Are We Getting More Dedicated People Signing Up???

It is easy to look at the total number of account on the Steem blockchain and focus upon that. However, we do not need more accounts signing up, we need more active accounts. While it is great to have millions of accounts, if there are still the same 50K transacting accounts daily, little was accomplished.

@steemhunt had an interesting post today that details their latest findings.

Since Hard Fork 20, they are one of the leading DApps in claiming accounts. A few weeks back, they came out with a beta version of their sign up process. This allowed them to on board users their their application as opposed to people having to go through Steemit. The ability for applications to do this was one of the big changes from the Hard Fork.

The thinking is that the applications will provide a better retention rate than there was before. This means that people who sign up via an application is likely to use that site, hence becoming a regular user.

Is this what is happening?

According to their statistics in their post, it does appear they are getting better results. They signed up 1,178 accounts. Of these, 40% visited 5 or more times with 26% doing so more than 30 times. I am going to presume these numbers are slightly depressed since anyone signing up in the last few days most likely did not have a chance to visit 30 times. Nevertheless, it does give a good basis to work from.

This far surpasses the Steem numbers so far.

Right now there are somewhere around 1.18M Steem accounts. There are approximately 50K transactions accounts on a daily basis. Even if we double that number to 100K with people who visit yet do not transact, we have less than 10% rate.

The means that @steemhunt's conversion rate far exceeds the overall for Steem.

Another way of looking at it is through those with SP. There are a 260K Steem accounts with any Steem Power. That means these accounts did something to get that. In other words, they transacted at one time or another.

There are 117K account with 10SP or more. This is another level that shows some activity at one point. Obviously, more activity was required to reach this level yet I doubt we could call them "loyal" users.

The accounts with 1 SP amount to 22% while the ones with 10 SP equal 9.9%.

With this conversion funnel strategy, we have successfully encouraged 40% of the total sign-ups to become frequent visitors, and 26% have become loyal users.

https://busy.org/@steemhunt/steemhunt-users-converting-strategy-or-term-5-influencers-or-sponsor-report-32

No matter how you break it down, the numbers realized by @steemhunt far outpace what Steem has experienced overall. Sure we can attribute this to a small sample size, to being a short time period, or the fact that this is an aberration. The point is that this application is finding a retention rate that is much better than was seen before.

Which brings up the bigger question: are we seeing a more dedicated user joining the Steem blockchain?

The numbers coming out of @steemhunt would lead me to believe that is the case. This holds with the logic I discussed leading up to the Hard Fork. People who are signing up through an application are interested in something they saw. Steemit is a rather complex site since it deals with a great deal of the ecosystem. Trying to figure out STEEM, SBD, and STEEM Power in addition to navigating around is a challenge. One of the major drawbacks to Steemit is the complexity to it.

@steemhunt does not deal with that. Someone joins because they are interested in tech gadgets. It is a rather focused market. Couple that with the fact the site is easy to use and the individual needs to concentrate only on Hunt tokens is a great help. From there, the learning curve can commence yet someone can take it in stages.

As more applications follow this path and start to on board their own users, we should see an overall improvement in the Steem numbers. I am not sure 40% or 26% will be the norm, it might be higher or lower. The point is we will see the topping of single percent like we experienced before.

Here is one instance where we can saw Hard Fork 20 was a success.

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Picture from post linked in this article.