Repost from Cryptonexa
By Jason Goldberg
Content creation and disbursement has changed over the years with social media influencers taking the place of popular media. With the help of blockchains, this infant concept could also go through a major change.
Social media influencers have recently gained major attention from top brands who are using people with a large fan following on social media to make their products popular. Take the example of Kylie Jenner’s lip kit or her cosmetic lineup. These are popular simply because of her ridiculously high number of followers and the influence she commands over her audience. These influencers have even created several brands with loyal followings.
Influencer marketing can be compared with the old-school word of mouth marketing which helped brands in getting a good reputation because users spoke positive things. Social media influencers help in taking this micro-level engagement and bring it to viral success. A survey found that 84 percent of businesses plan to use these influencers for marketing their products. They are cheaper, give better and more instant results and give the brands a better way to engage with their audience.
These influencers will soon have to move to blockchain and cryptocurrency. These two technologies will become the norm for payments in the future and the influencers who foray into this field early will be befitted the most. In the next 10 years, the current social media platforms could become pre-historic and those who don’t move will have a tough time surviving.
One of the most important aspects of influencer marketing is looking at the engagement levels. One could have thousands of followers and get engagement with less than 1 percent of the audience. Anther could have only a few thousand followers with more than 10% engagement. You have to find the quality of followers of each influence which could be very difficult. Marketers have a hard time deciding if their target audience make a part of the engaged audience of the influencer or not.
On the other hand, influencers cannot have decided which brand is worth their time. Note that these people have spent a lot of time and effort in gathering their followers and they may not want to lose them by advertising a product that doesn’t suit their follower’s needs. CEO of Scorum Coins, Vladislav Artemyev says, “Trust is the key word when working with influencers.”
He added, “Blockchain could provide the missing link. Blockchain technology removes barriers and creates transparency, so that everyone involved is aware of the transactions taking place, which improves trust between all parties. Besides, companies will be in a better position to measure their marketing efforts and analyze ROI (return on investment). Influencers will collaborate more competently with brands and earn their fees securely, online.”
With the help of blockchain, the problem of trust, targeting of audience and establishing pre-designed payment conditions will become easier and this could greatly help in developing better brands. Even Instagram, the popular image sharing app is cracking down on dishonest brands and illegitimately gained followers. The future of social media looks bright and more transparent. There will be ample opportunities for the influencers to grow in this supportive ecosystem.