As the internet continues on it's path towards interactivity and community via social media, blogs and other user generated content, social networkers now have an easy way to win quick money.
United States of America (Press Release) February 18, 2008 --
As the internet continues on it's path towards interactivity and community via social media, blogs and other user generated content, online business is being all but completely reshaped. Business owners are forced to engage in social networking to stay competitive, traditional press releases are lose their impact as journalists look to social media hubs for their stories, and online marketers scurry to find new models of monetization.
The implications don't stop there. One area that will quickly reflect the rise of social media is online contests, as demonstrated by www.500dollars.net, a new site that rewards social networkers.
We can all recall the post dot.boom and the resulting emergence of online gambling and sweepstakes sites, and now as social media becomes the next boom in technological history, this new breed of contests is predicted to have an almost equal impact.
From the site owner:
"500dollars.net is a fresh, yet simple approach to online contests that harnesses the power of social media and leverages it for the benefit of it's entrants. Because the site is monetized by entrant's voters, (1 dollar per vote with no voting caps or restrictions) entrants are incentivized to help monetize the site for their own benefit, making the site "self sustaining." It's a new brand of contest giveaway, that's consistent with the continuing rise of social media and user-driven 'everything'."
This description brings to mind a recollection of the recent reality/voting based entertainment models peppering our cable networks; 500dollars.net is to social media what "survivor" was for reality television.
Whether this model sinks or swims is still up in the air. However, one thing is for certain. Social media is quickly providing society with a global communication network unprecedented this far. If implications to business and to traditional media can't be avoided, online contests surely aren't immune to the social media silver hammer either.
The implications don't stop there. One area that will quickly reflect the rise of social media is online contests, as demonstrated by www.500dollars.net, a new site that rewards social networkers.
We can all recall the post dot.boom and the resulting emergence of online gambling and sweepstakes sites, and now as social media becomes the next boom in technological history, this new breed of contests is predicted to have an almost equal impact.
From the site owner:
"500dollars.net is a fresh, yet simple approach to online contests that harnesses the power of social media and leverages it for the benefit of it's entrants. Because the site is monetized by entrant's voters, (1 dollar per vote with no voting caps or restrictions) entrants are incentivized to help monetize the site for their own benefit, making the site "self sustaining." It's a new brand of contest giveaway, that's consistent with the continuing rise of social media and user-driven 'everything'."
This description brings to mind a recollection of the recent reality/voting based entertainment models peppering our cable networks; 500dollars.net is to social media what "survivor" was for reality television.
Whether this model sinks or swims is still up in the air. However, one thing is for certain. Social media is quickly providing society with a global communication network unprecedented this far. If implications to business and to traditional media can't be avoided, online contests surely aren't immune to the social media silver hammer either.
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