win situation for both the brands and customers. How can brands incentivise their loyal customers for spreading positive word of mouth?
The solution that comes to my mind is : PPP or acronym for pay per promotion. To elaborate, let's assume that someone retweets a brands post and is able to get 1000 retweets on the post. The brand can decide a certain sum that could be paid to the consumers depending on a rate determined by the brand and mutually agreed upon by the brand and the consumers. There could be a concept of an auction where every consumer could pick to choose which brand they want to promote.
The shift will be : instead of networks like Facebook and Twitter earning revenue per click, it will be the end consumer who is empowered to earn. The more he leverages his network the more money he makes. Simple.
The platforms like Facebook and Twitter benefit as they will be enablers of revenue generation for individuals and therefore attract more and more individuals to them and encourage high levels of activity with other users. Active users mean more revenues to these platforms as well through digital ads.
I think this can really personalise a brands engagement with its consumers and take one on one marketing to a whole new level...
What do you feel?
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