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Advertising works! It worked AMAZINGLY for Steem in the past and it can work for Hive!

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Andrew Hamilton
@apshamilton
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3 min read

I often see Hiveans say that marketing and advertising doesn't work and that [insert problem here] meant that marketing and advertising Hive isn't worth it.

Well this is utter BS!

And I have the evidence to prove it - In Court!

@jerrybanfield conducted a very successful paid advertising campaign promoting Steem:

  • on Facebook from June 2017 to 29 Jan 2018; and
  • on Google (incl YouTube) from June 2017 to April 2018.

Have a look at the numbers!

Notice that every single measure peaks on the 29 Jan 2018 - the day before Facebook banned all Crypto Ads.

This is a key piece of evidence in the Crypto Class Action with @jpbliberty.

Here is a small extract from my Statement of Claim in the Crypto Class Action

  1. During the period 2 June 2017 until late April 2018, an extensive crowdfunded campaign of promoting the Steem blockchain and STEEM cryptocurrency using paid advertising on the Facebook, Google search and YouTube platforms was conducted by a highly experienced digital marketing professional called Jerry Banfield (“Banfield Campaign”). It was supported financially and operationally by large numbers of Steem blockchain users.

  2. Jerry Banfield intended to continue and expand the Banfield Campaign in 2018, but was prevented from doing so by the Respondents contravening conduct.

  3. During the period from 2 June 2017 to 29 January 2018 the Steem blockchain and Steemit social media website experienced very rapid growth on relevant measures of social media success, website popularity and the STEEM price: i) the number of weekly new users rose 18 fold to a record high; ii) the number of weekly posts rose 9.4 fold to a record high; iii) the number of weekly comments rose 6.7 fold to a record high; iv) the number of monthly active users rose 9.7 fold to a record high; v) the Alexa ranking of the Steemit.com website (global popularity by website traffic) rose from #3221 to #1156
    vi) Steemit.com’s record high Alexa ranking of #932 was achieved almost 6 weeks later on 10 March 2018, which is consistent with an actual peak in website traffic around 29 January 2018, as Alexa measures website traffic over a 3 month period); vii) the price of STEEM rose 6.75 fold to US$6.14; viii) a record high 20,898 new users in a single day was set on 29 Jan 2018

  4. The Banfield Campaign was a significant contributor to the growth of Steem during the period from 2 June 2017 to 29 January 2018.

  5. Advertising on the Respondents’ platforms is highly effective when targeted by experienced professionals. Promotion of Steem on Facebook was particularly effective in attracting users of the Facebook social media network to try the Steemit social media network.

  6. The Banfield Campaign ceased paid advertising on Facebook at the end of January 2018 due to the Facebook First Ad Ban Announcement and the implementation of the Facebook First Ad Ban Policy.

  7. The Banfield Campaign’s last promoted post was dated 17 April 2018 and it ceased paid advertising on Google (search and YouTube) shortly thereafter due to the Google Ad Ban Announcement and the implementation of the Google Ad Ban Policy.

  8. During the period from 30 January 2018 until the end of 2018 the Steem blockchain and Steemit social media website experienced severe decline on relevant measures of social media success, website popularity and the STEEM price: i) the number of weekly new users fell 59 fold; ii) the number of weekly posts fell 5.6 fold; iii) the number of weekly comments fell 4.2 fold; iv) the number of monthly active users fell 2.4 fold; v) the Alexa ranking fell from its 10 March 2018 peak of #932 to #2988; vi) the STEEM price fell 21 fold.