PATRON. Influencer’s Sharing Economy Platform
It is well known that social networks dominate the world. And as we will see later, a high global percentage is constantly navigating these networks. We will see how PATRON, has decided to point its platform to use social networks to promote influence marketing, making use of the shared economy, to provide a more accessible, economic and timely, which will give rise to a disruptive technology in the world of the marketing of the brands and the advertising of the companies.
Social Media Marketing
Today, almost half of the world’s population actively uses social networks, and social media marketing is a fundamental marketing tool for any company. This is because social networks offer a great opportunity to increase the exposure of any brand or product for companies. The interaction with customers through social networks creates greater loyalty and confidence in the brand, which significantly benefits the companies.
However, it is not easy to maintain communication with users of social networks, especially when most of the network is dominated by Millennials (people 18 to 29 years old). It is necessary to constantly create strategies that aim to create authentic connections.
The net ROI is much higher when marketing on social networks because advertising on social networks is much cheaper than traditional marketing methods. However, PATRON is creating a marketing strategy on social networks that offer an ROI 11 times higher (Tapfluence)
The Sharing Economy. An Opportunity For the World
Companies such as Airbnb, Uber, Lyft, Upwork, and Fiverr have driven this type of economy. More than an economy, it is an ideological change in the way we see work. A flexible and independent economic environment, with its own schedule. An emerging form of collaborative capitalism, between freelancers or independent workers and a dedicated set of clients. Mediation between freelancers and clients is done by companies that use their wide-ranging digital platforms (Uber, Upwork, Instacart, Etsy, etc).
It is estimated that the shared economy will increase from $14 billion in 2014 to $335 billion by 2025 (Brookings), so it is certain that this type of economy is not a passing fad. The trend of this ideology marks a livelihood method that is increasingly accepted worldwide, reaching millions of people both in the United States and in Europe.
PATRON, has the same effect on the market of the influential digital economy, creating a change in the way that companies and brands use social networks, creating an ecosystem between social media influencers and brands, which will allow creating an additional experience transparent and perfect.
Social Media Influencers & Influencer Marketing
As mentioned above, almost half of the world’s population uses social networks, and more and more people are focusing more on tablets and mobile phones than on television. Social networks have a lot of power over the masses, specifically, those people called influencers, who can affect the behavior of their followers in social networks such as Facebook, Instagram, YouTube, Twitter, etc. Influencers usually have hundreds of thousands and even millions of followers in their accounts, so they have a very strong influence in the social media space.
When an influencer makes a recommendation of a brand, consumers, and followers lend their credibility and support to the brand. This will give the brands, and obviously the companies, the opportunity to find more effective ways to present their products through the influencers and to strengthen the commitment of the clients. This is what is called “influence marketing”.
A recent study indicated that more than 75% of brands are using influence marketing, which is why it is considered a highly essential method in the marketing campaigns of companies (ANA).
In the previous image, we can see that the use of influence marketing experiences an investment return 11 times higher compared to traditional forms of marketing, such as television and other conventional media. In addition to this, for every dollar spent they recover up to $6.50!.
We are in the presence of a new trend, where the consumer is tired of being manipulated by traditional digital ads, and it is through influencers’ marketing, where companies find a more authentic way to boost the commitment of their brands.
Influencers are typically classified into two subsets: micro or macro. The micro ones, generally have a low to medium range, around 10,000 to 50,000 followers. But they are extremely dedicated and offer more value, in addition, the micro-influencers are more accessible and their cost is lower. And the best of all, this type of influencers has established stronger relationships with their followers through their blogs. Therefore, their followers are more willing to accept a brand since they trust them and firmly believe in their opinions.
The problem that arises now is how to find the perfect influential people relevant to brands or products, this is where PATRON was born. PATRON is a platform that allows you to discover and work with influential people and build trusting and lasting relationships. PATRON is able to measure the return on investment of these relationships, providing greater transparency and credibility.
PATRON seeks to become the Uber or Airbnb of the influential economy, creating an ecosystem that allows offering a more transparent influencers’ marketing, classified according to their niche or gender, scope, and commitment; whose trust is determined by the users. PATRON seeks to help companies connect with influential people, without the need for an intermediary, using blockchain technology.
PATRON aims to be the intermediate platform that will help facilitate access to influential people around the world.
The blockchain allows to eliminate the intermediary or any type of central financial organization that guarantees the transactions, in addition, it is possible to create the trust based on the history of each one of the participants of the ecosystem. Ensuring the credibility of P2P transactions between individuals. In this way, this technological infrastructure is used to record transactions and operations in a transparent and secure manner.
The blockchain offers a model for influencer marketing, connecting influencers directly with brands and offering a simpler means for incentives and payments.
PATRON implements its native token, PAT, in the Ethereum blockchain as an ERC-20 token.
The PAT has two main functions within the ecosystem:
- The PAT token holders may reserve or communicate with the influencers through the PATRON platform. PAT works as a contract transaction between influencers and sponsors.
- Likewise, through the PAT, followers, and fans may “like” or “vote” for the influencers to increase their rating, so they can be displayed on the upper level.
The Patron Model
There are 3 types of users within the PATRON network: the host (Influencer), the guest (Sponsor) and the fan (Follower).
The PATRON platform has reduced tariffs to allow influential people to earn more income than they get from the competition. In this way, the sponsors find it cheaper to buy their power of influence, which represents a win-win relationship for both the sponsors and the influential ones.
The system also allows reflecting the authenticity of the influencers, disclosing relevant information regarding the classification of influential income, as well as the contents of their social networks and sponsorship information. In this way, PATRON will offer the transparency and authenticity required for influence marketing.
Core Function of PATRON
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)
Value of Influencers
PATRON use 3 methods to judge and determine the value of an influencer:
1.“Dissemination ability / reachability (number)”
2.“Power to engage / Engagement”
3.“Trust / evaluation by users”
George is a fishing lover and loves to publish his experiences, on social networks, during fishing. Explains that not only is fishing relaxing, but also gives advice on the best tools and accessories to fish, both for novices and experts, among them: the rod, reel, line, hooks, baits, and lures.
George has attracted a considerable amount of fans (more than 20 thousand) in his social networks. Kotus King, is a manufacturer of articles of fishing, in its constant search to increase its sales with its traditional publications, has not reached the profits they need to stay in front of the competition. However, thanks to the help of PATRON, they have been able to connect with George.
Even though his followers do not exceed 20 thousand users, they consider George an expert in the discipline of fishing. Thanks to the help of George (promoting the products of this company) and the excellent quality of the articles that Kotus King manufactures, they have increased their sales, attracting followers of George by more than 50% compared to the conventional advertising they used. Obviously, George also receives a profit from his passion by sharing his experiences with the product
PATRON provides a platform that classifies the influential people of social networks, to make the marketing of influential people both easy access for companies and reliable for the influential. In this way, you can facilitate the contents of the influencers to the sponsors and thus market your brands in a more direct way towards an audience that really wishes to become a consumer. Depending on the influencers, the sponsors will have access to a demographic group interested in the type of product that they market.
Fans benefit as they are not inundated with unwanted advertising content.
PATRON makes use of blockchain technology to ensure secure, transparent and unalterable transactions. Simplifying the interactions of influencers, sponsors, and followers, avoiding intermediaries.