Eliminating 'Skip Ad' Frustration:
The advertising industry has long dominated the revenue streams of social media and web platforms. However, this often comes at the expense of content creators, who receive little to no compensation for their efforts, while its platform users are bombarded with intrusive ads. We've all experienced that familiar "Skip ad" feeling. But what if there was a way to replace those ads with authentic content about brands and reward creators in the process? This question is what has driven the WOM (Word-of-Mouth) Protocol, a groundbreaking martech solution set to disrupt the $531 billion digital advertising and marketing industry (source).
Empowering Creators and Authenticators:
User-generated content on platforms often includes valuable recommendations, but brands struggle to track and utilize this platform-native content effectively. By integrating the WOM Protocol, platforms empower creators to monetize their brand-related content by submitting it to WOM for potential use. This simple option allows creators to earn rewards and provides brands with valuable content for their marketing strategies.
Authentication and Quality Assurance:
Authenticity is crucial in advertising and a reason why brands' content budgets are already shifting to influencers and now UGC creators rather than high production agency ads. To ensure the highest quality standards, content undergoes an authentication process before it can earn rewards. Authenticators, who are users willing to contribute to the ecosystem, play a vital role in rating the content for authenticity, positivity, and creativity.
This peer review process ensures content is attractive for brands to pay in and not a negative review. In addition, the rating ensures that smaller content creators, who might not have a big following, have a chance to monetize as the rating is one of the factors the protocol takes into consideration when rewarding creators.
Content authenticators also earn for their efforts in maintaining content quality and are rewarded for their contributions.
Finding, Tracking and Rewarding Content:
Content that successfully passes the peer review process becomes eligible for rewards within the WOM Protocol. The protocol takes into account the content's overall rating and engagement on the platform to determine the allocation of daily rewards. Brands gain access to the content relevant to them through the WOM Campaign Manager, allowing them to incorporate it into their marketing campaigns. This can be achieved by boosting the content as ads on integrated platforms or showcasing it on their websites. As a result, platforms have the opportunity to monetize campaigns with user-generated content, offering users a less intrusive ad experience that aligns with the platform's native content.
By utilizing the WOM Campaign Manager, brands can conveniently access and utilize the content associated with their brand. Thus, making it easier to even find their product lovers.
When a brand launches a campaign, 50% of their budget is allocated to the dedicated marketing campaign, while the remaining 50% is allocated to the WOM protocol itself. This distribution enables a sustainable reward mechanism. By ensuring a continuous supply of rewards, the protocol can consistently compensate creators, regardless of any specific brand involvement. This balanced approach guarantees that the WOM Protocol never exhausts its reward pool, fostering a fair and reliable ecosystem for all participants involved.
Facilitating Micro-Transactions for Brand-Related UGC:
By leveraging the power of web3, WOM seamlessly facilitates all those micro-transactions required to reward authenticators, content creators and platforms. In addition, tracking content rating and content engagement becomes possible on a global scale and ensures trust in the system. Essentially the protocol removes the hassle of tracking and rewarding content.
Owning vs. Monetizing Content:
While current web3 projects in the SocialFi space are often focused on content ownership, the WOM Protocol is focused on delivering a solution for creators to expand their monetization opportunities with UGC. Creators are already recommending brands on platforms daily, without any personal benefits, other than sharing something they love with their community.
Now creators can do more. They can submit that content and increase their chances to be seen by brands, as well as monetize it. Transforming passion into a sustainable revenue stream.
A Win-Win for All:
The WOM Protocol creates a harmonious ecosystem where creators, authenticators, brands, and platforms all benefit. Creators earn based on the engagement and ratings their content receives, while authenticators are compensated for their role in ensuring content quality. Brands pay to access and utilize WOM authenticated content, while platforms receive compensation for displaying the content. It's a win-win scenario that fosters collaboration and empowers all stakeholders involved.
Web2/Web3 Agnostic:
WOM Protocol is not just another Web3 social platform; it is a true protocol technology that can be seamlessly integrated into any existing platform. This decentralized solution tackles the inherent issues of the advertising ecosystem by redefining the relationship between platforms, brands, and creators. It offers a fair and transparent way to monetize user-generated content without compromising user experience. By embracing the existing user behavior of creating content about brands, WOM Protocol paves the way for a new era of advertising where everyone benefits.