Problem and Solution
Last updated
Last updated
Native Ads: Think of these as the digital billboards and commercials of the internet. You’ve seen them as banner ads on websites, sponsored posts on social media, or those videos you have to watch before you can see the content you actually clicked on. Companies pay to have these ads placed where their target audience hangs out online. The cool part? Super precise targeting. You can aim your ads at people based on what they like, where they live, or even their browsing habits. It’s also easy to track how well your ad is doing in real-time. The downside? People can get annoyed by ads or just ignore them completely. And, the cost can add up quickly if you’re trying to reach a lot of people.
Influencer Marketing: Now, this is more like getting the cool kids at school to wear your new sneakers so everyone else wants a pair. You team up with social media stars or people with a big following, and they talk about your product. It feels more genuine and can really engage people because it's coming from someone they trust, not just a faceless brand. It's more budget-friendly than splashing out on big ad campaigns, and it can really hit the mark with certain audiences. But, there's a catch: you have less control over what's said about your product, and if the influencer messes up, it could backfire on your brand.
Decentralized Influencer Marketing: Imagine if, instead of just one cool kid wearing your sneakers, the whole school starts sharing and talking about them because they genuinely love them. That's decentralized marketing in a nutshell. It spreads through word-of-mouth, social media shares, and community efforts, rather than through paid ads or influencers alone. It's like planting a seed and watching it grow wildly through the power of the community
EngageX Quest: The Quest platform leverages Decentralized Influencer Marketing in a fun and exciting way! Instead of Brand X paying $5,000 USD to platforms like Google and Meta to shove ads in users' faces, or paying $5,000 to a single influencer who will forget about your brand once the deal is done, EngageX Quest connects brands to a vast network of users eager to get a piece of that $5,000 USD ad budget. It's simple: Brand X creates an ad campaign and deposits the $5,000. Then, users leverage their platforms to talk about Brand X to their followers. No matter how big or small their following, users can get a share of the pot, with rewards distributed based on the engagement their posts generate. And the distribution is all done on-chain, without a centralized party controlling it. This continues until the ad budget gets depleted, at which point Brand X has the option to replenish the ad budget.
Accessibility: Smaller influencers, who may not have had the opportunity to work with big brands, can gain access to advertising campaigns that fit their niche and audience size.
Transparency: Blockchain technology can provide a transparent and immutable record of transactions and engagements, ensuring fair compensation and adherence to contractual obligations.
Efficiency: Removing intermediaries can lead to more efficient transactions, reducing costs for advertisers and potentially increasing earnings for influencers.
Trust: With smart contracts, the terms of engagement can be automatically enforced, reducing the potential for disputes and building trust between parties.
Customization: Advertisers can tailor their campaigns more precisely by engaging with influencers who closely match their target demographic, leading to higher engagement rates.
