MyMo Card allows Influencers to encash the power of their social influence, by getting up to 100% cashback on brands they purchase
Enables DTC brands to acquire users and get Word of Mouth at less than 50% of Average Order Value
Tech platform creates a win-win for Influencers and Brands
Momspresso.com, India’s largest content and influencer platform for women has launched MyMo – India’s only shopping card exclusively for Influencers. The brand has partnered with Falcon and Yes Bank Limited to launch this innovative product.
The MyMo card is part of a tech platform that creates a ‘win-win’ by connecting influencers and brands to achieve meaningful outcomes for both stakeholders. The MyMo card enables influencers to unlock the power of their social influence in 3 simple steps. Influencers with more than 3000 followers can SHOP D2C brands of their choice through the MyMo app, POST about their purchase on Instagram and SAVE by getting up to a 100% cashback. Influencers have the added benefit of choosing the brands they choose to endorse. Brands, on the other hand, acquire a customer as well as creating word of mouth awareness at scale, at under 1X of their average order value (AOV). This reduces their cost of customer acquisition (CAC) significantly, leading to increased profitability.
Speaking on the launch, Vishal Gupta, Co-Founder & CEO, Momspresso.com, said, "MyMo is a potentially disruptive platform because it offers a compelling proposition for both Influencers and Brands. While Influencers can leverage their social influence to unlock up to 100% cashback on brands they purchase, Brands are able to acquire an Influencer and get Word of Mouth at scale, at about 25-50% of their current cost. With more than 6500 Influencers signing up for the pre-launch waitlist and close to 100 brands, across 9 categories, already listed on the MyMo app, we are witnessing early signs of MyMo’s immense potential.”
MyMo has partnered with leading DTC brands such as Mamaearth, The Derma Co, Lenskart, mCaffeine, Urban Company, boat, BBlunt and many others, across categories ranging from personal care and apparel to electronics and durables.
"Influencer marketing has opened a new horizon to transform the longstanding word of mouth technique from a mere promotion tactic to a sales-guaranteed method. We are excited to tap into this new area of marketing. We hope that our collaboration with Momspresso.com will make us emerge as leaders in the field," Prabhtej Bhatia, Founder Falcon said.