Influencer marketing has revolutionized the way Millennials and Gen Z are targeted. Rather than targeting an entire demographic or group, it targets individuals by taking a figurehead with social influence or specific expertise in a subject and creating a social profile around them. Influencers usually get sponsorship or endorsements from brands for promoting their products in their posts, whether that be via Instagram, Tik Tok, or Facebook (NASDAQ> FB).
The influencer market has actually grown in success since Covid, and is on course to bring $13.8 billion, by the end of 2021, with most brands allocating a standalone budget specifically for content marketing, of which 75% of these dedicate a budget solely to influencer marketing.
The power of influencer marketing comes from the fact that fans look up to influencers, respecting their views, aspiring to their lifestyles and indeed their purchases.
While Tik Tok and Instagram seem to be the most popular influencer destinations, India has had huge success with its blockchain based Chingari app, and a Western blockchain based platform, Raiinmaker is paving the way for a whole new ecosystem of fan, influencer engagement.
Bringing Influencers Using Blockchain
Raiinmaker turns marketing on its head, and instead of brands paying for advertising campaigns, they can directly reach relevant audiences via fans and reward them for their work, using their proprietary “Proof of Influence”™” protocol. Fans are boosted for their ability to create viral conversations and engagement around the products they admire.
The platform facilitates a symbiotic relationship between influencers and audiences, where influencers are rewarded for actual results, bringing a jump in targeted marketing and thus ROI for the brands they promote. This new approach to tapping into unreached audiences is unique and exciting, and one that could change the future of marketing for good.
Using the blockchain to achieve automation and directly connect the two parties seems an obvious choice. The blockchain is the perfect technology to combine the alignment of incentives and the democratic and transparent distribution of digital influence and social value between fans and brands.We spoke to CEO and founder of Raiinmaker, JD Seraphine to learn more about this exciting blockchain use case.
J.D. you spent the early part of your working in the entertainment industry, how do you go from there to here?
Full story available on Benzinga.com