Mavely, the technology platform that addresses the issue of rising customer acquisition costs and customer lifetime value for e-commerce brands, has announced the launch of Social Sales Teams. With more than 25,000 sellers already on the Mavely platform, the business-to-business offering enables digital retailers to create their own dedicated sales teams.
The addition of Social Sales Teams to the Mavely platform will serve to address the rising costs of customer acquisition that more and more e-commerce brands are facing as regulations evolve within the digital landscape. Specifically, Mavely notes pain points including an increased difficulty to run effective ads, an uptick of digital-only brands and a growing gap in influencer marketing. According to the company, the new offering will tackle heightened demand for consumers and retailers, alike, through a gig economy model and also provides a tactical solution to engage the 5 to 10 percent of a brand’s most loyal customers to enable tapping into the social commerce industry.
Notably, the launch coincides with a huge moment of growth for Mavely, which experienced an average of 10 times growth in sellers on its platform and an average of 20 percent month-over-month growth in brand partners since March 2020. In a statement, the company noted that the announcement of the Social Sales Teams offering is a natural next step as it “continues to challenge digital marketing norms and lead the industry by example, ultimately empowering social sellers to become a brand’s best asset.”
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“As digital advertising costs continue to skyrocket across social platforms, many e-commerce brands are looking for alternative channels of revenue growth and customer acquisition,” said Evan Wray, cofounder of Mavely. “This is exactly what we are solving for with our new Social Sales Teams offering. We’re seeing a five-year acceleration of e-commerce in a shortened period of time due to the pandemic and Mavely is providing a much-needed alternative channel for digital retailers.”
By working with each retail partner individually, Mavely works to launch and manage Social Sales Teams and create unique incentive programs to drive revenue and earn new customers from sellers to opt-in. Mavely’s Social Sales Teams is launching with partners including M.Gemi, Olipo, Thryve and Daily GEM. In beta testing, which took place over the last six months, brands received more than 2,000 dedicated sellers and reported having a consistent three times increase in lifetime value and a 25 percent decrease in overall customer acquisition cost since joining the program.
“The Mavely technology has allowed us to easily empower over 2,000 of our customers to be a social sales team for our brand with our M.Gemi Partners Program,” said Heather Kaminetsky, chief brand officer of M.Gemi. “Not only do these M.Gemi Partners drive revenue and new customers through their sharing of products, but they have created a deep community connection to our brand, helping inform product decisions as we grow.”
Looking ahead to the second quarter of 2021, Mavely plans to have more than 250 brands on its platform, including dozens on its Social Sales Team product specifically.
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