indaHash Deal Alpha Test Results & Product Status!
In accordance with our roadmap, on 30.08.2018 we launched our new project, in its alpha version, aiming to tokenize the influencer marketing industry. After a month of closed tests with real clients, influencers and campaigns we’re thrilled to share various insights we believe will be interesting for you.
To give you a small reminder, indaHash Deal is a completely new and revolutionary business model based on a barter economy. Instead of paying influencers to post, brands are giving influencers a discount on a product or service in order to receive a review and post on influencers’ social media accounts. The business model here is SaaS subscription for brands and a tangible discount for the influencer who actually pays a given amount of money for a product or service and does not receive something as a free give-away due to having to make a post about the product or service on their social media account.
Please check out this video on how indaHash Deal works:
Our actions and main stats:
- We’ve launched 16 campaigns for 16 brands during the alpha mode with real clients and influencers
- In total, brands received 1573 influencer submissions to said campaigns which is around 98 influencer submissions per 1 campaign
- The average approval rate by a brand is around 60%, so from 98 influencers who applied around 59 influencers were approved by the brand
- The average conversion rate from approved influencers to influencers who actually bought the product has been around 35%, so out of 59 influencers, on average who were approved, 21 influencers actually bought the product and published a post with a review
- We’ve seen tremendous interest from the influencers’ side in terms of the new barter campaign business model
- Brands were able to create a campaign in a self-serve model and therefore our support in the actual set-up and delivery was not required
- We perceive the average amount of applications, approvals and actual shopping rate as very high and healthy
- The published content and review quality was higher with barter campaigns vs regular paid campaigns (where influencers are paid to publish)
Clients quotes during the tests:
“indaHash Deal generated an enormous amount of interest from influencers in our products. indaHash Deal campaign generated a significant amount of sales for us as we also have a discount for influencers’ followers. In my opinion it would be a great return on investment for all kinds of e-commerce businesses. I would recommend this tool for all e-commerce businesses interested in building new sales channels and engaging influencers in an automated and systematic way.”
Monika Zochowska, CEO of Glov
“We started our campaign a few weeks ago and received more than 200 submissions from female influencers interested in our dresses. It didn’t require any contact with influencers or manual work. Just created a simple campaign with a short task for influencers to promote our product. We think it’s a revolutionary way to cooperate with influencers on a transparent basis.”
Wojciech Czernecki, CEO of Sugarfree
“Our company created a very specific product for moms and their newborns. We’ve struggled for a long time to find an easy and scalable way to work with influencer- moms and interest them in our toys. indaHash Deal opened a new chapter in our marketing activities. We’ve received more than 100 submissions from influencers and they generated really beautiful and engaging reviews driving our sales and awareness. Now I’m waiting for a possibility to run international campaigns for our brand.”
Zuzanna Sielicka, CEO Whisbear
- With the start of indaHash Deal campaigns we’ve started gathering feedback from both brands and influencers. We’ve been able to resolve 65 issues out of 95 created including new features, improvements and bug fixes. We’re still improving the platform heavily to deliver the best possible solution for our users
- In the first week of October 2018 we’re opening the platform in the United States, the United Kingdom & Germany and we’ll start the international campaigns (the same product campaign running for influencers in different countries)
- By the end of October we’re planning to launch subscription plans for our clients running the campaigns with the freemium model
- By the end of November we plan to roll out indaHash Deal to all countries where indaHash has offices; being the USA, the UK, Germany, Dubai, Poland, Japan, the Republic of South Africa and Singapore
- In 1Q19 we’re planning to roll out indaHash Deal to all countries where we have social influencer coverage (more than 80 countries)
indaHash Coin planned integration key insights:
Key market requirements:
- A crypto-payment solution should provide incentives for brands and influencers in order to actually be used
- In order to create a payment solution dedicated to influencers, brands must be sure that the actual discounted product buyer is an influencer
- A crypto-payment solution should also be easy to use and not require any tech/dev knowledge
- Brands should have a guarantee that a person applying for a discount will actually publish a post, to prevent frauds
- Brands should be able to verify who is applying for a discount in exchange for a post as well as be able to approve or reject their submissions
indaHash Coin value proposition for indaHash Deal:
- The indaHash app is a place where every single influencer is verified that he/she is an actual social media profile account owner – so it holds a guarantor role only allowing previously approved influencers to use the indaHash Deal project
- indaHash Coin (IDH) is a payment method dedicated exclusively for influencers verified in the indaHash app, so simply holding indaHash Coin (IDH) is not enough to use the platform
- An incentive for the influencer is having access to qualitative and exclusive products with high discounts (even up to 60-90%) that are not available for any other Internet users
- Incentives for a brand are, but not limited to, access to premium buyers with a high social impact, opening a new sales channel and attracting new customers
- An incentive to install an indaHash Coin (IDH) payment widget for brands is access to the highest subscription package for them (6 months after installation)
- indaHash Coin (IDH) payments for products will be conducted in and based on an influencer wallet within the indaHash app with automatic payments based on an approval code so no crypto-related knowledge will be required
- As the payments will be conducted exclusively via the indaHash app there is no possibility to sell the discounted products to non-influencer accounts and therefore fraud possibilities are minimized
- To educate influencers on use of cryptocurrency transactions within the platform, with the first product payment made with indaHash Coin (IDH), said influencers will receive a 10% indaHash Coin (IDH) bonus to their top-up
We will present more on the flow of indaHash Coin between each party and share further insights as to how this crucial aspect is developing within indaHash Deal in the future!
We feel that we’ve invented a completely unique and new business model that has already proved its usability and value for both clients and influencers. Now we’re working hard to improve the product and roll it out on all the markets where indaHash is active to grow the scale and create universal solutions for all brands and influencers worldwide. We’ll keep updating you every month on the progress.
Thank you for your time and patience!