"Monetize Your Influence" - MYI will be the one of a kind online social commerce marketplace in which social peers receive monetary rewards to successfully refer products they like from 1000’s of vendors across a large variety of verticals to friends and followers on any of their digital social networks. MYI solves the product discovery problem and transforms existing customers into product evangelists, increasing sales at lower costs. Vendors benefit from greater margins and develop an interactive stake with their customer base. Our model incorporates highly trusted Word of Mouth (WOM) referrals, targeting like-minded friends across their social media timelines to build product awareness and trial at social scale.
Our WOM technology by-passes costly traditional based media advertising and utilizes any web device or digital communication to enable layers of social media peers to “Monetize their Influence” - make money. Consumers act as vendors’ media and sales force. Their private MYI links enables our vendors’ customers and layers of their friends and followers to recommend products personally on all social networks to their social friends and followers who are then enabled to buy directly by clicking the MYI links posted on their social networks. As an incentive to promote and sell products, peers earn discounts and cash rewards in their own personal accounts we establish on their behalf. Incentive based personal referral selling drives entirely new sales at a zero Customer Acquisition Cost and marginal cost per sale.
Our proprietary platform resides on a hierarchical distributed cluster technology specifically designed for Big Data and Big Memory applications that perform every required business task. It is implemented on a unified stack of software (UNISTACK) framework written in C# and provides intellectual property compression that greatly reduces the amount of code assets and operational man-hours typically required to maintain.
MYI is based on a multi-layered chain of sales that captures who bought what, when and from whom. The system allocates a percentage of profit margin we negotiate with vendors towards each tree of participants, directing a perpetual flow of commissions as passive income to users. Participants are paid while products are purchased through their referrals. Commissions are apportioned at any network connection degree level, i.e. 8%, 4% and 2%, etc. in successive progression and may be adjusted to reinvigorate the sales cycle if necessary. Purchase prices are established by vendors. No markups are added on purchase layers. Users need not pre-buy inventory or attend seminars to create sales circles.
- Process and track every facet of an unlimited number of transactions across endless verticals and products
- Capture and retain all product parameters, descriptions, images and multi-currency pricing
- Track product inventory levels
- Manage vendor payables and receivables including balances, adjustments andreporting
- Execute fulfillment logistics considering multiple warehouses, geography, product parameters and ship rates
- Calculate sales tax and IRS 1099’s on user based commissions
- Multi-level commission engine with consumer purchase causality tracking accruing commission balances on user’s individual accounts
- Vendor backend integration APIs
- Single sign-on for consumers into variety of shops and brands. The consumer method of payment and delivery information is established only once
- Clutter free lightweight user interface (UI), quick operation on desktop and mobile devices (small download sizes)
- Fully integrated platform, consistent user experience, no need to leave pages, same UI, no 3rd party plugins
- Protected marketplace of high-quality curated products and brands with returns and buyer protections
- Consumers generate perpetual passive added income which is deposited to their personalized accounts and can be easily monitored and redeemed at their call
- A self-perpetuating fully integrated social commerce sales channel
- Higher gross margins as there are no co-op, promotional, warehouse and shipping costs
- No customer acquisition costs and near zero marginal sales costs add to higher vendor profit margins
- Vendors own and interact with their customers to upsell new products