The web, like life, is all about connections: connecting to information, friends, businesses and more. Online content makes these connections possible. And in most instances, websites provide the forum; users provide the content... lots of it. People spend hours a day sharing online: from uploading photos, to writing blogs, to sending video links. Smart phones have made this activity easier than ever. This phenomenon has not gone unnoticed. It seems that everyone wants to harness the power of social media, but how?
Right now, social networking sites and advertisers have taken the lead. Social networking sites collect user data, then, they use this data to sell advertising space. In theory, this creates a win – win – win scenario. First, users win by gaining access to a desirable network and advertisements. Second, the networking sites win by raising the revenue necessary to operate. Third, companies (via advertisers) win by reaching their target consumers.
However, this scenario neglects a key component of human nature: word of mouth recommendations. Studies show that consumers trust known peer recommendations most. Share Magnet hopes to bring word of mouth to the party and make everyone even bigger winners. Sure users already share, but we want to compensate them for sharing.
According to our research, brands want a more credible social voice. Advertisers are frustrated that social media users aren’t always paying attention. Conversely, social media users are frustrated when advertisers inundate their online space. In response to these concerns, we hope to reform and enhance traditional advertising.
We plan to do this by connecting companies to consumers. This will produce what we like to call the big win/win/win.
Big Win 1
Users not only access networks but also get paid for sharing items they know and love.
Big Win 2
Social networking sites protect their advertising space from oversaturation and reinforce the culture of sharing.
Big Win 3
Companies (via advertisers) strengthen relationships with loyal consumers and establish a credible social voice with new consumers.