BuzzFeed Wants To Help People Sell Their Products
The digital media company plans to launch four new brands per year, taking a cut of the sales
BuzzFeed already sells its own branded products, and now it’s using its marketing expertise as the basis of a new venture that will help innovative products come to market. The platform will supply startup partners with original ads, leveraging the company’s massive online audience.
The service comes out of BuzzFeed’s Product Labs group, which has thus far spun out several BuzzFeed-branded items including cookbooks, specialty coffee and an induction cooking range, drawing inspiration from the site’s popular cooking videos. Clearly aware it has a winning formula, the company will promote new products with the same services it already offers larger brands, including promotion through online posts and video content that reaches a global audience of more than 650 million.
“Great companies are launching every day. Often, the biggest challenge for new brands is breaking through and getting attention from potential customers. Good stories often go untold,” writes BuzzFeed on its website. “Our launch program gives new brands the chance to access the full scale of our audience without [the] upfront cost.”
BuzzFeed will take a performance-based royalty (about 10 to 20%) of every product sold in exchange for its services. The company plans to launch one new product per season, with the first set to debut in time for this year’s Black Friday. Those who think they’ve invented the next viral hit product can sign up now through BuzzFeed’s website.
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