Steem Stats Part 2: $ Per Comments and Upvote (June 2017 data)

in #steemit5 years ago (edited)

This is part 2 of a series looking at how to make more author rewards per post. All of the analysis for this post was based on Steem data from the month of June, 2017. I obtained the data using SteemSQL, if you want to read more about SteemSQL, please see posts from @arcange

You can read Part 1 by clicking here.

Please note that all the chart assumptions and limitations from Part 1 are still applicable in Part 2.

Followers Are King

If you have ever taken an accounting class, you learn pretty quickly that cash is king. On Steemit, followers are king. The more followers you have, the more you will make per post.

In Part 1 of the series, we learned that followers bring in about 12 cents per post on average, and it tapers down to about 7 cents per follower after you get over 50 followers.

To learn more, let's zoom into the authors we care about. To do that, I'm going to ignore authors with less than 50 followers and above 2k followers...they may be a distraction in the charts. Very few authors have over 2k followers (less than 1%). Authors with less than 50 followers are essentially new or inactive. Even if an author doesn't spend much time on Steemit, it probably doesn't take over a week or two to get over 50 followers if the author is actively writing posts and commenting on other posts. I think I got over 50 on my third day.

Let's dive in and look at how comments and upvotes relate to all of this.

This chart shows how many comments and upvotes each author gets per average post based on their follower count. After 200 followers, the number of comments seem to flatten out. Let's see how this data relates to author payout.

This chart shows the number of the average rewards per post that authors make and how it relates to comments, upvotes, and number of posts. Each group is authors, not posts. For example, the first group that says "Less than $1", is all the authors that average less than $1 per post.

As expected, the number of upvotes per post increases as authors average more $ per post.

What is interesting is that the number of posts per month (only looking at month of June) goes down as rewards per post go up. On average authors that post once every 2 days are making the most amount of money per post (ignoring authors with less than 50 followers and more than 2k followers).

This chart shows the number of author rewards per post per follower and compares it to the number of posts per month (only looking at month of June), number of comments per post and number of upvotes per post. It's the same chart as before, except we are focusing on author rewards per post PER FOLLOWER.

Lots of interesting things in this chart. There is much more of a correlation between comments and rewards per follower. There is also a strong correlation between comments and upvotes.

Conclusion

  • As you grow your followers, the number of comments per post stays flat
  • Each comment seems to result in about 3 upvotes.
  • Authors that make the most per post per follower don't post as often.
  • As you increase the number of comments, you make more per post per follower
  • Followers are king Quality followers are king.
    • "Follow for Follow" won't make you more money. All it will do is get you more followers who don't care about your posts and won't generate you any money.
    • Engaged authors are what determines how much you make. Posts that get a conversation going...even if it's an all out argument, will probably make more money according to this data. If you don't agree, let's argue about it in the comments below...I'll probably make more from this post if we argue.

This data still doesn't account for comments that do nothing, such as "Great Post" or "Well Done". That's something the data can provide, so I want to look into that.

Sorry for the limited charts in this post! There are a million charts I can post, but they don't provide any insight. And I don't want to just post data, I want to analyze it and get something out of it. These were the charts that I thought added value.

Do you read anything from the data that I may have missed?

Is there anything else you think I should dig into?

If you missed Part 1, you can read Part 1 by clicking here.

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Good stuff! So from what you're saying a pretty decent follower base is proportional to how much you make. I think good content also helps and all those

Absolutely. Good content probably helps you get the followers.

Thank you for your input, this significantly helps me on my Steemit journey!

another good post, thank you for going deeper into the stats :)

Got I love this kind of data analytics. :-)

Thanks for putting in the leg work, excited to review these stats in more detail (when I'm not at the office) and discuss!

Any chance of getting the raw SQL data to look at?

I used steemsql to dump it into excel. Check out posts by @arcange on steemsql, you can get all the raw data you want with it.

I see what you did there!

Great post. It's as we thought (well most of us anyway). You need high follower numbers but they need to be engaged followers who actually want to read your stuff. No point in getting a bunch of followers who never read, comment or upvote your posts!!

Exactly....not a new concept by any means. Now w data to prove it.

Noooooo....I won't make any dollars from this comment!

Hahahahahaha

Nothing too surprising here, though the amount of reward and the number of posts correlation is intriguing.

Eases my thoughts about posting more than once or twice a day. Write a few quality articles each week, and comment away with others.

Same here...I still want to try to stick to 1 a day...but won't feel as bad if I miss a day. Although The number of posts may help follower count...just my perception at this point.

Your posts are always high quality - I think you'll keep attracting followers from the discussions alone.... just my perception of course.

This is a great analysis @financialctitic.
Right now I am considering how to to get more followers. My opinion is content is the king. Only valuable content can bring you more quality followers.

Would you consider researching and writing about influence of reputation on rewards.

See part 1 of my analysis, where I did look at author reputation. Didn't seem to produce more $ per follower per post. Higher reputation authors did tend to have more followers though.

I imagined that but your post makes it more clear

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