With the advent of the internet and social media, consumers around the world prefer to make their buying decisions online. They look for recommendations from some experts in the digital world and prefer to initiate purchases accordingly.
Across Asia in 2018, payments via mobile devices increased in volume by 30% as consumers developed greater comfort with ecommerce transactions; millennials being the key drivers of this behaviour. Reports reveal that 70% of YouTube audiences follow advice on what to buy from their favourite YouTuber. This is why many big brands prefer to collaborate with these influencers to promote their products in the market. As an influencer, when you believe that people are going to buy products endorsed by you, why not present them the products that have been designed by you only; right from start to finish. Yeah! It is more authentic for an influencer to push their own brand as opposed to a brand they are paid to endorse.
FlashFomo is the location for influencers to marry their creativity with product, working with FlashFomo to turn their followers into consumers. FlashFomo works in partnership with influencers across Asia to realise the fullness of their economic potential via made to order product releases, with influencers incentivised under a profit sharing model. To date they have worked with influencers who access over 28M Asian consumers. FlashFomo creates sales, not ‘Likes’.
FlashFomo’s leadership team comes equipped with years of experience working within the influencer ecosystem in Asia; CEO and Founder David Nicholls was previously the General Manager at Brave Bison PLC (APAC) and CEO WebTVAsia (Australia). They are best placed as pioneers in the latest frontier of influencer marketing to take the industry to new heights. They have built a marketplace that exists in a 14 day time restricted window to fast track and focus purchasing decisions. The flash sales model works well in their target markets especially as Asian consumers are accustomed to time restricted manufactured marketplaces, with Singles Day and Black Friday shaping consumer behavior. Early signs from consumers point to a new wave of consumer marketing from their favourite social celebrities.
FlashFomo are currently active in China, Korea, Japan, Thailand, The Philippines & Australia. These professionals focus on a new source of revenue for influencers to monetise and create longevity. They have won several awards on projects that gained popularity worldwide. In 2019, they were awarded Winning Pitch at the Startup Grind APAC Conference. In 2020, they were selected in the top 1.5% of Global Startups at Startup Grind Silicon Valley. Recently, they received great rewards and appreciation as part of the 2020 China Accelerator Program run by SOSV.
You can find quick highlights about their work via this YouTube Video: https://youtu.be/Wp-PVMXNZAc
If you are an influencer collaborating with big brands, it is the right time to launch your own product into the market. You can contact professionals at FlashFomo to create a new model for generating revenue as an influencer.
FlashFomo is an online marketplace for Asian Social Influencers to create and sell personalised products to their fans via flash sales. The social commerce sector in Asia is growing exponentially. There are currently 1.7Bn Social Media Users in Asia, growing at a rate of 14% YoY. Within this growing ecosystem, influencers possess unique power, with 70% of audiences being influenced on what to buy from their favourite YouTuber. FlashFomo is the location for influencers to marry their creativity with products. FlashFomo reaches a network of over 12,500 KOL’s in Asia, totalling more than 1bn fans. They connect these influencers with over 1,000+ manufacturers by automating the product selection, creative process & facilitating fulfilment.
In order to know more about FlashFomo and their mission, we asked a few questions to the CEO and Founder, David Nicholls:
Q. What inspired you to work in this direction, and what is the prime mission of your company?
A. The prime mission of this company is to create a new source of revenue for social influencers. We want to democratise the manufacturing and brand building industries for the core group of people that can hold a consumers attention. Think of influencers as an old school ad network. They provide an engaged and repetitive audience however when you include the influencers in the revenue split the customer acquisition cost is $0. Therefore we are redefining consumer marketing funnels in a cost effective manner. The inspiration came about from representing influencers to attain branded content deals, during peak e-commerce periods such as Singles Day & Black Friday our influencers were often approached by manufacturers or brands to promote their products for exorbitant fees. Something tweaked and I thought if brands put so much emphasis on utilising this form of media distribution there must be a business case to be made to disintermediate the brand and help the influencers create their own custom brands for the loyal fans.
Q. What kind of products influencers can think of launching online?
A. The products we backfill into our system are highly vetted, on trend & solve problems from eco friendly solutions to niche organisational hacks for customers. We have capability to deliver products that solve problems to a variety categories including but not limited to: Eco-Friendly Smallgoods, Travel Accessories, Toys, Baby Products, Beauty, Skincare and Cosmetics, Novelty Products, Pet Products, Homeware, Digital Goods (Apps, Gaming, Filters, Stickers), Office Stationery, Fashion & Fashion Accessories, Sporting & Outdoor Equipment
Q. How long does it take to generate revenues when promoting your own products?
A. If you utilise our platform it can take 5 minutes to select a product, design the product, design the packaging, connect with a verified manufacturer and insert content to personalise an e-commerce page for an influencer. That said, depending on how much time the influencer decides to spend on design & sampling it can take up to 2 months to receive multiple revisions and samples. Our platform democratises the process for all influencers that have the ability to sell products to their fans.