Murderers and Kidnapping: The Threats of Bitcoin
Online influencer marketing, who became popular this decade owing to the rise of Instagram, YouTube and other social media networks, is going downhill. The perception of easy money lured many youngsters into trying and becoming social media influencers. The 2017 Millennial Shopper Survey by DealSpotr found that 52% of Millennial do not trust influencers anymore. The engagement with the sponsored posts has fallen drastically in the past couple of years. Consumers are increasingly distrustful of sponsored social media, and almost half consider influencers inauthentic.
Consumers trust their friends. Every day 2.1 billion product recommendations are made among friends on social media, emails and instant messaging. People casually share photos, videos, and links with one another promoting things they have bought or like without recognizing the commercial value of their actions.
This is why word of mouth marketing is the most valuable source of marketing. WOM also does not stop after just one interaction. One person will tell another, and that person will tell someone else, then that person will continue the chain and spread the word further, making it an excellent vehicle for exposure and distribution if used well. Although it is one of the oldest and effective forms of advertising, there is still not a reasonable method to tap into this crucial resource.
With the recent induction of blockchain technology in the marketplace, which allows for the transparent and immutable storage of data in the ecosystem, it is now possible to reward the authentic word of mouth appreciations and recommendations. A blockchain-based protocol which gives not only brands and advertisers but also content creators and publishers a way to monetize honest word-of-mouth recommendations is the need of the hour.
WOM Protocol, a next-gen martech solution that enables brands to leverage word-of-mouth recommendations, has just announced that its native WOM Token is listed on the KuCoin cryptocurrency exchange deposits were Effective form 29th of April 2020 with Trading Pair: WOM/USDT
WOM protocol, founded in 2018 by Melanie Mohr, has built a blockchain-based infrastructure enabling genuine word of mouth marketing. The participants now have an opportunity to get rewarded for their value growth and creations. WOM token will be used for incentivizing the content creators and content validators as well. The content needs to be desirable, honest and creative. This will help connect the brands with their consumers. The WOM is implemented as a token contract on the Ethereum Blockchain, based on an ERC20-compatible standard such as ERC777.
Generation Z, people born during the mid-1990s to early 2000s, forms a significant consumer base numbering 65 million in the USA alone. This is the generation which has been most accustomed to hi-tech technology and filters out the banner ads and other traditional media advertising. This makes them a perfect target segment for the adoption of WOM token.
WOM is a now brands way to access authentic and honest user recommendations as well as ensuring that content creators are fairly rewarded for the value of their content. All the while providing platforms and social networks with a way to monetize that simultaneously delivers a better experience for their users.
The WOM Protocol is scaling an entire ecosystem enabling monetization of word-of-mouth (WOM) recommendations for brands, creators, and publishers. This project is live and being tested with more than 900 brands--including Adidas--and platforms with a network of hundreds of thousands of creators and authenticators.
As a real-world example, the WOM Protocol is currently being used to drive the marketing efforts of the WOM Token listing on KuCoin. The KuCoin Exchange places an emphasis on the quality of the projects listed based on a research department that scours the blockchain industry for quality projects. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries The fans are recommending KuCoin exchange via the YEAY app and the WOM Protocol is authenticating the recommendations to determine their authenticity. This authenticity and trust in recommendations are particularly vital in the crypto industry which is rife with misinformation.
The WOM Protocol is unique and successful because it reverses the current user-generated content trend seen in influencer advertising and other UGC advertising models. It uses blockchain as an incentive machine to incentivize individuals and platforms to create and distribute word-of-mouth content. With the WOM Protocol, recommendations from creators must first be authenticated and validated by the crowd. Once a recommendation is deemed "authentic," a creator begins to earn rewards for their recommendation. In this manner, brands benefit from honest word-of-mouth marketing and consumers trust the authentic, non-prepaid recommendations.
Authentication happens through the WOM Authenticator app, currently live on Android with iOS being developed as well. In the coming months, the WOM Protocol will launch a Campaign manager to give all brands and advertisers access to the authenticated WOM recommendations. Through the Campaign Manager, advertisers view metrics, set up campaigns, boost the visibility of WOM content, and measure core KPIs.
The WOM Protocol, together with the WOM Token, provides a way to reward creators without compromising consumer trust in the content and its creators. The WOM Protocol will become the main marketing channel for brands, targeting the $237 billion annual digital marketing spend, and the main revenue stream for content platforms.
Consumers trust their friends. Every day 2.1 billion product recommendations are made among friends on social media, emails and instant messaging. People casually share photos, videos, and links with one another promoting things they have bought or like without recognizing the commercial value of their actions.
This is why word of mouth marketing is the most valuable source of marketing. WOM also does not stop after just one interaction. One person will tell another, and that person will tell someone else, then that person will continue the chain and spread the word further, making it an excellent vehicle for exposure and distribution if used well. Although it is one of the oldest and effective forms of advertising, there is still not a reasonable method to tap into this crucial resource.
With the recent induction of blockchain technology in the marketplace, which allows for the transparent and immutable storage of data in the ecosystem, it is now possible to reward the authentic word of mouth appreciations and recommendations. A blockchain-based protocol which gives not only brands and advertisers but also content creators and publishers a way to monetize honest word-of-mouth recommendations is the need of the hour.
WOM Protocol, a next-gen martech solution that enables brands to leverage word-of-mouth recommendations, has just announced that its native WOM Token is listed on the KuCoin cryptocurrency exchange deposits were Effective form 29th of April 2020 with Trading Pair: WOM/USDT
WOM protocol, founded in 2018 by Melanie Mohr, has built a blockchain-based infrastructure enabling genuine word of mouth marketing. The participants now have an opportunity to get rewarded for their value growth and creations. WOM token will be used for incentivizing the content creators and content validators as well. The content needs to be desirable, honest and creative. This will help connect the brands with their consumers. The WOM is implemented as a token contract on the Ethereum Blockchain, based on an ERC20-compatible standard such as ERC777.
Generation Z, people born during the mid-1990s to early 2000s, forms a significant consumer base numbering 65 million in the USA alone. This is the generation which has been most accustomed to hi-tech technology and filters out the banner ads and other traditional media advertising. This makes them a perfect target segment for the adoption of WOM token.
WOM is a now brands way to access authentic and honest user recommendations as well as ensuring that content creators are fairly rewarded for the value of their content. All the while providing platforms and social networks with a way to monetize that simultaneously delivers a better experience for their users.
The WOM Protocol is scaling an entire ecosystem enabling monetization of word-of-mouth (WOM) recommendations for brands, creators, and publishers. This project is live and being tested with more than 900 brands--including Adidas--and platforms with a network of hundreds of thousands of creators and authenticators.
As a real-world example, the WOM Protocol is currently being used to drive the marketing efforts of the WOM Token listing on KuCoin. The KuCoin Exchange places an emphasis on the quality of the projects listed based on a research department that scours the blockchain industry for quality projects. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries The fans are recommending KuCoin exchange via the YEAY app and the WOM Protocol is authenticating the recommendations to determine their authenticity. This authenticity and trust in recommendations are particularly vital in the crypto industry which is rife with misinformation.
The WOM Protocol is unique and successful because it reverses the current user-generated content trend seen in influencer advertising and other UGC advertising models. It uses blockchain as an incentive machine to incentivize individuals and platforms to create and distribute word-of-mouth content. With the WOM Protocol, recommendations from creators must first be authenticated and validated by the crowd. Once a recommendation is deemed "authentic," a creator begins to earn rewards for their recommendation. In this manner, brands benefit from honest word-of-mouth marketing and consumers trust the authentic, non-prepaid recommendations.
Authentication happens through the WOM Authenticator app, currently live on Android with iOS being developed as well. In the coming months, the WOM Protocol will launch a Campaign manager to give all brands and advertisers access to the authenticated WOM recommendations. Through the Campaign Manager, advertisers view metrics, set up campaigns, boost the visibility of WOM content, and measure core KPIs.
The WOM Protocol, together with the WOM Token, provides a way to reward creators without compromising consumer trust in the content and its creators. The WOM Protocol will become the main marketing channel for brands, targeting the $237 billion annual digital marketing spend, and the main revenue stream for content platforms.
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