Monday, August 25, 2008

Forget Facebook For Marketing, Try Facecard

Teens are, to many marketers, the perfect target market. With comparatively quite a bit of disposable income, an insatiable need for the latest and coolest, as well as the ability for quick word of mouth marketing, it's little wonder that so many marketers try to court them.

Unfortunately, this group is probably even more media savvy than the media strategists who try and reach them. Raised with constant connectivity through cellphones, internet and emial, these techno-addicts will ignore anything that they deem irrelevant.

Edo Interactive, a Nashville-based firm that deals with Web 2.0 technology, is trying to change all of this. After spending a year studying young consumers, they developed Facecard, a prepaid credit card aimed squarely at millennials and the businesses that court them.

Launching imminently in the US, Edo's application works somewhat like Facebook with a financial twist. Applicants need to create profiles on, after which they will receive a card in the mail that allows them to borrow, lend, or give away money to their peers electronically.

For a fee, marketers can also send them "prewards," small denominations of instant store credit, based on their age, location, and personal interests.