A New Fund: The Masterstroke Hive Needs — For Marketing, Advertising, And Promotions!

in OCD2 months ago (edited)

Dear Hivers,

I would like to take a moment to talk about Hive’s future marketing. Future advertising. And future promotional campaigns. All these are instrumental for onboarding brand new users.

You see, there is a new wave of opportunity right here — that is worth paying attention to. And if done rightly, it can take the platform to a newer heights.

Let us explore this together.

First, as you are already familiar:

  • Hive depends on no one but the community for its growth.
  • Because of our decentralized nature, the members of this community are the only backbone.

Keeping this in mind:

The question is: How can we take it further?

Answer: By pushing the community members, isn't it? You see, someone has to push our buttons — so that we can take that extra step. So that we can create new ideas. Campaigns. Promotions. And overall, so that we can promote Hive outside of Hive.

And if this push has some sort of incentive? Even better, right? Because it is through incentives that we will start operating to our full potential. Without it, the motivation is dry. There's a lack of interest.



Recently, when I was reading Human Motivation, I discovered a formula designed by the American psychologist Hull.

It revolves around the potential within us. Our full potential — a strong response — is a combination of these three: our drive, our habit, and our incentives.

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Meaning: To respond with absolute potential, we need all three to work together.

This is the foundation of human behaviour.

In fact, K (incentives) was added later in the revised principle because Hull saw its "multiplying" effect. Incentives drive us to do more. That's why sales folks are heavily incentivized.

Fortunately, Hive has been offering incentives in its own ways. One is the reward for posting and engaging.

But there's another incentive called the Decentralized Hive Fund.

If you are familiar with this, then you will know the funds are allocated to the developers. We have seen some jaw-dropping proposals on DHF – aiming towards product development of exiting and new ones.

But, for the first time, we are witnessing a shift in our direction. The funds are used for something else. And I was delighted to see this.

You see, recently Justine came up with a proof-of-work proposal. In summary, Justine worked behind-the-scenes for the launch of Hive. Then she continued with her ongoing effort. It was purely a non-development effort that was required.

In short, here’s what was achieved:

  • Reaching out to media to cover stories
  • Handling social media channels
  • Handling exchange listings
  • Execution of AMA (Ask Me Anything)

You can read the article here. And you can also support her proposal here.

To summarize:

Because the product was ready, somebody had to invest time and effort to promote it through various channels, isn’t it? Justine took the lead. After the work was done, Justine decided to create a proposal seeking funds from DHF.

This could be a game-changer.

Because, as you browse through the Decentralized Hive Fund, you will find every proposal revolves around technical achievements. If we add another layer of marketing, advertising, and promotional campaigns — we are going to strengthen the platform even further.


BrandNew.png


Having worked with two cryptocurrency exchanges for almost two years now — as a consultant, marketer, and even overseas manager — I had the opportunity to experiment. Our task was, really, to get users. And the idea was to tell users to get users.

Tell users. To get users.

This was the community-based approach that worked successfully.

Similarly, members of Hive can truly use this as an opportunity. You see, you can go all-out on the web to promote Hive.

For example:

  • You can come up with new ideas to promote Hive.blog — from social media updates (in local language) to making YouTube videos, or publishing content on Medium.

  • You can also look into advertising. For example: run Hive ads on websites. Or even browsers like Brave (we also have a proposal around this).

  • You can also look into promotional campaigns. For example: hosting offline events, giving away tokens, working with influencers, and so on.

And once you do that, you get the results. And then you convert this result into a post — present it here as a proposal.

This is a perfect basic model.

It allows individual freedom to do their best to promote Hive on the external platforms. Perhaps you can build a Hive Malaysia Twitter account — and continue sharing updates. Or create a new comparison website, or blog posts on Publish0x, Medium, and so on.

Now, for some of you, you may already know this. We had this opportunity for a long time now. Yet no one utilised it when you think about it.

Why?

Because there is always an element of uncertainty — hesitancy — knowing the proposal may not be funded. Meaning: no money for you. And it will leave you disappointed, isn't it?

Even Justine knew this. In one of her comment:

I think most of us agreed we should put much of the work in first, before asking for contributions. That way the community has something to go off of. And if the proposal doesn’t get funded, I just don’t receive any contributions for work done. 🙂

In other words: If the proposal doesn’t get funded, you get nothing. And if you were Justine, and you knew that your efforts led to dead-end, how would you feel? Maybe you can always say:

  • I don't care about money.
  • I did it because I love Hive.
  • I did it because I have a good heart.
  • I did it because it was my responsibility.
  • I did it as an act of contribution.

All these are valid reasons. But not everyone is wired this way.


BrandNew.png


Based on my experience, solo efforts are great. They validate the interest of the community members to support the platform. But, as outlined above, one gets to taste disappointed — if the proposal is not funded.

It also creates another problem — few members will begin to fight while demanding for their fair share. After all, several hours were invested, isn't it?

Then there's another set of people who find no value in this. They don't see any effective results. They would rather prefer the funds, you know, going into developmental activities.

And that is why, we move to a new ”guaranteed incentive” model. Here, rather than individuals working, we have a group. Each group has 3-5 members who compete every month.

Now, I know this may seem like a far-fetched idea but this was effective — and possibly a masterstroke for a platform like. Bare with me as I share the unpolished structure with you:

Phase 1: New "Promotional Fund"


To start with, a fixed HBD is allocated for a certain duration.

  • Let’s take 10 months of promotional activity.
  • And 100,000 HBD.

This becomes our promotional fund.

Once this proposal of 100,000 HBD is passed, we now utilize 10,000 HBD (1/10th) from the promotional fund. We use it every month.

It is the prize money.

Phase 2: Creating competition


Before the start of the month, a group (of 3-5 members) apply for the competition. They do all the activities possible: marketing, advertising, and run campaigns.

Say we have 10 groups.

Each group works the entire month to promote Hive. They do everything they can — whatever they feel is important — and present the result at the end of the month.

Phase 3: Picking winners


Once the group submits the result, we vote. We go through the tasks completed — the channels — the metrics — and other significant details before casting our valuable vote.

This is where the consensus mechanism is useful.

Based on the final results, the winners are sorted and respective HBDs are distributed as follows:

Rank 1: 3000 HBD
Rank 2: 2500 HBD
Rank 3: 1500 HBD
.
.
Rank 10: 300 HBD

This way, there is a guaranteed incentive — compensation — for their efforts. No one loses. One who puts the most effort yielding effective results? Gets paid the most.

Plus, it is not just individuals promoting the platform but groups (30+ people) working towards their goal — to fight for the top spot.

As an example, group 1 can do this:

HivePromotion.png

If you see the above promotional plan, I have mentioned how the Group 1 decides to promote:

  • By writing articles - educational, analytical, influential, and news
  • By creating a new blog
  • By creating and handling social media channels

Then we have, for example, another group:

HivePromotion copy.png

Group 2 here focusses not just on articles but also SEO and writing answers on Quora + Reddit, for example.

You see what's happening here?

We now have 10 groups doing 100s of different (or even similar) things – creating a powerful ripple effect with investment 10 times less than what marketing agencies charge... with results 10 times effective.

All this simply turns into a powerful community-based marketing agency.

And with this, we give birth to true communalization — where we not only protect our platform but also walk an extra mile to ensure it hits all the key areas — marketing, advertising, and campaigns.

We tap into our full potential. Introduce creativity. And design effective results.

Of course, this idea can be further polished. And we have to see if the promotional funds can be created – for which we need a proposal and a committee to manage this fund (long-term holders with 100,000 HP at least, for example).

I consider this idea the beginning of something new. Of course, it is unpolished – with hidden gaps – which is why I would love to hear from you.

What are your thoughts on this? Can we have a PDF (Promotional Decentralized Funds)? Do you like the idea? Maybe we can improve this further? Whatever you feel like, please share. I would love to know and see what we can do to take it forward!

Cheers,
Sid


TLDR: The recent non-development fund request is creating a new wave of opportunity for the community members. It also, however, comes with several issues.

Solution: So we create a new "guaranteed incentive" model that is tied to a Promotional Fund. Say this fund has 100,000 HBD. Each month 10,000 HBDs are distributed. They are distributed to groups promoting Hive outside of Hive.

.
.

PS: I am also tagging key witnesses and members here.

Key 20 witnesses: @gtg @blocktrades @themarkymark @good-karma @roelandp @anyx @ausbitbank @steempress @someguy123 @drakos @therealwolf @steempeak @yabapmatt @abit @followbtcnews @arcange @pharesim @cervantes @netuoso @ocd-witness @aggroed

Key 20 members: @theycallmedan @pfunk @jesta @darthknight @riverhead @roadscape @trafalgar @likwid @xxxxxxxxxx @tombstone @hendrikdegrote @enki @matt-a @acidyo @neoxian @abh12345 @azircon @galenkp @timcliff @kevinwong


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Another well thought out and presented post full of logic and good ideas. I'm not very hive-centric in my thinking, meaning I have no real clue about all the intricacies of it. I'm just a content creator, but I appreciate people like you who keep pushing it forward. We need both content creators and people like yourself working to improve the experience and drive it forward.

Another well thought out and presented post full of logic and good ideas.

Thank you!

I'm not very hive-centric in my thinking, meaning I have no real clue about all the intricacies of it

Galenkp, I am like you. The TDLR was written for that reason. I 100% think this could be a game-changer as it will drive more content creators on the platform for a fraction of a cost. And make existing ones tremendously powerful.

We need both content creators and people like yourself working to improve the experience and drive it forward.

Hehe! Let's do this! :)

"Content creators" That's all of us I guess...We all have something to add whether it's a bowl of soup or a 1000-2000 word post Like I do twice a day...It's not all good, but it's all content.

I think the idea that some have voiced about there being no good content is insulting to everyone...We are, after all, just normal people, each with our own thoughts, ideas, opinions and feelings...We should be able to share them and so, not all of the work here is spectacular content. We can't all be amazing writers, photographers or powerful and influential celebrities...Most of us, me included, are just normal, everyday people. It's enough to be that, or it should be at least.

Having said that, we need some standout-content-creators to come on board I think. People with huge followings, notable and interesting people...As I said, I'm optimistic as is my brother @tarazkp, and it's going to take time...Until then we all need to be presenting ourselves in the best way possible, which represents the platform in the same way...That way when people look in, they see something they want to be a part of.

Anyway, I don't really know I guess...I just create some stuff, throw it out there and hope some of it sticks, that a few finds some value in it.

Have a great day.

Having said that, we need some standout-content-creators to come on board I think. People with huge followings, notable and interesting people...

Point. Question is: How is this possible?

You know, Medium picked up pace, right? It has gone from nothing to being one of the most preferred choice for everyone. And now they are paying handsomely to writers. Sure, there's censorship (which is oddly magnified) but the rewards are not bad either.

Anyway, I don't really know I guess...I just create some stuff, throw it out there and hope some of it sticks, that a few finds some value in it.

Haha! We are in the same boat. We are few in numbers. It will grow - yes. With time - for sure. My proposal was to accelerate this process of growth. :)

Guess not enough interest here. Another 2-day-research - 2-year-experience - content meets dead-end. Sigh.

I don't have the answers I'm afraid...What people out there want, what they respond to...I just don't know. I mean what made Facebook and Instagram so popular? I have no clue.

You are smart!

Lol...Where were you when my high school teachers said I'll never amount to anything!

So do you do this for a living? If Hive was a company, they should hire you!

Haha! I will take that as a compliment.

If Hive was a company, they should hire you!

How I wish! :)

I have mixed feelings on this. For one thing, as I read more on this topic I increasingly think I should create an after-the-fact proposal for my creation of the 4 lesson video tutorial, especially before I start uploading it as a free course to course marketplaces to bring new people into HIVE.

On the other hand, I realize that working as a part of an ongoing team isn't the same thing at all, and especially once competition is introduced. It feels so unattractive to me, more like a commission-based job than a service to the community; one that is hopefully compensated somehow, but focused on cooperation instead of competition.

But then, I guess the proposal system as it is now is still something of a competition isn't it? Just with a lot less people participating because it isn't fully understood and integrated into community norms.

as I read more on this topic I increasingly think I should create an after-the-fact proposal for my creation of the 4 lesson video tutorial, especially before I start uploading it as a free course to course marketplaces to bring new people into HIVE.

Point. We are talking about "creation" - creation of videos. And they can go to YouTube, or stay here. And if this creation brings effective results elsewhere - and if you feel like you should try seeking funds, then by all means... you can make a proposal with the metrics (YouTube views, for example).

more like a commission-based job than a service to the community; one that is hopefully compensated somehow, but focused on cooperation instead of competition.

It is important to mention "group" once again. This is a small set of people interested in, like you said, commission-based job. So we really have two things: 95% focussed on creating content... and 5% on marketing for this commission. This 5% will bring more new users.

So really it is all about merging two roads here. At the same time.

I guess the proposal system as it is now is still something of a competition isn't it?

It is. And it is really around development. The idea is to allocate some funds for promotion too.

I wonder though about the team element. For example, when a bunch of us were using Twitter to put pressure on exchanges to do the right thing, and piling shame on Sun, we were each acting independently, but also in loose concert. I wonder how that would have worked had we been a formal team splitting rewards (presumably equally) and so having to divide up the work formally, even though some may have a following <100 and some >10,000.

Or with the example of my tutorials, well no one can really help me make them, nor really with the course creation which is easier for me to do on my own into existing accounts. Sure folks might be able to help spread links to those courses to drive traffic beyond the native platforms, but my thinking is that the native platform traffic is the social promotion element at play there, not just more Twitter/FB/YT.

Could one be a team of 1? How much of a chance would a team of 1 have of winning? Would this run in parallel with the existing system, so that a non-developer might try their hand at either?

For example, when a bunch of us were using Twitter to put pressure on exchanges to do the right thing, and piling shame on Sun, we were each acting independently, but also in loose concert.

Hence the condition that a "group" should apply before the start of the month. So only those who do that will be eligible for it.

Sure folks might be able to help spread links to those courses to drive traffic beyond the native platforms, but my thinking is that the native platform traffic is the social promotion element at play there, not just more Twitter/FB/YT.

The idea is to promote Hive outside of Hive. Ongoing content creators like us simply continue as it is. We are not shutting down anything - only introducing an element of new job (as you said) that will work parallelly to drive more users to the platform. This way, even our content, gets more visibility due to a large portion of the users here.

Right now, we are simply living in our own world. We can accelerate this process. No reason not to.

Could one be a team of 1? How much of a chance would a team of 1 have of winning? Would this run in parallel with the existing system, so that a non-developer might try their hand at either?

Hehe. I have mentioned that solo efforts are great (just CTRL+F). Just that it has its own flaws, so we move to the group model with at least 3 members. If you are a team of 1, you have to find 3 people who will work with you. Even if those other 2 don't work, that's cool.

Again, one important fact is, the number of groups are unlimited but only 10 gets paid (for example). So low-quality groups not doing anything earn nothing.

I am not sure if you know or not but we had Utopian, where you used to get up votes for promoting open source projects. Say for example you have promoted HIVE in social media and posted a report. You will get an up vote similar or more to that amount which you have invested. In that way you dont have to seek the fund, but you get more than what you have invested.

Now think if each one of us do a campaign and get an upvote more than how much we have invested then why not do it rather than wait for proposal to get funded. My thoughts.

Interesting. I don't know Utopian. Good idea.

Say for example you have promoted HIVE in social media and posted a report.

Talk about results that can't be measured though. Like getting an article about Hive on CoinDesk (or claiming too). Hence the manual community-driven process is important, isn't it?

I am more inclined towards promoting Social Media like Facebook, LinkedIn, Twitter, etc where you can actually measure it through the impressions and link clicks. The budget should be less like $10-$20, so that you can get profit too after the upvotes.

Again, it will be restricted to only social platforms. Also, how do you deal with spam? I hope Utopian had a way around that?

Yes for a time being it was restricted to only social platforms. For the spam component, Utopian had moderators who used to go through the report submitted and then based on the findings that the report is correct, they used to get the upvotes.

@sidwrites ita maal lete kaha se ho aap. Very nice post 👌 and perfect idea to work on growth.

I love the idea, incentives creates motivation to promote, competition creates urge to out do others. This could really help hive in its promotion and increasing user base.
I hope something like this is applied in the future.

One thing i know for sure...I decided to set up a twitter account and share my articles there...Those are going to be my 2 promotional cents:)

In any way I like the way you’re going. In all honesty we as a community should set up a "financial roadmap"...where and why we want to spend our money...We need like a new "economic whitepaper". And marketing cannot be missing it’s an important piece of the puzzle! I will share some of my thoughts about the Proposal system in my 2morrows article. Feel free to come by:)