RE: The Future Role of Steem In the Disruption of the Social Media Advertisement Industry
Dear @gandhibaba
I always enjoy reading your posts - so optimistic :) To optimistic I think
This perhaps explains why advertisement gulps down billions of dollars each year.
Advertisers will not care about steem for few reasons. Lack of solid targetting is one of them - facebook is collecting our data and it's allowing their ads to reach very specific groups. That won't ever be the case with steem.
I love our blockchain, but if I would have to pay 100$ for 10k well targeted ads on facebook/youtube vs half of it for 10k ads on STEEM - then I will go with first option. Because results will be surely way better.
So in theory STEEM have everything to be able to distrub ads market. Except that one essencial ingridient: people's data. Steem is just not allowing to 'spying' on us well enough.
Would you have any suggestion how to improve targeting on steem?
Upvote on the way,
Yours, Piotr
Hello buddy, thanks for your fine thoughts on this topic. Here is my response:
Yea, it is true that the aggregation of data is one fundamental key to advertisement on the social media. Advertisers want to reach out to specific group of people, true. I will not pretend to say that Steem can match the specificness of Facebook but I know that Steem can easily target people based on their geographical location and the communities that they people to. Also, tags can be used to reach out to people who share a particular interest. Pizza can be advertised on the food tags just like tickets can be sold on the travel tags.
So, I agree that Steem cannot be as precise as Facebook but we can offer what Facebook can't offer, that is, rewarding the consumers. Cheers!