Goodbuzz Pays Cash For Referring Advertisements On Social Media
When you're looking for an event to go to, a product to buy, or a non-profit to support, do you pay attention to advertising or do you listen to what your friends recommend? Goodbuzz from Lithuania blurs the lines by paying people for referrals of products and events on Facebook, Twitter, Linkedin, or by email. How it works is that advertisers post their advertisement to the Goodbuzz website and deposit a sum of money for people who like the advertisment and want to spread the message to friends and followers. At the end of the campaign, the tip is split between these sharers, relative to the leads they've generated.
This offers advertisers a way to tap into social media on a local level, and pay the most money to actual leads generated. In this sense it can be a highly efficient form of advertising.
When compared to legitimate grassroots support, this sort of advertising is called "Astroturfing" after the fake plastic grass seen on football pitches and indoor arenas. When you share a link to a promoted product it will say something like "Warm Yourself: Handmade Knit & Crochet Designs. Promotion of Mawuna Koutonin" and the link will take you to the GoodBuzz website, meaning your friends will know what they're clicking on. As long as this sort of social advertising is honest in the sense that it's obviously advertising, I think I'm okay with it. Goodbuzz has a solid concept and and is an interesting startup to watch, but it makes me wonder what's in store for our brave new social world.
Hello Greg,
It is a very interesting startup you brought today and it sounds like a call to those who have tons of followers on the social media. I'm very curious to see if it really works.
I have some concerns about how the user get the tip. They say - The Goodbuzz software tracks and calculates everything automatically - but IMHO the so called "automatic" algorithm formula should be published, so the user can know if it is worth it.
Well, of course it is the founders choice to let its audience know or not, but I think transparency will strengthen their position in the market.
A part that I wish them good luck with their project.
Have a nice week!
Ereid
PS: BTW the site's address is goodbuzz.org not goodbuzz.com :)
This reminds me of Shop And Tip (http://www.shopandtip.com/) you get discounts if your friends buy something from a store after getting a recommendation from you (or something along those lines.)
A delicate situation since it makes your friends' reviews much less objective...
@Ereid, Thanks for your positive comment and your good wishes (Christmas time helps:))
The formula of how the tipping system works is published in FAQ here: http://www.goodbuzz.org/en/faq#tips
it's not possible to publish everything about the tracking system, because we need to fight clicks fraud, spammers and fraudsters.
As we learn more, we should be able to share more information about the tipping system with the community.
@Anne-Sophie. Thanks for sharing the link to the "similar" website. In fact Goodbuzz has nothing to do with discounts or shopping. people don't have to buy anything, and their friend don't have to buy anything to earn money. People receive tips simply when they help advertisers spread their message.
Nice to see interesting startups like this. Good job ArcitcStartup. keep it up!