I spent $50 on Twitter to promote my story about Honest Cash

2019-03-19T03:29:18.000Z Honest Cash

I really love Honest Cash, which is why I spend so much time promoting it. But going around knocking on doors (figuratively speaking) really isn’t the most efficient way to spread the word.

The other day I spent $50 dollars on Twitter to promote my tweet about how Honest Cash should display its most valuable content on its homepage

First I entered my credit card info…

Personally I would have really preferred to pay with Paypal.

The next step was to specify the location and the budget…

For some reason there were only three locations available…

United States

Colorado, USA

Denver

Why Colorado? I live in California.

The minimum budget was $50 bucks. According to Twitter, this amount of money would buy me approximately…

Impressions: 41.7K

Engagements: 129

I clicked the payment button…

Here were the results…

Impressions: 16.4K

Engagements: 79

Would I have gotten more bang for my buck on Facebook? Last month I tried to spend $30 bucks on Facebook to promote Honest Cash. Here was the post that I wanted to “boost”…

I clicked "Boost Post" and selected the target audience…

… and then I selected the budget and duration…

The ad wasn’t approved because, according to Facebook, crypto is sketchy.

A few years ago on Facebook I spent $100 to boost a post and it received over 100 “likes”.

Facebook and Twitter both make it relatively easy for anybody to spend their money to help their content reach a wider audience. Both websites make advertising more accessible.

The effectiveness of advertising on Facebook and Twitter is… debatable. But what about the demand for this service? Obviously I’m not the only one who is willing to pay for more eyeballs.

Coincidentally, I recently found a relevant short story on HC by michaelten

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Are there any websites that offer self serve advertising, and accept cryptocurrencies for payment? Twitter, Google, and Facebook all allow for online self serve advertising. They seem to only accept national fiat currencies for payment.

Are there any popular websites, probably social media websites, that accept offer self serve advertising features, and accept cryptocurrencies for payment?

I hope such a website exists, or exists soon if it does not already. Of course, it should have an accompanying Android and iOS app that also has self serve advertising connected to the website, and also accepts cryptocurrencies for payment. Such a site/app should also allow for members to pay a small monthly fee with cryptocurrencies to not see ads on the site/app.

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HC already offers self-serve advertising, but we can only boost other people’s posts. On Facebook and Twitter it’s the opposite.

In a discussion with Minglechain I put it in terms of a drowning child…

Twitter/FB: only the child’s parents can rescue the child

Honest Cash: everybody but the child’s parents can rescue the child

HC’s founder, Adrian Barwicki, seemed to be on the verge of making it possible for us to boost our own posts, but then his priorities changed. The problem is that his new priorities aren’t accurately informed by our priorities, given that we don’t have the opportunity to boost our own suggestions.

Let’s say that Barwicki did give us the freedom to boost our own posts. How much money would I be willing to spend on my post about putting the most valuable content on HC’s homepage? If I spent $12 bucks on it, then it would outrank HC’s current highest ranking story. Anybody not happy with the new rankings would be more than welcome to spend their money to improve them, which is the true beauty of HC.

Personally I’m certain that this system of collaborative advertising is far more effective than Facebook and Twitter’s system. On HC we can boost a post for as little as a quarter, which makes advertising super accessible, and we can actually see the rankings, which makes advertising on HC far more transparent.

Crowdfunded ranking will revolutionize advertising. It’s just a question of whether HC is willing to lead the revolution.

If Barwicki doesn’t want our money, some other entrepreneur will come along and be more than happy to take it.

HC has proven that some people are happy to help boost other people’s posts. Facebook and Twitter have proven that some people are happy to boost their own posts. It shouldn’t take an exceptional entrepreneur to put two and two together. Everybody should have the freedom to boost anybody’s posts… especially their own.

Responses


RE: I spent $50 on Twitter to promote my story about Honest Cash

by @Tuventure

Appreciate your kind attempt in promoting via paid promo ads In Twitter!

Reading further, my opinion on the developer/creator not opening up the system too fast is perhaps for safety. Safety such as preventing spam, useless writings. (it's happening a lot in Yours.org sadly)

Anyway have a good day and good discussion with the creator of Honest Cash!


RE: I spent $50 on Twitter to promote my story about Honest Cash

by @siddartha

Interesting. I can understand that engagements can fluctuate but how do impressions fluctuate so much. It showed 44K impressions and actually gave 16K! But personally I'm not sure if anyone even views or clicks sponsored content. I don't remember the last time I did it. I simply ignore sponsored stuff.


But as for your point about self boosts, I think it is a good idea. Trybe, Cent, Steemit; all of them allow it. So maybe Honest Cash can also think about it.


RE: I spent $50 on Twitter to promote my story about Honest Cash

by @emrosedallara

In response to your Twitter ad post:

I would like to mention a few things.

Online advertising is not simple. It requires prior, in-depth knowledge of your target audience. For example; what makes them engage in terms of clicks and shares, and where to target these people-- are two of the biggest areas people fall down and don't gain a decent ROI/ result.

Also, think about the content and structure of the post you tried to 'boost'. Video actually receives higher engagement with certain target markets, in different locations--these are all things you need to consider when using targeted social ads.

Facebook has a chip on its shoulder re crypto, but some ads are allowed, if not directly related to gambling. IMO to reach a larger audience, you could have explained HC in the first sentence, then asked the question and then a call to action underneath. Your last sentence was actually a statement rather than a question, people want to have leeway- don't push ideas on them, let them bring their own ideas to you. Then used different variables for each ad you test. Change the content, change the audience, change the image. Etc etc. It's all trial and error until you hit the sweet spot with online advertising.

To answer your question re other options for ads right now: have you checked out memopay? 


RE: RE: I spent $50 on Twitter to promote my story about Honest Cash

by @Xerographica

Thanks for the feedback on my Twitter ad/post. There are two main reasons why I spent $50 dollars on my tweet. I wanted to…

1. …demonstrate that it is really important for me that Honest Cash put its most valuable content on its homepage

2. …illustrate that I should have the freedom to spend my money on my Honest Cash posts.

I never heard of memopay, thanks for telling me about it. I checked it out and it seems to use the traditional advertising model, which I am really not a fan of. From my perspective the crowdfunding advertising model is vastly superior. HC uses the crowdfunded advertising model, which is awesome, except for the huge problem that we don't have the freedom to spend our money on our own posts.

Do you use adblocker? I sure do, and I really love it, because I hate traditional ads. They are incredibly irrelevant to my interests, so they are a complete waste of my attention and the advertisers' money.

But with crowdfunded advertising, like on Honest Cash, I'm only going to click on the keywords that I'm interested in, such as #economics and #art, which means that I'm only going to see relevant ads/posts. The first ones that I see are going to be the most valuable ones. Unfortunately, right now the valuations aren't very accurate. This is simply because we don't have the freedom to spend money on our own posts.

X = traditional advertising

Y = crowdfunded advertising

Y > X

What do you think? Does my explanation make sense?