INFLR Expert Review
Introduction: Influencer marketing is becoming the go to strategy for the biggest companies in existence. This is not a new concept and has been practiced since the FM radio was invented. However, these companies marketing efforts are now pulling away from television and radio and are now mainly using influencers on platforms such as YouTube, Twitch, celebrities and assorted podcast personalities.
People: After having a deep look into the Inflr team I found that most of the core team has worked together in the past. The fact that their education and work experience is largely and collectively focused around different types of marketing and product branding, makes me think that this is the right team for this project. Also, I spoke with several of the team members and they are adamant about their capabilities. One thing I don’t like, and this is more of an annoyance than a red flag, is that the 6 blockchain developers that are listed on the website as team members are from an outsourced company. Outsourcing is fine and I see that as a wise business move in most cases. Just don’t pretend that they are part of the core team. It’s unnecessary. If you must list them or you want to advertise their work, label them as a partnership instead. They work together in another office somewhere far from the main crew. That being said, 6 blockchain devs on any project is awesome. But after speaking with Ricardo Oliveria, he confirmed that their company, “OnePercent”, is working on several projects and although they interact with the INFLR team they are not part of it. This is not at all a deal breaker for me. The team is solid enough.
Solution: This product is going to have a hard time entering the market. Non Ironically, they are going to have to find and convince whoever it is that influences the influencers. That, or offer them a lot more money than the traditional companies that are already doing this same thing. Companies like HYPRbrands are already locked in with big companies like Pepsi, HULU, Microsoft, Bloomberg, etc. I’m not saying that it’s impossible. If they find the right marketing strategy, they can penetrate this market. All the founders have experience and degrees in marketing and branding. I think they have a shot. The sign up for being an influencer through the website was not working for me at the time and date of this review.
Strategy: First thing I notice when I see this project anywhere is that they refer to themselves as “the first blockchain-based platform that connects advertisers to influencers”. This is simply not true. Patron has attempted this and is not performing so well. I would say that a better strategy would be to acknowledge the competition, analyze their strengths and weaknesses, then become better. Don’t deny their existence. If denial isn’t the case here then I would question the amount of market research that was performed before launching this venture. As far as the token sale goes, I’d like to see some more widespread marketing efforts and use the industry you are trying to penetrate. I saw the three pseudo-celebs that they hired to be brand ambassadors but if you are going to be the next best thing in influencer marketing, I want to see J-Lo or Ricky Martin talking about Inflr.
Conclusion: This can work. If the C-level team members flex their marketing muscles and do what I know they have the ability to do, they have a shot. But Inflr will be doomed right out of the gate if they can’t find a way to entice some talent managers of major influencers or the influencers themselves that are raking in millions with their current situations. I am a huge fan and an advocate for disruption, so of course I am rooting for them.
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