Cracking the code on the monetization of social networks is one of the big challenges on the web along with monetizing user generated video.
Socialmedia, a social ad network, is experimenting with word of mouth ads.
SocialMedia, a company that specializes in advertising across social networks, has released a new form of advertising dubbed the “WOMI”, or Word of Mouth Impression. WOMI campaigns present visitors with ads asking them for some kind of input either though a multiple choice question or using a text field. SocialMedia then uses this input to customize ads which are shown to the user’s friends on the same social network.
For example, if an ad for Star Wars had a call-to-action asking if I was on the Light Side or Dark Side of the Force, it could take my response and then present my friends with an ad that said “Jason is on the Light Side, how about you?”. In turn, their responses are passed on to all of their friends, making this among the first kind of advertising with a viral element. This interaction makes the ads mini-social applications in and of themselves, and have proven to be very successful in trial campaigns.
I understand that idea to add some intimacy/familiarity to the ads to make them viral, but I somehow don’t see clicking on the ads just because my friend’s name is on it. It still has to engage me and add some value to me, and I don’t see that with these ads. So call me a sceptic. But kudos to socialmedia for trying a new approach.