If you are new to 'passion economy', you might be wondering: Is Primeflow a social network? Is it a marketplace? An entirely new category of business? Let's dive in!
When we started building Primeflow, we analysed the existing competitive landscape. Which current platforms allow people to collaborate in recruiting and sales? What goal-driven networking tools exist? The answer we found was fragmented.
There is a range of existing products that are related, from employee referral tools, such as
, to marketplaces like
, or professional Social Media like
and it's German counterpart
. To grok the space, we needed to build a map.
The map of the Industry of Relationships
What are the important aspects of the solutions in the space of building, managing and utilizing relationships? We think these 5 pretty much cover it:
Transactions - Does the platform allow people to get remunerated for the value they create?
Process optimisation - Does the platform focus on creating a more efficient process?
Relationships - Does the platform have a notion of the strength and reach of professional connections?
Quality - Does the platform produce high-quality results? How does it guarantee quality standards?
Volume - Can the approach be scaled to fit the needs of a growing business? Is there enough volume for the platform to become the main channel for a company?
Together, these dimensions define the products at the intersection of referral platforms, social networks and marketplaces. We visually mapped the different positionings along those dimensions below.
The radar charts illustrate that at least one of the five crucial aspects is lacking in all cases. There is a hard trade-off between volume and quality. The take-away is clear:
A platform that produces quality outcomes at a high volume is currently not available on the market.
What does this mean for Primeflow?
Referral platforms such as Rolepoint or Firstbird are an excellent source for talent acquisition. Employee referrals are known to provide great quality candidates. In fact, 46% of all hires at top-performing firms are referrals
. The drawback of referral platforms is the lack of volume; employees can only provide a limited number of referrals, and there is little predictability in it.
In contrast to referral platforms, social platforms such as LinkedIn or Xing offer volume, which can be quantified by their over 700+ million and 18 million users, respectively. The platforms map relationships and provide a high volume of opportunities. Although they offer insight into people’s connections and endorsements, they only stay on a surface level. Most of the high volume is spam, and it is difficult to judge who will deliver real value.
No platform offers both volume and quality. This is where Primeflow comes in.
How is Primeflow different?
Combining the ability to conduct transactions with robust data on the relationships between people is what allows Primeflow to bridge the difficult trade-off. This unique combination allows us to produce a high quality of sales, and talent leads at a high volume. On top of that, Primeflow completely removes the operational complexity like contracts, tracking of outcomes, and payments - allowing the network to focus on delivering value.
How does Primflow ensure quality?
Quality is controlled by the core members of the Primeflow network - the Superpartners, assisted by Primeflow’s reputation engine. Superpartners are well-connected individuals who work with Primeflow as industry leaders in a specific niche within recruiting and sales. They connect both sides of the market within their respective niches, ensuring that customers work with the right partners from the beginning. In the background, the reputation engine compiles a track record of all network participants to support the referral curration. On Primeflow, the user reputation is impacted by their interaction with users; for example, making the right introductions will increase the reputation score, ultimately resulting in access to more valuable opportunities.
If you would like to learn more - check out our Superpartner community at superlinked.com
and do not hesitate to contact us.