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Tweeting is an art. Few good men do it better than anybody else and Curtis Jackson (better known as 50 Cent) surely belongs to that club. The rapper helped penny stock company H&H Imports, which he received 30 millions shares of in October, make $50 million US in one day by tweeting about it to his 3.8 million followers.
Though the tweets were later deleted from 50 Cent’s Twitter feed for unknown reasons, the wrapper racked up a whopping $10 million almost overnight. H&H imports has been performing rather poorly since quiet some time and question marks have been raised over its long term future. Needless to say, the tweets from 50 Cent have been nothing short of a God-send for the ailing company which closed at 39 cents Monday, up 29 cents.
Is it a good business case?
To be honest, I’m no 50 Cent fanboy but I must admit that I’m impressed with the whole game plan of reviving a business with a few tweets. Twitter critics often say that 140 characters are hardly enough to do anything meaningful. Now, we know for sure that this limit is good enough to turn a business’ fortune overnight.
Of course, it’s a good business case and I won’t be surprised if it sets the precedent for celebrity endorsement deals for businesses in Tweetosphere. It’s a win-win deal with celebrities as well as businesses and it provides opportunities for fans to show their love and trust towards their beloved icons.
Is it legal?
I’m not a legal expert so I’d probably refrain from commenting on the legalities of such tweets. From an ethical perspective, I do not see anything wrong with celebrities endorsing a business and encouraging their followers to do the same.
Let’s face it – most of the “double your money right now” schemes are either fake or have hidden terms and conditions associated with them. So, I’d suggest you read the fine print before taking the plunge.
Twitter’s Viral Power
I’ve always maintained that Twitter is a fantastic viral marketing tool for businesses and the 50 Cent episode is a perfect testimony to prove those claims. Tweets travel faster than our imagination and can serve as invaluable brand ambassadors for a business. 50 Cent was intelligent enough to use the viral powers and wide reach of Twitter for business gains. Is your business prepared to leverage the same?
Have you leveraged the viral marketing powers of Twitter for business? If so, has Twitter helped boost your business? Please share your opinion by leaving a comment below this post.
I don’t think he did anything worse than all the talking heads on CNBC hyping up stock prices everyday. If anything he was honest enough to admit to having a stake in the company.
Seems like the key to writing million dollar tweets is to have 3.8MM followers. Ah, that would be nice.
Great article! I always believed in the power of Social Media, especially when it comes to celebrities and people with massive mainstream influence. I agree with Kevin – he’s no worse than a lot of the media who have hidden agenda’s. At least he was forthcoming about his personal preference. And like you stated – it’s a win-win situation. And Charles, you don’t have to have 3.8 million followers to see great results. My teacher sold out a over $500k of coaching with thousands of followers.
This is ridiculous. It has NOTHING to do with the Tweet, it has to do with 50 Cent’s celebrity.. that’s all.
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