John may Writer
This Japanese Startup Looks to Fully Tap the Potential of Influencer Marketing - John may Writer
This Japanese Startup Looks to Fully Tap the Potential of Influencer Marketing
The advertising industry is currently undergoing a serious transformation, and it has everything to do with how we consume content. The world has grown tired of old-school billboards and banner ads. According to research done by PageFair, the use of ad-blocking software has risen by 30% worldwide over the past year.
It only makes sense. Online advertisements drag down loading times and litter the design of all our favorite websites. Advertisers are being forced to come up with creative ways to reach their target audiences on the internet. One of the most successful methods they’ve come up with so far is influencer marketing.
The rise of social media has birthed a new class of internet famous celebrities: influencers. Influencers are typically content creators on social platforms, but not always. Anybody can be classified as an “influencer” so long as they have a considerable online following.
Japanese startup Patron seeks to connect influencers across the globe with advertisers using the blockchain. Founder Atsushi Hisatsumi has been promoting influencer marketing since 2010 in Japan and is now looking to parlay his success into a global influencer sharing economy.
Patron’s goal is to build a platform that will measure and reward influencers for the work that they do on behalf of third parties. This is the kind of work CEO Hisatsumi has already been doing in Japan with his company Extravaganza International. By using blockchain technology Patron aims to increase efficiency of the influencer marketing business in an easy, transparent way.
Influencers typically agree to terms with advertisers in one of the following business relationship models:
- A contract promising the influencer will spend a certain amount of time on behalf of the third party.
- A contract promising an exclusive relationship between the influencer and the third party for a disclosed amount of time.
- A contract that essentially “hires” the influencer for a long period of time in which the influencer is paid a salary by the third party.
Advertising through traditional media has become very expensive and inflexible over the last decade. Contrast this to influencer marketing which is not only relatively cheap, but is also abundant. There are many, many unique advertising opportunities becoming available via the growing number of influencers popping up every day on social media platforms.
Patron recently announced the addition of Keith Teare to their board of advisors. Teare is best known for his involvement in co-founding the prolific technology platform TechCrunch, as well as being the current Chairman of Accelerated Digital Ventures.
Patron founder and CEO Atsushi Hisatsumi had this to say about the addition of Teare:
The addition to Keith Teare is of much excitement to the whole Patron team. We are heavily rooted in global media and the influencer marketing industry and having someone with Keith’s background is highly valuable. Besides TechCrunch, he is regarded as one of the most knowledgeable ICO advisors in the industry.
Other advisors on the team include David Cohen, Sam Lee, Toni Lane Casserly, Yagub Rahimov, Ian Scarffe, and Jared Polites. Together the Patron team makes up over five nationalities and brings deep experience in media, technology, and blockchain technology.
According to the whitepaper on their website, the Patron app has a tentative launch date of June 2018. Until then Patron is focused on building out their network of influencers to create the best ecosystem they can.
Patron’s global ICO is currently in pre-sale stage and will later begin a three-round public offering with tiered bonuses from 20% down to incentivize early participation.