What is patron?
Patron connects advertisers that has products or services to promote with the right social media personalities that will help ensure that such products/services reaches the right targeted users. Patron is a decentralized platform that utilizes blockchain technology to connect companies looking for social media personalities with large active fan base to promote their products or services and such social media personalities.
One of the uniquesness of patron is that it provide such product advertising companies the right tools and information to judge the suitability of a polular social personality to promote their products to the type of audience they desire by assessing the types of followers following such personality.
The problem with the current social advertising method
Social media have actually brought lots of opportunities to our world.With it, individuals can connect with one another and their favorite celebrities from around the world, share information on their interests to like minded individuals, access current and relevant information, come in contact with popular company's products or services and probably become very popular and get endorsements from companies to support their brands. So many individuals that are not celebrities have been able to attain celebrity status because of social media. They have thousands of people following their social media posts and whatever they post are adhered to and supported by their followers.
These individuals are known as social influencers because they have a huge fan base that take them very seriously. These are the type of individuals that product marketing companies do contact to promote their products because of their huge fan base. Marketing companies pay such individuals to promote their products to their followers. But such promotion don't always translate to sales or huge patronage of the company's products or services. Why is it so?
Companies just contact such social influencer to be their brand ambassador without knowing if a considerable number of the followers of such influencer actually buy products. This is making most product marketing companies unable to achieve their product's financial projections despite spending so much promoting such products with various social influencers.
If companies must recoup money spent on social influencers in the form of product awareness and purchase, they should be able to know the number of real active followers an influencer has and also be able to determine the percentage of such active followers that actually purchase products. This is why there's a need for a decentralized platform that brings product marketing companies and social influencers under one umbrella.
Patron solution
Patron seeks to solve the lapses in the product marketing industry through social influencers by providing product marketing companies the right template through which they can judge the marketability of a social influencer. It also grants influencers the opportunity to market themselves to the right marketing company.
Patron divide influencerd into categories and rate them based on their followers for products marketing companies or sponsors to see. This will enable the product marketing company to know the best influencer that will give their products or services a high marketability.
Patron divides its users into three categories. They are;
the sponsors :
These are products market companies seeking the services of an influencer to promote their products. They enter into contracts with influencers to be their brand ambassadors for a period of time. Sponsors are able to assess the influencers they are interested in to know if it's worth it before entering a contract with such influencer to be their brand ambassador by the influencer rating. Patron determines a sponsor by their agency if it's an organization and by their financial capability in case of an individual.
the influencers:
These are individuals with large fan base on social media that have been able to build a brand around themselves. Such individuals can be contacted by sponsors to be their brand ambassador and promote their products to their users. Influencers can enter into contract with product companies to promote their products for a period of time. Under this period, the influencer may not be allowed to promote the products of other companies depending on the contract entered.
the followers:
These are the people following an influencer. They are the prospective customers the sponsors are hoping to attract. How active these people are and how frequent most of them buys products will greatly influence the worth of an influencer.
These are the three user- types of Patron. Patron rate influencers by their active followers and assist sponsors to make the best decision in choosing the right influencers for their products.
Determination of an influencer's worth
Patron uses these criteria to determine an influencer's worth:
The number of followers that such influencer has.
The level of engagement or interaction between the fluencer and his or her followers.
The reputation of the influencer. That is, what the followers of such influencer are saying about him or her.
These are the criteria used in rating an influencer on the patron platform.
Benefits of Patron
Sponsors Benefits :
With patron, sponsor will be able to assess an influencer properly before sponsoring such influencer. Sponsor can also be able to access influencers based on their demographics and the number of active followers in such demographics. Patron also makes it possible for sponsors to spread information quickly to their target customers with minimal research and investment. Patron also offers sponsors a wider selection of influencers with specific demographic, etc.
influencer's benefits:
With patron, influencers can build brands around themselves and reach out to the right sponsors. Influencers can also easily advertise themselves to sponsors. Also, sponsors will be able to see an influencer's rating, past brands supported and pricing. All these will combine to increase an influencer's worth to the sponsor. Also, influencers will be compelled to build a great relationship with their followers and give out contests to make their followers support their brand.
Followers Benefits:
Followers will have more authentic products or contents advertised by their influencer. Followers will also benefit from contests or discounts given by their influencerd on products.
Patron Token
The PAT will be used:
- By sponsors to engage with influencers and utilize their networks
- By fans to promote the content of the influencers their follow through “likes” which in turn raise the influencer’s ratings and their marketability
- By influencers to reward fans for contests, promotions, and events
PAT can either be gotten via other cryptocurrencies or fiat. The process is very easy for anyone to perform.
Conclusion
Patron is an innovative idea that will ensure that advertisers contact the right social influencers that will produce the projected result. This project is the future of social advertising because it will help ensure that companies don't invest on influencers without having any return and it will also bring the right influencers with the right product marketing companies.
For more information/resources visit any of the links below:
patron2018