Interface subscription and monetized metrics

in steem •  8 months ago 

Yesterday I wrote a post about the opportunity and engagement value of having personal statistics and I thought about it a little more and decided to expand the idea a little further into a competitive pay model for interfaces.

Background

One of the issues interfaces have faced is how to monetize their platforms. There are several ways they have tried and various attempts to attract users by giving them a different, more relevant view of the blockchain. For example, I am writing this through Steeve.app which is developed by @void and @hr1 and utilizes Artificial Intelligence to give users a better view of the platform as well as various features that improve the steem experience. Other interfaces like @steempeak and @partiko try different approaches too.

There is just one problem, it is all about looking at other people's content but as most people know, the most interesting topic to a person is themselves.

The mirror

Yesterday, I used charts made by @abh12345 for my post on my personal account voting behavior in 2018. Asher uses scripts to query the blockchain, get a return of numbers and then plot them onto diagrams. These looks in the mirror are very popular and many people take part in getting their charts made accross a number of areas. Essentially, the possibilities for various charts and statistics are endless and all the information is freely available, just not easily accessible for most people. Feed them their reflection and they will become enamored.

stats.PNG

The possibility

Let's say that an application like Steeve.app decided to integrate personal user statistics into their interface by using the scripts that @abh12345, @crokkon, @miniature-tiger and similar create so that users have a reason to use a different interface as it value adds to their experience.

What could happen is that the script creators give their scripts that can create a pool of script resources for the interface to utilize if they choose. Potentially, this pool could then be offered as options to users. Perhaps a user could choose 3 basic metrics per month or something like that which will appear to the side of their feed or profile.

Monetization of the mirror

However, it need not end there. For example, a user could choose to have more metrics or more complicated metrics included in their view for a subscription fee that is paid weekly to monthly or like @dustsweeper, topped up and slowly burned day by day and depending on what options are chosen. Then, depending on what options are chosen, the script creators could take a micro payment cut paid out on a schedule for residual benefits, the better, more useful and more chosen their scripts, the more they are going to get paid from it. Potentially several interfaces could utilize the same scripts and there could be some blockchain contracts involved.

Now, this subscription doesn't need to be a great deal to be worthwhile.

Let's say at current prices it was going to cost 1 Steem per week for a basic view, 2 for a intermediate and 3 for a full experience. If there are a thousand users using the interface that take only the basic option, that is 1000 Steem a week that is paid, but doesn't come directly from the pool, it is a true Steem service payment. That amount could then be distributed with some percentage going to the platform and some to the script providers.

At the current prices, I would be happy to pay a few Steem a week to get access to the statistics and of course as prices increase, the cost can be scaled back to suit. However, as prices increase the current Steem gained on the way has a much higher value in the future. That potential 1000 Steem might more than cover current development costs in the future and the popular script writers can earn residuals for a very long time.

Other views

Of course, this model doesn't have to be limited to personal usage metrics, it could include plug in information from various dApps. For example one might be able to have @steemmonsters battle statistics or future competition scores pulled into the interface view or perhaps various notifications from other applications.

What this would do is rather than trying to provide a compelling view of the Steem blockchain, it leverages various other aspects of humanity and gives people more of what they want, themselves. And in so doing it value adds with some customization options that allow people to create a view of Steem that is best suited to them through some checkboxes without having to be a coder. It allows them to build a home.

Tracking, usage and income

Because blockchains are just ledgers and Steem is able to shift transactions for free, there is the ability to create all kinds of micropay models that with volume, will provide a great deal of Steem changing hands. The benefit of this particular model is that it doesn't require access to the pool for the application or script providers to earn, it requires users to have Steem. There are some 15,000 accounts with over 500 Steem on the platform and I am almost positive that many of them won't mind paying a small subscription in order to get access to enhanced features. Due to the platform, the quality and range of content, showcasing the content isn't enough at this time, there has to be more.

Compelling and engaging

The better people's view of themselves, the more they are likely to interact with the blockchain and get increasingly emotionally attached and invested. There is a massive potential in gamification of Steem and the more it happens, the more compelling the ecosystem becomes which means, the more chance of onboarding and improved retention figures.

These same scripts could then also be used for various marketing initiatives as well as points to gather and compare a whole range of user behaviors that can then be leveraged to further improve the experiences.

The subscription model is something that is going to absolutely shift the way people use the internet and get information and Steem is perfectly positioned to take advantage of it as it is a content delivery blockchain with free transactions. Working out good ways to leverage the strengths of the blockchain and create utility and practical use case is something that I don't think has been done well so far but, that can change very fast.

Once the infrastructure is heading toward a service providing model that improves user experience, there is a much better chance of attracting both higher quality contributors as well as more engaged consumers. This in turn snowballs for increased development and of course, investment potentials. What I would like to see is the script writers work hand in hand with the interfaces to both do what they are best at doing and create an experience that is enjoyable and provides the personal feedback loop that is so addictive.

While the interfaces can be free to access the content, there are many people willing to subscribe to have a view of the blockchain itself and most importantly, their own positions upon it.

Taraz
[ a Steem original ]


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@crimsonclad

I heard the last part of your show the other night before I fell asleep, and vaguely remember you mentioned Steemit Inc wanting feedback on the UI tweaks for Steemit.com, and (or maybe this was just a dream) what people would like to see, including some of what Hivemind could bring to the table.

Here ya go :)

Edit:

And one change I'm not that big on is the ordering of the followers/following lists that are now seemingly by date followed/following. These lists, in my opinion, were better sorted alphabetically. Better still, options to sort A-Z, Z-A, Date, Last_Post, and some filtering would be great, thanks!

I agree with Sorting Options for the Followers/Following List👍

Thanks, @abh12345 and @tarazkp!!!

I'd love to be able to sort follower/following by most engagement to see whose posts I'm most active on for the people I'm following (lower activity gets unfollowed as I'm probably not that interested in their posts anymore) and who is most active on my posts for the people that follow me to give me an incentive to go support those who are supporting me with comments, upvotes, views, resteems, etc.

Thanks for the suggestion! We have already done some work on personal statistics so we will be hopefully able to bring it to the user profile. I just quickly skimmed through your post and will get back to it tomorrow.

Posted using Steeve, an AI-powered Steem interface

Good to know and thanks, looking forward to it.

Hope you are well.

This would be my weakness as a numbers person but would love it for sure! My only concern for me is if it will cause my own sense of “analysis paralysis” and for everyone how this would be used to criticize and attack behaviors across the ecosystem. Tagging @steemchiller as his Steem World site has some of this already and could be a great way for him to fund his development which has become tougher!

Posted using Partiko iOS

Analysis paralysis is a common issue! 🙂

Depends what numbers people use to measure themselves by I think.

I am sure we will see features like this eventually. It doesn't take too much thinking to come up with earning ideas.

Good idea, but the majority of users on the platform are unlikely to be earning 1 Steem per week that they can simply pay away to a service (for an otherwise free platform).

Now, I don't think the idea is without merit, but by the time someone has become so familiar with how Steemit works, you'd think that they could do a few quick Google searches and figure out how to extract and develop those metrics for themselves, at a much lower cost than a perpetual 1 Steem per week?

From a monetary and business standpoint, you wouldn't want to spend much more than 10% of your profits on marketing / analysis like this. So at 1 Steem per week, that's 52 Steem per year. At 10% of your earnings, you'd want to be earning at least 520 Steem per year. That also likely means that 50% of that is going back into your account, so you can continue to have influence and earn from your hard work. So you're left with 520 - 260 - 52 = 208 Steem per year. That's not a very productive or profitable business, even at $10 Steem... And again, the majority of users earn much less than 520 Steem per year, so the business model would need to be something different 🙂

the amount is irrelevant at this point.

you'd think that they could do a few quick Google searches and figure out how to extract and develop those metrics for themselves, at a much lower cost than a perpetual 1 Steem per week?

You can also make pizzas cheaper yet, people still order them. There is something to be said about propensity for ease of use and convenience.

When it comes to the price, how much do people spend on Netflix, spotify, newspapers and coffee? There are 15,000 accounts with more than 500 there are something like 2500 with more than 5000. so, if 500 of them decided that at this point, 1 steem was okay it would be ~25,000 Steem a year for the application. Let's say they take 50% and distribute 50 to the contributors it is still a lot more than the near zero they are getting now. that 12,500 Steem at 10 dollars is 125,000 dollars, not a bad year of work.

Something along the lines of google analytics would be nice as well as seeing the views once again of my posts.

I don't know if I would pay for the features you mentioned above because I track most manually for my own records and only takes me a few minutes a week.

However, the next bull market I'd pay for this information because I haven't talked to anyone in the crypto area of the US who can accurately tell me how to pay/track taxes on Steemit I earn through blogging. This 2017 I was just starting out so it was an insignificant amount and with the 2018 bear market the value has just dropped from there.

I can see with the next bull market having to pay a significant amount of Steem in taxes here in the US depending on how it is taxed. Having some of the above information on a daily basis would make my life that much easier and would be worth the 3 steem a week/month.

Update -> I would be more keen on possibly paying a 1 time fee with all the scripts so I could set-up an interface in excel myself. Probably an exception to the rule, but I'm pretty good at pivot tables and organizing data in excel in how I want to see it, but less so writing scripts to get said data.

Something along the lines of google analytics would be nice as well as seeing the views once again of my posts.

Something like this would be nice.

I don't know if I would pay for the features you mentioned above because I track most manually for my own records and only takes me a few minutes a week.

Depends on the person. I can't track most of the numbers I want as I am technically unable and the time it would take me to learn I can't spare. It is the same thing as paying an accountant to do the taxes, it is not worth the trouble to do yourself =)

Update -> I would be more keen on possibly paying a 1 time fee with all the scripts so I could set-up an interface in excel myself.

You should ask some one, they might be willing.

https://steempeak.com/me/dashboard

Steempeak does have some cool analytics as well if you didn't already know.

  ·  8 months ago (edited)

Yes I know but I am looking for more and a more varied set than just the steem/money side of it.

edit: also I would like to be able to see a lot further.

You can see all the way back. You just have to keep hitting the refresh symbol i think in the top right. Takes forever to go all the way back but it is possible.

Id like to see more as well just werent sure if you knew about the steempeak dashboard.

Posted using Partiko Android

Takes forever to go all the way back but it is possible.

that is 700 very slow loading clicks :D

Terrific idea... then again I do love self-tracking!

Not sure how much I'd pay for it though?!?

Posted using Partiko Android

Not sure how much I'd pay for it though?!?

Dunno, depends on many factors and it would enter into competition over time. My point really is that interfaces need to do a lot more to attract users than just unique looks at the content.

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There is just one problem, it is all about looking at other people's content but as most people know, the most interesting topic to a person is themselves.

Only to a narcissist. ...lol...

There's nothing wrong with a little narcissism (overt or covert types ) - unless it's becomes extreme.
Malignant narcissism can lead to sociopathic behavior - of which there is nothing inherently wrong with, either - but it can be very problematic (destructive) if not recognized within oneself.

People turn to their own name more readily than that of another. People fight and argue for the things important to them, even when they are wrong. Do you recognise it in yourself ? :)

  ·  8 months ago (edited)

People turn to their own name more readily than that of another.

That has nothing to do with interest in themselves. That's a response to an external stimuli.

People fight and argue for the things important to them, even when they are wrong.

Only fools fight for the things not important to themselves. That has nothing to do with 'themselves' being the most interesting topic.
One of the biggest issues for the narcissist, is admitting they are wrong. The more extreme the narcissism, the more impossible it becomes.

Do you recognise it in yourself ? :)

'cos of my fucked up family, I understand myself a lot better than most people do, from my observations.....
(my 'self knowledge education' was for self preservation -quite literally - and not by choice)

Looks slick! Nice UIX.

Posted using Partiko Android

I would pay for such metrics. It's very tempting to see one's progress on the blockchain.

This post has been included in the latest edition of SoS Daily News - a digest of all you need to know about the State of Steem.