Before 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 RolePoint and Firstbird, to marketplaces like Indeed or SimplyHired, or professional Social Media like LinkedIn and Xing.
We considered five factors based on core value propositions of the different products:
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?
Relationship - 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 increased to fit the needs of a growing business? Is there enough volume for the platform to become a main channel?
These dimensions are crucial aspects for 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?
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 675 million and 16 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 tell who is actually well connected.
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 hard 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.
How does Primflow ensure quality?
Quality is controlled by Superpartners themselves and enforced by Primeflow’s reputation system. 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. The reputation engine also assists in ensuring quality as it acts as a durable track record. Superpartner reputation is impacted by every action involving other 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 about how we work with Superpartners and partners to ensure quality leads, do not hesitate to contact us.