- Jerrick’s Vocal platform creates value for all stakeholders – creators, brands, and readers
- Harvard Business Review article articulates why successful digital companies build virtuous cycles that solve problems
- Vocal’s strategic virtuous cycle ecosystem increases value for all platform stakeholders
Using its exclusive platform for digital creators – Vocal – Jerrick Media Holdings Inc. (OTC: JMDA) has created a powerful virtuous cycle designed to support and reward creators, brands and readers alike. At the core of Jerrick’s virtuous cycle is the company’s commitment to and understanding of virtuous ecosystems, a concept that Harvard Business Review (http://nnw.fm/K44Jc) describes as “perhaps the single most important algorithmic distinction between ‘born digital’ enterprises and legacy companies… a clear real-time commitment to delivering accurate, actionable customer recommendations.”
“Recommendation engines (or recommenders) force organizations to fundamentally rethink how to get greater value from their data while creating greater value for their customers,” explained the HBR article, titled ‘Great Digital Companies Build Great Recommendation Engines’. Certainly, Jerrick’s Vocal platform fits the article’s analysis that “recommenders’ true genius comes from their opportunity to build virtuous business cycles: The more people use them, the more valuable they become; the more valuable they become, the more people use them.” Importantly, these so-called “recommendation engines” aren’t just about recommending products for consumers to buy – rather, this term refers to platforms that enable all types of digital interaction. “Appropriately designed,” the article explains, “these interactions create value for your customer and for you. Virtuous cycles can become more virtuous and valuable.”
In direct contrast to a vicious cycle, a virtuous cycle is a chain of events in which one desirable occurrence leads to another, further promoting the first occurrence and so on, resulting in a continuous process of improvement. Though the premise seems fundamental, many companies struggle with implementation. Jerrick’s Vocal platform, on the other hand, perfectly embodies the concept.
All three types of stakeholders involved in the Vocal platform – creators, brands and audiences – work synergistically throughout Vocal’s proprietary ecosystem, ensuring a balanced portfolio of revenue streams, sustainable infrastructures and compounding scalability.
To do this, Vocal provides creators with best-in-class tools, moderated communities and monetization opportunities. Vocal’s creators then leverage the platform to provide engaging content for readers across a huge range of subjects and communities; readers participate by giving creators feedback and support through tips and pledges. Creators also have the option to upgrade their free Vocal accounts to a paid Vocal+ premium subscription (first introduced in May 2019) for access a suite of exclusive value-added features, rewards and participation in exclusive Challenges (http://nnw.fm/LaJ6G).
In working with brands via their in-house creative studio Vocal for Brands, the Vocal team provides brand clients – which include DTC (direct-to-consumer) brands like Daily Harvest (http://nnw.fm/xUV6a) and Hims (http://nnw.fm/Hs77t) – with safety, insightful data and impressive conversions through bespoke paid branded content campaigns. Vocal pairs brands with already-established creators on their platform to tell the brand’s story in an authentic, engaging and non-interruptive way. Readers, then, provide brands with an engaged audience and valuable conversions.
Jerrick understands that the company succeeds when its partners – creators and brands – prosper. Consequently, the company is dedicated to creating scalable and equitable opportunities for all actors and platform stakeholders. “Virtuous cycles shouldn’t belong to customers alone,” the HBR article states, a principle Jerrick has embraced. “Wherever digitalization and data exist in abundance, the power and potential for recommenders shouldn’t be far behind. The best recommendation for enabling digital transformation is to enable the digital transformation of recommendation.”
This is exactly what Vocal’s Virtuous Cycle has done.
Jerrick Media Holdings is focused on the development of digital communities, targeted marketing of branded digital content and e-commerce opportunities. To accomplish these objectives, Jerrick envisions, designs and builds modern technology companies that redefine how people interact with technology. As the parent company of Vocal, Jerrick has built and shipped products that have influenced millions of people worldwide.
Those interested in weekly news from Jerrick can sign up at http://nnw.fm/hTp91
For more information, visit the company’s website at https://Jerrick.media
NOTE TO INVESTORS: The latest news and updates relating to JMDA are available in the company’s newsroom at http://nnw.fm/JMDA
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