India’s largest influencer and content platform for women, momspresso.com, has launched MyMo – India’s only shopping card exclusively for influencers. The innovative project has been launched by Momspresso in partnership with Falcon and Yes Bank Ltd.
The MyMo card creates a win-win by connecting influencers and brands to achieve meaningful outcomes for both. The tech platform enables influencers to unlock the power of their social influence in three simple steps. Those who have more than 3000 followers can shop for D2C brands of their choice through MyMo app. They can then post about the purchase on Instagram and get up to 100% cashback. They can also benefit from choosing the brands that they endorse. Brands, on the other hand, can acquire new customers as a result. Brands can also create word-of-mouth awareness at scale, under 1x of their Average Order Value (AOV). This helps reduce their Customer Acquisition Cost (CAC) significantly, leading to increased profits.
MyMo offers a compelling proposition both for influencers and brands. Influencers can use their social influence to unlock up to 100% cashback on their purchases, while brands acquire new influencers when their products are purchased by the influencers and promoted on social media. It helps brands achieve awareness by word-of-mouth, at about 25-50% of their current customer acquisition cost.
As more than 6500 influencers have signed up for the pre-launch waiting list, and close to 100 brands across 9 categories are a part of this project, having already been listed on the MyMo app, early signs of MyMo’s immense potential are evident.
MyMo has partnered with leading D2C brands like Urban Company, The Derma Co., mCaffine, Mamaearth, boAt, Lenskart, BBlunt, among others, across categories ranging from personal care and apparel to electronics and durables.
Influencer marketing has helped transform the traditional word-of-mouth technique for creating brand awareness from a mere promotional tactic to a sales-guaranteed tactic. With Momspresso’s new project, influencer marketing can help brands achieve more success while helping influencers save money on their purchases as well. It is a win-win for brands and influencers.
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