PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Marketing duo launches service that envisions payments with buzz, not money.
Money is so 20th century. The new currency is buzz.
That’s the idea behind a word-of-mouth marketing service called “Pay with a Tweet,” launched about three weeks ago. Consumers can pay for a song, an album, a downloaded paper or even online retail goods by sending a message over Twitter that would promote the retailer, brand or artist.
“In general all content creators and marketers want to create buzz for themselves, their brand, product or service,” say Leif Abraham, a marketer from New York who helped create the service with Christian Behrendt. “It’s a tool that is perfect to create a quick buzz around you, your service and your products.”
They imagine online retailers using the service to sell product samples or offer discounts in exchange for consumers spreading the word about the products via Twitter. “For example, you get 10% off if you tweet about your purchase,” he says.
Retailers would go to PaywithaTweet.com to sign up for the service and to gain a button for the service that can be embedded on a web site. Retailers and others selling goods or services via Pay With a Tweet can post the exact message they want consumers to send in exchange for the sale. Retailers can attach a URL to the Twitter message that directs consumers to the web page that has the Pay with a Tweet button.
While consumers can add short personal notes to the retailer’s message, consumers cannot edit the URL attached to the tweet.
Abraham and Behrendt did not say if any online retailers had signed up for the service, or how they expect to make money from the service.