RE: Proposal: Paid Advertising on Steem (with a Twist) by remotediscovery

Viewing a response to: @timcliff/re-remotediscovery-re-nextgen622-re-timcliff-proposal-paid-advertising-on-steem-with-a-twist-20180906t032633628z

advertising · @remotediscovery · Sep 6 '18 (edited)

UPDATE. There is a major flaw in your memo proposal. Steemit only has 1 million users, and only a few hundred draw in the kind of views advertisers would be interested in.

I don't see large corporations, taking the time to send memo's to multiple users. Sending multiple memos would take too many man hours. They would have to pay their employees more to send memos, then they would get back from advertising.

This is why I say ONLY have widescale advertising across the entire platform. Advertiser don't have the time to Cherrypick certain users over another. We're not Facebook with over 2 billion users. Have the advertisers pay directly into the rewards pool. This way we can attract corporate investment, instead of a few niche advertisers, only interested in a few users.

The memo payment might be targeted, but it would significantly reduce the number of potential advertisers. I feel like what your suggesting would be very exclusive and very limiting. It wouldn't do much to boost the price of Steem.

Like it or not, the rewards pool, is the bedrock of the STEEM platform. I know it has abuse, but this is what we all signed up for, so lets increase the rewards, instead of getting caught up about who abuses it.

Maybe we can have separate debate on rewards abuse, but lets use advertising to boost the price of Steem, and increase the rewards pool.

👍 timcliff, remotediscovery

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@timcliff · Sep 6 '18

> I don't see large corporations, taking the time to send memo's to multiple users. 

It is not expected that large corporations will just flock in right away. Most of the ad revenue initially will be from people who are already members of the platform.

> Sending multiple memos would take too many man hours. They would have to pay their employees more to send memos, then they would get back from advertising.

The expectation is that someone would build a website to make this easy, and then all they would have to do is sign the transaction using SteemConnect.

> Maybe we can have separate debate on rewards abuse, but lets use advertising to boost the price of Steem, and increase the rewards pool.

I'm against this idea. I've already explained why multiple times. We will just keep going around in circles.

👍 remotediscovery

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@remotediscovery · Sep 6 '18 (edited)

I don't mean to give you a hard time. I respect what you're doing. Going around in circles is how complicated decision making happens.

I would support 100% going to the author, but I want new members to feel motivated at the beginning. I want new members to get a slice of the ad revenue. Even if it's just 0.001 Steem for their early posts.

Maybe we can install a view counter, that pay's people in proportion to their views.

Steemconnect might make it easier, but I don't want 90% of the playform ignored, because advertisers don't want to spend time on them.

I feel like what you're proposing, doesn't kickstart early content. I think it will create a two tiers system, where the elite get direct income off ads, and the only thing minnows have, are upvotes, which are barely going to them.

For bad content, maybe create a system where, minnows only get paid, if 10% of the viewers hit an approval button.

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@timcliff · Sep 6 '18

> I would support 100% going to the author, but I want new members to feel motivated at the beginning. I want new members to get a slice of the ad revenue. Even if it's just 0.001 Steem for their early posts.

This assumes that adding money back into the rewards pool will actually go to new authors.

> Maybe we can install a view counter, that pay's people in proportion to their views.

This doesn't work, given that users are viewing content across a huge variety of platforms (SteemPeak.com, Busy.org, steemit.com, partiko, eSteem, etc.).

No matter what system is implemented, the reality is going to be that minnows have to work their way in. Nobody can come to the platform and expect to start earning a ton of money right off the bat. If users want to earn, they need to actually add value to the platform, which includes producing good content, and building a network of followers.

👍 remotediscovery

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