CELEB $0.00005048
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Development of the Internet, popularization of smartphones, and expanding base of social media have brought dramatic changes in the marketing environment while making shifts in media strategies, from unidirectional provision of information through legacy media to bidirectional communication through social media. Rise of celebs that have great influences in the Internet based on their numerous subscribers made brands keep their eyes on their channels. That is because consumers tend to trust products or services that celebs have experienced and recommended. For that reason, many brands are conducting joint marketing campaigns with celebs for the sake of promotion of their products and importance of such campaigns is constantly growing. Moreover, as ‘celeb marketing’ industry grows, various problems have risen in the market and the corresponding solutions have become necessary. For an advertiser to conduct a brand campaign, considerable amount of time and human resource are spent for recruitment of the celeb and management of advertising execution. Although MCNs (Multi-Channel Networks) that manages celebs or multiple marketing agencies have entered the market for the sake of efficiency, their entrance resulted in the current unreasonable expenditure structure with increased cost burden to the advertiser and decreased rewards for the celebs. In addition, problem of absence of credible data on influence of a celeb for estimation of advertising fee has emerged. In other words, rewarding criteria of a marketing campaign are currently based on the number of followers because of insufficiency of objective data to analyze the contribution to the campaign and effectiveness of the promotion. Along with such a problem, negative aspects of viral marketing, including fraudulent actions (fake likes, followers, and comments) that fabricates the campaign outcomes, have raised doubts on the credibility. In short, “cost burden because of excessive intermediation fee, problems in efficient profit sharing because of absence of credible data, and verification of effectiveness of the marketing campaign” are the problems lying ahead. To solve those problems, Celeb Plus aims at a decentralized platform that enables reasonable consensus on rewards by directly connecting the members of the ecosystem, brands and celebs, through the blockchain technology and maximizes the efficiency to allow for reasonable spending of advertising expenses by recording activity data on the blocks and measuring contributions of each actor based on the credible data.