Place/Date: - July 2nd, 2020 at 9:35 am UTC · 3 min read
Contact: WOM Protocol, Source: WOM Protocol
WOM Protocol, a blockchain based martech solution that enables advertisers to leverage authenticated product recommendations, has just announced another expansion within the WOM Ecosystem. Mycashbacks.com, a European platform with more than 2000 active shops, will soon offer their 24,000 registered users to receive WOM Token rewards for honest word-of-mouth recommendations.
Mycashback customers will be able to create video recommendations of products they purchased and add WOM Token rewards in addition to their cash rewards. This is made possible through a web-based video recording tool, developed by WOM Protocol’s partner YEAY.
Once customers decide to create a video recommendation, their content gets validated through the WOM authenticator and will then be available to display on e-commerce sites or social media. Customers will receive WOM Token rewards based on the interactions their video recommendation generates. In turn, merchants are incentivized to share these recommendations as a form of marketing that does not compromise consumer trust.
92% of consumers believe suggestions from word-of-mouth more than advertising. (Nielsen)
WOM Protocol’s Founder and CEO Melanie Mohr:
“We truly believe that the future of e-commerce is social commerce. The web-based video recorder developed by YEAY is a turn-key solution. The merchant or e-commerce platform does not have to build a content creator tool, nor to host the content in a content management system. The WOM Protocol takes care of the fair reward distribution for every authentic recommendation created by a product loving customer.”
mycashbacks CEO Marc Majewski:
“Mycashbacks.com wants to deliver the best way for customers to get rewarded for their loyalty. Loyalty goes beyond purchasing a product over and over. Our customers share their experiences with friends and family. Now we are able to offer them a new way to monetize their efforts to spread the word.”
WOM Protocol enables the monetization of word-of-mouth (WOM) recommendations for brands, creators, and publishers. The WOM Protocol is live and being tested with more than 900 brands including Adidas and platforms with a network of hundreds of thousands of creators and authenticators. The WOM Protocol is targeting the $335 billion annual digital marketing spend, by becoming the main marketing channel for brands and main revenue stream for content platforms. Backed by dozens of seasoned investors from around the world.
YEAY GmbH and the YEAY app – the leading video-based recommendation app with a global network of creative, active, and predominantly GenZ & Millennial users. The app lets users create honest recommendation videos and get rewarded for their content. In addition, users can discover lifestyle trends through the feed. Brands benefit from user-generated product recommendations and creators earn WOM Tokens as rewards for the value driven by their videos.
Mycashbacks rewards their users for online purchases, by receiving cash back instead of collecting “points”. The trading partners involved are over 2000 shops with thousands of products. The reward comes directly from the retailer and is paid out to users as part of the affiliate commission.