Make It Rain with Blockchain

For many businesses, influencer marketing is like the new digital marketing wild west. It’s a party when you strike gold. It’s a pain in the ass and your wallet if you fail. I should admit that even if marketing with influencers are so effective and powerful, in many ways the process can be chaotic. All because of one person: the middleman.

In today’s influencer marketing world, the best way to tap influencers is by talking to a manager or an agency. Think Hollywood. Have a new product you like to promote? You’ll need to talk to another person that gets in touch with another person who sets a meeting with so on and so forth. There is just so many people in between! The result is an unclear and messy bed of deals. Aside from that, you’ll be slapped with ridiculously high rates. According to Adweek, these agency fees have large price markups – usually 30% to 80% on top of what the actual rates actually costs. And you know what the worst part is? Because of their smart asses, these middlemen control how transparent influencers are with their fees to hide their commissions. Luckily, there’s a better way of managing fees and building a relationship with influencers.

Say hello to blockchain!

If you hear the word Blockchain, you automatically think of that guy who shouts and annoys you to throw all your money at Bitcoin. Admit it! Your guilty. Beyond digital currencies, this technology allows the creation of digitized contracts that makes it more open, easy and cost efficient to transact with influencers without any intermediary or 3rd party involved. This is one of the reasons our company "Setzy" is using this technology. Traditionally, payments are coursed through banks which often charge high transfer fees. Influencers wait for their payments to be settled usually within 30 to 90 days. With blockchain, escrow payments can be setup to secure transactions and enable instant payment. There are no delays. No non-payment. You even avoid fraud. Like a digital ledger, you can’t alter or create fake information. Everything is public and transparent. Blockchain acts as a virtual marketplace which allows businesses and influencers to connect immediately – reducing the time it takes for campaigns to launch and hit social media. Beyond speed, companies with not so deep pockets can get their skin in the game. The risk of wasting money and uncontrollable costs are avoided. Blockchain opens the floodgates of opportunities for both small businesses and micro influencers to make some moolah. Now, let me hear an AMEN!

Blockchain holds the future for influencer marketing. And I will say it with pride, use this technology and cut the f*cking middleman.