Get Smart About Influencer Attribution in a Blockchain World

By

One of the higher hurdles in leveraging influencer marketing is appropriate attribution. Years of phony metrics coupled with a convoluted and constantly evolving purchase process has left many advertisers guessing, at best.

An article from the Content Marketing Institute raised an interesting question regarding attribution.  Pawan Deshande posed, “ask yourself who gets credit for your college diploma?” To many, this may seem like a ridiculous question but, for advertisers seeking transparency, it makes perfect sense. Is it a high school or kindergarten teacher, or maybe a college professor?  Is it possible to pinpoint? I say no.

Our data-driven world demands concrete answers. As advertisers and influencers wade through the murky waters of attribution, some say coupon codes, YouTube links and social media should be enough to show the way. Even in accepting commonly favored approaches to illustrating ROI of an influencer marketing campaign, the struggle continues.

The insanity here is marketer willingness to pay exorbitant amounts of money on implementing an influencer strategy with minimal insight into actual influence. Rakuten Marketing research highlighted this point, noting that nearly 90 percent of marketers admit not knowing exactly how rewards are calculated, and less than 40 percent are unclear about whether their spend is boosting the bottom line. Fret not, for blockchain may be the answer you seek.

“The gradual implementation of blockchain will provide transparency on marketing claims by every journey having the ability to be analyzed and validated. This will even lead to the ability to also negotiate contracts and accept terms based on those results,” explained Douglas Karr, DK New Media in a Forbes piece. This newfound clarity paves the way for fair compensation of those deserving credit for the purchase.

What it’s really about is democratizing influencer marketing with blockchain. The retail value chain is in for a blockchain-enabled overhaul, with smarter relationships, delivering enhanced transparency across an environment of collaboration between marketers and influencers – and properly rewarding parties involved.




Edited by Erik Linask
Get stories like this delivered straight to your inbox. [Free eNews Subscription]
SHARE THIS ARTICLE
Related Articles

What Is Attribute Based Access Control?

By: Contributing Writer    12/5/2023

Attribute-Based Access Control (ABAC) represents a paradigm shift in managing access rights within complex and dynamic IT environments. Unlike traditi…

Read More

Raising Value: The Strategic Gains of Embracing Bundled Result

By: Contributing Writer    12/4/2023

Where the concept of value is not just a price tag but a carefully crafted now. In a world brimming with options, the art of planned bundling has aris…

Read More

Tech Innovation in iGaming

By: Contributing Writer    11/29/2023

iGaming is one of the fastest growing industries on the internet. For those who may not be aware, iGaming refers to online casinos, online slots, poke…

Read More

8 Underrated Features of Your Mobile Device You Probably Didn't Know About

By: Contributing Writer    11/21/2023

It is easy to get lost in all the new phone releases when multiple happen yearly. Consequently, most new functions go unnoticed because people do not …

Read More

Navigating the Launch: A Step-by-Step Guide to Bringing Your Product to Market

By: Contributing Writer    11/15/2023

Embarking on the journey to bring a new product into the marketplace is an exhilarating adventure that blends the thrill of innovation with the meticu…

Read More