The consumption of digital content is growing day by day. That is why brands and companies increase their expenses on digital marketing. For ads, however, it is becoming increasingly difficult to reach their goal and come under public notice. Users actively apply ad-blockers to hide annoying ads. According to the Statista data, ad blocking user penetration rate in the USA grew from 15.7% in 2014 to 27.5% in 2017. This figure is expected to rise to 30.1 percent in 2018.
The Linqia’s report on the State of Influencer Marketing 2018 shows that 39% of marketers plan to increase influencer marketing budgets in 2018. It means that brands are looking for new ways to advertise their goods and services more and more recognizing the advantages of influencer marketing tools. The explosive growth in such social media as YouTube, Facebook, Instagram, and Twitter changed the marketing model and attracted a great number of advertisers. The brands and companies actively cooperate with influencers so that they use brands and companies’ products in their content because they have a huge number of followers, who consider the influencers’ opinion.
The influencer marketing has been used in the entertainment industry for years until the large companies engaged in other branches appreciated its value. Even small companies are interested in the cooperation with popular bloggers influencing the choice of potential consumers. In contrast to usual advertisements, influencers enjoy users’ confidence and attention. According to the marketers, about 75% of users look for information about new brands and products in social media and a half of them rely on influencers when deciding on the purchase.
Nevertheless, the influencer marketing is still a complex process for both companies and bloggers trying to monetize their content. Our team has worked really hard to think up how to help influencers to solve their problems and bring the social media influencer market to a new level. Influencers face such challenges as non-transparent and unreasonable price formation, risky transactions, non-observance of agreements between them and their agents, fraud, lack of control, etc. It prevents them from using all the market advantages.
We have drawn up a clear plan of incorporation of blockchain technology and smart contracts into the daily cooperation of brands and bloggers. This new technology will allow meeting the market demands and developing it. Brands don’t need to engage intermediaries anymore in order to contact bloggers; they will be able to order the product placement directly from its producer on the platform.
The PATRON platform will create secure and transparent conditions of operation in the social media influencer market. Our idea is to connect brands and bloggers from every corner of the world. As a result, companies will get a broader audience while influencers will be able to grow and develop, as well as to enter the international arena.
Our aim is to popularize blockchain and smart contract technologies in order to make them available and usable in marketing routine. Blockchain technology will help to simplify the integration, to decrease the level of fraud and costs, to create a competitive, safe, and transparent market, and to allow millions of influencers and advertisers all over the world to build the most effective cooperation with a targeted audience.