IZEA + WeReward = New Media Innovation

When I started my social media agency in 2007 I knew the emerging new media industry needed to streamline and fill a growing void between public relations and advertising. Born was WeReward earlier this year and the advent of Social Media Sponsorships.

A social media sponsorship is a rapidly emerging word of mouth strategy that enables brands to provide material compensation, such as cash, coupons, products, points, trips, etc. to social media publishers to promote and/or review their products and services through blog posts, status updates, checkins, or other unique experiences.

“It not only validates that social media sponsorships are becoming an increasing important tool for marketers, but the projected rate of growth indicates that brand marketers will continue to become part of the conversation and build relationships with consumers through their social networks, whether that be on their computer or mobile device.” Said Ted Murphy, Founder and CEO of IZEA.

“The cascade of new media platforms and technologies have led to significant changes in consumer media use, which has forced brands to rethink long-held beliefs about effective strategies to reach target audiences,” said Patrick Quinn, CEO of PQ Media. “The availability of content through the internet, mobile devices and social networks, the difficulty of reaching more elusive target consumers, and the transformation of personal communications due to these developments have made it more important than ever for brands to invest in strategies to engage target consumers in captive locations for extended periods of time through the power of emotional connections.”

A recent Social Media Sponsorship Forecast spotlights on a clear consumer brand marketing trend toward increased adoption of Digital Sponsored Conversations, Digital Brand Ambassador Programs, Digital Seed/Viral Campaigns and Digital Marketing Agencies.

Social media sponsorship spending is expected to jump 23.6% in 2010, reaching $56.8 million, propelled by an improving advertising and marketing environment, increased social media usage as a share of time spent online, and more brands requiring WoMM campaigns to include a social media proponent. Non-cash sponsored social media will continue to demand the lion’s share of spending, but cash-sponsored social media will exhibit faster growth, driven by new services, particularly those linked to mobile phone applications. Similar to the 2009 results, social media sponsorship will significantly outperform the single-digit growth expected for the overall advertising and marketing industry, as non-digital media segments continue to struggle.

IZEA + WeReward = New Media Innovation
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3 Responses to “IZEA + WeReward = New Media Innovation”

  1. Know what you mean about Lost Wages. My first visit I stayed at the original Sands. I do mean original. It was like stepping into a Frank Sinatra movie. Almost nothing had been updated! It was AWESOME. My room had a patio with a hot tub! I learned to love Vegas the second visit when I was lucky to be there with folks who knew the Vegas off-strip restaurants and clubs (some are even NSFW – gasp. Yet something about being in Vegas makes that OK and just part of the adventure, so I’ve heard…) The people of Vegas are some of the most genuine and hospital anywhere. The second thing I discovered was the natural beauty and outdoor recreation. I always try for a hotel with a view of the hills. It’s so beautiful. Third, perhaps best appreciated by folks like me who’ve managed trade show exhibits, no labor unions. The exhibit crews always willing to help best they can. I have to say too that the hospitality of the workforce is amazing. Places like Chicago you’re screwed if you need something simple like an extra extension cord. Also, the airfare is almost always cheap too. And is there any better airport experience? On your next trip I recommend an extra day or two for discovery. You can go to the Hoover Dam, the Grand Canyon, or experience incredible off-strip restaurants (if The Talisman is still there go – they used to have the best steak dinner, incredible wines, atmosphere and service) or even do a desert tour/adventure by Jeep or ATV. Hope you win the contest. Wordy response I know but I do love the place, especially the natural beauty, and I don’t even like gambling. BTW, I’m on my patio behind seven proxies.

  2. Roy says:

    Thanks for the novel Greg :) Hopefully I get a chance to get back this year, if not I know I will be back sooner then my 10 year promise.

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