Learn about new blockchain social network Steemit— why it’s expanding rapidly and how your business can cash in on its future success.
The next evolution in social networking might just have arrived.
Steemit.com is not just some new character limiting or self-destructive photo platform.
This newcomer is the first social network to be built on blockchain technology.
It’s also the first social network to reward users with cryptocurrency (Steem) for posting, voting and commenting.
Related Article: How to Integrate Social Media into Your Content Strategy
What Does All That Mean in English?
It’s built on a database that’s similar Bitcoin.
You can earn real money from being active on the site.
It’s an exciting new idea that’s fundamentally different to anything that’s previously existed.
You’re one of the first to know, so you have the early adopter’s advantage.
In this article, I will explain what Steemit is, show you evidence of its rapid expansion and then provide you with insider tips on how your business can cash in.
What Is Steemit?
Steemit.com launched in July and, on the face of it, it’s a social network not dissimilar to Reddit and Facebook. You post articles and the community can Upvote them, therefore making them more visible. Users can also comment on your post and be Upvoted for their comment. It’s still in Beta and hasn’t yet reached 100,000 users.
What’s unique about Steemit though, is that you earn money when you:
Post articles
Comment
Upvote content
The money you earn is called Steem; the cryptocurrency underpinning the platform. Steem can either be converted into real dollars (currently via Bitcoin) or reinvested into something called Steem Power, which amounts to a user’s authority and power on the site. The more Steem Power you have, the more you earn and bestow upon others when you engage on the site. Steem Power, by the way, is also a type of share in the company, so each member of the community literally owns a stake.
Steemit CEO Ned Scott explained it this way when speaking with CoinReport: “The way it works is quite great for the users, where the better a post performs, the more the poster and voters earn in Steem Dollars and Power.”
Related Article: 6 Incredibly Easy & Effective Social Media Marketing Tips and Tools for E-commerce Businesses
What’s the Evidence of Steemit’s Meteoric Rise?
Some of the internet’s top cryptocurrency pundits are getting excited about Steemit. Max Keiser, a big name in Bitcoin with 150k followers on Twitter, recently Tweeted that “Steemit is FANTASTIC, IMO”. The early user engagement statistics are extremely strong, even when put up against the big boys of social. When compared to:
Twitter
Pinterest
Yahoo
Reddit
Medium
Steemit’s users visit more pages and spend more time on the site each day. That trend is still continuing upwards, meaning Steemit is actually closing in on Facebook and Google engagement wise. The number of visitors to Steemit is increasing so rapidly that the site recently broke into the top 20,000 U.S. sites by traffic and then, just two weeks later, was on the verge of entering the top 10,000.
How Can Your Business Cash In?
They key to marketing on any social network is simply getting lots of eyeballs per post. On Steemit, your authority (Steem Power) and the authority of the users who Upvote your posts, is basically what decides how many eyeballs you get. This is great news for your business because, as an early adopter, the opportunity is to build up some Steem Power now and potentially enjoy a large increase in that authority if the platform continues to rocket in terms of user base and engagement.
Here’s what to do now to gain Steem Power and position your brand for a Steemit explosion:
Go to the site and register. They are currently giving away $10 worth of Steem to all new sign-ups.
Submit a well-written post introducing your brand. When you submit it, enter one tag only: introduce yourself. Right now, the most powerful users on Steemit are watching and rewarding new users by Upvoting their introduction posts.
Learn about how to follow the super users in order to write expert comments on posts related to your business that already have their attention. This will give your brand exposure since these posts generally get high traffic. These comments could also net you anything up to $300 from Upvotes.
Create and post great content related to your business. If you have a blog, consider rewriting some of your best posts and reposting on Steemit. If you already use videos, then simply post those to the platform.
If you want an even faster start, invest a few thousand dollars directly into Steem Power. This will give your business instant authority on the platform and, since Steem Power is a type of share, grant you a stake in the company.
Related Article: The 4 Most Important Trends from Social Media Marketing World 2016
Conclusion
Steemit might not be the next big thing, but it just might. Using the tips above, you can easily build hundreds or thousands of dollars in Steem Power for your brand and also get some easy and free exposure.
If you hold onto your Steem Power and Steemit does beat the odds to become the next big thing, you could see a handsome return on your investment and also turn your brand into a powerful voice on the platform.