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Ekkofy

AFFILIATE SOFTWARE, AN AFFILIATE MARKETPLACE, AND A REFERRAL

Colombia
Market: Internet and IT, Other, Mobile applications
Stage of the project: Operating business

Date of last change: 22.08.2022
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Idea

Ekkofy activates the power of word of mouth for brands to create a new marketing and sales channel based on community referral performance, delivering benefits and commissions!

Current Status

Past 8 months: 1492% conversions, 50+ Brands, 29,17 LTV/CAC Ratio, 10000+ downloads , 1000+ active users, 308% growth active users, 35.000+ Qualified leads generated. Recurring revenue $5.000 USD.

Problem or Opportunity

Brands are wasting money by choosing inefficient advertising channels to generate word of mouth marketing.
Brands are forced to generate WOM indirectly, with no control or data, no evidence of referrals, no lead generation, and no connection to point of sale.
Also, people are the main vehicle in WOM, but they are not attributed as a recurrent advertising channel, by receiving effective rewards and commissions based on their performance.

Solution (product or service)

Ekkofy activates the power of word of mouth to create a new marketing and sales channel based on community performance, delivering benefits and commissions!
1. Unique end to end marketing technology connecting referral software, affiliate marketplace and community advocates.
2. Complete tracking of referrals and missions generating qualified leads and sales, integrated to offline and online points of sale.
3. Performance based attribution of rewards and commissions completely integrated to banking system.

Competitors

Existing Alternatives

Referral as a service Software
Referral as a service software creates egocentric referral programs. This has many limitations, because it becomes an egocentric approach from brands to customers when it comes to referrals. A person can only recommend within the brand ecosystem, limiting the reach and rewards with own product. This addresses only part of the opportunity. Word of mouth programs have to be available outside the brand ecosystem to increase reach, and incentive potential customers based on their habits or needs. The reward system should be based on the referrer´s need, not only the brand´s need. People do not have to be part of 10 different referral programs with ten different technologies to receive rewards, in ten different "currencies" for recommending them.

2. Word of mouth is important for every business sector, every brand, every merchant. or a simple shop. Referrals as a service assume that every brand has robust technology to integrate the software. The referral and affiliate programs have to be adaptable to any kind of brand and any kind of point of sale.
3. When we talk about traditional Brand promoters, they are extremely expensive for what they achieve, in reach, impact, and conversions for the brands. Same as competitors like influencers, that only measure part of their impact. This leaves the brand with only part of the word of mouth marketing funnel measurement.
4. Organized word of mouth has the potential to become the first democratized advertising channel, leaving a good part of the cost within the community.

Finance

1. Basic Monthly subscription: USD 99 (UpSell - 29 USD for every additional campaign)
2. Premium Monthly subscription: USD 599
3. Pay per Lead: USD 1 for every certified lead information.
4. Unlimited data monthly access: USD 1000.
5. Ekkommunity: External affiliate and ambassador community. 1 USD per person, Commission for every new transaction.

Business model

Monthly fee + Commission
A. $50 monthly fee + 5% Commission
B. $399 monthly fee + 3% Commission
C. $599 monthly fee + 2% Commission

Team or Management

Incubation/Acceleration programs accomplishment

New Chip, Platzi
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Idea
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Finance
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