How To Set Up A Successful Brand Campaign On Fanfare

in News, Sponsored June 8, 2018 0

Videos have the power of influencing buyers to buy products because the viewers can actually watch the product function. It is not possible in any other advertising campaign. However, until now, the consumers were only able to watch the videos and share them. There was no way they could purchase the product directly from the video itself. They had to access the eCommerce website separately and key in the details. It can take up a lot of time and lead to frustration.

There are many problems that consumers can face:
- The product might not be available in stock.
- The seller might not be a genuine one.
- The consumer might find the same product at a better price in a different eCommerce store, and so on.

There is a need to tap into this incredible resource and maximize business for the manufacturer. Investing in advertisements like video campaigns can cost a lot of money. You need the message to go through to the end-consumer. The social media can play a significant role in influencing the end consumer to buy the product.

It requires integration of the social media and eCommerce platforms into a single unit where content creators can upload their video content with the brands being able to verify the video and add their "Buy" buttons to it. The user can then share the content on social media channels. The consumers can view these videos and endorse them further in their social media circle thereby performing the role of consumer influencers. They can also buy the product directly from the video by clicking on the Buy button. It leads them to the respective eCommerce platform and ensures that the transaction goes through seamlessly.

The role of Fanfare

Fanfare is a social commerce platform that allows this possibility. Fanfare has introduced the concept of distributing Fanfare tokens, a virtual currency also known as FAN tokens as a common remunerating medium to the video content creators, brands, the users or the consumer influencers, and finally the end consumer as well. Another significant benefit of Fanfare social commerce platform, is the setting up of campaigns by the brands.

What do the campaigns do?

The campaigns enable the brands to engage users to create more meaningful videos and generate a higher degree of awareness among consumers. It is in fact, a kind of a contest that rewards the winners handsomely. The brands have the right to choose their budget to attract more participants. Fanfare has stipulated the minimum campaign budget as 2,000 FAN tokens.

How to set up the campaign

The prime criterion for setting up the campaigns is to download the Fanfare App. There are two kinds of apps, the Fanfare User App and the Fanfare Brand apps. You can set up the campaigns in the Fanfare brand apps. The users can participate in the campaigns as the apps are integral to each other.

The campaign budget is split into three pools:
a) 55% of the Prize to be shared between the three winning video creators – Prize Pool
b) 15% as the reward to voters that vote for the winning video – Vote Reward Pool
c) 30% as a commission to the platform – Revenue Pool

- Participants can upload their videos to the Fanfare App. They have to satisfy the criteria laid down by the brands.
- Users can promote these videos by voting for them using FAN tokens. You need to exchange 1 FAN for every vote. This FAN token goes into the Vote Reward Pool. There is a restriction on the user as they can vote for a video only once, but they have the liberty to vote for as many videos as they like.
- The top three videos having the highest number of votes are the winners sharing the prize, with 60% going to first place, 30% going to second place, and 10% going to third.
- Also, the Revenue pool stipulates the distribution of the tokens in the following manner:
* 50% will go back to the users who purchase from the Fanfare eStore as eStore Reward Pool
* 30% will go into the Fanfare Pool to enable future developments
* 20% goes back to the users for watching the videos

Thus, you see that every participant benefits from the campaigns. The brands benefit as well because they get the chance to promote their products without having to spend vast sums on the conventional advertising strategies. The consumers benefit by being able to buy the product directly from the video.

To learn more, visit https://fanfare.global/.

To take part in the upcoming token sale, visit https://tokensale.fanfare.global/

Read Fanfare's White Paper and Lite Paper here and here, respectively.