Advertising on the internet is big business. Statistics show that the market volume this year (2017) will reach almost $228bn, and this figure is expected to grow to $335bn by 2020.
That is a big pile of loot, and many companies and entities want to join in the action and get their share.
There are many ways to advertise stuff through the net. Display ads, Google Adwords, Banner Ads, etc. All these have good market reach when they are targeted to the right audience.
But when it comes to rewards-based marketing, the best tool out there is affiliate marketing. In this model, a business rewards one or more affiliates for each visitor or customer earned by the affiliate’s own marketing campaign.
PM7 is a new ICO, offering a blockchain-based affiliate marketing platform that intends to directly connect creators and innovators with their potential customers.
This piece is an analysis of the facts available about the PM7 ICO. It should not be read as offering advice or a recommendation. While ICOs have quickly become a popular tool for funding projects and start-ups, they can also be very high-risk for token purchasers.
Additionally, ICOs currently have an unclear legal and financial status. Token buyers may find that their purchase does not offer them any security or equity because the ICO is closer to a crowdfunding initiative than a traditional IPO. As such, any investor who plans to buy tokens during any ICO needs to obtain all relevant independent advice and carry out their own appropriate due diligence.
PM7: Connecting innovators with customers across the blockchain
The idea behind the PM7 proposition is the creation of a decentralized marketing platform that enables project creators, innovators, and entrepeneurs to connect directly with their potential customers, thus removing the need for intermediaries such as marketing or advertising agencies.
Blockchain technology allows this direct connectivity.
PM7 in figures & quick facts
https://twitter.com/pm7com/status/942299549749727232
- Token Name – PM7
- Token Value – 1 PM7 token = $0.05
- Tokens Issued – 1,000,000,000
- ICO Start Date – December 17, 2017
- ICO End Date – March 4, 2018
- Token worth – $0.05
- Hardcap – $12,500,000
Payments can be made in BTC, ETH, LTC, and any fiat currencies.
The PM7 token
As with any other ICO, the company will issue its own currency, the PM7 token (PM7), which is based on the ERC-20 standard.
According to the company, “the PM7 tokens perform infrastructure functions and they are the identifier, the unit of measurement of PM7 events, and quantity of PM7 events per month that the backer receives by purchasing events during the ICO.”
Once created, the PM7 tokens will be distributed as follows:
- Contributors – 50%
- Company – 20%
- Advisors and Team – 13.6%
- Investors – 15%
- Bounty – 1.4%
All unsold tokens will be destroyed at the end of the ICO.
The team
PM7’s website lists 10 people as core team members, plus seven advisors.
The team includes a balanced mix of technical people (blockchain experts, software developers, etc.), and financial staff.
The Advisory Board brings in a lot of additional blockchain & cryptocurrencies expertise. Overall, the team appears solid and well balanced, with the right set of skills to suit this ICO’s objective.
Social Media presence and digital footprint
A strong presence on Social Media is usually a good indicator of a company’s popularity, though it is not the only factor that determines success.
Here’s the numbers for PM7 at the time of writing (December 2017).
- Twitter – 984 followers
- Facebook – 88 followers
- Medium – 148 followers
- LinkedIn – n/a followers
- Telegram – 138 followers
So far, this ICO’s presence on Social Media appears to be rather poor, but this is common for start-up ICOs. PM7 does have a lot of work to do on the Social Media front over the coming weeks and months.
Competition
There are other ICOs out there offering decentralized affiliate marketing programs. Bitcomo and Hoqu, to name just two.
This means that PM7 will need to better these ICOs’ offering, if it’s to gain a good market share. The first step would be to establish a more solid presence on Social Media, to extend its reach and make its value proposition known.
Other ICOs offering affiliate marketing programs are likely to come into the market also, the pie is bound to become smaller as time goes by.
Website quality & layout
An ICO’s website is the first port of call for any potential investors, and if the site isn’t appealing enough, they will move on and forget about your proposition, no matter how good or viable it may be. It is therefore imperative to design a good website, to make a strong and lasting first impression.
PM7’s website is secure and well designed, with a pleasing color palette and properly laid out information. The language could be improved in a few areas though, such as the FAQ for instance. This sort of problem is very easy to avoid by hiring a proofreader, though the budget may not always be readily available there.
In any case, PM7’s site is easy to navigate and use.
Whitepaper
A well laid out, informative, comprehensive Whitepaper is a must for any ICO, if they are to be taken seriously. Documentation is sometimes treated as an afterthought, leaving many companies open to some criticism.
PM7’s Whitepaper comes in on the brief side, just shy of 30 pages. Though brief, the paper is very informative, providing background information on the ICO’s proposition and concepts, etc.
Once again, the language used throughout the paper is rather poor in places. This detracts from the overall experience, and it is entirely avoidable.
All things considered, the PM7 paper ranks as ‘passable.’
Conclusion
The idea of developing affiliate marketing programs on the blockchain is a rather interesting one. The technology allows for a decentralized implementation of the marketing strategy, potentially connecting innovators & project developers with their customers directly.
This direct connection may play in everyone’s favour, enabling a quicker and more profitable turnaround time for everyone.
We’ll keep a close look on PM7’s proposition and report back on its progress.
