Superfiliate delivers the social commerce experience
Superfiliate, a software platform that develops co-branded landing pages for customers and creators, wants to offer a more seamless shopping experience on social media and other channels.
Why it matters: With merchants estimated to lose $29 for each new customer acquired, brands are looking for ways to stretch their dollars.
What they’re saying: “Entertainment and commerce don’t live well together,” says Drew Leahy, managing partner of Superfiliate investor Hawke Ventures.
- This is part of why social media platforms — often used for discovery or entertainment — haven’t seen much success with their shopping efforts, he adds.
- “There has to be an intent there,” coming from consumers, he observes, because they may not want to buy something right then and there.
- Bringing consumers onto a different page, off-platform makes them feel like it's “native to the content, while also being easy” to checkout, garnering more success for the retailer or brand, Leahy mentions.
How it works: Los Angeles-based Superfiliate turns legacy affiliate links and referral codes into personalized shopping experiences through a co-branded landing page.
- Brands decide how the page will look, what products to showcase, and which content to feature.
- Creators and brand ambassadors can offer up reviews and other content for those landing pages, allowing them to tell their own stories about the brand and the products.
- “Whether it's a brand ambassador, an influencer, a customer, they can all use this system to generate referrals and ultimately generate business,” Leahy adds.
By the numbers: The company says it has seen a conversion rate lift of 31% over the baseline in its preliminary testing.
- “It drastically improves marketing efficiency and reduces [cost-per-actions] which are critical metrics for brands these days,” Superfiliate CEO Andy Cloyd tells Axios in an email.
- The company doubled its customer count in the first quarter to more than 50 merchants, with a target to reach more than 200 by year’s end.
Catch up fast: Earlier this year, the company raised seed funding, $2.5 million of which was led by Hawke Ventures and Vanterra Ventures, Cloyd says.
- R2 Ventures led its $1 million pre-seed round, with participation from Revolution's Rise of the Rest Seed Fund and Clocktower Technology Ventures.
- This will give the company more than 30 months of runway, Cloyd adds.
What’s next: The company plans to build its product, engineering, and design teams, as well as its go-to-market talent, including adding to the fold a head of merchant strategy and success, and a head of influencer and affiliate.