Social Media Spotlight: PayMeOn

In this week’s Social Media Spotlight, we have the pleasure to introduce PayMeOn, an online and mobile platform that allows users to share deals and earn real cash. The online “deal” industry is fast-growing, and widely loved and enjoyed by its users. With PayMeOn, meaning “pay me on this or pay me on that,” you are rewarded for referring a friend. Payout amounts can range from $5 up to $100 per referral, as well as offer users huge discounts on a variety of products and services. We had the opportunity to speak with Blake Ruderman, Co-Founder and VP of PayMeOn about their social media, and here is what he had to say…

What social media platforms do you currently use?

B: Our business leverages all “social networks.” Specifically, we are active on Facebook, Twitter, and LinkedIn.

What value, if any, does social media provide to your business?

B: Our business model is wholly dependent on “sharing.” Social media is THE critical method for our users to refer our deals and get paid. We believe social media extends beyond the “name” social networks and into your mobile phone address books, email contact lists, etc. We believe social media is basically any platform that allows you to have a “conversation” and that is critical to our business. From the company’s perspective, social media allows us to engage our customers one-to-one, one-to-many, and many-to-many on topics of interest that ultimately generate referrals and sales of deals.

Which social media platform works best for your business?

B: We don’t believe that any one platform works “best” for us, instead, they all work in “tandem.” We use Twitter differently than we use Facebook, and we use Facebook differently than we use LinkedIn, etc. Think of our social media communications strategy as having multiple elements: fun, education, information, transactions and customer service. We use all the platforms to engage in the ongoing conversation across these elements with our customers.

How has social media impacted your business in terms of ROI and sales?

B: Our business has just launched, so we don’t have meaningful sales figures yet. However, the impact has been significant. The entire product was built to leverage social media, so every aspect of our business depends on it. In testing, social media was the primary outlet for all sharing that happened within the product.

Do you have any advice for companies who are on the fence about social media?

B: Yes, get off of the fence. Our relationships with people, aka our “social networks,” are what influence us every single day. Our co-workers, family, college buddies, golf buddies, etc. are the people that we spend time with and influence virtually all of our decisions. The fact that these relationships have moved “online” with all sorts of social media tools, only makes them more accessible and keeps us in touch more frequently. And so, they become more influential in all aspects of our lives, especially purchase decisions, as we are now easily able to consult everybody quickly.

Is there any social media strategy that you would like to improve or do differently?

B: We think that a social media strategy should always be a “work in progress.” It should constantly be reviewed and adjusted to account for new user trends and new tools. For example, “checking in” to a location wasn’t popular before; now it is. Social media strategies should be adjusted or enhanced to leverage new avenues.

Blake seems to have a very strong grasp on how social media can benefit his company, and an understanding that social media is forever changing is key for adapting new strategies. PayMeOn may be newly formed, competing in an industry with well-established companies, but their marketing strategy may very well make PayMeOn a contender for the top spot in their industry. For more information on PayMeOn and to view their great discounted deals, visit them at PayMeOn.com