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You probably have noticed that we provide lots of resources for making money online at FFL. After all, earning extra cash from home is an incredibly ideal situation. Our posts cover a broad range of money making methods, and Maven Xchange is a new yet innovative option.
When I read that there was a way to earn money if you love clothing and social media, my interest was immediately peaked. In this post, I’m covering anything and everything you need to know about Maven Xchange.
This in-depth review will cover the history of the company, details about the website, my own personal opinions, and more. Without further ado, let’s jump into my Maven Xchange review and see what it’s all about!
What Is Maven Xchange?
Before I explored their website, I read a GeekWire article about Maven Xchange under their Startup Spotlight section. The startup is described is a platform that allows shoppers to earn money via commission by recommending products to friends and other people online.
Jess Waldeck, the company’s CEO, noted how difficult it can be for the average person to make commission through product recommendation. Unless you’ve got a wildly popular blog or strong Internet presence, it simply doesn’t happen.
Maven Xchange is designed to bridge the gap and make it possible for anyone to turn their passion for fashion into profit. Walden puts it simply by stating “Maven lets people earn money by recommending products and services.”
After reading the insightful interview, I ventured over to the Maven Xchange “About” page. This page says that Maven Xchange is right for you if:
- Your friends ask you for shopping advice.
- You have a knack for finding web-based deals.
- You’re handy with social media.
- You enjoy discovering deals online.
- You want to earn extra money.
- You want your influence, followers, and brand to grow.
If these statements apply to you, then you’re most likely a good fit for Maven Xchange. The “About” page also states that you can make up to 20% in commission when your recommendations lead to purchases. Additionally, this page explains that the site is very community-oriented. It’s somewhat like social media sites you already use, but you can get paid to share posts.
My First Impression Of Maven Xchange
Once I read all the description of how the site works, I was even more curious about Maven Xchange. Making money by sharing fashion and deals online sounded incredibly appealing. I decided to mosey on over to the site to check it out. Upon browsing the site, these are my first impressions:
- The website’s layout is sleek and gives off a “Pinterest but more alluring” vibe. As someone who’s been making money from home for over five years, I’ve seen it all. A site that looks appealing simply seems more professional. Maven Xchange definitely meets that mark.
- At first, it’s a bit difficult to tell that this is a site where you’d make money. This isn’t necessarily a bad thing. It simply looks like more of a social site, and the only “tell” is the dollar sign and amount ($0.00) in the upper right-hand corner.
- The website seems geared towards young adult females. Items currently featured on the main page include spring dresses, cosmetics, strappy high heel sandals, and an assortment of feminine jewelry and accessories.
So, what’s my initial feel for Maven Xchange? It’s modern, it’s trendy, and it seems to have potential. Let’s venture into the details of the site and how the money making process works.
How To Make Money Online With Maven Xchange
There are two ways to make money with Maven Xchange. The first way is to earn commission by recommending products. The second way is to earn referral bonuses when you refer new users to the website. I’ll break down the potential earnings below, but for your reference, this is based on information that I gathered from the Maven Xchange Earnings Policy page.
Earn Money By Recommending Products
This seems to be the most consistent way to make money via Maven Xchange. You start out by creating boards similar to how you would on Pinterest. You add products that you like, and then the money making process begins.
- Share your boards anywhere and everywhere. You can share your boards on Maven Xchange, via e-mail, any social media platforms you choose, and even your own website. The more exposure you get, the more money you can make.
- When people click on products on your board and buy them, you earn money. The retailers of the products pay a commission to Maven Xchange, and Maven Xchange pays you 60% of that commission in return.
- Here’s an example of how much you would earn straight from the Maven Xchange Earning Policy page: “For example, suppose you create and share a product clipping for a $125 handbag at a retailer who pays 8% commissions. When one of your followers clicks through and purchases that item and the retailer attributes the sale to your product clipping of the handbag, we will receive a commission of $10 (8% of $125) and we will pass $6 of that to you as a Commission Share (60% of $10).”
- A shopper doesn’t have to buy the specific product you recommended in order for you to earn commission money. Many retailers have several commission-eligible products on their websites. As long as a shopper clicked through to the site via your board, you’re good to go!
- Not all retailers pay the same amount of commission to Maven Xchange, so your earnings will not always be the same. On the Retailer Network & Commissions Page, you can see current estimates for commission payouts from different brands.
- There are some potential scenarios where you may not receive payment from Maven Xchange. Maven Xchange notes that, while it’s infrequent, a retailer may not pay commission due to certain circumstances. Essentially if Maven Xchange doesn’t get paid for some reason, you won’t be getting paid either.
- There are also some potential scenarios where your earnings will be A) less than anticipated or B) revoked altogether. Retailers are allowed to change their commission rates after a purchase is made; this can impact how much money you earn. They can also revoke commission if a shopper returns merchandise; this means you will not earn commission money.
Earn Money By Referring New Users
When you refer new users to Maven Xchange, you become eligible for referral bonuses. You earn these bonuses during the first nine months that the new user earns commission on Maven Xchange. Here’s how the earnings process is broken down:
- You earn a Referral Bonus every time a new user you referred earns a Commission Share. As stated above, you’ll earn these bonuses for nine months following the sign up of every person you’ve referred.
- Each Referral Bonus is 25% of the Commission Share that the new user earns. Maven Xchange provides this helpful scenario to show how much you can earn “For example, suppose you referred 1 new user to Maven Xchange on January 1 and that person earns Commission Shares totaling $100 each month. Your Referral Bonus would be $25 per month ($100 x 25%) for 9 months, totaling $225 over the January 1 to September 30 period.”
- You can refer an unlimited amount of new users to Maven Xchange. This means your potential Referral Bonus earnings are 100% unlimited.
- If a Commission Share is reversed or the amount is changed, this will be reflected in the Referral Bonus amount. Under the ‘Earn Money By Recommending Products’ section, I mention how and why the amount earned may change.
- You must follow the instructions in the ‘Refer a Friend’ promotion section. You can find these instructions here; each new user must also follow the instructions.
- If the people that you refer end up referring new users, you do not earn Referral Bonuses via the secondary new users. Maven Xchange doesn’t use the typical pyramid payment format that many ‘make money online’ businesses promote.
This sums up the two ways that you can make money on Maven Xchange. As always, it’s smart to read the fine print, so check out their Terms Of Service section.
How To Get Paid By Maven Xchange
Now that you know how to earn money through Maven Xchange, let’s discuss how you get paid. I’ve summed up the payment process based on the MavenX.com Earning page.
- Payments are made via PayPal. If you don’t have one already, you can create a free PayPal account easily.
- Payments are issued once per month. According to MavenXChange, “a few business days after the end of each month.”
- It can take 30 to 60 days for you to receive your earnings. MavenXChange pays you for your earned commission once they have received payment from retailers. It may take retailers 30 to 60 days to pay; this allows time for buyers to make returns if necessary.
- You must have a minimum of $20.00 in your MavenXChange account to receive payment. You can view your earnings on your ‘Dashboard’.
- MavenXChange doesn’t send 1099 tax forms for your earnings, so you’re responsible for reporting your earnings. PayPal will also report your earnings to the IRS. You can find out if PayPal will be sending you a 1099-K form if you log into your PayPal account and follow these instructions.
This covers your bases for getting paid by Maven Xchange. If you want to learn more about getting your payment(s), visit the ‘Earnings’ link above or their ‘Contact’ page. This page is for general inquiries and also provides a link to the FAQ section if you’d like to browse for information.
Maven Xchange Community Guidelines, Tips, And More
Last but certainly not least, I want to go over some of Maven Xchange’s community information and guidelines. In addition to sharing what I read, I’ll offer some links to pages that I found to be helpful.
- If you’re a visual learner, check out the Learning Center that Maven Xchange offers. The Learning Center provides multiple video guides to help you get the most from this site. It shows you how to create a board, offers tips for blogging, and much more.
- You can read a ‘Do’ and ‘Don’t’ list to find out the rules for the website. The list is found on the Community Guidelines page, and it’s pretty straightforward. The ‘Do’ list is more of a ‘tips and tricks’ list than a rules list, but it’s pretty informative. The ‘Don’t’ list does contain some hard rules, so make sure you follow those. You don’t want to put your earnings in jeopardy!
- Maven Xchange has numerous social media pages that you may find useful. You can find them on Facebook, Instagram, Twitter, Pinterest, and LinkedIn. From learning about the company to finding helpful tips, their social media pages can come in handy. I suggest following them if you’re interested in making as much money as possible.
- If you aren’t sure if this platform is right for you, read a bit about others who are using it. I came across the ‘Our Community’ page, which shows a few examples of people who use Maven Xchange. It gave me some insight into who uses this resource, so you may find it helpful, too.
The last tip I want to offer is to read the Maven Xchange Blog for even more information. It features posts about ways to make money, information about the world of micro-influencers, and much more. I found the posts to be pretty interesting, and I think that they’re a must-read if you plan on signing up with the site.
The Verdict: Maven Xchange Is A Viable Passive Income Option
After researching Maven Xchange and exploring the website, Maven Xchange seems to be a legitimate and different way to make money online. It’s rare that you find something fun and engaging like this, and it gives you a chance to actually earn cash using social media.
While it’s not a viable source for full-time income, it’s certainly one for passive income. In my opinion, it’s a great choice for pretty much anyone who’s keen on sharing the latest fashion, gadgets, and more.
If you found this post interesting and helpful, Frugal For Less is full of other unique ways to make a passive or steady income from home. These posts are some of my personal favorites:
- Top 8 Ways To Make Money Selling Makeup Online
- 10 Survey Sites That Will Make You $300/Month Or More
- 33 Companies That Will Allow You To Make Money Online Part-Time
- 35 Work From Home Gigs That Pay You Once A Week Or Daily
- 15 Websites For Making Extra Money Online
Check out these resources along with Maven Xchange to get started with your next money making venture!