I’m always on the lookout for new trends and applications. I do this for myself as well as for my clients, and like to reference these in social media, blogs and newsletters to show that we’re at least trying to stay on top of new technology and industry trends. You don’t really have to look very far–there are so many little startups out there who are dying to be the next Facebook. In case you’re not looking, there are web-based apps for just about everything these days, many of them free.
“Paying with a Tweet” (PWAT) is something that got my attention and I think we’re going to be seeing more of this, and of course, it is not limited to Twitter, but has application to other forms of social media as well.
PWAT is just that: paying for a product or service with a social media mention. They’re calling it a social payment system and it’s pretty simple; rather than having money exchange hands, you log onto Twitter and promote the product. If you’ve got a huge group of followers, this can be a powerful marketing strategy. PWAT leverages word of mouth, which we all know is the very best form of advertising–not only is there a strong credibility component, but it’s absolutely free.
Whenever someone pays with a tweet, he/she tells his/her friend about the product or service. Still not sure how this can work? Let’s look at a French rock band called The Teenagers. They downloaded a PWAT button onto their website, http://www.paywithatweet.com/theteenagers/. When you go to their site and click on the PWAT button, you will get a Tweet screen. Enter your tweet and hit “share”, and it will show up as a Tweet on your Twitter page, and you will then be directed to download the song. A confession: I passed on the song. It’s the process that I love!