- Influencer platforms are two a penny, but one thing continuously gets in the way of regular people taking advantage of them to generate extra wealth.
You have to have a certain follower threshold before they let you in.
Today, MNFST has launched a micro-influencer platform, following a successful round of funding, that hopes to fix this problem for once and for all.
MNFST, which is short for “Manifest,” allows its users to leverage their social channels and turn them into a lucrative business.
How does it work?
The platform calculates each user’s “Social Capital Score” via a proprietary algorithm which determines their influence and projected earnings for their participation in brand campaigns. Users of the app have complete discretion over the brands they partner with, acting as an authentic voice of influence towards their follower base.
Brands are interested in this particular type of influencer because they have noticed that they just aren’t getting results from employing well-known celebrities. It turns out that we trust regular people more than we do the Kardashians of this world, and it is possible to hire thousands of these micro-influencers versus one celebrity.
In its infancy, MNFST has already started to deliver revenue to its 15,000 users. That being said, the earnings so far equal $4.30 (£3.33) average earning per person.
“We created MNFST to allow every user to capitalize on their social media profiles, one of the most valuable and important personal assets in the digital age,” co-founder at MNFST Misha Sokolov told me. “Not so long ago, only celebrities and power bloggers with a massive following were able to monetize their social media presence. Later, micro-influencers came into play, but they’re still required to have a large enough audience to compete with traditional advertising channels. MNFST finally introduces a completely open, transparent and fair platform that provides everyone with an opportunity to promote and recommend the things they care about, while advertisers can directly reward their most loyal supporters at every level.”
So how much can the average micro-influencer make by using the platform to help brands spread the word about their products and services?
“We want to give every single user a chance to express her loyalty, promote things she likes and gets fairly compensated for doing so,” Sokolov said. “Be it 10 cents per day or 20 dollars — doesn’t matter. We want the system to be fair.”
That system is based on the Social Capital Score MNFST created for each user.
“The higher the user’s Social Capital Score is the better offer he or she gets,” Sokolov said. “To increase Score, we advise users to stay active online, post something resonant and inspiring to get more likes and comments, interact more with friends by responding to their posts and gain more followers and subscribers. Also, we suggest users connect all their social networks to MNFST, so they can earn more by joining one campaign with multiple accounts, or participate in different campaigns on Twitter and Instagram at the same time.”
What does the experience look like for the advertiser, and is it completely self-serve?
“No manual iterations are required in content creation for each participant,” Sokolov said. “The content is moderated by machine learning algorithms several times per day. We have antifraud, and brand safety features that ensure that brands only pay for real views and brand safety is not compromised. The financial side operates seamlessly — there is no reward negotiation, and all payouts are automated. We measure how popular each user is and estimate how much each of their posts is worth. We can facilitate rewards in cash, points, bonuses, discounts or gifts. And most importantly, the results are measurable and success quantifiable.”
Of course, the service will struggle if it isn’t cost-effective for the advertiser. So how much investment is needed to take advantage of this army of micro-influencers?
“Advertisers set the pricing themselves, giving them full control over the cost for the impressions and activations generated by MNFST users,” Sokolov said. “This often depends on targeting, such as location, demographics, and other filters. Brands can run ad campaigns under $4 (£3) cost per mille (CPM) at the moment, but as the pipeline of advertisers grows, CPM should go up.”
And what’s next for MNFST?
“Now we are integrating new platforms (social networks and messengers), scaling in new geographies, and improving AI moderation and product features for higher quality content creation,” Sokolov said. “We also working on adding more campaigns to MNFST and plan to guide users on steps that can boost the social capital score and payouts. In future we want MNFST users to participate in paid and non-paid campaigns as well to have a healthy mix of posts supporting not only brands but also causes or charities.”
MNFST is available from today as a free download for iOS and Android, with full details available from the company’s website.