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1252 sats \ 14 replies \ @grayruby 6 Feb \ on: How Pinned Posts Can Earn Sats For Territories meta
I don't mind taking a loss on the territory for even the first year. I just wanted to get a conversation going on how we can improve the economics and probably more importantly what are we going to do about marketing. 10x the users on SN is probably the solution. With more eyeballs come more desire to boost or advertise whatever it may be. Will there eventually be a cohesive marketing strategy that SN uses, and our territories piggyback off that or should we just do our own thing.
One thing I think we definitely need is a territory referral program and I don't mind if this is a shared cost between SN (or more likely the rewards pool) and the territory but I would like to be able to offer a new user 5 free posts and 100 sats or something along those lines to get them started. I am confident in the SN experience and the quality of content creation on SN that if we get people in the door they will keep coming back but as I mentioned in the post it is somewhat shocking to me that I am talking to bitcoiners on Nostr or twitter and they either don't know what SN is or vaguely heard about it but never used it.
This month I will be moving my territory social media posting to twitter and focusing on engaging with sports fans to try and get some newbies but also with the plebs on bitcoin twitter. Even if they don't want to talk sports but come to SN to talk bitcoin or econ or complain about shitcoins it's a win for all of us.
I'm curious what you expect the main difference to be if SN users 10x.
I doubt if posts will increase proportionally and that's most directly relevant for territory owners. If post zapping increased 10x, obviously posting fees could be increased dramatically and that would be great.
What if most of the new users are mostly just engaging in the comments? That's great for the UX, but probably the worst case scenario for monetization.
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Even if new users only engaged in the comments it could lead to more willingness for people to invest in promoting posts, sponsoring a territory if we go that route. If you have a sports podcast for instance and I tell you it's 25,000 sats for you to a post about your podcast with a link to the pod at the top of the territory for a week, it's a much easier sell if I can say the avg posts gets 100 users engaging with it instead of 10.
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I haven't gotten into the mental habit of thinking about advertising on SN yet.
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Promoted or boosted posts, or paid pinned posts are like pseudo advertising. I am not sure I even like the idea of sponsored territories despite the fact it was my idea.
Should k00b be paying me a licensing fee for putting Stacker on the name of my arena or should I be paying him a licensing fee for using his brand?
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My feeling is that he opened this can of worms when he sold the territories. It's not on you to figure out if he missed an entrepreneurial opportunity.
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Will there eventually be a cohesive marketing strategy that SN uses, and our territories piggyback off that or should we just do our own thing.
will put together an overall growth strategy doc outlining efforts SN is taking to grow the site and sharing success stories from territory owners as they occur
All good ideas. I am curious how your X experiment goes. Sports might be fertile ground.
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Yes, midnight Friday GMT, which I think is 8pm EST Friday.
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Great. Yes, I think sports is obviously a huge market but most of the potential will come from outside SN as I have been doing the posts so long now I think most of the stackers that are already on SN that are going to interact with the territory already do. Although there have been a couple new people lately. Is there growth potential from within, sure, but trying to bring sports content enjoyers to SN is probably a better outlet then trying to drag stackers who primarily want to talk about bitcoin and dev stuff to my arena might be a tough sell.
I think pinned posts could be a quick way to profitability for you. If you find the next bitcoin book or finance book coming out and offer the author the pinned spot for a blurb about their forth coming book with a link to where stackers can pre order. You could probably easily recoup your entire rent for the month. I don't see why an author wouldn't pay 100k sats to have a post about their book pinned at the top of the territory for the month before launch. You could also make smaller deals with substack writers. 25k sats for a week of pinned post featuring the blog of their choice and a link to sign up.
You could create a standard sell sheet with a bit of info and data about the territory and SN and why them promoting in the territory would align with their writing or fanbase etc.
Maybe you and @kr should do a test. Pin his bookmarkd blog or his most recent article "joe rogan's top books" or whichever one he wants for a week and see what kind of engagement, feedback you get and he can see if he gets a boost in click through. If his clicks increase 25% for that week that's a potential data point you can use when soliciting others.
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Very good ideas. I already have a few feelers out along the lines you describe re pinned posts, but no commitments yet. I'm starting with small players for small amounts, but even that could cover costs pretty easily.