AMAZON & EBAY
“Monetary Energy” is fiat currencies such as USD,EUR, GBP, AUD and many more. However, there are also intangible energies and values that today are hard to monetise, incentivise and connect to such as Brand Loyalty, Followers, Likes, Micro Tipping, Recommendations, Reviews Goodwill, Influencer Status Network etc. For example for any business today to incentivize a customer to give a positive review is hard using monetary energy alone. As humans we don’t want to be paid money to give a good review. There must exist some intangible energy or “LOVE” between the customer and the brand or business.
Selling through Amazon or Ebay costs 10-20% in commission and price competition is fierceful. Customers normally don’t know the sellers and hardly any intangible energy exists such as loyalty, recommendations or goodwill. Amazon and Ebay Reviews have been diluted and it is relatively easy for new sellers to get five stars after a few successful deliveries. Centralized platforms cut into margins and attracting bargain hunters due to high price competition.
Ecommerce on Social Media (Social Shopping)
The monetary value of connecting to or controlling “intangible energy” is enormous. 93% of all purchases today are online review-based or through word of mouth, and yet it’s hard to incentivise these and customers are more likely to leave a bad review after a bad experience than a good review after a good experience. Another interesting fact is that Influencers deliver 11x higher ROI than other forms of digital marketing due to its low cost and its inherent credibility. While word of mouth is still one of the most cost efficient ways of marketing for businesses it is hard to incentivise it. Best of all, selling direct on social media means there is no need to pay commission to a centralized platform.
Ecommerce is changing to Social Shopping
Not only the financial markets are changing. Ecommerce is changing as well. Social shopping is one of the fastest growing areas of ecommerce and the market size is expected to reach USD 3,369 trillion by 2028, according to a study conducted by Grand View Research, Inc*. “Social shopping” is the incorporation of social media and e-commerce, which is used for selling and promoting products and services online.
*Social Commerce Market Size Worth $3,369 Trillion By 2028 | CAGR 28.4%: Grand View Research, Inc.
Social Shopping + LOVE = LOVEFY
Lovefy.com provides a new innovative social-shopping revenue model to influencers. The platform works as an alternative or addition to traditional affiliate networks. Followers can buy directly from brands and businesses they love at discounts and Influencers can earn LOVE when promoting a brand or business picked on the Lovefy marketplace on their social network.
LOVE can easily be exchanged to any fiat currency in the Lovefy wallet. LOVE can also be spent, saved and held for future use. Businesses or brands can buy LOVE to get their brand or business promoted and use Lovefy SEARCH to connect to over 1 million influencers in 89 countries.
Lovefy.com is a complete social shopping ecosystem integrating e-commerce, influencer marketing and crypto currency. Additionally LOVE can be used as micro rewards, donations or loyalty programs.
“The sixth annual ‘For Love or Money’ study revealed that Millennials are more interested in cryptocurrency than rewards and loyalty points.”
The “For Love or Money Study” was conducted by The Point of Loyalty
Monetary Energy versus Intangible Energy
Why sell using intangible energy?
It is six to seven times more expensive to attract a new customer using monetary energy than it is to attract a new customer using intangible energy in a social network.
Customers in trusted social networks spend 67% more than customers acquired outside social networks.
For businesses that increase customers from social networks by just 5% may boost profits by 25 to 95 percent.
87% of customers rely on social media reviews to make a shopping decision.
This is the first decentralized ecosystem anyone can earn directly with the brands they “love” just through emotion and connect with a new innovative social-shopping revenue model. Customers earn LOVE as loyalty rewards and can be exchanged to any fiat currency. Love.io protocol aims to take the lead through the current provision of ecommerce shift to a social shopping based marketplace powered by blockchain technology.
Lovefy.com has built a global influencer search engine currently with a database of over 1 million influencers in 89 countries. Companies, brands and businesses can search influencers that are targeting their audience locally or internationally to get their business promoted. Influencers can either earn in LOVE or be paid in any fiat currency of their choice. Whether it is a multinational brand, Shopify shop, local shop or business can build influencer marketing or social shopping campaigns with LOVEFY SEARCH
Lovefy.com marketplace displays today over 100,000 products and Loved brands such as Burberry Calvin Klein Christian Dior Dolce & Gabbana Elizabeth Arden Giorgio Armani Givenchy Gucci Guerlain Hugo Boss Jimmy Choo Ralph Lauren Versace and Yves Saint Laurent and many more. On the marketplace users can buy “LOVED” products or services and receive LOVE cryptocurrency in cashbacks. For every purchase, customers receive cashback in cryptocurrency. LOVE tokens are exchangeable to various cryptocurrencies, or VISA/MasterCard.
Lovefy Inc is currently in the development phase to create the world’s first largest verified database of influencers integrated with their “loved” products and services. It will provide an end-to-end Data driven influencer marketing and social shopping tool powered by blockchain technology. At release any company or business can list products and services to be “loved” and sold by influencers in 89 countries.