Steem- Power up, promote, or cash out for content costs?
In my first few weeks on steemit, I experienced some success with a post showing off First Person View, Drone flight.
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The profits were minimal, $100. They are enough to question, how best to grow this success.
Three choices come to mind:
- Cash out, re-invest in creative content. (buy FPV equipment for unboxing and reviews). $100 really doesn't go far.
- Use the promote functions on some of the content that I have already produced and hope for similar results
3. Power up
Content Creators: How have you handled this question? What combo has worked best?
Your answers in the comment section will be appreciated.
Sticking my toe in the water. In order to get a decent response to this question, I will see what $10 worth of promotion gets. You the reader can judge the effect by watching this post. I am a minnow with a relatively small following. If you are reading this, it probably worked.
Doubled Down
Shortly after posting this, I took the remaining $120ish and Powered up. The process is a bit scary doing it for the first time. It was straight forward and easy.
Conclusion
The promotion got my video in front of a few new followers. With a little creativity, you can promote your own videos with more success and less cost.
Cashing out is good for the short term. I see myself using steemit rather than Facebook, Instagram, and Twitter as my go-to social media app. Powering up pays you back slowly over the long run, increases the visibility of your posts, and gives you a stronger voice in the community.
After testing the options, I have concluded that Powering up gives the most return in the long run and invests back into the platform. Disagree? Give me your thoughts in the comment section below.
Power up!
Thanks for the advice @birdinc, powered up with the remainder of the steem dollars.
It's really about what's important to you.
Powering up gets you more influence/power within the platform that you can use to bootstrap your way to bigger future earnings.
Promoting is a quicker way toward that goal but it's flash-in-the-pan rather than long-term.
Cashing out gets you your immediate earnings.
Personally I've found that spending SBD on promotion doesn't accomplish a whole lot in the amounts a minnow like me earns, and the value of my rewards in other crypto or FRN is still small enough that it seems smarter to just reinvest it than to cash out for a few bucks. So mostly every few days I've just taken what I have sitting there and used it to power up.
Now that my total account value exceeds $100 FRN, I'll probably start splitting my earnings between powering up and trading into other crypto (Ethereum, most likely), with weight toward the former at first and slowly shifting. That way I keep building Steem Power while also taking some profits.
Love this answer. It doesn't pander and it comes across honest and true. This approach is similar to the plan I formed after posting this. Once I get powered up to a given $$$, then I may start investing back into the content with payouts. In a perfect world, that should increase views as well.
Early on in Bitcoin, I was aware but passed the opportunity. I think steem has the potential to be bigger than Bitcoin. Powering up locks up the money on top of giving you increased influence. Locked up money prevents impulse decisions to liquidate at the whims of the market. If it goes big in the long term, powered up might save me a fortune. If it all goes away- it was a fun ride in between.
We shall see. In 20 years, this post will still be a part of the internet history. The net never forgets.
Side note: Your Stomp box is out-fricken-standing!
Nice shot they look amazing. You seem to like drone I do drone video too. We can follow each other.
My steemit account: https://steemit.com/@shootout
💙 Great post. Very good writing,i like this post 💙
Hi @williamtangfox. I am your follower and I love droning. Unboxing are super fun to watch, but power up first and let make a droning community here on steemit. -Sam
Thanks @cryptoyear0 Agreed. I dumped everything back in. $100 doesn't buy much to unbox. My drone habit says I will buy it anyway. I just need to break out the camera when I do so. While I was contemplating all this, the follow up video to the waterproof your drone post post pulled off another $90 in an afternoon. I am definitely investing more in steem power.
My favorite friend Onek is a beautiful post
power ups ! we need to grow first 4 long term so you hafe mor influence 😊
I think it is going to my head
Hey - you will be fine simply because you are interesting enough to captivate people. It takes some time. You will defintely do great here though. I will follow you and keep my eyes peeled for updates. Welcome, by the way!
Thanks for the encouragement and support! I cannot complain. Steem has been especially kind to me.
I enjoy being a part of the uplifting people. I want to succeed so I am like a little tooth fairy lately - only I don't want your teeth for the little gifties. I just want to reward the good stuff. No strings. Well, the strings are more like long term positivity strings. The more you give the more steem gets. The more steem gets the more I have to dole out to the good stuff that deserves recognition. I am at the smaller end of that totem pole- but watch! This time next year my magical upvotes might be worth a little something. Did you read my "selfless experiment" yet?
I haven't read the "Selfless Experiment" yet. I will give it a read and let you know my thoughts.
yess i agree , its better 4 you and the community because you decide whats good content and if you bring people in to steemit they got a better time getting in!
hi,Dear wellcom,Nice to read about you.
i am fazlon from indonesia,am also new on steemit and welcome you to steemit.
i have followed you.so can follow me & upvote .
Best of Luck!
thank you @williamtangofox