Wednesday, November 07, 2007

According To Facebook, You're Worth More Than Lebron James

I don't know how much Lebron James gets paid for being a spokesperson for Nike. But I'm pretty sure it will be more than you're going to get paid for being a spokesperson for Nike or Blockbuster or Coca Cola or Travelocity.com on Facebook.

What you'll be getting is absolutely nothing. Which means you'll be tremendously underpaid.

This according to Mark Zuckerberg, Facebook's CEO. Well, he didn't put it exactly in those words.

Mark made it sound a lot more impressive than that. At a packed house in New York yesterday, Mark unveiled a new way to advertise. As he put it, "The next 100 years starts today, and it's going to be very different."

I'll say.

What's different about it is that everyone of us can now shill for advertisers, in a sense, become their spokesperson, and not make a cent for it. Mark assumes that people will gladly do this.

And, he's probably right. People will.

Facebook, after all, is based on the theory of "egonomics". If you stroke my ego, you don't have to worry about my wallet. On Facebook, the more friends you have the more your ego gets stroked.

And now, with Mark's idea of Social Advertising, the greater value you also offer to advertisers.

Not that egonomics doesn't make money for certain parties. Facebook's recent $15 billion valuation proves that.

But for the 50 million Facebook users, who now have the option of working for brands at no cost, little will be seen in the way of cash.

Which means they're leaving a lot of money on the table. According to Mark, more than Lebron's making. After all, as he put it, "Nothing influences a person more than a recommendation from a trusted friend."

You would think that much influence should certainly be worth something to someone.

It certainly has been to Mark.

Do you think he would mind if we all sent him an invoice?

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