Making money by updating your status and tweeting

A new Twitter and Facebook based social marketing platform for retailers will reward users for Tweets and Facebook updates of products they’re about to purchase

Remember how we said that 2010 was going to be the year that people start making money out of social networks? Well one company, Snatter.com, is intending to make the task a little easier for consumers.

Snatter.com promises to revolutionise social media marketing campaigns for retailers by rewarding users for Tweets and Facebook updates of products they’re about to purchase.

The free site will allow retailers to build social media buzz around their website and specific products or services.

The concept is simple. In exchange for a posting a Facebook or Twitter status update about a specific product or service, the user receives a discount on the purchase they are about to complete. Each update contains a link allowing their Facebook friends and Twitter followers to do the same.

Retailers can integrate Snatter to the final stage of an online shopping process.

“Just saved 20% on PRODUCT at @RETAILER http://link via @snatteroffers - Can’t wait to play with my new toy” (sample Snatter Tweet/status update).

Grahame Cohen, Founder of Snatter said, “In the past marketers have sought to draw on the power of Twitter by paying prolific Twitter users to post favourable comments about a particular product or service and often link to it. But users often see through these updates and consider them to be spam because the update has only been posted by someone in exchange for a monetary award.

“Snatter is different because users are only offered discounts on the products they’re about to purchase and receive no payment for doing so. It’s a completely transparent service.”

Snatter updates will also act as conversation starters on Facebook and Twitter. Many Twitter and Facebook users already actively update their followers and friends on purchases they’re making. With Snatter, they can continue to do so but also be rewarded for the buzz they are generating around a product or service.

Google and Bing now include Facebook and Twitter updates in their main search results so Snatter messages actively increase retailers’ reach.

A Snatter campaign not only offer retailers buzz, but it can also be used as a means of generating new sales. Many retailers currently offer discount codes but they are often promoted via websites that are affiliates of the retailer, so every sale using a discount code loses the retailer both the discount and the commission payable to the affiliate. Snatter takes no commission but therefore expects retailers to offer greater discount values than currently offered via discount websites.

“Snatter also provides retailers a perfect mix of social buzz together with the ability to increase sales volume through marginal discounting,” added Cohen.

The Snatter website is currently offering retailers the ability to request beta accounts to manage live campaigns during the controlled launch period. An API offering greater flexibility and integration of existing shopping catalogues and cart systems is to go live shortly.