I met with these guys a couple times as they were hashing out the plan for this product. Love the idea and the mission behind it.
As with any marketplace product, the initial challenge is often understanding the supply and demand economics of the market. What are the right incentives for each side of the equation? Which side needs more attention initially?
@sboochever@narekk would love to hear if you've found this to be a challenge in the influencer space. And if so, it would be awesome to hear a bit about how you're tackling it.
Dylan
@dylanlacom@narekk With any two sided market place, there is a chicken and an egg problem. We are focusing on the Influencers because we believe that it is in an Influencers self interest to promote one degree to increase their following, which will in turn increase their auction participation and ultimately increase the proceeds they can generate for themselves or charities. We believe Users will continue to increase as Influencers promote the app on their existing channels.
Initially we are reaching out to Influencers that are active on social media and looking for ways to boost their brand, monetize, and engage with their fans. Influencers currently on the app that fit this description include models, reality TV stars, athletes, and social media celebrities. We are oboarding new Influencers every day and are starting to see a domino effect.
We are also promoting the philanthropic component of the application as much as possible, which Influencers have been very receptive to. Less that 1% of philanthropic giving is done through apps and we are hoping to change that phenomenon. Regardless if an Influencer chooses to donate his or her proceeds to charity, 1Degree will donate 1% of all proceeds to charity.
@dylanlacom@sboochever Great question Dylan! I think Sam answered it pretty thoroughly. One caveat worth noting is that we're paying close attention to the users coming onboard to see what types of influencers they are most interested in engaging with. Essentially trying to do both at once, using one side to target the right individuals on the other side.
Thanks for hunting 1Degree, @narekk!
1Degree is a new app that provides Users with the opportunity to video chat directly, face-to-face, with their favorite Influencers - all with a philanthropic twist. Our vision is to revolutionize social media interaction and philanthropic awareness as we know it today.
We are excited to hear your feedback!
GrowthHackers
1Degree
