The Power of a Decentralized Social Media, in a New and Efficient Sharing Economy, by PATRON
Social Media Age
In the last five years, the Social Media industry has had great development. This has been achieved through the connecting power of the internet where anyone can interact through the SNS (Social Network Service). Currently, there are many Social Media, among which are: YouTube, Instagram, Facebook, Twitter, Linkedin, LINE, Medium, etc. The number of people connected add up to 2.5 billion people (40% of the world population).
One of the characteristics of these Social Networks is the ability of people to become influential. What does being influencer means? Have you heard the term YouTuber, Blogger, Instagramer? They are people who become famous or popular and are followed by thousands or millions of people (followers) as an idol. These people can influence the behavior of their followers an alter their buying decisions.
This means that the content that the influencers share has the ability to influence, reach and spread around the world. Each influencer has its own niche, such as sports, cooking, fashion, video games, show, etc.
Importance of influencers in the social media ecosystem
Currently, many companies hire influencers to carry out marketing campaigns. However, the current platforms have some problems that need to be addressed. For example, influencers get a fair revenue from their time and resource investment? Do companies reach the target audience they want? Do the followers are rewarded in some way? How do companies know which is the best influencer to hire? Can sponsors of marketing campaigns have the demographic data of the potential reach of each influencer? What are the goals of each influencer?
The developing of the Social Network industry will be lead to the next level. All the previous answers will be answered with PATRON, THE INFLUENCER’S SHARING ECONOMY PLATFORM.
PATRON is a new trust platform that provides and supports the influencers and users of SNS generating a Social Media Sharing Economy. Previous concerns in the influencer marketing industry such as brokage fees will be eliminated. The main functions of PATRON are:
- Sharing the influencer’s SNS delivery frame at the spot. (Pay every time)
- Share an Influencer exclusively for several months (Pay monthly)
- Acquire favorite influencers and monopolize (annual contract)
PATRON implements the blockchain technology, to expand its platform to a new form of Sharing Economy, totally reliable among the SNS participants, without the “help” of third parties.
PATRON implements SmartContract technology to eliminate brokerage commissions. This allows the brands or sponsor to pay fewer fees and the influencers to earn more.
With PATRON, the sponsor can carry easily and effectively conduct studies on the targeted population, metrics such as demography, buying habits, levels of engagement, influencers reaching potential, and many others will be available.
Advantages generated by PATRON
- Monetize each Influencer and express the value of influencer by money.
- The Influencers will be ranked,comparissons with others will be readily made and sponsors would be able to see the field or gender to which each influencer especializes.
- Oversee countless influencers scattered around the world.
- Join and combine influencers and followers through secure blockchain technology.
PATRON working mechanims
In PATRON “Hosts” is defined as the users who receive patrons and the “Guest” as the users who receive sharings. In other words, the Host represents the Influencer, the Guest the Sponsor, and the Fans to the followers.
The PATRON coin is an ECR-20 token built on the Ethereum blockchain. Its name is “PAT” and t is used for several Services in the PATRON platform. 400 million PAT will be issued, of which 240 million PAT will be for the Token Sales in the ICO.
What has been achieved in the ICO will be used for PATRON services, app development, etc. The rest of the tokens (160 million) will be used for long-term development.
The additional benefits of using PAT are:
- Contracts creation between the influencers and sponsors (contractors) and ambassador-like agreements.
- Buy, sell, and trade with influencers.
- The Followers will be able to make votes with PAT to support and rate their preferred influencers. If the influencers have made a contract the fans and the followers will receive money (depending on the vote rate).
- Influencers can reward fans in contests, events and promotions.
PATRON offers an unprecedented function. PATRON allows you to transmit several SNS live in your application (more than 10 active apps). Before, if you wanted to watch a live transmission on Youtube, and at the same time a live transmission on Instagram, you have to leave one application and go to the other. Downloading the PATRON application on your smartphone will allow you to have multiple social media live in one place.
Who is an Influencer and what is its value
A person is influential if he can influence his target audience in SNS. But how to know if someone really influences others? According to PATRON somebody is an influencer if:
- He or she has the ability to extend its reputation and make itself known to new users (massification).
- He or she has the power to capture attention and fascinate users (engagement).
- He or she is a person of trust for the users (reputation).
Thus, PATRON evaluates influential or micro influential with these three methods. For a more detailed explanation see the following sheet:
A Host can buy influential publications, be it a single publication or 1 month to a few months of posts (PR). In addition, you can buy influencers for a year as an advertising tower.
Influencers can increase their profits, while sponsors can lower costs. Since you can reduce the referral fee that usually reaches 40% since sponsors can contact instantaneously and directly the influencers.
- All the influencers are in a ranking where they can be searched by genres and field depending on the SNS.
- Influencers can be contacted, by questions or doubts that other users have.
- Information such as social media, content, classification by income of influencers will be revealed.
- The influencers will have large guaranteed profits for the period of time stipulated in the contract.
- If the influencers also have an effective influence on live or videos in the SNS such as YouTube, Instagram, Twitter, they will be highly valued.
- The influencers may be ambassadors of products or brands for a period of time determined by the sponsor.
- The influencers will have a price associated with the followers they have and the frequency with which they obtain goods.
Due to the characteristic of separating the influencers in a ranking, for the sponsoring companies that seek to find the best influencers for their campaign, this method is very effective and novel.
In addition, the companies can know which influencers are the most convenient, due to the followers they have, due to the amount and frequency of obtaining goods. So, influencers can build a brand based on their followers.
Angel is a 23-year-old, loves sports and healthy life and is a Chemistry student.
During the last three years, he joined Instagram and YouTube. From that moment on, he publishes the content of exercise routines and the diet that athletes must have before and after training. This has aroused great curiosity for users of the social media and he has a growing fan base. He has reached more than 2 million subscribers on his YouTube channel and more than 4 million followers on his Instagram. He also has great acceptance and shares a lot with his followers since he always uses a scientific approach in all his content. He estimates that more than 80% of his followers want to start or maintain healthy life routines.
Many companies have contacted him to advertise their products (sports and nutrition), but he knows that they do not offer a good incentive regarding what the company will earn. Since Angel is sure that the products will be sold thanks to his INFLUENCE. Interested companies do not doubt their good intentions, but they know they do not want to take the risk of offering something lost. In addition, sponsors not only want their product to be known, but in a specific territory people buy their product. That is, not only are they interested in selling, but in selling in a certain place to certain types of people.
This has caused that both Angel and the companies interested in their influence do not reach an agreement.
Days later, a friend of Angel tells him about PATRON a trusted platform that provides and supports the influencers generating a Social Sharing Media Economy. Where companies can see the characteristics of each influencer in a ranking, see which influencers are the most attractive depending on the number of followers they have and the frequency their followers have in buying nutritional drinks and sportswear.
PATRON is the perfect platform for people like Angel, and for companies that want to raise the voice of their brands. Based on the Sharing Economy, not only do they win, but also the fans or followers who participate in this community. Thus, Angel manages to become ambassador of a sportswear brand and promoter of nutritional drinks for one year.
PATRON based on the fundamental principles of a sharing economy achieves efficiency in marketing relationships between companies and individuals (influencers and fans).
PATRON implements its token PAT, as an ERC-20, as do SmartContract based on the well-known Ethereum blockchain.
PATRON manages to create a new way of viewing the Social Media Network from a decentralized approach, based on the technology of the future, the blockchain technology.
The companies will be able to evaluate which influencer is the most suitable for their brand. Thanks to the ranking tool created by PATRON, followers can be evaluated, both the quantity and quality for a particular brand. With this tool of precision, the influencer could be ambassadors of a certain product, in a specific population and in a certain period of time.