In an era where e-commerce is burgeoning, the challenge of personalization and engagement in online shopping is more prominent than ever. Enter HoverIT, a trailblazing venture by James Flanagan that’s poised to redefine the landscape of e-commerce through innovative personalization and a robust affiliate revenue model. Impact Wealth delves into the genesis, vision, and future of HoverIT with CEO James Flanagan.
The story of HoverIT begins amidst the global turmoil caused by the COVID-19 pandemic. Originally conceived to support local businesses through a dedicated platform, HoverIT’s success on this front led its founder, James Flanagan, to pivot towards a more ambitious gap in the market: personalization in e-commerce. Unlike the general trajectory of digital personalization seen in platforms like Spotify or Netflix, the e-commerce market remains largely manual. In the world of e-commerce, consumers still need to first know what they want and seek out products, rather than intuitively being served products based on their interests. A recent survey from Meta found that 87% of online shoppers are open to discovering new products that match their interests.
HoverIT’s vision is a seamless, personalized shopping experience that mirrors the curated nature of content consumption on today’s leading digital platforms. This involves moving beyond the limitations of current e-commerce environments, which often segregate brand discovery and purchasing into disjointed experiences. HoverIT aims to integrate these aspects, leveraging the power of brand ambassadors and influencers to drive traffic and conversions in a way that benefits all parties involved: the consumer, the brand, and the influencers themselves.
At the core of HoverIT’s business model is its affiliate revenue system, which capitalizes on the burgeoning affiliate marketing industry.
“81% of major brands are currently using affiliate marketing,” Luke Falvey, COO of HoverIT shared. “The industry is expected to double from $17 billion to $40 billion in the next six years. By affiliating with leading networks and offering a more compelling proposition for brands to connect with their ambassadors and consumers, HoverIT not only facilitates a more engaging shopping experience but also maximizes ROI for its partners.”
A key innovation driving HoverIT’s platform is the introduction of “Precision Tags,” which allow users to filter and shop their favorite brands, ambassadors, and products effortlessly. Whether it’s shopping for sports apparel by a favorite athlete or exploring fashion lines endorsed by celebrities, Precision Tags make it easy for consumers to find and purchase products in a highly personalized manner.
With the infrastructure to support a vast array of products and brands through seamless integration with the major Affiliate Marketing Networks, HoverIT is strategically positioned to become a significant player in the industry. The company’s timing couldn’t be better, with personalization in e-commerce identified as a key trend by global tech leaders and the market ripe for innovation. “Scalability and user acquisition are typically two of the biggest challenges start-ups face, so we designed HoverIT to scale from day one” says Dillon Falvey, Strategic Advisor. “We don’t need to start from scratch or hire an influencer to help us break the internet – through strategic partners, we will tap into an existing global userbase and deliver a commerce-first discovery solution at scale.”
Significantly, HoverIT’s ascendancy is bolstered by the backing of notable figures from the worlds of sports and technology, including the likes of Patrick Murray, a former placekicker for the Tampa Bay Buccaneers and the Cleveland Browns and Amer Iqbal, former Head of Digital Transformation at Meta. Their investment and faith in HoverIT’s vision underscore the platform’s potential impact not only on e-commerce but also on how sports and athlete endorsements drive consumer engagement and purchasing decisions. This prestigious support network is instrumental in propelling HoverIT towards its ambitious goals, marking a paradigm shift in how we perceive and engage with e-commerce.
HoverIT are currently in the midst of a capital raise through their partner in the US, Athlon FO, aimed at fuelling their next stage of growth. Athlon FO has experience in the sports world, one of their most recent raises was the Smith Arenas project in partnership with the Gronkowski family.
HoverIT represents a bold step forward in the evolution of online shopping. By harnessing the power of personalization and the effectiveness of affiliate marketing, it promises to deliver a shopping experience that’s not only more engaging for consumers but also more profitable for brands and influencers alike. As e-commerce continues to grow, HoverIT’s approach could very well become the new standard, making the act of shopping online as personal and intuitive as streaming a favorite show or listening to a curated playlist. In the words of James Flanagan, “we’re not reinventing the wheel; we’re making it roll smoother for everyone involved.” With its innovative platform and the strategic backing of sports world luminaries, HoverIT is set to pave the way for the future of personalized e-commerce, transforming how we discover and purchase products online.
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