Check this new venture launching soon from the CEO of Bredog where you get paid for your posts on social media when you post about partner brands then the post value is worked out by some algorithm and you get paid cash, pretty cool concept, let’s see how it pans out in the real world, would love to hear your thoughts?
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Seems pretty disingenuous especially point number 2) they post about it positively on social media. If there is a monetary incentive to post positively about it then it's almost skirting the line unethical advertising.
Even influencers need to include #ad when they're promoting a product.
Free Money :)
Luxus food isn´t free.
I think the issue (that we've given a lot of thought to ourselves!) is how to tread the line between authentic, genuine peer to peer recommendations and incentivised promotion of a brand or product.
We believe rewarding fans for their true passion for something is the way to go - it's why we try to create bounties that only real players of the game can submit to, for example. But if it's just a case of being rewarded for saying something is great on social media... it may generate misaligned incentives that leads to the generation of inauthentic promotion.
It helps that only customers will be able to be rewarded, of course. And if you have a big audience, it could be a nice little earner... will be keeping an eye on this one! :)
only positive? what about unbiased opinions?
value of the post most likely will be based on views/likes/shares etc.
Very trustful testimonials =))))
Yeah I think a better way would be that if you write a review on a product then you'd get a reward. That way the review can be unbiased i.e. doesn't have to be positive to reap the reward though psychologically you'd be more inclined to write something positive if you've already bought it (sunk cost fallacy)
Yeah, definitely doesn't smell like AI generated reviews.
"brands turn their customers in to their influences"
And "they then post about it positivly on social media"
Raise some red flags for me. The first statement sounds like they are trying to get out of paying for real advertising by exploiting and manipulating customers.
The latter seems to mean you will only get paid if its a positive statement, so essentially bribing customers to post possitive comments even if that isnt how they feel.
Feels dirty, dont like it.
All fantastic points here! Will be interesting to see what comes of it!
In an interesting twist he has now posted to Instagram and tagged all the dragons from dragons den asking them to invest? Not sure if this is a positive or. A negative sign or just trying to spin up more PR buzz? The reason I say this as I am sure he’s not short the cash but maybe getting external investment is the smart way to do it no matter what as it reduces risk but then the flip side of be has the money why wouldn’t you just do it yourself as this could be perceived as lack of faith in the idea? I might be totally wrong as I’m not an investor and no idea how that space actually works so if he can fun his idea with other peoples money maybe that is the smart way to do it!?
https://www.instagram.com/reel/C8WlKOLNDnv
1 Buck is 1 Buck.
I keep you updated.
wonder if this is any different from what he did with brewdog equity punks which wasn’t the best, kind of locked in and not like real shares you can sell anytime etc, I’ll need to have a look into it
Steven Bartlet has invested according to his latest post
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