It is a common problem, needing to advertise a product nobody is actively looking for. Unlike the iPod which was herald by a multi-million dollar advertising campaign, BidMadness operate on a very small advertising budget. So what sort of affordable marketing strategy can cut through this and engage the customer?
Social media marketing is getting a lot of press lately, mainly due to the fact that anyone can apply it. The marketing concept is actually age old, leverage influential people to encourage others to try your product. The difference nowadays is that we can do it digitally, quicker & more effective than ever before. Facebook, My Space & Twitter are tools in this as they are agents of connectivity, allowing for the spread of information with a single click (one to many).
In the case of BidMadness, it was as simple as good old fashion bribery. For every registered member, if you post a favorable comment about the company on a social media portal, you receive free $$$. So in effect, they are forming conversations between people and advertising the product for free.
Josh Strawczynski's Opinion:
There are far too many companies jumping on the social media marketing bandwagon because it is in vogue. In my last article, I wrote about planning your website, social media is no different, you must have a plan. Don't just set up a Facebook account and expect people to buy more. Communicate with those around you and build your networks by leveraging those influential people around you, then engage them and use the portal to keep them up to date and feeling like the special customer they are.
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