Cryptoworld: Social Media Market— Blockchain Based Influencer Marketing Platfrom

In a world of rising digital content consumption where traditional media resources are losing their audience daily; brands and companies are increasing their digital marketing budgets. Nonetheless, reaching their target audience is tricky, nowadays. Recent research shows that 47% of overall mobile and desktop internet users are now using ad-blocking software. This number has almost doubled in comparison to the previous year. Furthermore, 36% of traffic generated by Pay-per-click (PPC) campaigns are suspected to be fraudulent or non-human. Hence, brands are seeking new ways of advertising their products and services, discovering the power and realizing the importance of Influencer Marketing.

VISSION

Social Media Market’s objective is to establish a healthy ecosystem,Where ;

-Influencers can easily access sponsorship for creating high-quality content,

-agencies get access to a constant stream of influencers and can concentrate their effort on testing new strategies and strengthening their expertise,

-advertisers get access to more relevant and efficient ways to engage consumers

-and consumers, ultimately, gain access to the high-quality content they desire

HOW IT WORKS?

SocialMedia.Market will create a global marketplace for Advertisers and Influencers among every major social network, providing convenient and transparent tools for the interaction of any party involved. For maintaining commercial relationships between participants, SocialMedia.Market will use Blockchain technology to simplify integration, reduce fraud and costs for all market participants. Token value is going to be upheld not only by transaction means within platform services, but also supported with the ability to participate in the decentralized dispute solution system gaining additional earnings for token holders.

SOCIALMEDIA.MARKET’S MAIN FEATURES AND BENEFITS

SocialMedia.Market will provide the following features to all platform users:

SECURE TRANSACTIONS

Delays or non-payments are problems typically associated with an Influencer’s platform. The advertisers and influencers have very little control over payments. In many cases, after project submission, the advertiser doesn’t receive the high-quality content agreed upon from an influencer or the influencer does not get paid. Our Ethereum based platform uses an escrow payment system which holds the contract fees until the set obligations are met. On project completion, the funds are released, securing the interests of both parties involved.

FAIR DECENTRALISED DISPUTE SOLUTION SYSTEM

Content created by Influencers is mostly perceived subjectively. This may cause disputes and dissatisfaction of parties with achieved results. For the most part, modern platforms do not solve such disputes between parties. Moreover, platforms with such mechanics typically charge an additional fee for arbitration and often favor the paying side. Our service has several preventive measures that will allow parties to resolve disputes on their own in most cases, as well as an arbitration system that will resolve disputes between participants with the help of independent platform experts.

OWNERSHIP VALIDATION

One of the major problems contributing to most of the unforeseen costs is fraud, when a fraudster impersonates an Influencer by hacking into his accounts. These situations harm both parties, Advertiser and Influencer. SocialMedia.Market applies special procedures providing a transparent and reliable marketplace. Influencers are verified and authorized to ensure they are really who they claim to be. Additionally, two factor authentication ensures protection and account ownership within the platform. socialmedia.market 19

EASY COMMUNICATIONS AND INTERACTIONS

Engagement and arrangement is one of the most time-consuming tasks for both the Brand and the Influencer. At SocialMedia.Market we pay great attention to making collaboration more simple and effective. With our powerful CRM-system, in-platform chat app, Smart Contract templates, chat tips, instant notifications and mobile app, organizing contacts, messages, communicating and staying up-to-date will be convenient.

SIMPLE MANAGEMENT

The templates of Smart Contracts will simplify the reconciliation of requirements and the control on compliance of created content for both sides.

HIGH-QUALITY USER EXPERIENCE

With the trend of using mobile devices to solve everyday tasks, we understand that our platform should be convenient and compatible with all kinds of devices. Therefore, we use progressive technologies to make SocialMedia.Market cross platform. Brands and Influencers will be able to utilise IOS and Android applications conveniently, staying in touch anytime, anywhere.

ADDITIONAL WAYS TO EARN

Using our Dispute Solution system platform members will be rewarded with SMTs for their engagement in dispute arbitrations. This will be available only for users who hold a certain number of tokens in their accounts.

ADVANTAGES OF SOCIAMEDIA.MARKET PLATFORM

A short list of advantages SocialMedia.Market will provide to all parties as a service:

-TRANSPARENT and competitive marketplace

-WIDE range of social media platforms, such as: YouTube, Instagram, Facebook, Twitter, etc.

-REDUCED operational costs and fees when working with Influencer campaigns

-ACCESSIBLE and easy-to-use, even for small businesses and influencers in the early stage of social presence

-SMART partnership for a wide range of users with the ability to create smart contracts tailored to specific needs using templates and smart tips

-FAIR dispute solution based on decentralised Blockchain technology

-ULTIMATE results, smart planning with Real-Time Analytics and Data Science

-GLOBAL outreach allows project to aim for larger market share, higher diversity and less dependency on local regulations

ADVANTAGES OF SOCIAL MEDIA TOKENS (SMT)

A short list of advantages SMT will provide to all parties as a single currency:

-100% SAFE escrow transactions based on Blockchain technology

-LOW-COST transactions with less operation fees

-SIMPLIFIED and FAST global payments

-Earn REWARDS by active personal participating in the decentralized dispute solution system

-Get agent commission within the platform

-DONATIONS METHOD for bloggers and streamers

-UTILITY TOOL for acquiring outstanding marketing services, premium analytics and development instruments

COMPETITIVE ADVANTAGES

SocialMedia.Market has significant points and features in comparison with currently existing tools Brands and Influencers have to leverage in the engagement process. The following table provides SocialMedia.Market’s competitive advantage comparison.

POWERFUL MANAGEMENT

Using SocialMedia.Market, clients can always see the full history of campaigns they’re interested in, including its source, updates, sales and specific details. This gives brands a better opportunity to make informed decisions about creating new campaigns and scaling influencer programs. The SocialMedia.Market CRM-system, designed specially to manage Influencer Marketing campaigns, provides user-friendly tools to: build campaigns, set guidelines, create reminders, track product shipment, review content, track posts etc.

GUIDED ANALYTICS

Every advertiser needs a “Guided Analytics” approach that goes beyond a simple review of trends in sales figures to identify techniques to increase revenue. A marketer or consultant needs to know the right sequence of questions to ask to improve sales, and where to find the answers. With our expertise we provide our clients a detailed report with top line metrics as well as the impact of each Influencer and the user-generated content that Influencer produced for the brand.

REAL-TIME DATA ANALYSIS AND ROI

SocialMedia.Market provides real-time tracking for mentions, engagements, true reach and ROI. For the SocialMedia.Market platform, tracking updated data triggers provide an essential and fundamental part of the system’s functionality and competitive edge. Our campaign analytics system provides views, reach and engagement analysis of the influencer’s campaign and allows users to get real-time Cost Per Engagement (CPE) metrics to analyze and control real money return on Influencer investment.

EXCLUSIVE DATA FOR PRECISE TARGETING

Thanks to extensive reach and data science, our system will provide advertisers with more detailed information about Influencers’ channels and users’ behaviours. Our Artificial Intelligence learns from the campaigns delivered results, constantly improving Influencer identification based on the best campaign results achieved.

SMO (SOCIAL MEDIA OPTIMIZATION) READY

SMO is already recognized as a crucial part of marketing alongside with SEO and SMM. Multiple websites already utilize SMO campaigns, boosting their ranking authority from search engines. SocialMedia.Market’s tools provided to brands are created with the latest SMO trends and allow members to create campaigns which comply with basic optimization requirements.

PROBLEM

HIGH QUANTITY OF FRAUD
The ability to check the credibility of the contractor conditions online relationships.

UNCERTAIN PRICING
Many intermediaries and risks make pricing in the market chaotic and often inadequate, while not providing any guarantees of efficiency.

PAYMENT COMPLEXITY
To maintain campaigns both advertisers and influencers need to operate multiple payment methods to simplify transactions and optimize costs.

LOW ACCESSIBILITY
A high threshold for small and medium-sized business entry, associated with risks (high unpredictable costs)

DIFFICULT TO MAINTAIN RELATIONSHIPS
Lack of standards, average age of influencers and only direct online communication makes communications difficult to maintain for all parties.

TIME CONSUMING AND LIMITED CAMPAIGN DIVERSITY
As demonstrated, the process of managing Influencer Marketing programs is time consuming when handled in- house, making it a complex task to work with a large network of Influencers. Yet, Influencers with a smaller quantity of subscribers show higher engagement rates than top influencers. socialmedia.

COMPLEXITY IN SELECTION OF INFLUENCERS AND ROI ANALYSIS
In a survey conducted by Tomoson, more than half of the participants reported better quality leads as a result of Influencer Marketing. Therefore, the selection of relevant bloggers is one of the most difficult tasks for marketing managers.

DECENTRALIZED DISPUTE SOLUTION

The evaluation of the created content is largely subjective. Consequently, this subjectivity can cause disputes and dissatisfaction concerning the result. On SocialMedia.Market there are several preventive measures that allow parties, to resolve disputes on their own, in most cases. In all other cases, parties can access a decentralized Dispute Solution system to resolve issues in cooperation between participants. Depending on the reasons of dispute, the process may be initiated by either the Advertiser or Influencer. A list of contracts under dispute is available for platform experts to review, with controversial details being disclosed during the settlement process.

DATA SCIENCE

Our platform will use the latest technology for data collection and analysis. This will be achieved with help of gathering data from Social Graph and Open Data as well as the data inside the platform. With the use of Artificial Intelligence and Machine Learning, SocialMedia.Market will provide an outstanding service to our users.

CONCEPT OF BUILDING AN APPLICATION

-Micro service architecture, relevant technologies according to specific needs, use of contemporary frameworks and patterns only

-Secure transactions with the help of Blockchain and Smart contracts

-Service dockerizing, unique isolated environment for each service, reliable identical environment for each version of the product

-Orchestration of containers (kubernetes), seamless and separate service deployment, uptime 100%

-Two-protocol communication between services — TCP/HTTP, isolated data transferring inside overlay net, JWT authorization between services during communication

-Application is deployed in the Cloud, automatic scaling of resources depending on the load, DDoS attack protection

-Application development using Agile (Scrum) methodology, Continuous integration, Continuous Deployment, code writing standards, multilayer testing of releases (including bug testing) during the development, distribution and deployment of services.

ARCHITECTURE

The application is thought to be built, based on micro-service architecture. Briefly, micro-service architectural style is an approach in which a single application is built as a set of small services, each of which works on a personal process and communicates with others using lightweight mechanisms — HTTP generally. These services are built around a business’ needs and deployed independently, using a totally automated environment. There is an absolute minimum of centralized operation of these services. The services on their own can be written in different languages and can use different technologies of storing data.

DOCKERIZING

Dockerizing and isolating of components are not new concepts in the world of calculation. Some operation systems like Unix have been using “mature” container technologies for more than 10 years. Docker, which appeared a bit later, has positioned itself as an instrument for simplification of the work aimed at creating and controlling containers. Docker did not introduce a lot of new ideas, but made containers available for an average developer and system administrator by the simplification of processes and interface standardization.

-Some of most attracting advantages of dockerizing are:

-Abstraction of host system from containerised applications

-Scaling simplicity

-Simplicity of control over dependencies and versions of applications

-Very easy, isolated runtime environment

-Shared layers Ability to arrange and predictability

APPLICATION DEVELOPMENT AND SUPPORT

Application development is done using Agile. In search of the best Agile practices, we have Scrum framework.

Scrum — is a framework, which is meant for development and support of complicated products. The framework is based on the empiric method and is meant for development of high-value products in muddy environments.

BASIC TECHNOLOGY STACK

-PHP 7 (Symfony 3), NodeJS, RESTful,

-Doctrine 2, MySQL (Galera cluster), MongoDB

-RabbitMQ, Redis, ZeroMQ

-Angular 4, Bootstrap 4, SCSS, Jade, Webpack

-Docker (compose, swarm, hub)

-Git, Bitbucket, Gitflow

-Rancher, Nginx, Traefik, CircleCI, Satis, Cloudflare

-Amazon AWS, Google Cloud, Linode, Digital ocean

-Jira, Confluence, Gmail, FreeIPA

-Centos 7, Ubuntu

TOKEN FUNCTIONALITY

SocialMedia.Market’s core functionality will be maintained by a utility token — Social Media Token (SMT). Every platform activity will require SMTs to ensure transactions, campaign or contract creation and data validity.

TOKEN DISTRIBUTION

Social Media Tokens (SMTs) will be issued as ERC20 compatible tokens.
Based on total amount of tokens, 15% more tokens will be issued for platform core functionality and 5% for partners and advisors.

This will form the total amount of SMTs ever issued.