RE: BitShares Hangout #27 - 2017-06-30 - OpenSource Agenda [Top Contributing Posts will Earn WhaleShares and BeyondBits!]
Wow, I was waiting for this post! Here is my proposal. I may not be able to participate as a speaker, so feel free to discuss this here.
I think if we tweak the membership plan a bit, then bitshares can actually have a lot more members and volume. This is a sure shot thing. Basically there are many Affiliate marketers who first used to market revsares, HYIPs etc. You might have heard of sites like MPA (Mypayingads), Bitluna etc. The top affiliate marketers brought in thousands of members (and $) just within some months. But, right now, the phase of these revshares and HYIPs has gone and basically all these affiliate marketers have shifted to crypto trading. Now their followers follow their trading tips. My plan is to harvest these marketers to promote Bitshares as an exchange and in return they will of course get ref commissions. But there is 1 issue with the current membership plan. To be able to promote ur ref link, u require the lifetime membership. Which many affiliate marketers won't be interested to buy, as they don't want to pay money to get ref link and secondly, it can't be said when they will get their ROI on it. So my suggestions:
- Reflinks should be available to every BTS member, so that he/she can actively promote BTS. Lifetime members can have the 80% fee cashback as usual + other benefits like more ref commissions than basic members. Basic members can have a ref commission of 10%-15%.
- If option 1 can not be implemented, then another membership plan between basic and lifetime membership should be added, with less membership fees. Also the option of postpaid membership fee should be there, so more members can buy it. The payments will be deducted from their ref commissions. No cashbacks will be available in this plan.
- Further more, you can lessen the current ref commissions and add option of second level (referral of referral) ref commissions. This will boost the promotion of Bitshares even more.
I think with the simple steps mentioned above, not only Bitshares would get free marketing, but also much better results in terms of amount of members and volume of trades. This will then of course also help in increasing the prices of native BTS tokens like whaleshare. I am not a technical person, but since I have been involved with affiliate marketing and know many affiliate marketers, I can tell you that this thing works. Polo is losing it's ground and now is the best time to capture the market.
I Hope you will give it a thought.
What about a reduction in the cost of LTM membership?
I can see the benefits of making referrals open to the public, however I feel that this may open up the possibility for these links to be heavily spammed on the internet (perhaps bad image, though at the benefit of increased userbase).
I like the idea of reduced referral income for non-ltm users, that at least is a middle ground that most could get behind..
Thanks for showing interest in my proposal. Yes, I agree that ref links for everyone may make ppl spam them more all over the internet. But, it will also ensure we get much much more members and trades, which is more essential. Otherwise, we do have an option of membership between lifetime and basic. :)