I've been thinking about how HIVE can improve the distribution of the currency and not rely only on curation and tipping which by all means are great mechanisms,. Still, they have their limitations, you can only see that by the number of complaints and misunderstandings over the last four years.
The problem with tipping and curation is that it relies on a sense of altruism and negating natural nepotism to get users the rewards. I still think that it should be the primary distribution tools, but it should be supplemented with other means.
Peakd has its own promotional tool which allows you to burn your tokens to get more visibility and peakd take a fee for the service. I do like this tool, and I think its essential for the ecosystem to provide a use case and remove inflation from the economy.
I propose to build on this tool to introduce a second layer that will improve distribution of the currency and monetise views on the site.
A promotional post on a tag
The current peakd promo allows you to burn HIVE to buy premium space on specific tag feeds that you specify, but feeds are by far the minority of the pages being visited on the site, and we're leaving a lot of possible views on the table that could be monetised to provide value for the ecosystem.
A promotional post on a blog article
To supplement the peakd ads platform, I would propose that users are able to advertise on other users posts (who have opted into the service). It will work the same as the current system as a user picks out the tags they want to advertise on and then tick they want to advertise on posts that use these tags too.
A premium space will be made available at the bottom of the post before the comments to attract attention to the promoted post.
This will be a premium spot and cost a higher price to get this type of attention on a post compared my second phase, which I will explain below.
You'll see a why am I seeing this text that will take a user to an explanation this will be used to drive awareness of the service and get more users into the ecosystem.
We all know getting the word out on projects and recruiting is tough on HIVE, and I think that this could really help projects and brands advertise as well as authors and benefit the ecosystem as a whole.
Leo's recommended posts
If you take a look at LEO posts, they offer a recommended post section where it pulls in latest posts of an author and encourages you to view more of this authors content I would like to see this added to peakd and then it can be used as a secondary promotion tool.
Sneaking promotions into recommendations
As you can see from my rough example below a user now visits my post and sees recommended post from my profile, but the top one is actually a promoted post to try and attract clicks from my post.
This is a more organic looking form of advertising and less in your face and could be a cheaper option for those who want to promote without looking like they're buying space and blatantly shoving content in your face.
Adding a new setting to your profile
I thought we could allow users to opt in to earn from the service by going to the content section of their peakd settings page and turning on a setting. That way, the system knows which posts would not mind ads on them.
You can see from my example below a simple option to say monetise my posts, that a user could set and forget or change at any time if they're not happy with the returns or with content living on their posts.
Distribution of the income
When a user burns their HIVE to advertise in our audience network 20% go to peakd, 10% is burned, and 70% of the HIVE is then redistributed to the users who drive views and clicks to the post.
This will encourage users to create content that gets views and engagement that sees people actually open the post and scroll down to read the entire post.
This means that popular content is constantly rewarded, even if its post the 7-day payout and provides longevity for posts and an additional income stream for bloggers.
Have your say
What do you good people of HIVE think? Do you think its a good idea? Do you think its a do-able product upgrade?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
Let's connect
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PeakD has NOT released a PeakD promotional system
What we have right now is a hold-over from SteemPeak that is only there because people wanted it there until we could catch up on some other features and finally get the new one done.
We don't even link to the burn promotion service anywhere on our site... it's basically just for those who know the old link.
We have an update coming out tomorrow and the plan is to move into the Promotion system after that unless something else comes out to slip ahead of it in the queue.
With that said we like your suggestions. Our new promotion system is gonna be way easier to use, much better UI and will have several new features compared to the old steempeak system.
We are looking into better contect connection systems like a recomended posts system that would be awesome. Perhaps if that were to exist there could be a few true recommended and then one promoted in that list. It's an interesting idea we'll keep in mind. Right now the only place for promotions are in the topic pages. We are going to be very cautious where we allow them. And yes giving users options is a big part of any sort of expansion.
Also what you call TAGS we call TOPICS because it's a much more intuitive word for new users.
Thanks for the detailed response and looking forward to the updates, you guys have been doing some amazing work, really been enjoying using the service. I'll wait for the new UI and give it a test once its available.
Yes I fully agree with you we should be cautious about how these things are rolled out and giving users more control over their front ends is key to all of it.
Ah I guess tags is just a force of old habit coming from the steem days lol
I like that idea. Let's hope that some of the Witnesses listen to you. 😊
Sweet so I’m not crazy! I should promote this post later hopefully get more eyes on it
Yo! Good idea here man, I guess the promoted post would probably have to be related topic or community to the original post to have the most effect and this is where tag use is so important to drive organic/proper advertising to another post.
Although when paying HIVE to promote a post in your way, there should probably be options to target tags and pay a bit more for different tags...
Definitely something to develop and discuss IMO
Yes and some tags would naturally get a better premium than others so community and popular tags would cost more since they get the most views! I was thinking set a floor of 0.100 per click so one HIVE gets you 100 clicks or we can go on views of 0.010 HIVE per view
And depending on how many offers are on the table it works on the highest offer first and moves down so it encourages bidding up for views
It will really ramp up the velocity of the currency instead of just having to post those who post content that gets real views get more value so theirs an incentive to create interesting attractive content
The marketing guru has spoken!
Have you mentioned this to @peakd at all? (Tagging them in just in case)
Lol I thought I’d get some community feed back first before I bother them with it, sure theirs more technical things that would need to happen that’s not as simple as I laid out
Ah they take all ideas on board, they're pretty open! I asked if they could put Spotify embeds in and the answer within 5 minutes was, "we'll put them on the next update"... I was like... wow, that's fast response 😃