Thursday, 3 November 2011

8000$ for 150 Words or Less

Why is social media so popular? Maybe it is because 77% of the world’s population uses the internet on a regular basis as of 2010 world internet usage.  The internet is an effective tool for marketing a product to a potential consumer.
Social media such as Facebook and Twitter can be useful for marketing a product to a consumer. This can be done numerous ways. Some of which are celebrity endorsement, testimonials, and sharing your thoughts on a product or company for everyone to see. One of the more popular methods is celebrity endorsement. To do this on a social media website is different than on a television commercial. This is done by paying a celebrity to say something positive about your product on a social media website; this allows all of the celebrity’s followers to see the post. Unlike in social media, in a television commercial the celebrity has to interact with the product and this method can be costly.
The way the cost is calculated for celebrity endorsements is based on a number of factors; the popularity of the celebrity (so how many followers) and what is the product. The social media of choice is twitter.  A celebrity that uses this is Kim Kardashian. She has over 3 million followers and she charges 8000$ for a tweet (Kim Kardashian).  Sounds crazy doesn’t it?
Well, it works. Celebrities do it all the time. Also, this is an inexpensive method for an advertiser who wants a celebrity endorsement, but can’t pay hundreds of thousands of dollars for a regular television celebrity endorsed ad. Now that internet and social media is becoming more popular, the celebrity tweets are on the rise and are sure to be for a while.
I could not find a video for celebrity endorsements on twitter specifically, but this is a good video to show what celebrity endorsements in commercials are. This is a commercial for Nikon’s new camera with Ashton Kutcher as the celebrity endorsing the product. This probably cost Nikon in the 100 thousand dollars or more range to pay Ashton to do this.

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