Retailers are looking for new and creative ways to advertise as mass media shifts from television and print to online. Social media plays a huge role in making nothing — something. Tweets, re-tweets, and shares on Facebook are great ways to expose a new product or service to potentially new customers. Special promotions are often offered to followers or those who like a page. Now, companies are finding ways for you to make money by sharing their product on social media sites.
When you buy a product online, you’re asked if you want to let others know about it. You can share it on Facebook, Pinterest, Twitter , and other sites. Soon, your news feed will be filled with more than just the news story your friend read, game they played, or the music they listened to. I think it’s a matter of time before our feeds are filled with items people bought at stores as more and more people share their purchases. Their may be good reason to share that purchase — it may earn you cash!
American Express is offering a program it calls “Tweet your way to savings.” However, this takes the marketing to a whole new level because you have to sync your eligible American Express card with Twitter, and tweet special offer #hashtags to get exclusive savings on your card. The savings are great, but is it really such a good idea to link your Twitter account with your credit card information?
To answer that question, it depends how much you value a deal. American Express says it doesn’t share your card information with Twitter. Instead, the company said a unique identifier is used to link the accounts. That’s one thing to consider.
Also, consider the work you need to do to cash in on the savings. Is it worth it, and are you buying something to simply save money? Only certain companies participate in the promotion. To find the offers, you have to go to American Express’s Twitter page and read the Tweets under the Favorites section.
Here’s a look at some of the current offers: Zappos is offering $10 back on your next purchase, H&M is offering $10 on a $50 purchase, Gulf Oil is offering $5 back on $25 purchase, Whole Foods is offering $20 back on a $75 purchase, and Virgin America is offering 10% off a main cabin ticket. For example, for Zappos you tweet #AmexZappos and you get your statement credit within a few days as long as you meet the minimum purchase requirement.
This is not the first coupon venture for American Express if you link your card to a social media site. In July 2011, I wrote about their “Link, Like, Love” Facebook promotion. It works in a similar fashion in that you link your American Express card to your Facebook page, and based on your interests and your friends interests you’ll get special offers and deals. You can also browse the promotions.
I think this is the wave of the future. It’s the latest way for companies to get their product in front of a broader audience. All, for free.
Other ways to make money online without publicizing your purchase
The linking of my credit card to a social media site, even though they say it’s not shared, makes me a little uneasy. I think I’ll stick with other ways to make money. When I shop online, I look to Ebates or my credit card company to see if they have a special promotion with the company I’m shopping. I seek out the savings when I’m ready to buy rather than buying just because I see a good deal.
On Ebates, I earn cash back if I link to a retailer through the Ebates site. They don’t credit my credit card because they don’t have that sensitive information. The money comes in the form of a check each quarter. Of course, someone is making money because they’re tracking my purchases. So, that’s not exactly the most private service but it’s nice to get that check in the mail every quarter.
With my credit card company, they already have my personal information and if I link through them to a retailer I earn more points than I normally receive. Sometimes, the offers are 3 and 4x more points than I normally earn.
Both of these money saving and earning options are potentially not as valuable as the $10 offer from American Express’s social media savings programs, but there are no strings attached. Plus, I don’t overbuy because I don’t have to make a minimum purchase. Finally, there are far more retailers participating in these other offers. That may change as the marketing changes as I think American Express is on to a new trend.
For now, I’ll spare my social media connections tweets and Facebook posts about my purchases. Will you? Click comment below and share your thoughts on this new type of marketing.