This is how business used to work: the client contracts an online agency to run a campaign based on hearsay or prizes. No matter how the campaign performs, the agency invoices the client for the costs, and the client pays in 30 to 90 days. This arrangement has many obvious downsides.
To create a truly competitive field on Sether, brands can now contract the services of an online advertising agency, then run and monitor the entire process through the platform, from the creative process to the actual results of the campaign. Finally, the client only pays for the results.
To start a campaign, the client and the agency agree to the project deliverables and choose a set of Key Performance Indicators to reflect the performance of the campaign. At the end of the campaign, these KPIs decide what percentage of the objective was achieved.
These objectives are programmed into a Blockchain Smart Contract and cannot be changed until the completion of the campaign.
The Brand and the Agency agree to clear objectives, then the Brand loads the funds for the project on the Blockchain, where they are secured by the Smart Contract supervising the KPI values, for the entire duration of the project. The Blockchain acts as an Escrow account, holding the funds, then automatically distributing them to the Agency, depending on the performance of the campaign.
The Brand needs the agency to create the campaign, and then to implement it. On Sether the budget is split between the two before work on the project begins. By fully providing the creative part of the campaign, the agency secures only part of the budget. The balance is paid according to how much of the KPI values were obtained.
Each time a campaign is setup between the Brand and the Agency, a Smart Contract will be programmed to remember all KPIs and brief deliverables, as well as to hold the entire budget for the duration of the campaign.
Like an Escrow account, the Smart Contract releases a part of the budget after the agency sends all deliverables, and the other part at the end of the campaign, after checking, and according to KPI completion.
Our main feature is Arbitration, but the platform can be used to simply monitor Key Performance Indicators on a project you run internally, without using the services of an agency. Campaign monitoring is used to motivate employees, to learn about your audience or to continually improve products or services.
Establishing benchmarks, goals and efficiency bonuses for campaign performance will create a truly competitive environment for agencies, driving creativity and promoting professionalism in the field. And get you really cool campaigns.
You only pay for results. Working with an agency no longer implies spending the entire budget with no regard to the outcome of the campaign. You can now split it between Agency Performance and Campaign Performance, and a Smart Contract will calculate automatically how much you have to pay for each, according to what the Agency delivered and how the campaign performed.
Win pitches. By offering to work in a transparent medium that measures all the KPIs involved and regulates the payments according to results, you secure the client’s trust and present a unique guarantee of your commitment to the project, offering fair treatment for both parties.
The client loads up the entire budget of the campaign on the Blockchain, which automatically releases it as the project reaches certain pre-approved goals. Waiting to get paid will become a thing of the past. By securing the payment for a project as it unfolds, you can count on your finances, grow and secure the necessary cash-flow for day-to-day operations.