Celebrating 18 years of excellence, the Performance Marketing Awards (PMA) returns tonight to London's glamorous Grosvenor House to celebrate outstanding achievements in affiliate marketing and performance media.
This year, PMA is partnering with WeShop, the world's first community-owned social e-commerce platform.
WeShop is revolutionizing online shopping by creating a fully shoppable community. As the world's first shoppable social network, 90% community-owned, we connect customers with diverse interests to trusted individuals like shoppers, reviewers, and trendsetters. Users can share their knowledge, get paid, and get inspired about interiors, fashion, electronics, health, beauty, and more.
The platform is also disrupting the space by innovating a completely new affiliate model, which we welcome. More details later.
we sat together james foxThe Head of Commercial at WeShop talks about the company's unique services, the challenges of bringing new models to market, what affiliate trends he's watching, and why WeShop is sponsoring PMA this year. I learned more about what happened.
Let's get started.
HP: WeShop is boldly introducing a completely new affiliate model to the market. Could you please explain what “shareback” is?
JF: WeShop's ShareBack™️ is a pioneering loyalty program that helps all members be part of our success story. It revolutionizes the traditional affiliate model by rewarding every engagement, whether it's shopping, sharing, or inviting others with stock in your company. This unique approach not only benefits users, but also makes them stakeholders in the platform's success. ShareBack encourages community participation and fosters a sense of ownership, creating bonds of loyalty that are truly empowering.
HP: What are the challenges and opportunities involved in bringing a new model to market, like We Shop?
JF: There are challenges and opportunities with introducing new affiliate models like ShareBack. On the other hand, WeShop needs to induce consumer awareness and understanding of this novel concept. Education and communication are essential to ensure users understand her ShareBack value proposition and how it works. Additionally, strategic positioning and marketing efforts are required to establish trust and confidence in the market, especially with existing players. But there is an opportunity to disrupt the affiliate landscape by offering a unique value proposition that resonates with modern consumers' desire for meaningful engagement and ownership. By delivering on the promise of innovative rewards and community involvement, WeShop is able to carve out a niche and attract a loyal user base. The Company recognizes the risks associated with this strategy, including potential resistance from traditional affiliate models and regulatory challenges. To mitigate these risks, we have implemented a comprehensive communications and education plan and actively engage with regulatory agencies to ensure compliance and foster a supportive regulatory environment.
HP: You mentioned that you focus on stocks and stocks. How does WeShop navigate this aspect of the market and what strategies does it have in place to take advantage of it?
JF: WeShop's approach to the stocks and equities side of the market involves careful navigation and strategic planning. By integrating equity ownership into its loyalty program, WeShop creates attractive incentives for users to actively participate. Strategies like transparent communication about the value of the shares earned, regular updates on company performance, and even shareholder-only benefits can increase member engagement and retention. Furthermore, by leveraging partnerships with financial institutions and investment platforms, we may be able to provide new avenues for users to leverage their accumulated equity.
HP: Given your expansion plans in the US, could you elaborate on WeShop's approach to entering and growing this market?
JF: WeShop's approach to entering and growing the US market is a well-thought-out strategy. This includes thorough market research, understanding consumer behavior and preferences, and adapting the value proposition accordingly. We tailor our marketing strategies to resonate with American audiences, build strategic partnerships with local brands and influencers, and ensure compliance with regulatory requirements. Our success in the UK is a testament to the viability and appeal of our model and gives us confidence to expand and succeed in the US market.
HP: What other exciting developments and initiatives does WeShop have coming up in the year ahead?
JF: Although the details may vary, WeShop appears to have some exciting developments and initiatives planned for the year ahead. This includes expanding our partner network to offer a wider range of products and services, improving the user experience through innovation and platform improvements, and launching targeted marketing campaigns to increase brand awareness and user acquisition. This could include consideration of potential collaborations and strategic acquisitions to accelerate growth. And innovation.
HP: What are the hottest affiliate trends at the moment? Are there any that particularly catch your attention?
JF: Affiliate trends that are still clearly visible today include influencer marketing, the growing importance of content-driven affiliate strategies, the emergence of niche affiliate networks catering to specific industries or demographics, and personalized These include increased adoption of AI and data analytics for data analysis. Marketing and performance optimization. These trends reflect a shift towards a more targeted and authentic data-driven approach to affiliate marketing, in line with evolving consumer preferences and market trends.
HP: Why did you choose to sponsor PMA?
JF: WeShop's decision to sponsor the Performance Marketing Awards aligns with the company's commitment to recognizing and rewarding excellence, innovation, and creativity among its partners and the performance marketing industry. By supporting a respected event like PMA, WeShop demonstrates our commitment to industry advancement and strengthens our brand's presence and credibility among marketing professionals and key stakeholders. Additionally, sponsoring PMA provides valuable networking opportunities, brand exposure, and industry recognition, further cementing WeShop's position as a leading innovator in the affiliate field.
