Pimm: Now Facebook and Twitter has clearly illustrated that the profit in technology world are all about Social Media now many businessess are trying to follow in their online foot steps. PeopleString has developed a web platform that allows merchants to connect directly with targeted consumers. Darin Myman is the President and Cheif Executive of PeopleString join with us for the CEO sitdown. Darin. It is so great to have you with us again. Thanks for coming in. Explain for peoplewho don't understand about PeopleString or who haven't heard about it. What exactly is the mission of the company.
Darin: PeopleString takes the middle out of Marketing; it allows consumers directly connect with businesses and marketeers and for that they get more value for it because there is no guys in between. People don't have to pay to have email, text or the radio newspapers. There is a direct connection so users in PeopleString get paid to do what they do anyway online as are surfing the web visit favorite websites and giving alittle information about themselves that create us a direct connection.
Pimm: Now that you say tthe users gets paid some one sends to an individual user a check because they are a particular coupon or a particular discount from a merchant.
Darin Well the way it works it aggregates everyone together, PeopleString shares you know the money it takes with its users its members for its usage but we have so many small businesses contacting us wanting to advertise with PeopleString so we came up with something no one has and its Social Media Marketing. It is called "Share it Up" technology that we filed a patent on that allows any customer or business out there to instantly create a launch of a coupon, deal or offer...kinda hear about Groupons everywhere that go up in value when they are shared so... Let's say you you..
Pimm. The more people find something popular and want to use it the greater the value.
Darin: Exactly and let's say a local pizza place. Now he does not want to share half his revenue with Groupon or Living social deal. He says you know what. I am going to give value to my customers for spreading the word. so I am going give more value to his customers for spreading the word. I am going to "Share it up" with different People. Lets say I give a coupon for two dollars off but he shares it with 4 people it goes up in value each time. If I share it with your the value each time it goes for $2 to $2.50 Share it with another friend of yours and it goes up to $3.00 to not one against another; it is a team sport. Think what we are sharing online for people now. You know everytime some people post something online they spread it on we see a good deal we are doing that for free. Well what about taking the middle out of marketing. You know we are becoming these company's media. Here is a way for any business go into PeopleDeals instantly bring a coupon 3 minutes..bring it upline reaches the people you area a national brand, you can do it nationally, you can do a coupon and raise- East coast versus teh west coast. get a millions shares first and give them a bonus or do it locally through go pizza place shares it up with 4 to 5 People within 10 miles of my store. I'll give you 1/2 off my pie enough to share that revenue. What is interesting we had 2 complaints. The first one was: I was tired of advertising to the same group every month and they keep coming in with the same coupon and I and guilty of it. My wife gets the valpak every month, gets the same coupons, bagle, pizza and chinese food.. puts them on the side of the fridge and we use them. They are paying $700 to $1000 each month to reach us every single month.Pimm: But why don't they want to do that. Isn't it your sale is just as good as anybody else or is that they figure you are going to come in anyway but what they really want to do is grow they business.
Darin: They want to grow the business but they don't want me to come in with the same coupon. but we share it up with PeopleDeals platform they can create couponm whey they share it. So they don't have to pay the Val Paks, the Groupons half their revenue. Say ok we are going to save money. I can save me a loyal customer. I am always going to save money. I can save me since I am a loyal customer. I am always going to the same bagle shop and Gets 2 bucks off. I am going to share with 2 people now it is more at $4.00 off. They don't have to pay that marketing cost to their customers.
Pimm: How much did this technology cost to put this altogether. It sounds complicated but from a Merchants perspective your are trying to make it simple; what is behind the technology.
Darin: We probably spent 5,000 hours developing this technology but for the merchant, he can launch his campaign in 2 to 3 minutes and he can try it absolutely free which is the best part he can come in set it up, give it a shot or we can do it for you introducing a full service at $200/month,.. we'll handle your whole media presence from building your Facebook, twitter, lauching your social media coupons. And save them huge amount of money in advertising.
Pimm: Darin Myman. Thanks for you coming in from PeopleString. Very interesting new world of social Media in getting people together.
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