Why Influencer Marketing Sucks (and How to Fix It)
When I worked for a digital marketing agency in 2017, my clients asked me to leverage influencer marketing to push their product.
Challenge accepted.
I sent countless emails, negotiated staunchly, and served as the middleman to ensure both parties’ interests were aligned from start to finish.
Phew.
After months spent sending emails, traveling back and forth, editing content, and delivering ridiculously detailed analytics reports for my clients, I realized that so much of the time and money I’d spent executing this campaign was utterly wasted.
The Problem
While 67% of marketers today are dumping their budget into influencer campaigns, they’re realizing that these campaigns are incredibly difficult to implement.
Locating a suitable influencer partner?
Good luck.
Negotiating reasonable pay for the influencer while maximizing your ROI?
Hah.
Executing an end-to-end influencer campaign in a short timeframe?
In your dreams.
And although marketing blogs keep publishing lists detailing the difficulties of executing an effective influencer marketing campaign, none of these blogs posits a viable solution.
That’s why I wanted to take a moment to explain how blockchain smart contracts will make the daunting task of executing an influencer marketing campaign feel like a walk in the park.
The Solution
With the advent of blockchain comes a whole new wave of solutions to problems that the advertising & marketing industry has always struggled to solve.
For example, a blockchain platform like AllSpark would allow brands to create an influencer marketing ‘task’ using smart contracts. The task might involve publishing an article or video content to promote a product or service offered by the brand.
Given this structure, a brand doesn’t need to waste time and energy searching out an appropriate partner for its influencer campaign. Influencers can simply accept the task and create content within the brand’s parameters without all the back-and-forth hassle, emails, and contract negotiation.
Before, brands had to take a shot in the dark, weighing the value of the influencer’s audience against the marketing budget allotted for the campaign. But with smart contracts, handling payments is a piece of cake. Influencers are paid automatically in accordance to the success of the campaign.
Finally, the whole campaign process from start to finish will be streamlined on the blockchain. Not only will it be far easier to find a suitable influencer partner and monitor ROI with full transparency, but running the campaign will be as easy as watching a movie; just sit back and let the underlying code of the smart contract handle the dirty work!
For more details about how smart contracts could ease the pain points of advertisers and influential content creators, check out AllSpark, a public industry chain designed to seamlessly merge the worlds of advertising, content creation, and social media.
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