Social Media marketing:
One of the most beneficial ways of marketing a product for companies is through Social Media influencers. The motive of a company is to brand a trip or journey of a well renowned artist and hence the audience watching or following the influencer will engage with the product and buy it. There are a lot of possibilities with this. People are making all kind of videos and are being sponsored by some really big companies to show the product to the audience, but are companies profiting from this strategy and how can they analyze the promotions by this marketing venture. This is where Patron comes in for the rescue.
Patron and The Social Media Marketing:
Patron provides discrete details behind influencers their pros and cons for a company to analyze and market their product. It is a idea which combines the social media marketing to the shared economy just as Uber and careem. Companies can pick and choose from influencers and make the right choice that is best for business. Until now companies just had to put their faith on people to market their products but with Patron they can make decisive actions for the campaign to have the most effectiveness with the followers. The platform categorizes the influencers and even breaks up the approximate investment the company should based on the targeted market after reviewing the influencer's audience and interaction with them. The schedule of payment through the Blockchain is also quite satisfying, companies and influencers both will get their due amounts with receipts and everything recorded on the Blockchain so there isn't any chance of mishaps or intentional delays.The Influencers are categorized into three criteria's.
- Number of Followers The popularity of the influencer on the social network.
- Engagement Level The level of interactions with their fan-base.
- Reputation Ratings and feedback from the followers on the influencer.
The Patron Structure:
The user types are also based on the three aspects.
- Host (Influencer)
- Guest (Sponsor)
- Fan ( Followers)
The Host (Influencer) establishes contracts from the Guests (Sponsors) for a certain period of time or number of projects made, during that specific time the Host promotes the products of the Guest and may only use the branding of that certain product based on the clause. The Host can become the brand ambassadors of the product. While the Guests will get a particular number of fan following of the product who are interested in the usecase of the product and can even sign Host for year long contracts. The Guest feature may only be given to companies after screening their financial capital and past repuations.
Why Patron
Sponsors will get influencers best suited for their product categories, hence the audience watching the content will get curious and may buy the product at a higher rate than sending ads to random searches on a video which are rarely ever given importance. The Sponsors can also pertain to signing multiple products with an influencer or multiple influencers to a product which ever is the case they don't have to waste time for background checks and can rely on the data provided by the platform for each individual influencer.The influencers can build up their content and even make a brand out of it getting sponsored for what they love will be the extra drive in making better content and as a result expand their fanbase eventually because hard work never goes to waste. In the end the audience will be the most beneficial getting great quality content about the things they are most curious about from their favorite people. The Patron token will be used by all three of the platform users. The Sponsors will use the token to get contracts with inlfuencers. Fans will use it for an added bonus to the influencer in terms of likes giving them higher rating and increasing their marketability. Influencers will use the token to reward back fans by taking contest or random events.
Practical Use Case:
Irfan is a travel vlogger, taking beautiful shots of the scenic beauty of North Pakistan. It is easy to travel and cost beneficial for him as he is in Pakistan. He has build up a following of 100,000 by mesmerizing the audience with his videography. Unfortunately he hasn't bought a Drone camera yet to take that step further into content creation. He uses the Patron platform to start a new project in Hunza a natural landscape, and makes a contract with a drone company. They send him a drone to use in the next video and sponsor it. He hasn't got the biggest following but of the audience is also nature loving and want the extra beauty in life. His next video is a cut above all of the previous content because of the new edition in his cavalry a drone cam and the product booms up in the comment section the followers are talking about it. Irfan has also got a link below which offers 5% off if the drone is bought through it. The company flourishes in the coming week and gain high profits from the sale. The affect created by targeting the right audience.
Conclusion
Patron is in a class of it's own targeting the next big marketing strategy ahead of others. Creating a platform where sponsors can choose from different influencers and choose the one with the best probability of return of investment. All the users will be happy in the end of the day by making profits. The Patron token can be exchanged with other cryptocurrencies or Fiat and using it is easy compared to other complicated currencies.https://steemit.com/crypto/@originalworks/2300-steem-sponsored-writing-contest-patron
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- ShaheerBari10
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