Content Reward Distribution, Onboarding, User Retention And Marketing

in LeoFinance2 months ago (edited)

Introduction

It's hard to get people to use Hive and also hard to get them to stay. Unbelievably, if and when they quit, they tend to go back to Web 2.0 platforms instead of just quitting social media altogether.

My personal experience

My logic has been clear from the start: however little I earn is more than what I'd earn on the likes of Facebook. I have never allowed it to bother me that my earnings were much less than what I saw long-timers earn for the longest time.

Back in early 2017 when a friend of mine convinced me to start using Steem, he supported me quite generously for a year or so until he went on a long break. My earnings went on a tailspin because of that and the cratering price of STEEM later in 2018. But I still continued. Why wouldn't I have? I just kept stacking up on them tokens. Why not? The user experience was not that much different from the platforms that I had got used to. If I'm was going to publish my photography posts, why not do it here? If this platform pans out perhaps thanks to a large number of second-layer communities like LeoFinance growing a lot, then my stack could appreciate considerably. If I had concluded that I should leave because I could never earn what certain insiders earned and gone back to mainstream platforms, I would never have earned anything worth a single cent.

Joining Hive is not like getting a job

If you come to Hive only or even mainly because someone told you it's a platform where you can earn from your social media activity, you will be disappointed and you are likely to leave. For you to stick around and keep doing what you do, you have to want to do it regardless of the monetary value of whatever tokens you earn or you need to have a long-term plan in place. Otherwise, you won't stomach the wild token price volatility or have the stamina to create a presence here. It's really no different on mainstream platforms. No one will ever succeed in turning their social media accounts into a source of income without putting in a lot of consistent effort for a long time. That's just the way it is. If you tell people it's enough to just turn up and do what you want and let the money roll in, then you're setting them up for disappointment. Being a content creator on Hive is not a job let alone a charity where anyone is guaranteed an income for any amount of effort. No one is guaranteed anything here.

Before someone says the very first generation of users many of whom became part of an inner circle benefiting the most from all the money coming in and befriending other early users - and the pre-miners in particular - gained an unearned advantage, I'd like to point out that anyone is free to create their own project or find a project that is still in its very early stage. If you think you have the right skill set to be useful for such a project or you can find one that only has a handful of people onboard and has potential, then go ahead. It's up to everyone to make the judgement for themselves. Few people are cut out to be pioneers and being one comes with a considerable risk of effort and money sunk for nothing to show for it.

That said, overplaying the early adopter advantage is harmful. You need to distribute the tokens on a tokenized community to a much wider circle to grow. But to say that Hive has no such distributive activity going on is simply not true. Curation projects like @curie, @ocdb, @qurator, @appreciator, @upmewhale, @rocky1 and many others do exactly that every day. These projects distribute HIVE to a considerably larger group of users than the narrow set of the earliest adopters that is still left, meaning the early miners and their friends.

LeoFinance has a strong external focus

LeoFinance is refreshingly different from Hive in the sense that the founder team and the current user base is focused on creating value for the wider internet user based interested in crypto rather than the politics of token distribution. This is clearly the correct path to take. The token distribution will take care of itself. What's relevant is the content and maximizing its reach. The token price and its distribution will take care of themselves once LeoFinance.io is populated with maximally relevant and engaging content and once the eyes of the crypto world have been successfully turned towards it.

Conclusion

Marketing Hive as a source of easy money is proven not to work. It was easy money only for a small minority of lucky individuals who were around in the summer of 2016. Hive should be marketed as an antidote to cancel culture (I almost misspelled that as cancer culture) widespread on mainstream platforms. It's a platform where an author can create a revenue source from blogging but it isn't any easier than on any other platform. When it comes to censorship resistance, it's much more level and even a playing field than almost any other platform in existence. Hive offers security and a firm footing for content creators who want to be sure the rug will never be pulled from under them.

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Hello @markkujantunen

I enjoyed your post. I think you make several interesting points, with which I concur.

Promising easy riches is dishonest, shifting blame for ones failure to initial investors greed is nonproductive and suggests ignorance of the risks of venture capitalism, and leaving because of low earnings to join a platform with no earnings is irrational.

I like the forcefulness, clarity and frankly brutal honesty of this post. I say so at some risk to being mistaken for a fawning fan, but in reality as a physician I take pride in my caring, but no nonsense and facts only bedside manner, so I respect your style.

Additionally, I was attracted to this platform by @shortsegments with a similar “...no easy riches, hard work and perseverance description of the path to success. But also a description of a community predominantly populated by in general by people who were knowledgeable, intelligent, polite, or otherwise non-confrontational. Who appreciate and respect hard work, quality, engagement and they support a leader with integrity and vision. I think those things were the most attractive qualities here. Other-wise I would just invest in Bitcoin and go hiking.

@joefinance

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That you for your positive feedback! I really appreciate it.

I did not mean for this post to come off as forceful but I guess it did. It's just that I've heard so many people complain about not getting paid right away. It just doesn't make any sense to demand to get paid for ordinary social media activities right out of the gate without having built a following. It is the job of a social media influencer to build influence. Without it, expecting to get paid is a sign that someone has been misled.

And yes, there are platforms out there where anyone can be an early adopter. In fact, anyone can found their own Hive Engine tribe and develop it into a successful and thriving community. It's a time-consuming endeavor and success is not guaranteed. Founding a successful tribe can be financially rewarding as it should be.

No one will ever succeed on turning their social media accounts into a source of income without putting in a lot of consistent effort for a long time.

This is true whether it is Web 2.0 or 3.0.

As they say, there are no free lunches and it takes effort to stand out as a content creator, no matter what the platform.

What I like about the present situation is we are seeing new "hives" springing up. While few other than LEO made much headway, the potential exists. There are dozens of communities that Hive whales are not involved in yet many can start to earn a decent reward in those pools. LEO, again, is showing this power.

@dalz latest post is showing where Hive's grow is presently coming from. It seems we are attracting more gamers than bloggers which is fine. Thus, we are seeing, at a minimum, a second reason for people being here. It is not just about content creation for many anymore.

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Account creation is one sink for HIVE, by the way. The price of creating an account was set at 3 HIVE last I checked.

Yeah I dont know what is going on with that...not much was mentioned of late with that.

We are seeing a great many changes and places where value can reside. I do believe that at some point a Hive account, in and of itself, will have value. There is a lot taking place which will help Hive to serve as a account sign up/management mechanism.

Of course, we need a couple things to gain in popularity for that day to arrive.

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Playing the devil's advocate:

I would have quitted hive if I wasn't interested in creating blog-like content. As the vast majority of internet users are not content creators and do not have the attention span to consume lengthy content. Most of the popular social platforms share content briefly. We dont have that advantage here.

Most people dont care about censorship or cancel culture. They want a big platform where their reach is endless. Honestly, I enjoy my interactions on Twitter more than I do here. However this is more profitable but most people dont care about profit, esp in internet magic money they dont understand.

Leofinance has narrowed its scope. They know their niche and it is easy to grow this way. Engagement is more fluid. If you care about cryptocurrency you will find this community useful. If other communities can replicate this we will have a bubbly community without having to worry about hive.

Posted Using LeoFinance Beta

I would have quitted hive if I wasn't interested in creating blog-like content. As the vast majority of internet users are not content creators and do not have the attention span to consume lengthy content. Most of the popular social platforms share content briefly. We dont have that advantage here.

There's nothing stopping the creation of an app like that that uses Hive as its back end and account system.

Most people dont care about censorship or cancel culture. They want a big platform where their reach is endless. Honestly, I enjoy my interactions on Twitter more than I do here. However this is more profitable but most people dont care about profit, esp in internet magic money they dont understand.

Mainstream platforms have become more brazen in their canceling authors. I just had a chat on Facebook with some mainstream normos I know from way back today. They are the kind of people you wouldn't expect to care about censorship resistance. Yet, one of them talked about Facebook arbitrarily censoring a post of his that contained a link to a political science research paper. Another guy chimed in and said he didn't expect the likes of Facebook to last long if they go on like this.

I was taken surprise by that statement! This is what I've been saying for years while being ridiculed or ignored at best. I gave a like but did not direct these guys to Hiveonboarding because I didn't want to lose my Facebook account (not just yet) and I have learned the hard way that you have to take baby steps with normos.

Web 2.0 social media platforms have an incredibly strong hold on the masses, most likely through extensive habit building through scientifically calibrated user experience over a decade and a half. It can be counterproductive to try and pry normos off of them because it often results in a fit of irrational behavior like an infant taken off the breast of his/her mother.

But what I think is key is how toxic the cancel culture is to content creators who make a living on centralized mainstream platforms. When a popular content creator is kicked out by YouTube, that person is likely to have their following migrate to another platform.

Leofinance has narrowed its scope. They know their niche and it is easy to grow this way. Engagement is more fluid. If you care about cryptocurrency you will find this community useful. If other communities can replicate this we will have a bubbly community without having to worry about hive.

Yes.

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