As part of the Blockchain Hustlers series, we spoke with Luke Rohenaz, CEO of TonicPow. He introduces the TonicPow marketing platform, how to use it, and the benefits for brands and marketers.
TonicPow solves key problems in marketing – poor conversion & bad auditability
As an introduction to the pain points TonicPow solves in marketing, Rohenaz mentions the problem of enterprises that they are not sure whether their advertising expenditure is efficiently used.
Influencer marketing, while sometimes effective in reaching target audiences, is facing the issue of poor conversion rates from engaged followers to actual customers. A reason for this is a lack of measurement and tracking. Brands may not have accurate tracking mechanisms in place to measure the success of their influencer marketing campaigns, leading to a miscalculation of their return on investment.
Rohenaz also cites problems on the part of promoters and actual customers. These relate to the fact that promoters often have problems with slow payouts or have difficulty promoting brands and products that fit their own audience. The actual target customers, on the other hand, want to protect their privacy above all and do not want to be spied on and that their data gets catalogued in databases for marketing purposes.
How TonicPow works
It is pretty straightforward to create a campaign on TonicPow. An advertiser would simply have to enter its credentials, fund their account and can then start creating a marketing campaign. The goal could be clicks and conversions of a particular link, or creating social media posts on a particular platform. Campaign goals can also be manually defined, such as a newsletter subscription or the sale of a t-shirt.
As the platform is still in its early days, there is some friction in getting started, the CEO of TonicPow explains. Currently, customers must deposit BSV blockchain to fund campaigns, but this is expected to change in the future, when TonicPow will allow customers to load up campaigns using their credit card.
Instant Payouts and tracking of all relevant interactions
TonicPow allows promoters to self-select which companies they want to work with, providing more control and flexibility in the marketing process. This way, they are in control themselves and can ensure that the brand or product being advertised fits their own audience. In addition, TonicPow also provides instant payouts using BSV blockchain, allowing for fast and automated secure payments to their promoters.
This is made possible by the fact that all interactions related to the campaign are stored on the BSV blockchain, allowing for perfect auditability for all sides. Rohenaz describes this process in more detail:
‘We actually record all the payments, so we first and foremost use it as payment rail. When promoters are receiving rewards for a commission on a sale, getting a certain number of clicks from their account or sharing something on social media – that is all registered on the blockchain and there’s an audit trail there of all the activities so that the brand can actually see what happens, see where the traffic was coming from, who delivered it and when.’
Advantages of BSV blockchain over the API interface
Luke Rohenaz highlights the advantages of the platform in terms of scalability and data storage. TonicPow uses transactions to store data, which allows for a neutral way of displaying statistics and other important information. This is a departure from traditional API-style interfaces, which do not have this capability.
Another advantage of the platform is its low transaction fees. This makes it possible to make micropayments for small ticket items instantly, without the fees exceeding the payout. This is a big advantage over other digital currencies, where the transaction fees can be quite high and would exceed the payout, rendering the process completely unusable.
In summary, the platform’s design offers a unique solution for marketing and payments, providing scalability, data storage, and low transaction fees, making it an ideal solution for small ticket tasks and micropayments. The platform’s use of blockchain technology allows for a neutral and transparent display of statistics, making it a valuable tool for marketers and businesses.