eSteem Promote -- a Fix for Steemit Promote
In my previous blog post I have described the problem we have with Steemit Promote feature. If you haven't read that blog post yet, you can read it here.
I would like to submit a proposal to @good-karma and his #eSteem team to bring eSteem Promote feature that fixes the problems with Steemit Promote to eSteem App.
To summarize the issue. Currently those who would like to promote ther post send various amounts of Steem Dollars to @null, and that money is gone. In return promoters are not getting much. Only the ones who are sending hundreds of dollars are able to take advantage of the feature. A lot of small promoters are just donating their SBD for nothing. I am one of those people. I have donated 10 SBD.
In this situation this is not appealing for serious advertisers to promote that way, and more importantly most of the promoted content doesn't even get high exposure.
Here is the fix I propose. Instead of SBD being sent to @null and burned, that money should be held in @promote account and users who interact with the specific promoted post should be rewarded with that money.
Promoters and advertizers would send their promoting/advertising money to @eSteem_promote or @eSteem_ads with the memo of the blog post that has the tag of #eSteem_promote or #eSteem_adds. Now all of the users have a chance to interact with the post, and those who do get rewarded. Based on the amount used to promote, there can be a random selection among those who interacted (upvoted or commented or something else). If the amount is smaller then one user can randomly be chosen and rewarded with the SBD used to promote that post. If the amount is higher it can be given to random multiple people, again only those who interacted and/or engaged with that post.
Now this will create a great amount of traffic to eSteem_promote posts, since there will be many, everybody has a great chance of being rewarded. On the other hand promoter / advertiser getting the maximum potential exposure. In addition promoter / advertiser can offer additional rewards with their upvotes to unsers of their choosing.
Currently there are a lot of users, especially minnows are hungry for rewards, while promoters / advertisers hungry for exposure. This would feed both parties.
Most imporantly we will have platform ready for the time when massive amount of companies realise the potential user base of Steemit and start moving their advertisement cash to the platform.
@good-karma and #eSteem, I hope you will get a chance to take a look at this and see if it is something you would want to implement in eSteem App.
Fellow Steemians, if you this makes sense to you and you like the idea please pass the message to @good-karma and $eSteem.
I'm not sure how i feel about promotions that are specific to a single app. Esteem is just one application that people use , if you paid money to promote it there, that doesn't help you with people just viewing it on Steemit.com or busy.org or ChainBB , etc
What if that change was made on Steemit itself would that be beneficial for both promoters and readers?
I'd rather see the applications respecting the post promotion, money sent to @null. So eSteem should just make promoted posts prominent on the app, and busy and chainBB can do the same.
That would be a general solution
But post promotion is not fulfilling its purpose. If you look at @null transaction history there are a lot of people sending 1 SBD or in that range and they are not getting anything promotion or exposure. I tried to sent couple times 1 SBD and once 8 SBD, and that was just donated, it didn't give any exposure. It only works if you send hundreds of SBD.
I never use it myself, so I don't really know. But if sending to @null doesn't work, then I don't see why creating new accounts is going to work better.
I am not using @null anymore. A lot of people are not aware that they are just throwing away sending to @null. That's why I think it should be fixed or replaced. Most importantly platform needs working promote tools which will be important when companies start throwing their advertisement money into Steemit. As soon as user based reaches a million you know companies will notice and will take action. Shouldn't platform be ready for that? I was just offering solution what would help users in general and promoters
Agreed, @null should be fixed, or be replaced with something better. Your idea above could be the way to go, I'm not sure. I may have to think about it for a bit.
I hope bigger brains of the community of the community will come up with a solution. I am not very knowledgable in this, but thought it had to be addressed. Thank you pointing out the potential issues of this being singled out to one app. Appreciate it.
I use the promote tool all the time and not only do i see direct results of getting more upvotes 9if the post is good) but never had a probem sending to @null
Interesting idea and approach. There are few ways, we are constantly thinking as well. We will see/stir some discussions about that soon... Thank you!
mission acomplished. just wanted this reach you. thanks
@deserttree when you put up a post, you get rewarded for putting up the post. When people comment and interact with a post, upvote it, they are also rewarded.
As with any advertising system, less you put, more further away you are from top in promoted section. It doesn't matter what tag you use. More advertisers, more competition to be at top.
Also there are many avenues to advertising posts. Services such as @steemsea and @randowhale
Sending to null offers the benefit that steem dollars can only increase in value as there is a reduction in coins over time, though there is also an increase, but this helps make a more limited supply coin.
Create a great day,
@kozan
I understand the concept behind @null, you decrease supply, value of the rest goes up. In return promoters should get exposure. Here is the problem, for vast majority there is no exposure, and there is no incentive for users to engage with promoted posts except for the few at top.That's it.
If you create an incentive for users to go to promoted items promoters get tremendous amount of exposure as expected, sure less money would result in less exposure but still there is some kind of it. There would be a lot hunting for rewards.
Just the fact you mention @randowhale proves my point. @randowhale is not advertising service, it is upvote sales (nothing agains rando).
If you had rewards in promoted posts for users they wouldn't have to use services like that. After all isn't part of the purpose of this innovation for people to be able to rewarded for their attention, engagement, interaction?
I don't see many company getting involved yet. But it is coming, as soon as million user base hit, they will wake up, and that will accelerate the user base even more. All I am saying Steemit is not ready for that. Why not be ready for that? you know it is coming. Thanks
I read your post @deserttree and seen the problem you said about promoting so my company released something think you will like. Check out @steemsea
Should solve the problem. There are rewards in promoted posts in a way when you vote for them and comment you get paid or get a chance to get paid. It is one way and there is things like Steem Sea which is starting to help users. Though new hope it provides what you need and is much cheaper and plus you can earn.
Create a great day,
@kozan
I saw it before but I really didn't get it. Isbit the one creating new coin?
It is worth giving it a go.
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