It’s so important to have a real idea of if your steem activities are paying off. Understanding the “Key Performance Indicator” of your steem account is the first step towards achieving sustainable growth on this site.
What is a Key Performance Indicator
A Key Performance Indicator or KPI is the single piece of data that correlates with your overall success.
With any endeavor, there is a lot of data. For a steem account you have many factors - Steem Power, Reputation, Followers, Post Viewership - these are just the surface level!
It’s hard to know which data is most related to your success. If you could choose to have 500 more followers or 2,000 more SP, which is more valuable in the long run? If your posts could get 100 more views on average or $5 more payout, which is a bigger indicator of long-term success?
Lots of information can be overwhelming. source: pixabay
KPIs are the answer to that question. But it’s not always easy to figure out what they are.
The Three Pillars of Steem Success
Steem success requires three broad elements: Followers, Viewers, and Payouts.
You need followers because more followers gives you a larger base of support. You need viewers because if nobody is looking at your posts, you aren’t creating real value. And you need payouts because that is what most people want out of steem in the end - money!
These things fuel each other. Posts with a lot of views get you more followers and better payouts. Better payouts get more people to look at your stuff. It’s all tied together.
The Best Way to Measure Steem Growth
I think the simplest piece of data you can use to measure your success is your Projected SP Growth for Next Week.
This is the % that your account will gain SP based on all of your upcoming payouts. You can see yours over at https://steem.supply (warning - there are reports of a background miner on this site so don’t leave it open in the background). Here’s an image of mine right now:
7% projected growth in the upcoming week! Of course that assumes I power up all my liquid SBD. If you are cashing out your liquid half then this number needs to be cut in half.
I think it’s a good goal for any minnow to try and grow by 5% each week. That will compound quickly. It’s a big challenge, but it’s so doable - you can post 3-4 times per day without pissing people off if it’s good content, and that is a lot of “at-bats” to try and earn good rewards.
Projected Weekly SP Growth, is the KPI I will be using from now on. I think it sums up everything about how to succeed at steem in one number.
Question
What do you think? What is your Key Performance Indicator for your steem account? Share your insights in the comments.
