Why Transparent Architectures are Key to Implementing Standards for Influencer Marketing
One of the challenges with influencer marketing is the lack of industry standards. Every social media platform represents data about the influencers differently. Every influencer’s Media Kit highlights different services, different metrics, and somewhat arbitrary price points.
The widely distributed nature of influencer marketing makes any insights into the industry fairly opaque. While tools like Keyhole and Mention provide a window into the influencers’ conversations, reach and engagement levels, the basic problem remains: without a clear view into what influencers are doing across multiple channels and multiple industries, influencer marketing remains primarily the domain of hustlers and industry insiders.
Reloquence, an influencer marketplace for vetted micro-influencers, is an attempt to bring consistency and standards to influencer marketing by providing a transparent, open source architecture for P2P influencer marketplaces. By allowing influencers to establish storefronts on Reloquence, the market can standardize on price points, service levels and metrics, based on market demand. By co-creating the platform using open source software, new data viz and analytics can be seamlessly integrated into the fabric of the marketplace, eschewing the need for external tools to measure results and determine ROI.
Patron, a Japanese company, is taking another approach: blockchain. According to Patron’s whitepaper explaining how its platform will serve influencers, this new use of blockchain will cut out unnecessary middlemen and offer a secure, transparent transactional platform.
Read more about blockchain and influencer marketing and tell us what you think.
Is the solution open source or blockchain, or both?