Getting started for Advertisers. Part 3: Smart contract essentials.

In this guide, we’re gradually moving on to the creation of smart contract — the next step in starting your cooperation with influencers on the SocialMedia.Market platform. You have already created and configured an advertising campaign in the Step 1 and set a MetaMask wallet for protected payments on the platform in the Step 2. Some influencers may have already applied for your sponsorship, so now it’s time to get a closer look at the Smart contract.

Smart contract protects your deal and holds payment until the job is actually done. It’ll help you stay confident that an influencer you partner with gets their fair payment for the job well done. So let’s get on with it, the following step-by-step guide will tell you how to create and configure smart contract.

Creating smart contract

Advertising campaign you’ve created is now visible for influencers. As soon as they apply for your campaign, you can discuss any questions and requirements in detail via ‘Messages’.

The ‘Messages’ is where all your current and previous conversations on the platform are held and archived. You can use it to communicate with influencers to settle any questions, create smart contracts, and check the status of your advertising campaign. The ‘Messages’ includes 4 essential elements of the interface:

1. Status bar on the left keeps you updated on any changes in the state of your ad campaign with the following statuses:

• Pending (your campaign is in the ‘waiting list’, no fitting influencers have applied for it yet);
• Processing (an influencer has applied for your campaign and you can get to the creation of a smart contract);
• Production (a smart contract is signed by both you and influencer and your promotion is being worked on);
• Dispute (either you or an influencer started a dispute over some issue appearing during the campaign production; this status means that campaign is stuck and can not move further without your attention);
• Declined (you can cancel your campaign, in which case, it gains the Declined status);
• Finished (this is a status for a successfully finished advertising campaign).

2. List of contacts — your messaging inbox, where you can see a list of dialogues with influencers you had or have currently; choose the required dialogue to continue conversation;

3. Dialogue box — your messaging space, where you can discuss anything concerning the campaign directly with an influencer and settle on the smart contract creation;

4. Set of buttons above the dialogue box:

• ‘Open profile’ — discover influencer’s profile to decide whether they fit your requirements;
• ‘Decline’ — before signing a smart contract you can decline partnership at will;
• ‘Create contract’ — the exact button you should use to start the creation of a new smart contract;

Now, let’s move on to the first step in the smart contract creation.

STEP 1: Confirm the cooperation.

Discuss the details of your sponsorship with an influencer in the ‘Dialogue box’ and confirm that you are willing to work with them. The smart contract now comes into play.

STEP 2: Create smart contract.

Once you’ve settled all questions, click ‘Create contract’ above the ‘Dialogue box’:

You will open the smart contract configuration menu and get to the third step.

STEP 3: Confirm smart contract details.

Now, you need to fill out the details of your smart contract and issue it to the blogger. The following points provide a blogger with the general smart contract info:

1. Campaign name — the title of your advertising campaign;
2. Deadline — the date all discussed activities should be completed by;
3. Content type — the sort of content to be involved in your ad campaign;
4. Channel link — a link to the channel, where the content should appear;
5. Contract sum — the number of tokens influencer will receive from you for a completed task;
6. Description box — a brief summary of your ad campaign, which concerns its ultimate goals and other specifics;
7. Contract status — the current state of your contract (‘Awaiting acceptance’ when you first create a smart contract);
8. Last update — the indication of the last time any changes were made to the smart contract info;
9. MetaMask wallet — the number of your integrated MetaMask wallet for you to double-check.

Thoroughly check each field so that there are no mistakes or confusing data and an influencer understands all conditions clearly. Then click ‘Create contract’ (10).

TIP. You can change smart contract details, but you have to mark any rearrangements in the created smart contract to stay on the same page with your promotion partner. The ‘Edit contract’ button is intended for that purpose.

STEP 4: Wait for influencer to sign contract.

You will be notified when the influencer signs the contract. At this stage, the campaign status will change from Pending to Processing. Right inside this system dialogue, you can double check contract specifications and influencer’s profile, with ‘Contract info’ and ‘Open profile’ respectively.

STEP 5: Sign Smart Contract

Once all is checked, settled and influencer has signed the contract, you can start the campaign by clicking ‘Sign contract’. Influencer will start working on your promotion and your campaign will be protected by the confirmed smart contract.

Congratulations, your advertising campaign is now full on up and running. You have successfully created the basic ad campaign, enlisted it for influencer to join, got yourself a protected MetaMask wallet to pay for influencers’ job, and reinforced all working terms in a smart contract.

In the next guide we’ll tell you how to check the blogger’s content, confirm the ad campaign completion, and pay for the influencer’s services. Our support is available 24/7 If you still have any questions left.

Keep in touch to get more useful materials related to the SocialMedia.Market coming up.