What if Proctor & Gamble came to Steemit? Build your nest egg before they do!

in steemit •  5 months ago

In the early 1800's William Procter (a candle maker) and James Gamble (a soap maker) married sisters. Their father-in-law recognized they were competing for the same raw material and suggested they combine forces. In 1837, they formed a new company called Procter & Gamble. Today that company is the largest consumer goods company in the world.

Proctor & Gamble's first logo
P&G_logo.jpg
Image Source

What if P&G comes to Steemit?

How much could they invest?

This article says:
Proctor & Gamble's worldwide advertising budget was $7.1 billion in 2017.

[They] ... cut digital advertising spend by $200 million last year based on viewership data provided by tech and media companies that showed its ads were not reaching its target audience effectively.

Coulda, Shoulda, Woulda

Could they reach their target market more easily here on Steemit? Maybe...
Should they be on Steemit? Probably...
Will they be on Steemit? Absolutely. IMHO it's not a question of if, but when...

Just the other day @glenalbrethsen and I were discussing the future of Steemit and the blockchain.

  • I mentioned the 'big boys' coming to the platform.
    • That seed of an idea has grown into this post...

I discovered the Internet in '95 and became a webmaster.
Actually made a living from it for about 5 years.

  • Speaking from experience, what I'm seeing here on Steemit, is the exact same thing I saw happen in the early days of the Internet. A bunch of people creating content to the best of their ability and trying to get noticed. A lot created content simply because they could. A lot created content because there was a possibility of making some money from it. It was tough to get eyeballs, so there were several alliances built to help promote each other. If I could help you be a bit more successful, you could help me be a bit more successful. If someone became successful enough, they could charge people to advertise on their web site. Sometimes it drove a lot of traffic to your site, so was a good investment. Other times you received little traffic and it was a bad investment. It could be pretty frustrating at times, because you would be pouring your soul into your content and maybe get a few views and someone else put up a stupid dancing gopher and it went viral. Sometimes it just wasn't fair. That made some people quit trying and for others it made them try that much harder. Most that had the perseverance to keep on keeping on could eventually create a following. Heck, I was getting over a million unique visitors to my content a year! And I'm just me, a guy who didn't quit... Some people hand edited lists of things and they would become pretty popular. Then someone would notice how popular the list was, so they automated the lists and became the most up to date lists and thus the goto list. Some people figured out how to spam the automated lists, making them pretty much worthless, so then the hand edited list would become popular again. Is it sounding a bit like Steemit to you? It should, because it is exactly history repeating itself.
    • I remember getting really mad and very loudly voicing my opinion to the computer screen when I first ran across someone actually trying to charge me for information they had put onto the Internet. Don't you know the Internet makes information free!?!?!?! Don't you know someone else will put that information up for free?!?!? By golly, I told them a thing or two. Did they listen to me? nope... 😒
      • Then the "big boys" started throwing huge sums of money at the Internet. Some amazing companies were built. Amazing venture capitalists were that stupid! They tried business plans that, of course in hind sight, obviously could not work. Who remembers million dollar sock puppet Superbowl ads for a dog food company that hadn't realized they could not compete because of shipping costs? But even though a large percentage of those companies went bankrupt, does not mean they did not continue to influence the Internet. Some people made huge profits off the building of those companies. They later had the convenience to not just throw mud on the wall to see what stuck, they could actually thoroughly study out an Internet idea and throw money at it if it actually had a chance to succeed.
  • When the big boys showed up on the Internet, it radically changed the landscape for those of us who just wanted to create some content and maybe make some money from it.
    • That is what will happen here when "they" show up. Within just a few months of a big boy company dipping their big toe in Steemit to test the water, the landscape here will be radically and forever changed. You will not recognize it once a few of the big boys start competing for our eyeballs.
      • When it happens, I only have one bit of advice.
        Buckle up cupcake and enjoy the ride!
      • Oh what the heck, I'll give you a second piece of advice...
        Screaming at your computer screen will NOT change things.

Looking at some figures...

According to https://coinmarketcap.com/currencies/steem-dollars/

  • Steem Dollars (SBD) Market Cap is $36,636,757 USD

According to https://coinmarketcap.com/currencies/steem/

  • Steem Market Cap is $789,768,184 USD

If P&G decided to invest that $200 million from above, they would own a significant stake in the platform.

  • They could easily invest enough to have 50% stake in the platform.
    • What do you think would happen to the price of Steem and SBD, if someone set out to purchase $200 million worth?
      How high do you think it would go?
      How fast do you think that would happen?
      • Now is the time to build your nest egg,
        because when it hatches
        you just might end up rich!

What might P&G do on Steemit?

  • If they used just a small portion of their advertising budget, they could create a marketing dream come true here on Steemit. They could create a community of users of their products (anyone who washes things or uses toilet paper... Here's a list of their brands). Then pass on coupons, run promotions, reward testimonials, ... They will have a whole team of marketing experts studying how best to do this. Contests would be a good way for them to create buzz about a new product. They could create good will by hiring a team of curators to give significant upvotes to quality content, for no actual out of pocket expense besides paying wages to curators. (Would you be interested in being a full-time, work from home, curator?) By simply having a big enough investment in Steem, they could influence thousands of people.
    • You do realize huge corporations like this hire the brightest and the best marketing gurus, right? As smart as these folks are, it doesn't matter how good of a TV ad they create, over half the time they are marketing to people who will never use their product. I'm thinking of their Tampax brand, but that statement is probably true about most brands. I think they could increase their Return on Investment by using the Steemit platform. They could get their marketing campaigns in front of those who would act on them. I would wager a bet that someone has mentioned blockchain and perhaps even Steemit during at least one of their corporate marketing meetings. We are probably already being looked at.
      • It's just a matter of time before they dip their big toe to see how the Steemit water is.

They would probably put their IT guys to work setting up a method for them to mine data from the blockchain. Someone mentions a new baby, voila, a P&G upvote to get your attention and comment with a link to printable coupons for Pampers. Personalized, of course, with your special code, so the marketers can see when and if you use the coupons.

  • You do realize that ANY data on the blockchain is fair game to be mined, right?
    • Since a lot of Steemit is open source, they would likely hire a team of programmers to fix a few things and add a few things. That would be great, too.

As @tarazkp points out in this post any large to very large investors will surely be interested in the management of Steemit. Unless they were able to swing a deal to actually buy in to the company, the next best thing would be to gain control of the whales.

  • They could easily purchase enough stake to replace the witnesses with their own corporate hacks.
    • Then they would be able to "steer" Steemit as they see fit.
      • If they saw too many red flags with the platform, they would bide their time and wait for a competitor with fewer red flags to get going.
  • Since they would be a smart investor, they would realize the worth of this blockchain is not in the oligarchs who run it, but in the minnows... the normal everyday folk. Without them, the oligarchs' investments become worthless, as well as their corporate investment. They would want to ensure the oligarchs realize that and focus on the minnows instead of themselves. They would replace any who were too stubborn to realize that simple fact.
    • They would probably not invest until they could be sure the signup process was fixed. Their goal would be to bring millions to the platform. Now... not weeks or months from now...
      • They would likely want to know if they could control the trouble makers. You know the ones... the self-appointed sheriffs that run around downvoting and flagging those poor souls who violate their self-created rules. Of course, with a big enough stake, P&G could pretty much control anyone for anything.

Conclusion

Thanks for taking the time to read this post.
I hope you found it thought provoking.

IMHO, we are in the right place at the right time.

  • We are reliving the early days of the Internet with one major difference.
    • When the big boys show up to play here, we will all win!
      • Now is the time to build your nest egg,
        because when it hatches
        you just might end up rich!

There's a new rule I just created... 😏

  • You must comment your thoughts.
    • Had you thought of this (a major player joining Steemit) before?
      • Am I way off base? (I'm fairly new here so do not fully understand Steemit...)
        I have inch thick rhinoceros skin, so don't worry about hurting my feelings. You won't!
        If I'm wrong, please please correct me.
    • How else will a company like P&G use Steemit to their advantage?
      Will that be good or bad for us?
  • Are you excited about being an early adopter of the next big thing?
    • Do you know of any large corporations looking at us?
      • ...???... Comment your reactions to this post...
        It's a new rule I just made up. haha

PS Don't for a minute think I am giving you any type of investment advice.
I'm just encouraging you to keep on keepin' on...

wizsmall.png
Who I am

@WizarDave
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

(you hear an engine rev and horn honk)
MEEP! MEEP!
(the window on the humvee rolls down to reveal a warm smiling face)
"Hello! I'm @shadow3scalpel and with the help of my protege, @chairborne, we are actively assisting veterans, retirees and active servicemen and women here on Steemit. We feel it is our 'duty' to support each other. Any questions or comments you may have, simply respond to this comment, thank you!"
(the window rolls up and the engine roars as it drives to the next person on the list)
Comment by @killerwhale. This is a opt-in bot.

Procter & Gamble, eh? Interesting choice. As I've said, I don't mind the idea of a product or service outside of major media companies. However, I'm not sure if I want anyone leaving links to their stuff around. It would be frowned upon now. Of course, if P&G buy up the place, then they call the shots.

Not sure how I would feel about that. I think we have issues with the way things are run, and aren't run, as it is. Major global conglomerates don't exactly scream decentralization or freedom.

So, I guess we're in a future world of trade offs, much like we are already.

Can we just have their money and keep things more or less as they are, kind of busy, kind of quiet, kind of cozy, kind of frustrating, but maybe with a souped up 21st century UI and $50 STEEM? :) Or were you thinking $500?

·

What was the name of that computer store you like? What if they gave you a coupon link in a comment? I guess if might be better if they did a post showcasing some new fangled widget and then had a link to their off-Steemit site to get you your personalized coupon... Of course companies like this might opt for something like APPICS, since it will have a built in storefront.

  • I don't think "mainstream" media would do well here. They have nothing to sell but lies! 😆
  • I don't think PETA would do very well, but it might surprise me.

You being an author, what about Barnes & Noble? I just read that Amazon is looking at blockchain technology. B&N needs something like Steemit to compete. ???

·
·

I spent 15 years on the advertising selling side and at least three years on the ad buying side, so I'm kind of burnt out on advertising as a whole. Plus, I think it's not so much about target marketing as we've seen it, but more of engaging with the customer, in a very similar fashion as you and I and every else who wants to does it here on Steemit. It's fostering relationships, however that happens with a business.

I don't know how many other people do it, but I don't click online ads,and I don't follow many links. I have to be pretty interested in whatever is being sold, and if I am, I will probably look it up first. So, if that's not how everyone else does it, then I'll admit to being totally different when it comes to these things.

Fry's is the name of the electronics store. Does a whole lot more than just computers.

Barnes & Noble is barely holding on, I think. I'd be surprised if they're still around in the next five years. If they are, it will be because they revamped their business model or something. With downloadable books and paper books you can order online, that's not confined to a physical inventory of one store that in my case you have to travel 20 miles to get to, it's just easiest to order online through Amazon, along with everything else you might want.

I can't see the big end of town angling for 51%, simply because they'd assume (correctly) that the minnows would bail for a non-corporate competitor (or some bright spark would fork the chain from a week earlier, and invite everyone to post there instead)
I think other coins will start buying up a presence here, to shill their alts.
Then software companies, internet companies and finally physical product companies like P & G.
By then, $200 million will buy them 100,000 SP

·

Thanks @mattclarke
You're correct. They would not want to do anything to run off the masses, when it's eyeballs that they are interested in. It's all a numbers game with those marketers. I would like to sit in on that corporate meeting to hear all the ideas!

  • Interesting that you thought of the companies that will beat the big companies here. You are correct. It was a fact that the huge corporations were very slow to act during the early days of the Internet. And they stumbled around for the most part. Throwing together a crappy web site, just so they could have a web presence. Perhaps they will be just as slow to jump on this band wagon...
    • I'm already seeing alt coins shill here. Steemit is my first crypto besides trying to game a few here and there. Steemit hopefully will be my last crypto... There is a lot of chatter here about other coins, but I'm not sure how they think they can draw any interest except from speculators.
      • So you foresee $2000 STEEM? 😎 Cool! Using the vote calculator from Steemnow, 100k SP upvote is worth 18.31 @ 2.97. @2000 that would be $12,329 * 10 votes/day = about 125K of free goodwill "advertising" (curating) per day or $45M for a year. But I could be way off, since I don't totally understand payouts and such yet. haha If I'm close, then payback on their investment would be 4.44 years. This also doesn't take into account paying for human curators or development of a bot.
·
·

You can check at steemworld.org/@wizardave
There's an option to punch in different SP amounts and vote strengths to see what they'd be worth.

When P & G show up, it will be time to start Beamit, Themeit, Creamit, Deemit... whatever. Once a company which is held together with (((counterfeit currency))), it's nothing but a bitch which bites for her massah. Face it, already.

·

True that! They would have to tread lightly. Hopefully, they would be smart enough to study it all out and make their splash in a way that doesn't knock all the minnows out of the pool.

·
·

no. Haven't you noticed how skilled (((they))) are in administering the "frog in the pot" methodology?

Loading...

We apologize for the delay, we’ve been managing and speaking about Steem at the Steem Creators Conference in Las Vegas, NV all weekend. Expect to be within the the 24-48 hour upvote window in the next 48 hours.

As a friendly reminder, the upvote fee is $0.08 SBD ($0.081 for incognito). Current 300%+ upvote is now $0.24+ SBD.

That being said…

BOOOOOOOOOM!!!

The ground shakes as incredible power lights the sky. The thunder tests the quality of your post and deems it worthy, rewarding it with a 300% upvote, comment and resteem from @thundercurator.

Increase your chances of a 100% upvote and support the project by:

Investors who delegate SP to @thundercurator are entitled to 75% of @thundercurator income after curation. Get on-board early and grow with us!