Launched simply 9 months in the past on iOS and final month on Android, LIKEtoKNOW.it has simply hit 1M registered customers on their cell app, bringing complete customers to 2.8M.
As a refresher, LIKEtoKNOW.it’s a service that allows you to “like” footage from Instagram influencers and robotically get hyperlinks to purchase their outfits despatched to your inbox. And their not too long ago launched cell app permits you to take screenshots of an influencer’s image (it doesn’t matter what platform you discover it on) and can then inform you what the gadgets are within the image together with hyperlinks to purchase it.
Each merchandise are made by rewardStyle, a Dallas-based content material monetization platform for social media influencers. This 12 months the corporate hit $1B in single 12 months gross sales, with about 30% coming from LIKEtoKNOW.it customers. Which means social media has pushed practically $300M in gross sales for rewardStyle this 12 months, up 10x from simply $10M three years in the past.
When the app first launched we talked about it doubtlessly being a great way for rewardStyle to construct their very own discovery channel, so that they wouldn’t need to be as reliant on social networks for site visitors.
Nearly a 12 months later it appears that evidently this technique labored out, as two-thirds of all purchases made within the app are pushed from content material found contained in the app, versus being discovered on outdoors web sites or social platform. And social options like with the ability to observe and seek for influencers have made it even simpler for the app to develop into a completely standalone social purchasing expertise.
The corporate works with about four,300 manufacturers starting from Gucci to Walmart, all of whom pay a fee by way of rewardStyle to influencers who determine to put on and tag upwards of 50,000 merchandise of their social media posts every day. Marketplaces need to get in on the motion too – eBay simply inked a partnership with rewardStyle that may let influencers choose merchandise from eBay’s stock.
In fact rewardStyle isn’t the one one making an attempt to drive cell commerce by way of social media. Instagram is engaged on their very own purchasing platform, which primarily lets manufacturers create their very own shops on Instagram. Nevertheless it’s vital to notice that it is a completely different method than rewardStyle, which retains the concentrate on influencers and doesn’t permit manufacturers to instantly publish content material. This implies the 2 choices can’t solely coexist, however most likely assist one another in the long term in the event that they each find yourself getting extra customers to embrace the world of cell purchasing.
Whereas rewardStyle is mum about what main new options are within the pipeline, count on to see an acceleration of the shift to cell gross sales. In 2017 a complete of 24% of rewardStyle’s gross sales will come from their cell platform LIKEtoKNOW.it, up from 15% final 12 months.