Built to democratize the Creator Economy, new features enable authentic shopping experiences, empower content monetization
LOS ANGELES, Dec. 03, 2021 (GLOBE NEWSWIRE) -- FLIP, the social commerce beauty retailer, today announced the launch of monetized video reviews and a creator dashboard. The features will grant all users, regardless of their social following, the opportunity to monetize their video reviews based on engagement and purchases completed through their reviews.
FLIP’s creator dashboard will allow users to manage content and offer in-depth engagement statistics to gauge how each video performs. Creators can now track the income they’re generating directly on the app, backed by valuable engagement metrics, including video views, time watched, add to cart, sales conversions, and more, allowing them to tailor future content accordingly. FLIP users who create engaging reviews can monetize content and redeem earnings for FLIP credits or transfer funds into their bank account.
FLIP’s creator tools mark a seismic shift towards a decentralized model. Most social media companies were built around sharing content and were not set up for creators to build their businesses and monetize organically. As a result, the majority of creator revenues are generated indirectly through sponsored brand deals, with less than 5% spurring from direct revenue sharing. vastly limiting the upside opportunity for most creators. FLIP was built with creators at the center. This focal point enables them to monetize and grow alongside FLIP, without the need for third-party deals or sponsorships. This approach aligns FLIP's incentives with creators, democratizing access across the platform.
“Until now, social media companies created avenues for users to build an audience, and that’s where the opportunity ended," said Noor Agha, Co-Founder and CEO of FLIP. "By building a platform around creators and introducing dedicated monetization tools, we’ve leveled the playing field. We’re setting up the platform for all users to be able to share their voice, skill, or expertise and monetize their creation instantly, without needing an elite following or acceptance into a creator fund.”
A shopping platform powered by creators, FLIP was designed to be the destination for authenticity and counter the lack of credibility of today’s social platforms. FLIP creators are fully incentivized to choose the products they purchase and review and are incentivized to express their own unfiltered opinions, drawing real value for users and brands across the platform.
“The beauty and personal care industry has undergone a dramatic shift, with shoppers’ research and discovery starting on social media. But when influencers praise every product they review, how do you know who to believe?” continued Noor Agha. “When the success of a creator becomes dependent on the value of what they share instead of pristine images, you end up with a platform rooted in authenticity and radical honesty. We’re building a platform to become your first destination to search for authentic reviews of products that are instantly shoppable with a one-click checkout.”
FLIP’s new creator dashboard provides creators with a ‘plug and play’ solution to focus on what they do best, without the need for side tools to analyze, manage, and monetize their content. With these embedded in-app features, creators can shift their time and attention to sharing their experiences, while the platform handles everything else on their behalf.
These features build on a period of continued momentum, as FLIP rapidly expands its brand offerings and user experience. In August 2021, FLIP announced a $28 million Series A funding round led by Streamlined Ventures, with support from Mubadala Capital and BDMI. The platform is onboarding new brands every day and is on track to offer over 400 brands by the end of the year. Brands that have joined FLIP include Surratt Beauty, Too Faced, Hourglass, Covergirl, philosophy, Youth to the People, Supergoop, Dennis Gross, Murad, and many others.
For more information, visit www.flip.shop.
FLIP is a discovery-to-purchase social commerce platform delivering a revolutionary new beauty shopping experience in the US. Users can discover and purchase beauty and wellness products by flipping through social-media-style content created by other users. FLIP’s patented technology allows shoppers to post video reviews of their purchases or create shoppable live shows; receive commissions based on sales made from their posts; and have access to real-time data on post-performance. FLIP also provides brands with full service, back-end support, and offers free, same-day shipping; seamless returns; and best-in-class customer service straight from the app.
Based in Los Angeles, FLIP was founded in 2021 by serial entrepreneur and ecommerce veteran Nooruldeen “Noor” Agha. To learn more about the company, visit www.flip.shop.
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