Experify, a Switzerland-based platform that provides authentic product review experiences by linking potential buyers with purchases, closed a $4 million seed round. The round was led by Vertex Ventures US, with participation from Sonae Investment Management and the Berkeley SkyDeck Fund.
Experify reimagined the buying process by bringing together buyers and actual customers. It gives people the opportunity to try the product out in person or chat with someone who already owns the product. Having used the goods themselves or heard from someone who is an expert on the subject, buyers are more likely to feel comfortable making a purchase.
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Businesses Can Grow Word-of-Mouth Marketing Online
“Experify offers brands an opportunity to digitally scale the word-of-mouth experience for their product by connecting potential purchasers with real product owners," René Pfitzner, co-founder and CEO of Experify, told CMSWire.
"Both parties can interact online through chat or in-person to try out the product. Authentic reviews have proven to be highly influential in purchasing decisions, however, today’s internet culture has spawned an overwhelming amount of disingenuous reviews. This is detrimental to shoppers and retailers alike."
Buyers may hear from actual individuals in the community who have first-hand experience with a product. As a result, online merchants, particularly those that offer high-value items, can construct better customer experiences based on trust since their high-quality products and delighted customers can quite literally speak for themselves. In essence, Experify is a digital-age version of the old-school word-of-mouth marketing model.
Experify Will Utilize Incoming Funding to Expand Customer Base
Experify plans to use the funds raised from this round of fundraising to build its client base and expand its sales and product engineering teams. This is the company's first seed round of finance.
Review Experience as a Service (RES) is a new solutions category pioneered by Experify. While most sites already utilize the generic star rating system — in addition to Google reviews — and offer up on-site product showrooms, Experify goes a step farther. It offers an alternative approach to soliciting client feedback, thereby undermining the conventional review process in its wake.
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What's Next for Experify?
“Experify finds itself somewhere between social shopping and product reviews, and we are quite literally creating a new market altogether, whereby we will shift from content-based reviews to experiential-based reviews," said Pfitzner. "We’re in the earliest days of this transition, and as it continues to grow I think we will generally see more of these community-focused approaches."
The Experify team continuously listens to their customers' input and strives to ensure that their product roadmap meets the demands of their consumers. No particular planned milestones have been announced, but they always look to enhance the customer experience and make reaching out to the community even more effortless for customers.
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