Social Media Influencers and Brands

One of the major driving force to any business is marketing. Marketing forms the foundation to the success of any business. Today, marketing has taken a new form with the acceleration in adoption of the social media platforms over the past decade. The basis of the decisions of the masses depends largely on the social media influencer they follow. Social media influencers are people capable of influencing the decisions of others on the social media platform. We see different trends in the fashion market and other markets majorly because of these influencers. Influencers on the social media are of different categories: there are the celebrities with millions of followers, there are the content creators who create contents ranging from videos to articles, pictures, memes, etc. there are also the bounty hunters who are able to make posts from new projects trending through one on one contact with others.

These influencers of all sorts are consulted by brands to help promote their products. But there is a downside as many of these influencers go underappreciated or rewarded for work done for these brands. There have been cases of ‘no payments’ for some of these influencers and there is almost nothing they can do about it.

Challenges faced by Influencers and Brands

Upcoming or new projects seek initial coin offering from the public to initialize their projects. But they cannot get to the public by themselves as this is very hectic and requires a lot of attention. Therefore they set up bounty campaigns with attractive payments for hunters to help them in promotions on different platforms. But because managing bounty campaigns is difficult for these startups, they employ bounty managers or bounty campaign companies on different platforms (e.g. bitcointalk.com) to help manage the campaigns. Over the times, different bounty managers conduct these bounties in a non-transparent manner as hunters whose works are accepted are under-rewarded or not rewarded at all. Many hunters whose works are not accepted are not given valid or concrete reasons why their works are not accepted and there are no measures to settle this disputes. There are also known cases, where the amounts of payments promised to bounty hunters, have been lowered over time and there is nothing they can do about it.

There is no adequate dispute resolution between brands and influencers. Middlemen or intermediaries who are supposed to settle these disputes usually sides the brands.

Brands have problems in creating ideas for a positive return on marketing campaigns. This is the reason why they rely on third parties namely content creators (or influencers) to help solve this problem. Content creators like to share their ideas with brands. But on the other hand, a poorly created idea will ultimately result into a poor marketing campaign.

The solution

Social cxn’s view is that these problems should not exist and thus creates a platform that directly connects brands to different social media influencers and allow them to choose whom to work with for a maximum yield on marketing campaigns. Social Cxn did not forget the social media influencers as it has the platform built on the foundation of transparency with payments escrowed to assure influencers of being rewarded rightly.

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SocialCxN is on target to be the first decentralized influencer management platform built on Blockchain technology. With existing major brands already on our platform as customers, we are the next generation social application for Brands, Retailers, Startups, and Enterprises that are looking for greater visibility in the social media ecosystem in collaboration with content creators & distributors.

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Social CXN Solutions

Social CXN creates a platform that allows bounty managers to create bounty campaigns with set rules. The tokens allotted for the bounty are escrowed to ascertain the payments of all accepted works by the hunters. The bounty campaign is then made available for all bounty hunters to see and apply. The bounty hunter applies for the bounty, works on the bounty, and finishes the campaign. The smart contract checks or validates the work done and creates a summary report for the bounty manager to review. The bounty manager reviews the summary reports and accepts or rejects the work done by the hunter. If the work done by the bounty hunter is accepted, the hunter is automatically paid through the smart contract into the hunter’s wallet. If the work is not accepted the hunter is notified, but if the hunter wants a review, then the arbitration process is initiated.

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Social CXN allows brands and influencers to resolve disputes in a transparent manner without taking sides through an arbitration process. The person who initiates the dispute deposits token into the platform to get the process started. The second party involved pays the same amount of tokens as the initiator. There are the CXN generals who are holders of the CXN tokens. The CXN generals votes for or against the parties involved. The party who gets a positive vote from the CXN generals gets his deposited token refunded in to his wallet with more credibility score. The party that loose will not get their tokens refunded instead they get a lesser credibility score and their token distributed among the CXN generals. The generals also get more credibility score.

Social CXN allows content creators to create, upload and share their idea for marketing campaigns with brands through tags for visibility and get paid for their ideas. Each content creator’s information is attached with a unique identity to ensure they get paid for their idea. Brands are able to allow the CXN token community to vote on ideas created by content creators and get paid. The Social CXN platform also allows brands to also buy total or limited rights to the work done by the content creators and the payment is automated.
On the platform, brands are also able to select a suitable influencer to work with. The platform calculates and determines a fair price. All the transactions are recorded on the blockchain.

Token Details

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For further information on Social CXN, you can read:

Website

Whitepaper

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Thanks for reading. I am @ayobami99 (bountyhive username: Ayobami). You can join the promotion of SocialCXN on bountyhive here.

You can reach me at my email: [email protected] if you need me to write an article for your project.