SOCIAL CURRENCY PAYMENT CARD

Do you shop your favorite brands and flaunt your shopping bags on IG? Does your morning iced latte make it to your story every day? Are you someone who loves to snap and share their meal on social media? What if I told you that you could get paid for all these posts?

All you have to do is become a member of our payment card, tag the brand and the company from which you got the payment card, and depending on your followers and influence, you will get cashback from the brand itself.

Let's dive into the strategy behind this and understand how it benefits the brand you bought the product from, the social currency payment card provider, and the customers, as well as the drawbacks.

Benefits for the Brand

Wider Reach  

Whenever customers post pictures with the new things they bought and tag the brand, it extends the brand's reach to more potential customers.

Effective Advertising  

Even if the brand spends large amounts on traditional advertising, it often yields less response from the public. However, when advertising is done by people whom others trust or are influenced by, the impact is greater, and they are more likely to try the product.

Higher Savings and Revenue

Increased demand leads to increased supply, resulting in higher revenue and significant savings on traditional advertising costs.

Change in Customer Preferences  

Customers from competitive brands may switch to new brands when they discover them on the card provider’s website, motivated by the opportunity to receive cashback.

Benefits to the Card Provider

Intermediate Between Brand and Customer  

Brands pay money to the card providers to be part of this ecosystem.

No Working Capital Required for Cashbacks  

Brands pay in advance to the card providers, who then distribute these funds as cashbacks to customers, ensuring no financial loss for the providers.

Membership Revenue  

Customers pay monthly or yearly membership fees, generating substantial revenue for the card providers.

Scope and Opportunities  

Once customers start receiving cashbacks, they are likely to become active users, finding the idea both appealing and affordable.

Benefits to Customers

Affordability  

Customers can buy expensive products more easily.

Becoming an Influencer

To become a famous influencer, you need stylish clothes, accessories, and other products. This card allows you to have them without hesitation.

Cashbacks

You can get up to 80% cashback depending on your followers and other metrics.

Earning Through Followers

As your number of followers increases, social media platforms like Instagram will also pay you.

Drawbacks

High Dependence on Social Media Platforms  

Success is heavily reliant on maintaining and growing a social media presence.

Need for Extensive Collaboration  

Significant effort is required to partner with more brands and expand the network.

By understanding and leveraging the benefits, both brands and customers can maximize their gains, while the card provider plays a crucial intermediary role. However, it's important to consider the challenges and plan accordingly.

 Inspired from - WYLD

UNTL THE NEXT TIME IT'S GEHNA MITTAL SIGNING OFF !!