A week of PROMOTION- How many use it? How profitable is it? What's the right amount?

in steemit •  2 years ago

It's been already a week since the new promotion feature was added, so I thought I'd look at some of the early data and share it with you guys.

Here are some interesting numbers to keep in mind when thinking of promoting your next post:

  • 1483 blogs were promoted using the @null account
  • 1202 blogs were promoted with the same account as the one used to publish the article
  • 711 unique users used the feature
  • 10902.09 SBD was burned in the process
  • The total payout of all promoted posts adds up to 77379.72 SBD
  • Of all promoted posts, 44% had a higher total payout than the amount spent promoting it
  • The top promoted post was this one made by @laonie and promoted by @laonie for 71 SBD and @ned for 200 SBD, for a total of 271 SBD.

At this point, the correlation between post payout and the amount used for promoting it is quite small, with an R^2 of 0.0211 (0.1451 correlation).

As expected, most people who promote their content only use small amounts. Here's the exact distribution:

The histogram below, shows that the majority of users who promote content lose from 50% to 100% of the SBD used to promote, but some end up making considerable profit on their investment (see N.B. below for clarification):

This last one shows the average absolute SBD gain or loss for different ranges of SBP spent promoting:

Clearly, not enough data exists for some of the extreme cases for them to be reliable. There's an interesting small jump in expected profit in spending between 2 and 5 SBD on promotion. Is this just noise, or is it an optimal promotion range for minnows?


N.B.

  • Profit here is based on the total SBD spent promoting, either if a different user paid for promotion.
  • No analysis was done of the timing at which those posts were promoted. As far as this goes, someone promoting a post with potential payout of 1000 SBD for 1 SBD would appear as a 100 000% profit, so take it with a grain of salt.
  • Only total payout was considered here, which includes curators.

Questions? Comments? Suggestions? Leave them below to let me know.


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I promoted $31 on first night, last monday, and my content is high quality, was at $200, and it got noticed by some more whales, and reached $500+

The second night I tried more quality content, paid $78, it was at $200 and hardly moved.

The third time was two days later, paid $40 or something, and no difference again.

TI;s still the whales who make it or break it. SO overall, I say... don't really bother... up to you. You will gain some additional upvotes and followers, maybe...

Good analysis. Thanks.

Take care. Peace. Upvoted.

I have 86 people in my feed. Only like 3 used the promote today and for less than $2. It seems the successful content providers see no value in it. Based on this fact, I prefer to stick with the NEW tab for looking for the hidden gems.

The promote feature gets pretty fun when applying a strategy. You don't need many steem dollars at all to do it! It's like a game.

Do you really need that ridiculous priced weapon to level your warrior? Nah!

·

Right, for a really low amount, you can rank well in "promoted" under most of your tags if they're not too general.

I think its useless if you promoted a post and never displayed at the 1st page. Only high paid promotions are seen in the 1st page which make sense that this feature only suits well on those who can afford, in short, those who are wealthy with SDB.

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