Social commerce platform Chirpify has bagged another US$4 million in addition to the US$2 million that it raised in April as part of a fund that will be used in its venture into TV shows and live events.
“Chirpify’s new investors are highly strategic as they provide expertise in vertical markets that we consider to be perfect targets for our technology including sports, music and media,” said Chirpify Chief Executive Officer Chris Teso.
“We see a tremendous opportunity to leverage social as the point of conversion for our clients’ cross-channel campaigns,” he added.
Teso highlighted that the firm’s in-stream tool lets people buy, donate or even receive freebies directly from social media like Facebook, Twitter and Instagram by responding or commenting to a seller with the words “buy”, “donate” or “gimme”.
Advertising firms have been exploring ways to improve the impact of their internet campaigns ever since TV rating firm Nielsen collaborated with Facebook and Twitter to create a social TV gauge that measures the amount of social media buzz generated by brands and television shows.
Firms generally credit higher online sales to ads on social media and clients who refer the brand to their colleagues. However, the figures are just based on estimates.
Nonetheless, Addshoppers.com discovered that brand mentions in social media are worth about US$2.04 on average. Google+ was responsible for the highest monetary amount per share, while Facebook generated the biggest revenue.
On the other hand, MtoM Consulting’s research involving mothers found that 33 per cent of mums consider Facebook to be the most influential site, with 96 per cent of respondents using the social media giant to buy things online.