Franky Bernstein, the Venice, California-based serial business owner, knows marketing. At his last startup, Markett, Bernstein turned college students into brand name ambassadors who were paid by the business they repped for proselytizing about them on schools. Now he’s utilizing that understanding to launch Kickback on iOS and Android. It’s invite-only at this point, however the concept is that it utilizes business ‘marketing budget plans to develop shopping benefits and incentives for app users. In the very same way that Markett turned college students into supporters for apps like Uber and Lyft, Kickback will turn consumers into brand name ambassadors through its app. In-app recommendations and discounts for shopping are nothing new to the e-commerce world.
In China, apps like Pinduoduo have turned into billion-dollar businesses on the strength of recommendations. Certainly, Pinduoduo recently raised $1.1 billion in funding to strike an evaluation of almost $100 billion.
It was only a matter of time before an American company tried to copy its success. Kickback– like a lot of new apps these days– is invite-only.
When past the waiting list, users get discount rates on brands and can earn cash-back rewards when they go shopping or when they encourage their good friends to buy something with the app.
Up until now brand names on the app include Walmart, Sam’s Club, Nike, Alo Yoga, Reebok, Away, World Blue, Sonos, Winc, Postmates, Casper, Kate Somerville, Lacoste and Columbia. Users get discounts or cash rewards when they shop and make “kickbacks” when they welcome somebody to shop utilizing their discount rate code. Money rewards can be withdrawn utilizing PayPal, according to a declaration.
“Our objective is to take the billions of dollars brands spend on marketing and put that money directly into the pockets of the people,” said Franky Bernstein, founder and CEO of Kickback, in a declaration. “Brand names understand the most effective form of marketing is word of mouth. We like to state that individuals are 100% more likely to go on a very first date, enjoy a motion picture or, in our case, attempt a brand-new product and services if a good friend tells them about it. People have constantly liked sharing their favorite products and services with their friends. Now with Kickback, they make money for it.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.