3 Things That Must Be Done Immediately To Make Steemit.com A Better Experience- May 30 Days Writing Challenge (Day Seven)
Welcome to the 7th day of the May 30 days writing challenge. If you don't know what this challenge is about, please have a look at the introductory post: https://steemit.com/steemit/@dragosroua/announcing-may-30-days-writing-challenge-strengthening-the-steemit-community Also, at the end of each article @dragosroua will post the links to all the posts in the challenge (if you're joining the challenge, you are encouraged to do the same). Also, if you join, don't forget to tag your post with #challenge30days and also leave a comment with the link of your post, so he @dragosroua can evaluate if you're one of the 3 lucky Steemians that will get a full upvote from me.
So let's talk about today's topic:
3 Things That Must Be Done Immediately To Make Steemit.com A Better Experience
As envisaged by @dragosroua, today's topic will certainly create some conversations. And indeed, that's a good thing. First and foremost, before I name the 3 things that must be done immediately to make Steemit.com a better experience, it important to highlight steemit's core problems/challenges. This is identified by @yallapapi in his post: https://steemit.com/steemit/@yallapapi/hey-steemit-whales-how-d-you-like-to-fix-all-of-steemit-s-problems-and-make-bank-by-doing-absolutely-nothing
The problems
- Minnows don't make any money from their posts
- Minnows get no exposure for their posts
- There is no incentive for high SP accounts not to rape the reward pool
- Steemit is flooded with unedited, low quality content
- New users leave quickly once they realize that paid upvotes are the only way to reliably make money and get exposure
These are all problems that everyone has acknowledged.
The solutions to this problems which I will summarize among the 3 things that must be done immediately to make Steemit.com a better experience are:
The solution(s)
- A new account could be created to specifically to pay minnows in SBD for contributing content
- Agreements are reached with high SP accounts to upvote every single post on the account (similar to the @haejin - @ranchorelaxo arrangement)
- Rewards are split between the writer, the whale and the posting account
It should be obvious how this will solve a lot of problems and make Steemit.com a better experience. Let me try to explain the above solutions for your better understanding.
EXPLANATION OF SOLUTION 1
What we need here is a consistent, reliable solution where content creators know that they are going to make a certain amount of money on every post.
If, however, high SP accounts agreed to fund an account with their own upvotes, then the SBD/SP generated from these upvotes could be used to pay authors directly for their contributions. Authors would know going in that they would receive the equivalent of $25 USD (for example) per approved post. Why is this good? Because all of a sudden they'd know that they'd be guaranteed a payment for every article they write - just like in the real world.
EXPLANATION OF SOLUTION 2
Not only that minnows don't make any money from their posts, their posts are quickly buried under a mountain of content from other users. Oneway to circumvent this is with paid resteems. I am a fan of these services.
The best way to guarantee that people read your content is by having a large following on your account. If you have 20k followers on your blog, then you have a much higher chance of your work being seen than if you only have 200.
Minnows need to work together to get exposure both for their own posts as well as for each others. In other words, if you have 10 accounts that submit one article each, and all of these accounts promote each other's posts (as well as the main account's), then you are reaching 10 audiences instead of 1. This is commonly used for Instagram marketing and known as an engagement group. Everyone joins a group and likes each other's posts. So instead of only your own followers seeing pictures of your breakfast, lots of other people get to see it as well.
Through this system, Minnow accounts would be able to grow at a much faster rate because the amount of "seeds" on Steemit with links to their content would be multiplied significantly. Not only would they plant a seed on each of the participating users' accounts, but they'd also receive a link on the main account.
EXPLANATION OF SOLUTION 3
One of the risks of the Steemit system is that certain high SP accounts will upvote all of their own posts and use the platform as a money-printing machine. This happens because high SP accounts have no incentive to stop upvoting their own posts. A little animosity from some anonymous internet personalities is not powerful enough motivation to turn off your money-printing machine. Until there is a reason for them to use their SP for something else, they won't stop. That's just basic economics.
Therefore my suggestion is that for this high SP accounts to outsource the labor of making post to hungry writers. Trust me, creating 10 posts per day is a massive time sink. By outsourcing the labor to hungry writers, high SP accounts would be able to spend their time: creating a long-term strategy that would bring in even bigger profits, Negotiating deals with enterprise-level companies, and even creating content for a $500/month paid newsletter, whatever.
One will ask other than taking the task of content creation off their hands, what's in it for them?
The answer is:
All sponsored posts would have a link pointing to the whale's main blog/website/whatever, so they'd still be getting new followers and customers without doing any actual work.
Furthermore, they'd still make money from the posts because a significant portion of the profits would be paid out to them on a weekly basis.
On top of that, they also make an additional 25% from curating the post as well.
Worth mentioning is that they would establish some good will with the rest of the users on this site for spreading the wealth around. With this type of business model, they would know that they were responsible for enabling aspiring authors to make a little extra money from contributing content to the platform.
Imagine how grateful these authors would be for the opportunity to
- reliably get paid actual money for their writing, and
- get exposure for their brand/business/whatever. That gratitude could turn into potential future business opportunities for people who enjoy working together.
Finally, and perhaps most important, is that Steemit would go from a place where authors can make money maybe possibly if the stars align and they get a @curie upvote, to a place where freelance writers could get reliably get paid in the double-digits to write high quality posts.
THIS I BELIEVE ARE THE 3 Things That Must Be Done Immediately To Make Steemit.com A Better Experience
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Good info. Thank You.