Blockchain Project To Make Affiliate And Referral Marketing Accessible To All Businesses

A new platform is using Blockchain to make smart marketing programs affordable and practical for small and medium-sized businesses.

Gagapay Network says word-of-mouth marketing is one of the most powerful tools around for establishing a loyal base of frequent customers - with research by Nielsen suggesting 89 percent of shoppers trust recommendations from people they know above everything else.

In its white paper, Gagapay Network cites Webprofits research that suggests 75 percent of companies find referral programs to be the lowest-cost method of attracting new clients, with 78 percent claiming they are "More loyal than other customers."

The company plans to blend affiliate, referral, network marketing, loyalty and bounty programs in one place on a SaaS platform powered by smart contracts and the NEO Blockchain, and hopes this will remove the barriers to entry which are denying fledgling businesses the growth they deserve.

Targeting Blockchain and non-Blockchain businessesGagapay Network illustrates the power of referrals with the example of Dropbox.

Affiliate programs have worked wonders for Amazon, which had 180,000 websites promoting its products as of 2017.Both Blockchain and non-Blockchain businesses are going to be targeted by Gagapay Network, which plans to offer three tiers of membership to appeal to enterprises of all sizes.

Gagapay Network believes smart contracts also have the potential to eliminate the trust issues which are currently dogging the affiliate marketing sector, as they would ensure rewards are distributed on time and new referrals are recorded accurately.

GTA utility tokens are going to be at the heart of the Gagapay Network, allowing businesses to purchase annual memberships, unlock extra features, and enjoy reduced commission fees.

Marketers who are paid in this cryptocurrency will also be able to spend their earnings through a prepaid Mastercard or Union Pay card - making it feasible for them to join campaigns offered by Blockchain companies.

By the end of the year, Gagapay Network hopes that a beta version of its platform will be live, with a "Limited number" of Blockchain companies testing the system and offering their feedback.