Attrace – Blockchain-Powered Affiliate Platform Poised to Disrupt the Affiliate Marketing Space?
Affiliate marketing is a relatively easy way to make a lot of money in short order. Naturally, this has attracted a ton of individuals who have been and are currently cashing in on the opportunity.
However, that industry is about experience a seismic shift in the form of a huge blockchain oriented disruption. While blockchain tech has been disrupting many other industries and space –most notably the financial sector- its impact on the ecommerce and affiliate marketing space hasn’t been as powerful… until now.
For those who don’t know what affiliate marketing is, it is simply the process of brands and product creators, manufacturers and ecommerce giants offering commissions to people who refer customers to their businesses.
Some of the more popular affiliate marketing platforms and networks include Amazon, Walmart, Commission Junction, Zappos, Clickbank and a ton more. If you do a quick search for “affiliate programs + niche”, replacing the niche with the intended industry, chances are you will find one or more affiliate programs in almost every industry there is.
Naturally, the low entry barrier as well as promise or evidence of decent to significant sized wages is a major attracting factor for affiliate marketing. In fact, it is not impossible for people to completely replace their 9-5 income courtesy of the proceeds from their affiliate marketing campaigns.
It is estimated that affiliate marketing is currently responsible for about 10 percent of ecommerce proceeds worldwide, generating about $13 billion every year. It is interesting though, that those figures only account for just 5 percent of digital marketing spend across the globe. That’s a minuscule figure.
Yet, in spite of these amazing numbers, the sector is bedeviled by its own issues. It is not unusual to hear affiliate marketers complain of shady practices by brands they promote or the affiliate marketing platforms on which they get the products and services they promote.
Major Issues with Affiliate Marketing
In spite of its very significant advantages, affiliate marketers currently have a few problems with a huge number of affiliate networks and programs. These include:
- Astronomical fees – some charge as high as 25 percent of your commissions
- Commission shaving –certain networks intentionally rip off affiliates by not properly attributing sales to their tracking codes
- Poor tracking of sales and referrals –this means lost sales and incorrect tracking data
- Long payment cycles –some affiliate programs pay every 45-60 days
- Cookie stuffing or cookie hijacking by affiliates –not as popular as it once was, but some affiliates still do this with less sophisticated networks
- Poor affiliate support –it can be difficult for affiliates to get a hold of someone on some of these networks if there’s a problem
While many affiliate networks are doing their best to offer affiliates incredible affiliate marketing solutions and tools to help them get the best results possible, they’re still lacking in a few areas.
Blockchain to the Rescue?
These gaps in the solutions provided by traditional affiliate marketing platforms can cost affiliates a lot of money.
Most affiliates would go to any length to promote a program with a super accurate link tracking system, a completely transparent system, an active contact/support, and one that encourages frequent interactions between affiliate managers and affiliates themselves.
These are some of the problems that certain affiliate marketing startups are trying to solve through their blockchain based platforms.
Blockchain already has shown its ability to execute and process p2p transactions on the blockchain network, ensure complete transparency so you know where what is going to, and do so speedily at very cheap or no fees.
With this in place, affiliates can better track clicks, links, impressions, conversions and a lot more metrics. Commission shaving, outright fraud and data manipulation would become obsolete. Payments would be processed faster –if not instantly- without the network having to charge substantial percentage as fees.
Unfortunately, most blockchain based affiliate networks are powered by ethereum platform, which still has significant flaws like slow transaction speed.
This is a problem because even though the ethereum team is feverishly working to increase its scalability as well as speed, there’s the major problem of ethereum itself. A platform can only function to the capacity that its parent platform/code provides.
There’s only one blockchain based affiliate platform that’s attempting to correct this anomaly by creating its own blockchain network. This company’s name is Attrace.
What is Attrace
Currently being built on a custom blockchain that’s powered by Google’s own Golang. Using top of the line technology, this platform will be home to an incredible world leading link tracking technology that tracks all links clicks as against just sales clicks.
The company’s key goal and unique proposition is to foster and engender transparency and trust.
It’s able to do so through the use of smart contracts attached to every link. With this in place, every time a link is clicked, it is tracked and registered, whether it results in sales or not. It’ll also be able to track all payments and sales, whilst displaying every information on the blockchain for transparency purposes.
With this technology in place, the company aims to drastically reduce the fees charged by traditional affiliate networks, publishers and merchants by 95 percent, so affiliates can get paid their due without any worries.
All payments from the platform will be paid out in designated fiat currencies. So, no worries about getting paid in tokens or cryptocurrencies.
The company’s profile include team members who have vast experience in affiliate marketing and management. Thus, making it a great platform for those who are interested in taking their affiliate marketing to another level.
In a bid to further create an amazing, world class platform, the company is launching its ICO with token presale going live in June 2018. Its merchant and publisher dashboard are slated to become operational in the fourth quarter of 2018.