"Most organizations do not fully realize the cost of losing a customer. Sometimes these losses are shrugged off and it's assume that a lost customer can be easily replaced with a new one. However, research [estimates] that it costs five times more to get a new customer than to retain an existing one. In light of this, focusing on customer retention should be an essential part of any long term business plan."
Dating back to college and throughout my professional experience, this couldn't be more true.
Overhyped and lopsided weight on application development, while focusing SP on padding each others' pockets isn't working. It's been 4 years of the same. Snap out of it.
Many emperors have no clothes and it's ok to let them know.
I'll point out that this post is not about money. Thank you.
Because I want this place to succeed for its larger potential application in society, I'm speaking up yet again, but trying a different approach.
While my stake won't do anything, and I refuse to "buy my influence/power" as that feels so wrong to me, all I can offer are my thoughts and ideas.
I'd try to hold the torch to drive this change, but I'm invisible to most and have optimistically made some portion of trending maybe 5 times in 1,200 blog posts since August 2017. That's nauseating for me.
Facing reality helps us change reality.
This image uncannily represents the adoption rate from Steem to Hive after the fork. After almost 4 years, it's still much of the same. Revitalized enthusiasm and an outlier exchange pump is smoke and mirrors to the REALITY that those on the ground are forced to witness and feel every day.
This doesn't mean we need to be told to use our stake to vote in new witnesses if we want change. I'm sick of that cop-out because it's unrealistic.
This is about choosing to operate with more balance and better leadership from the top down in ways that create tangible benefits for the current users, and ideally attract old users back who quit for the lack thereof.
This means that the bulk of your Steem Power, financial and emotional support does NOT need to be directed towards empty shell applications, newly hyped applications, or bloggers who use the right investor-bait words/tags/references to manipulate huge upvotes to trending.
This means rethinking the equation because the current one, aside from a Huobi pump, is the same ineffective one. To be honest, the new hack-a-thon development challenge was brilliant, and it was wonderful to see people investing in the pool. That's a good sign, but that'll ultimately address a part of the improvements we need.
Why? Consider This Analogy For Perspective:
The Chinese bamboo tree takes 5 years of consistent watering, light and nurturing before the seedling pops out of the ground.
Once it does, it grows 80+ feet in just 6 weeks.
Think about that. Our true potential stems from cultivating our PEOPLE on a consistent basis. Placing more good faith and resources into our people helps them develop and feel valued so they can pay it forward in ways we can't estimate. I think it's our best shot.
Let's give more people the chance to thrive.
If it's not obvious, this leads to:
- happier and healthier educated users
- more pride
- more staking
- more retention
- more trust, belief and good faith
- more proactive authentic grassroots marketing
- more proactive guilt-free recruitment
- more investment
- more engagement
- more building
- more retention
- viral growth
All this at what cost again? Clicking a button a few times a day? Taking care of those who have extensive amounts of knowledge, drive, passion, talent and potential, that have been operating on fumes at best with marginal or sporadic support... so worth it.
In other words, spread the wealth to people who exhibit the qualities we want to replicate in our community. Starving them for any reason, so to speak, is the worst thing one could do. They'll eventually leave and this risks the spread of negative feedback.
The competition will be coming so we don't have the luxury of crossing our fingers for the next killer app to solve everything for us.
The same large votes to the usual suspects is watering just a few mature trees who are already deeply rooted, and clearly set with plenty of stake to trickle down the cultivation. They don't need more. They're the ones who should be cultivating even more because they appreciate how they got there and want to pay it forward. But, do they? You be your own judge.
PLEASE take more care of the faithful population before they wither out or give up. Hope is very valuable. Kindness through some mentoring, support, introductions, or engagement can mean the world to people fighting to break the glass ceiling.
The opportunity cost of losing any seedlings of future growth and potential is so expensive, so change it up. See the forrest through the trees you're limiting your outreach to.
A sizable vote spread around to different individuals (SBI-like) means a lot more than just rewards. It's motivation to do more, be better, give thanks, and rocket fuel to help this place.
Take it from me and plenty of people I've commiserated with, many whom couldn't bang their heads against the wall as long as I have. I'm at my wit's end, but again, I'll just spend my Friday night writing this to try to wave the flag for someone to see.
Idea/Partial Solution:
No-strings-attached sizable delegations to vetted community members who have exhibited a track record of ethics and leadership.
Forget about curation or renting for a while and let these people water the seeds you've lost touch with for you on a rotating/experimental basis.
If there is any foul play, you take it back and they're banned. You're in control.
The ROI is in the retention and empowered users who can do happily do the labor for you. Per above, hopefully you see the value in it. Take my words and multiple them by tens of thousands of people past and present who don't keep pushing to break the glass.
If they do a good job, then you'll know that that portion of your Steem power is doing the right thing by taking care of the people that are part of our foundation.
Help them grow with steady support. The proof will be in the gratitude, reports of new effort, revitalized activity, stronger roots, confidence to promote again, and ultimately massive growth once we break out of the ground floor.
Get the idea?
If that's not viable for you for some reason, please do it yourself. If you don't want to vote, then leave comments that let people know that their continued effort and loyalty is appreciated, or resteem. There are plenty of ways to show you care, and new adopters will be excited by this activity when they make their own splash with a registration.
While many seem consumed by the attention economy buzz these days, the retention economy is just as important. We need a strong foundation to succeed, so let's consistently do the simple things we should do to cultivate it!
Thanks,
Matt
Time to go outside and salvage curb-side recycling to resell to take care of our environment. Please do something daily to reduce waste and/or reuse. It all counts.