As social media becomes more popular and prominent in our world each day, advertisers are taking great advantage of the opportunity. Whether through hashtags or celebrity endorsements, advertising strategies are beginning to revolve around these networking cites, and seem to be working.
Social media and marketing
Twitter and Instagram are two of the main social media cites that marketing firms are using. Other cites include Pinterest, Facebook, Foursquare and many more. Kim Kardashian is a major endorser on Twitter, making approximately $20,000 per tweet. Several other celebrities take advantage of these opportunities, given how much cash they can earn.
Sponsoredtweets.com is a Twitter advertising platform that connects advertisers with tweeters. On the cite, users can scan through to find tweeters with the right amount and type of followers, and make an offer about how much they will pay them for them to endorse their product or brand through tweets. This platform has been called the Ebay of social media, due to the bargaining that occurs. On the website they state, “We provide you with a list of Tweeters that meet your criteria. Look through the list, drill down on information and make offers to the people you pick.” It is as simple as that.
A competitor of sponsoredtweets is Adly, which is another advertising platform that serves the same purpose. It differs slightly, however, as it is known as a social advertising startup that helps brands connect with well-known celebrities to drive consumer engagement, by sparking conversations with their fans.
The FTC is not very excited about websites such as adly and sponsoredtweets, because they promote deceptive advertising. Therefore, they have placed several restrictions and requirements for the endorsements that take place. The most important rule is that any endorsement tweet must make it known that it is an endorsement. This allows viewers to know that whomever posted the tweet is being paid, and it most likely was not their idea to post it.