Patron: A Decentralized Platform That Links Marketing Companies To The Right Social Influencers

Introduction

The advent of social media platforms like facebook, twitter, instagram, youtube, etc, have made it possible for many normal everyday individuals to wield great influence and build a large fan base from social following by simply sharing information or resources that endears lots of people to them. These categories of people having lots of following on social platforms are able to influence their user’s behaviors through their information and they are generally being referred to as social influencers.

Social influencers have dedicated fans on social platforms that appreciates the resources that they share and such fans are always ready to support or promote the work of their social influencer. As a result of this, marketing companies are always seeking the services of social influencers to promote their products or services to their fans. They do this by sponsoring the social influencer to promote their products. This is one of the means through which most companies market their products and increase their customer base. But there are some downsides to this approach. Some of the downsides are:

• Marketing companies have no way to decipher if the social influencer has a larger percentage of active followers that actually buys products and if the conversion rate of advertising with such a particular influencer will be high.

• Social influencers have no way to market themselves to the appropriate marketing company, and even when an influencer is contacted by a marketing company, he/she has no way to determine his/her worth and negotiate contract terms properly.

• Very little or no incentives are giving to the followers of an influencer to motivate them to purchase or promote the brand being promoted by their influencer. Etc.

If there can be a way for marketing companies to evaluate influencers and their following, they will be able to know which influencer to sponsor and also, the influencer will also know how to market themselves to the right marketing companies based on their following and also know how to motivate their followers to support their brands when they are eventually hired by a sponsor. All these and much more are what Patron has come to make possible.

About Patron

Patron is a decentralized blockchain platform that seeks to bring marketing companies or agencies seeking for the right social influencers to promote their products to their followers and the right social influencers that has a large number of the target customers of such marketing company.

Patron is equipped with tools that will enable a marketing agency evaluate a social influencer’s following and help them decide if such an influencer has the type of followers that they are hoping to reach. It also has tools that enables influencers market themselves to prospective marketing agencies and also help such influencers in determining their worth when negotiating contract terms.

How Does PatronWorks?

Patron has three user-types and they are:

• Influencers

• Sponsors

• Fans

The Influencers:

Influencers are individuals with a large social media following. These individuals share resources that their followers appreciate and supports. When such individuals sign up to the patron platform, their followers are evaluated for marketing agencies to see. These individuals can enter into contract with sponsors to promote their products to their followers for a period of time and get rewarded by the sponsor or marketing agency for their services.

The influencers simply act as brand ambassadors to sponsors and promote the sponsor’s products based on the contract entered with the sponsor. The patron’s platform also gives influencers the opportunity to advertise themselves to the right sponsors based on their demography.

The Sponsors:

Sponsors are companies seeking for the right influencers to promote their products. Once an organization or individual sign up to the patron’s platform as a sponsor, they are screened to be able to access the sponsor option based on these criteria: their agency or financial capability.

With the patron platform, sponsors stand a higher chance of contacting the right influencer that will guarantee a high product conversion rate because they will be able to see the demography of such influencer and evaluate the active followers such influencers have that purchase products.

The Fans Or Followers:

Fans are individuals following and supporting an influencer’s resources. Followers can belong to a demography or several demographies. the followers are the strength of an influencer and they determine the marketability of an influencer.

How Does Patron Determine And Influencers Worth?

Patron users three criteria to determine an influencer’s worth. the criteria are:

Number Of Followers:

These are the number of people following an influencer. The larger the number of people following an influencer, the higher will be the worth of such influencer.

Engagement Level:

The level of engagement between the influencers and their followers is also used in judging their worth. an influencer is likely to have more worth if he/she engages with his/her followers more often.

Reputation:

The reputation of an influencer is the followers view of such influencer. Are the follower’s view of their influencer positive or negative. The views the followers have about their influencer will determine the level of support they will give to resources or products promoted by such influencer.

These three criteria are used in judging the worth of an influencer and they are displayed for sponsors to see in order for them to decide the best influencer for their products.

Benefits Of Patron

Patron offers several benefits to the sponsor, influencer and followers.

Benefits To The Sponsor

• With patron, sponsors will be able to contact the right influencer that will be able to bring the appropriate product conversion rate.

• Patron also help sponsor in determining the worth of any influencer and enable them to price an influencer appropriately.

• Patron also enable sponsor to contact influencers based on the demography of their followers.

• It enables sponsors to spread their information quickly to the right prospective customers with minimal research and investment.

• Sponsors can also target more than one demographies at once if they are complementary. Etc.

Benefits To The Influencers

Here are the benefits of patron to the influencer;

• Influencers can build brands around themselves based on their followers, the companies they have previously worked with and their price range.

• Patron offers influencers the opportunity to advertise themselves to the right sponsors.

• With patron, influencers will know how best to negotiate contract terms based on their followers and demography.

• With patron, influencers will also know how best to motivate their followers to patronize their brand. Etc.

Benefits To The Followers

• Followers of influencers will have access to better contents or products.

• Followers will also benefits from promos or discounts given out by companies on products promoted by their influencers.

• Some influencers may run some personal promos on their own to motivate their followers to patronize their brands. This will serve as a rewarding mechanism to followers that take action on the promoted products. Etc.

Patron Token

The token that will be used to power the patron platform is known as PAT. This token will be used;

• By the sponsors to engage the influencers and utilize their network

• By the influencers to reward fans for contests, promotions and events.

• By the fans to promote contents of influencers they are following through “likes” which in turn raises the influencer’s ratings and marketability.

Use Case

Collins is a British that shares music related information and instruments with his followers on social instagram. He teaches his followers how to play musical instruments and directs them on how to get any musical instrument of their choice at an affordable price. His following has grown to over 75k and his influence has risen among his followers that they always consult him whenever they want to purchase a musical instrument or music related material.

Collins does this for fun and his only benefits are the larger daily impressions he gets on his music website. He heard about patron and discovered that he could make some extra income from his dedicated following by promoting music related products of companies to his followings.

Collins signed up to the patron platform as an influencer and he was contacted by several musical instrument companies to market their products to his followers. Collins has been able to generate a huge financial reward from such and his followers have increased greatly because the giveaways he usually gives to motivate them to take action on the brands he promotes.

For more information/resources:

• Patron websites

• Patron whitepaper

• Patron telegram

• Patron Demo

patron2018

https://steemit.com/crypto/@originalworks/2300-steem-sponsored-writing-contest-patron