Welcome to the @OriginalWorks sponsored writing contest!

Status: CLOSED

Accepted Languages:

• English

Start Time: ~9 PM EST, Saturday
End Time: CLOSED.

Special Twitter 0.5 STEEM bonus!
Details outlined at the bottom.

This is a call to all great Steemit writers! Patron has sponsored a Steemit writing contest!

Please make sure to read the contest topic carefully. Good luck!

Prize Pool Total: 2300 STEEM

Prizes: 1900 STEEM + 400 STEEM (100 bonuses of 4 STEEM!) + Twitter Bonus (Details Below)

• 1st Place: 117 STEEM
• 2nd Place: 110 STEEM
• 3rd Place: 100 STEEM
• 4th Place: 95 STEEM
• 5th Place: 85 STEEM
• 6th Place: 80 STEEM
• 7th Place: 75 STEEM
• 8th Place: 70 STEEM
• 9th Place: 65 STEEM
• 10th Place: 60 STEEM
• 11th Place: 55 STEEM
• 12th Place: 50 STEEM
• 13th Place: 45 STEEM
• 14th Place: 40 STEEM
• 15th Place: 38 STEEM
• 16th - 20th: 30 STEEM
• 21st - 25th: 25 STEEM
• 26th - 30th: 20 STEEM
• 31st - 40th: 17 STEEM
• 41st - 50th: 15 STEEM
• 51st - 60th: 12 STEEM
• 61st - 160th: 4 STEEM Bonus

Deadline: 72 Hours

All articles must be submitted within 72 hours of this post to be considered!

Changes in submission rules below

Influencers and the Social Media Economy

Long ago were the days when the term celebrity applied only to those people made famous by some institution whether it be artistic, scientific, athletic, etc. Today individuals can use the power of SNS (Social Networking Service) via their mobile device to interact with and influence millions of people to the same effect as celebrities we idolize.

Influencers are people that can affect the behaviors of their followers on social media networks such Instagram, Facebook, and YouTube, to name a few. Influencers are often sponsored by companies to promote their products to the people following them. Many goods are advertised through social media as individuals are sometimes more relatable than brands and share a real connection with the other individuals that subscribe to them.

Patron and Sharing the Influencer Economy

Marketing is a difficult problem to optimize. Often the forecasts surrounding the results of a planned marketing project are inaccurate. Patron is a novel idea combining the Social Media market as it stands with the new sharing economy as introduced by AirBnB and Uber.

One of the things Patron does is divide influencers into categories and rank them based on their followings. This is extremely useful to sponsor companies who could not, until now, be sure of the effectiveness of their marketing campaigns.

Patron allows its influencers (one of three user-types; the others being fans and sponsors) to share their followers with sponsor companies that are looking for targeted marketing. This creates the opportunity to price various influencers accurately based on how many followers they have and how often their followers purchase goods.

The blockchain is very useful in this model as it does not require any third-party escrow service to connect followers to influencers, and influencers to sponsors. All of the transfers and receipts of value between the members of the network will be immutably recorded.

How does Patron determine an Influencer’s worth?

Patron has three criteria by which it judges its influencers.

• Number of Followers
  · The number of people are available through this user’s network
• Engagement Level
  · The frequency of engagement between the influencer and their followers
• Reputation
  · Reviews of the influencers from their followers

The Patron Model

As mentioned earlier, there are three different user-types in the Patron network. They are as follows:

• Host; or Influencer
• Guest; or Sponsor
• Fan; or Follower

Influencers (Hosts) can set contracts with sponsors to secure a stable income over some length of time. During this period the influencer might only promote the sponsor’s materials if their contract stipulates so. In this scenario the influencer acts as a brand ambassador for the sponsor. Influencers can also actively advertise themselves to sponsors based on specific contract demands.

Patron Demo

Sponsors (Guests) will be guaranteed to reach a certain following for an agreed timespan. These followers will be a of a certain demographic or target market as pertains to the materials the influencer is advertising. Sponsors can also lock in a demographic over a long period of time if the right influencer agrees to a year-long contract, for example. Sponsors have to be screened to be able to access the Guest options: criteria includes agency and financial capability in the case of individuals.

Benefits of Patron

With Patron a sponsor can spread their information quickly to both its key demographic and related crowds with minimal research and investment. Sponsors can also target more than one demographic at once if they are complementary.

Influencers can build a brand around themselves based on their followers, the companies they have previously worked with, and their price-range. Some influencers can have high costs for access to few specialized followers who are repeat buyers, or they can price themselves cheaply and release multiple contents to a wider, general audience.
Followers will benefit from better content generated by a network which is better able to monetize the value derived from their attention. Paid influencer and profiting sponsors usually come hand in hand with more relevant ad campaigns and media productions.

Patron Token

The PAT will be used:

• By sponsors to engage with influencers and utilize their networks
• By fans to promote the content of the influencers their follow through “likes” which in turn raise the influencer’s ratings and their marketability
• By influencers to reward fans for contests, promotions, and events

Use-Case

Joey, from Germany has a sizable social media following of 50,000 users. His content is often centered around kitchenware as he is a cook who enjoys specialty tools. He wants to capitalize on his market. Although his following is smaller than many celebrities, who have millions of followers, his following is of a very specific demographic - kitchenware enthusiasts.

Kitchen Knives Co, based out of Manhattan is a global kitchenware manufacturer. Their brand caters to professional chefs and cooking enthusiasts. They sell very specific kitchen tools that can’t be found in traditional stores. They are looking to enhance their marketing to bring on new customers.

They have tried social media before, but the outcome wasn’t very good. They realized that advertising with celebrities is costly, and often not effective. This is where they stumbled upon Patron.

With Patron, Kitchen Knives Co was able to connect with Joey. Although his following is only 50,000 users, those users are all kitchenware enthusiasts. They found that the conversion rate by advertising with Joey was over 10%, as opposed to 0.02% with some of the celebrities they have worked with! His 50,000 followers brought in more sales than the 5,000,000 followers their celebrity advertisers had.

Patron Availability

PAT can be easily attained via other cryptocurrencies or via FIAT payment! In order to make it easier for traditional consumers to enter the economy, Patron had made it super easy for users to get started with Patron.

Conclusion

Patron is a novel idea with a simple outlook. It seeks to apply the sharing economy principles to the social media networks we all enjoy today. In doing so it will bring efficiencies to marketing efforts of companies and individuals which are looking for specialized followings and key demographics.
This precision and efficiency are achieved by ranking influencers via their content and followings so that dollars per views or impressions can be optimized. To the influencer’s benefit, employment or ambassador contracts can be initiated to smooth the ups and downs of the freelance income lifestyles most content generators find themselves in. In this way sponsors guarantee themselves access to their target demographic for a certain time period as well.
Finally, the fans benefit because a more reliable lifestyle for content producers and more accurate metrics for sponsors will generally lead to better content for consumers.

Here is a few videos that gives a quick overview: