This second patent award covers a novel system for rewarding micro influencers for posting content for local businesses on various social media platforms. During a campaign, influencers compete for points awarded for social media engagement, purchases or location visitsgenerated by their followers. Points are converted into rewards/dollarsand awarded to the influencers based on their performance relative toother influencers participating in a campaign. This “gamification” feature incentivizes influencers to compete for points during a campaign. Campaign details and selection of influencers can be facilitated using the “platform” as administered by a campaign administrator, a marketing agency or the business.

The platform is designed to track the engagement, location visits and purchases by followers of enlisted influencers and awards those influencers points. Points can be converted into money, coupons, products/services or other consideration.

The concept is targeted at promotions for local businesses using local influencers with local followers; but is also applicable to regional or national campaigns looking to engage micro influencers. Micro influencers have historically had a much higher engagement rate than celebrities or macro influencers, and they are especially relevant for local businesses.

Managing Member, investor and co-inventor Jim Valentine stated:

“Prior test marketing in dozens of campaigns has shown that the gamification feature incentivizes local influencers to participate and compete for the chance to earn money and rewards from their content, while also supporting local businesses.”

Valentine added: “ Having an influencer with a national reach of 100,000 followers does not necessarily bring traffic to a local restaurant, exercise studio, medical practice or event venue. Word of mouth advertising, from someone with even 1,000 local followers, can be much more effective for local or regional businesses; and these patents promote hyper-local engagement to produce results for businesses while rewarding local influencers for their efforts. This approach should be of interest to marketing agencies, other influencer platforms, and /or businesses with their own internal influencer programs.”                     

He added: “ Now that we have secured the second patent and filed athird application, we will turn our efforts to licensing, partnering, and/or raising additional financing to complete the build out of the platform.”

SPACO is a Limited Liability Company formed to pursue and monetize this unique and patented social media platform.

For further information or to explore licensing, partnering, or investment opportunities please contact: James Valentine, Managing Partner at jvalentine@spacollc.net

SPACO was represented before the US PTO by Forge IP, PLLC of Shelton CT, www.forgeIP.com .