social media watch
Posted by Sheila Shayon on July 10, 2012 11:53 AM
As Pinterest starts to overtake Twitter and other websites for referral traffic, it's a tough act to follow. But The Fancy is ready to give it a try.
Geared at fans of great design who already love to suggest new brands and products to their social networks, Mark Zuckerberg and Kanye West are fans of The Fancy, and backers include Ashton Kutcher and PPR head François-Henri Pinault.
But unlike Pinterest, it's not so much about visual scrapbooking as is about generating sales of recommended products, turning users into affiliates. And unlike Klout, no credit is received for influence, only for actual purchase, rewarding users for their taste and influence. It's powering more than $10,000 in sales per day. Modest, but it's a start for a brand that describes itself as “part store, blog, magazine, and wishlist.”Continue reading...