The Green Sheet Online Edition
November 11, 2013 • Issue 13:11:01
The next storefront
Texas-based Cinsay Inc. launched a next-generation, e-commerce, video-based platform that the company believes can revolutionize the way people shop. Virtually any type of business, regardless of size, can tap into Cinsay's patented Smart Store technology to sell products, display printable coupons, capture donations, generate sales leads, track data and more – all rolled into one viewer-interactive platform, Cinsay noted.
"We started Cinsay to bring e-commerce to everybody," stated Christian Briggs, Cinsay's founder and Chief Executive Officer. "With just a few clicks and our iPhone app, you can create a viral video online store. It's a bit like 'YouTube Meets eBay.'"
Smart Store's integrated content management system, video player and shopping cart platform enables viewers to make purchases directly from videos, in real-time while viewing video ads, webinars or product demonstrations. According to Cinsay, the software-as-a-service technology relies on intelligent Internet objects that appear as video players to virally syndicate or propagate across the web, and other connected network and mobile devices.
The technology can be configured to reach the entire value chain of marketing and shopping to generate additional impressions, clicks, leads and sales. Because the platform is completely self-contained within the code, viewers can forward the videos through email and social networks, post them on other websites or blogs, and the technology will continue to maintain e-commerce functionality throughout the process, Cinsay pointed out.
Its embeddable platform, which is compatible with web and mobile devices, can be scaled to fit multiple business models, and is supported by enterprise-level hosting and distribution networks.
Cinsay's Smart Store also contains in-depth reporting tools and real-time statistical data segmented into three pillars: attract, interact and transact. Also built into the system is an on-demand solution for drop-shipping brandable products, which include T-shirts, caps, mugs and iPhone covers.
Smart Store features include:
- Viral syndication via social sharing
- Lead generation and link-out capabilities
- E-commerce capability
- Donations platform
- Coupon and in-store discount functions
- Streaming video and live event options
- On-demand, brandable products availability
Setting the stage for ISOs
Since being named to Forbes' list of 100 Most Promising Companies in 2012, Cinsay has boarded thousands of merchants ranging from big-box retailers to small merchant and service-related businesses.
In March 2013, the company entered a worldwide bi-lateral license agreement with 34 Solutions LLC to resell Cinsay products and integrate its 34Commerce international gateway and mobile platform with Cinsay's patented technology to enable video- and mobile-based e-commerce.
"Their patented social video commerce solution delivers a conversion rate twice that of standard e-commerce applications," Herschel Walker, Chairman of 34 Solutions, stated at the time. "Through our affiliates and the far reach of our independent sales organizations, we believe we can sell several million new Cinsay Smart Stores over the next 18 months."
Managing Cinsay partnerships for the U.S. market is payments industry veteran Christian Murray, Vice President of Strategic Partnerships for 34Commerce. According to Murray, partnerships are being offered to ISOs, processors and technology providers that have the ability to market Cinsay to an existing base of merchants, enterprise-level clients and affiliate networks.
He said the focus of these strategic partnerships will be to gain market penetration through collaborative marketing efforts using opt-in and opt-out marketing campaigns. "There really, truly is a short window of time where we're really focused on strategic partnerships in our industry," Murray said.
Because it is a collaborative effort, ISO time commitment is kept to a minimum. "Cinsay provides the creative and co-branded email and video marketing assets for its partners to send out to merchants," Murray said. "We make it so easy that all the partner has to do is send the co-branded messaging out to their portfolio. Cinsay does all the sales. We setup the videos with merchants. We do all the support and ongoing marketing directly with merchants."
According to Murray, revenue share programs are structured to maximize profitability for partners and their selling agents. "Partners can use their processor of choice and capture 100 percent of all merchant processing inside of the videos," he added, noting that if a merchant signs up under a partner of Cinsay's, partners can receive discounted pricing for merchants that is much lower than the published pricing.
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