Under the Performance Marketing, the publisher usually pays out the amount to an advertiser without being known about the actual number of intermediaries involved. Subsequently, payments made during this process are not as transparent as what we are typically paying through the blockchain. And here comes CROM.
However, digital advertising like search marketing, affiliate marketing and social marketing is growing at a rapid pace, where the accurate tracking with seamless payment integration is highly demandable.
Breaking Down Performance Marketing
The term refers to an advertising program or an interactive advertising in which an event/lead/sale is measured based on its performance. And the service price is paid according to the performance of the Ad. The performance marketing campaigns are now employing brands to measure the reach, to decrease the cost per acquisition and to evaluate conversion rates as well.
What is CROM?
CROM is envisioned to create a transparent era for performance marketing through Blockchain-based transactions. The network presents a “clearing house” approach in a value chain which embraces all the parties involved. The value chain proposes the set of events/actions initiated by parties that contain post backs [event information] and the CPx [financial settlement].
Parties involved in an event chain
Advertisers: One who initiated the process for an event/sale/action and is agreeing to pay. Primarily, they seek for the conversions (the CPA, CPL, CPO, etc.)
Networks: Parties are settling the advertising mechanism between publishers and advertisers. They are the intermediaries, responsible for forwarding the event information to the following parties in a value chain.
Publishers: Those who perform to complete the event/action and receive the payment.
Why is CROM employing the Blockchain for Performance marketing?
The prime objective of employing blockchain technology for performance marketing is to evaluate and ensure Ad payment is equivalent to its performance. With this, the CROM platform creates an open network and transparent contracts between parties, where advertisers are well informed about the network created and some affiliates involved.
Performance marketing under the digital advertising industry is, however, a small concept but has an excellent scope with regards to employing blockchain technology. CROM stands out from other ICOs, as it has identified one potential of the blockchain that is highly certain, rather than a riskier approach of trying to revolutionize the whole industry.
The insertion orders (IOs) set forth for a legal relationship in an advertising industry can make a significant impact if encrypted with the smart contract.
It is true that industries that are operating via Blockchain technology leverage the best of management. Respectively, digital advertising pace can efficiently be managed and tracked with distributed ledger architecture of blockchain technology.
Often, payment for cross-border advertising networks is quite tricky regarding currency denomination, type, and the legislative rules. CROM initiates a well-organized payment system that can be processed instantly, safely and economically.
About the CROM Token Sale and Supply
- Token name: CROM,
- Total Supply: 10 million,
- Pre-ICO Token release: two million tokens (with 25 percent bonus),
- ICO token release: four million tokens (at nominal rate),
- Pre-ICO sale: November 17, 2017, to December 1, 2017,
- ICO sale: December 1, 2017, to December 15, 2017, or until all CROM tokens are sold out,
- CROM token price: 0.01 ETH (1 ETH = 100 CROM in ICO, 1 ETH = 125 CROM in Pre-ICO).
These tokens will be released under the ERC20 standard with Ethereum smart contracts. The standard ensures token is easily transferable with an implementation of every big wallet. Also, there is the unique mechanism that the tokens are more valuable the longer one uses them, which is certainly appealing to investors.
Upon completion of the crowdfunding campaign, CROM is proposed to list on an exchange by end 2017 and has a diverse business plan up until Q1 2019.
The CROM has experienced marketing professionals and the team is business focused, catering to the target industry’s needs. Namely, the advisors are Lorenzo Green (Co-Founder and CEO Monetizer), Christoph Vilanek (CEO at Freenet AG), Niren Hiro (Silicon Valley investor).
The group of advisors are not from a blockchain background but rather from the industry, with the experience necessary to guide the project to success and implement the benefits of blockchain technology.
CROM has scope for all; cutting down the cost per transactions paid by advertisers and networks and ensuring publishers gain significant bonus benefits to publishers. Relying on the well-established Ethereum contract, CROM increases the security, liquidity, and transparency across performance marketing in the digital industry.
To find out more about CROM, you can find their whitepaper here.