Regardless of whether you are talking about Facebook, Instagram, Twitter, Vkontakte (Russia), or others, social network businesses still see millions upon millions of potential customers ahead. Russian Flocktory has attempted to provide a partial solution to soothe this desire for selling more via social networks by offering customers an incentive to become ambassadors for the business.
Offering discounts and other rewards, businesses are able to drive sales by encouraging customers to bring in their friends or by completing certain tasks.
Flocktory provides a system that allows businesses to target customers (or potential customers) at the pre-checkout, post-checkout, and exchange stages., and this comes for a price of $500 (and up).
At the pre-checkout stage, the business hopes to encourage the customer to complete a positive action (for the store). At this stage, businesses are able to offer incentives to visitors who recommend the store in the hopes of making a sale. Even if the visitor does not buy, Flocktory claims that an average of 4 new potential customers are driven to the store through the recommendation.
At the post-checkout stage, the store hopes for repeat business and new potential customers. Again, customers may be offered a discount if they manage to refer a friend to the business. Finally, Flocktory offers an “exchange” program, through which their customers can partner with one another to drive sales by offering incentives and special programs.
Data is everything in the current world of technology, as companies have better access than ever to information on the behavior and characteristics of their customers. Flocktory aims to help its customers in this area by offering their analytics system, which allows businesses to measure their success against industry benchmarks, offer information about the demographics of their consumers, and identify influential customers.
One of the highlights of the Flocktory system is that businesses are able to offer promo codes to customers and then track as the codes are shared. In theory, businesses then have access to information that they need to alter and improve their decision-making process. According to company evangelist Dmitriy Lushnikov, Flocktory has already analyzed more than 30 million transactions and collected data on more than 9 million social-network profiles.
Flocktory was founded in 2012 by Simon Proekt , Ilja Eisen, and Dmitry Matskevich and is backed by $1.72 million in funding from Digital Ventures. It has a fairly solid clientele in Russia at the moment. The company claims over 500 clients in total, including brands such as, S7 Airlines, Oktogo, LaModa, Svyaznoy, and others. Lushnikov tells me that competitors include Russian rivals Get4Click and Sosidka, as well as international companies like Extole and CureBit.