Archive

Are Social Media Followers a Currency?

social followers currency
Valeria
18th December 2014

You might have caught some of the hype over the last few years or seen local retailers offering discounts or free products in exchange for social shares or check ins. Recently,  a hotel went further by offering a totally free, 5-night stay for people with a certain number of Instagram or Facebook followers.

The Nordic Light Hotel offers 5%, 10%, 15%, or 100% discounts for visitors who are willing to publish social shares and updates to their networks. The discount is based on the size of the network, and is clearly laid out on the website:

When is it a Good Idea?

In concept, it sounds great – your business reaches a new audience on social media and (realistically) a hotel will usually have empty rooms so a free room isn’t too much of an issue given the amount that you save on trying to reach that audience through alternate means. Likewise, a free cup of coffee here or there, or a 10% discount isn’t much to give to reach ~300 people (or as many as 100,000). Personal tags, posts, and recommendations are certainly more effective than paid advertising on the same channels.

Offering small discounts or products in exchange for a share can be an excellent way to gain more exposure, particularly if you run a local business and would like to reach more people nearby. However, stipulating a certain number of social followers is a poor way to design your social media strategy simply because followers can be, and often are, bought. You can buy thousands of fans or followers for as little as $5, meaning that the posts will just be seen by some bots and fake accounts based in Manila. Meanwhile, the hotel gives away a £700 stay.

Ultimately, it’s important to weigh the potential benefits against the costs to your business and to be extremely realistic. Small products and incentives tie into the top reasons why people follow brands on social media (to receive offers). Catering to your audience in the little ways, and doing it consistently, can bring more long-term benefits than occasional blow outs which will get short term coverage but won’t truly nurture your audience.

 

 

 

Lets Get Started Contact Us
Latest News
Why Have My Rankings Dropped? Diagnosing Your SEO Problem
Losing rankings isn’t just disheartening – it can have a huge impact on your business and profits if you rely on organic traffic for sales. Unfortunately, a lot of businesses experience a sudden and dramatic change in rankings and don’t always know how to find the reason behind it. This...
How to Hire an SEO Agency, According to Google
Google have released a video with their official advice on how to hire a SEO. The 11-minute talk goes over the basics, including how to tell whether the SEO agency you’re speaking to is legitimate, how to hire an agency, and how to make sure that you actually see improvements....
How to Make the Most of Your Digital Marketing Agency
Working with a digital agency can make a huge difference to any business, from opening up new channels to reach potential customers to drastically decreasing the cost per acquisition online. However, it is important to properly manage your relationship to ensure that you get the most out of your agency...