Advertising + Social Media = ♥
Hot on the heels of the rumours about Twitter’s advertising platform, Digg.com – a social news aggregator – has provided a performance update on its innovative advertising model. Several months ago, Digg wowed the world with an advertising system built around social media. Digg’s online visitors and users were able to provide feedback on the site’s ads by “digging” (the equivalent of Facebook’s Like feature) the ones they enjoyed; advertisers were charged a higher or lower rate for their ad space depending on the reactions garnered. This level of community integration in advertising was previously unheard of and many were sceptical of its success. Digg’s recent news, however, proved the doubters to be wrong.
Digg.com reported that “from a revenue perspective, things have been great.” Advertisers have been jumping at the chance to engage in more fulfilling interaction with users. Digg has truly created something revolutionary by forcing companies to create advertisements which are meant to be viewed as interesting social media.
The Digg ad model captures the versatility of social media as a complementary tool in pretty much any area. It’s highly likely that Twitter’s future attempt at monetization will involve something very similar- a platform which allows users to interact with advertisers, allowing them to learn from one another. I look forward to seeing how more and more companies end up using social media in their advertising campaigns.
If you spotted that I’m a new face on the Tamar blog, you’re right! I’m a student from Boston University in the US, and am spending a few months interning at Tamar. I’m a huge fan of social media and its many applications and am fortunate to be able to help Tamar develop its social media offerings. Having spent some time working with US organizations on their social outreach efforts, I’m excited to explore the field from a British perspective!