For every $1 dollar spent on influencer marketing, businesses end up making about $10 which…
PR: SPIN Protocol – a New Blockchain Solution for Fast Growing but Easy to Manipulate Influencer Marketing – Bitcoin News
Influencers are individuals or organizations with a significant number of audience on social media. Currently, influencer marketing has emerged to be one of the most powerful marketing tools in the global e-commerce market with its market size reaching 2 billion U.S. dollars as of 2017 with an estimated market size of 50~100 billion U.S. dollars by 2020 (source: Kotra, Korea Trade-Investment Promotion Agency, ). Realizing the value of social influencers as a new sales channel, supplier companies have been consistently increasing their budget for influencer marketing.
Influencer marketing is growing fast as a powerful marketing tool and yet holds several problems. Most of the powerful influencers belong to agencies and suppliers have a physical limit to finding and contacting right influencers. Thus suppliers normally hire third-party marketing agencies to connect the target influencers. This process, however, causes unnecessary intermediary fees for both suppliers and influencers.
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