SocialCash Thinks the Way to Monetize Social Networking is Free iPods |
| Published: June 10, 2008, 9:00 am |
| Tags: social networks |
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Social networking has been notoriously hard to monetize. Despite loads and loads of inventory, hitting on an ad model that works has proved thus far elusive. Traditional banners haven't worked, contextual ads have been lackluster, selling app installs isn't sustainable, and getting people to sell to their friends hasn't worked. There's just no native ad format for social networks. A new startup that launches today called SocialCash thinks it has hit on the solution: incentivize ad participation with free stuff. SocialCash, which has been running a private beta with 15 app developers, including the super popular Friends for Sale app on Facebook, consists of two main products for developers: BannerCash -- a traditional banner ad network for social applications, and PointCash -- the more intriguing of the two and described by the company as "a virtual currency engine that allows users to complete advertising offers for points or coins." What that means, is that users are given [ Full article ] |
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