The internet has a staggering 4.66 billion users. And 3.6 billion people actively use social media sites. These social media sites are full of influencers.
Influencers are individuals who have garnered a niche audience on social media and hold a considerable amount of influence over their following – hence the name influencers. If an influencer’s audience and a brand’s target demographic is the same, the brand approaches the influencer to get their product endorsed.
Given an influencer’s hold over the desired demographic, brands benefit greatly through these endorsements. The influencers? Not so much.
An influencer gets paid 30 to 120 days after endorsing a product. This starts a never-ending cycle of influencers harbouring resentment and asking for upfront payouts, the brands risking cash flow by paying the influencer upfront, and the brand paying late to other influencers to make up for the lost cash flow.
Lotanna Ezeike himself used to be an active Instagram personality and is familiar with this problem all too well.
To put an end to this wheel, Lotanna set to work. In September 2019, his one of a kind creation – XPO took flight. XPO is an iOS platform whose integrated invoicing solutions creates a frictionless relationship between brands and influencers.
Lotanna’s app XPO became the #1 ranked app for “influencers” in the UK App Store. However, this is just the beginning for him. Lotanna still has plans up his sleeve, one of them being a partnership with big brands, where influencers and agencies who work with the brand will get an option to choose XPO as their payout option.