Opening Up Influencer Marketing with Blockchain

Opening Up Influencer Marketing with Blockchain

 

Influencer marketing can be shady, with brands and their influencers unsure of each other. Blockchain-based vendors, such as Spin Protocol, can help. Influencer marketing has become a meaningful customer acquisition channel for many brands. Business Insider projects spending on influencer marketing to reach $8 billion in 2019 and $15 billion by 2022. Instagram, Twitter, and YouTube and other social networks have created celebrities with thousands or even millions of followers. Brands have flocked to those celebrities and their influence on buying behavior.

Whether your business targets millennial travelers, craft-focused parents, or fitness-crazy seniors, you can likely find influencers who are creating content that resonates with and attracts those segments. Challenges

Influencer marketing is not foolproof, however. It has challenges for both advertisers and influencers, such as: Difficulty in vetting the integrity and effectiveness of both parties — advertisers and influencers.

Huge pool of potential influencers, making it time-consuming for brands to choose.

Many middlemen brokering relationships, which obscures price and reduces value for both sides.

Large barrier to getting started for smaller brands and new influencers.

Complexity of managing campaigns across many influencers. Fortunately, blockchain can help overcome these obstacles. Blockchain for Influencers The transparency and immutability of data within a blockchain provide a way to improve influencer marketing for all parties. Reputation matters tremendously in the influencer marketing space. Influencers need to know that they will be paid for their work, and advertisers need to trust that influencers can deliver what they promised.By making the information about influencers and […]