Idea: SmartCash smart referal reward structure


#1

I assume almost everbody here know about affiliate marketing scheme. Basically it includes rewards for the person who refers a new user to the system. The user contributes to the system and the initial referer is awarded for this.

Current SmartCash system includes SmartRewards feature that itself is a great idea. But what if system is able to link new user SmarRewards wallet and the wallet of inial referer? Then it become possible to award initial referer proportionally to SmartRewards received by a new user (for example 5% for the referer). I’m not sure should this be founded by SmartRewards or SmartHive.

What will it bring to the system? Suddenly, we will see completely autonomous actions from users towards SmartCash promotion apart from direct interactions on this forum. People will start using their affiliate links on social media platforms, own or 3rd party websites. Needless to say, this marketing principle is widely utilized in many fields and has proven itself highly effective.

Here all we need to do is to figure out the best way to implement it technically. This is obviously rather possible. I myself have a couple of implementation idea, but I think it should be much better solved by developers who look after SmartRewards program.

I’d like to hear what you guys think about the idea.


#2

I agree. I think there is an army of investors out there that love the referral system and if we can strike while the iron is hot we can grab so of those guys from the BBIIIIIITTTTTTCCCCOOOONNNNNNEEECCCCCTTT crowd. I seemed like every website and article I read had a referral link. I think this is a great coin and idea with a well sized percent return that seems sustainable.


#3

Yes, Bitconnect is one of the examples of how referral marketing works. Though I saw numerous posts and Youtube videos that Bitconnect is a ponzi scheme. And such opinions are rightful - the Bitconnect explains its profit made by trading bot (it’s damn shady and who knows when it ends).

In comparison to Bitconnect, SmartCash has clear structure of what goes where and we won’t get bad reputation like Bitconnect has.


#4

Yeah I feel like the more complicated the reward structure gets, the less inclined folks are to want to engage with it because it can seem scammy. I like that I’m able to watch a few short videos to understand how it works and feel confident in that knowledge.


#5

Initial investor should only see what we all have seen - SmartRewards. Affiliate reward structure don’t have to be marketed or seen by initial investor. Affiliate program should exist, yet not marketed loudly. Even if new investor will find out about affiliate program later it won’t change anything as it makes a lot of sence in general and money are not generated out of thin air - it is still the same money from new blocks generated in blockchain.

And in general, those who think about the future prefer to invest their efforts, time and creativity into something that can benefit them long term, not just one-time tip. That is why wise people tend to put money/work/time/talents into something that creates long time profit.


#6

I don´t like the idea with referral marketing, there a many reasons why not. A good project don´t need this way of marketing.
There are so many different ways to spread the word, smartcash is known for his smarthive and votingpower and not
for self-mazimizing-affiliate. Just my 2 smarties…


#7

I fully understand your point of view. I also tend not to trust something when I see affiliate links, though there are exceptions. Modern marketing technics are extensive. When you see an affiliate link - it is one thing. But when you find out that you get a bonus when you use affiliate link, it is another step of marketing. This scheme was implemented during extremely successful Electroneum ICO where both referer and new user were rewarded.

Generally the idea of SmartCash referal was given in order to achieve fast grow in terms of new user efficiently, nothing more. It is not offering better look, fact. But it is good to remember that although crypto currency market is still young and growing fast, there will be few winers and many left behind coins. I’m not saying that SmartCash is at risk, but the more and the faster is done, the better is the chance of growing big. Really big, as miner’s share in new block is small. If you do have better scheme to insentivise the promoters - please share one. Please don’t offer a contest for the best SmartCash article - it limits the way of marketing vastly and not everyone may consider participation in a contest reasonable time investment.

The promoters are different, their work cost differently, their work quality is different and the way they work may differ a lot. I worked in SEO and contextual ads marketing and many of my online promotion technics involve spending money to earn money including expenses on work of freelance writers and SEO guys, paid adds in search engines and platforms and so on. The efficient field of work in web space is hard to estimate, also it is hard to predict the outcome. If referal program is launched then you still do your job exclusively on expectations because you like the project and believe in it.

Only smart referal would open the possibility to anyone to market the project wisely and efficiently with own money, on the downside it may also allow nasty way of marketing like spam. But nethertheless referal scheme is highly effective and implemented in many online brands and stores. Most of the time end customer don’t even know how exactly he got to the shop.

I’m not strongly advising on using referal program, I’m just sharing an idea and explaining how it works. And I’m watching with interest how community-funded project works in reality.


Help me be helpful
#8

@Jonboy32935 if this is your idea of marketing than I am sorry to say but you have no basic sense of how marketing is or should be done.

@God Statement what follows is been posted out there numerous times and is also set as a Channel topic on #SmartRewards channel at Slack & is been mentioned numerous times by Hive Team Members : SmartCash/SmartRewards is not not an investment. SmartCash is neither paying any interest on deposit nor this is a dividend. SmartCash distributes 15% of the block reward to SmartCash holders. It is a way of price stabilization and distributing coins to the community.


#9

Refer you friends , family, colleagues.Click pictures wearing SmartCash T-shirts. Promote it on facebook, twitter, do outdoor marketing, do cross-border marketing Do it all but SmartCash should not be presented as an Investment scheme to anyone because SmartCash is not about that or ROI.

This is what I feel as a community member^^.


#10

Well it was a light hearted joke kinda so put some ice on it… But if you think that the referral system is not a good marketing system then you have no idea what the word marketing means. I don’t want this to be anything like Bitconnect but if we want to grow this community and have this coin survive the referral system is just a great way to basically hire a bunch of people to spread the word. Its really no different than some of the giveaways we have done. We are basically bribing people to spread the word and come hang out.


#11

My reply ^^ literally starts with the statement “Refer your friends” and “Do it all”. I did not say SmartCash is not looking into referral marketing or it is a bad idea. All I am trying to convey is that, SmartCash is not an investment & is not about ROI. Hence there is no need to make any connection with Bitconnect.


#12

In my opinion affiliate program is a big NO, NO, it will just creating an army of spammer that bring the pure and clean coin reputation getting some stain. Me I get into these train not because I got someone invited me because he/she can earn some if I am going to signup. What we need here is the one who have faith and a believer if these great community can do.


#13

SmartCash in my opinion is growing at a good steady pace. Lets not copy Bitconnect and soon run out of steam. Our reputation is everything. Association with something so debatable could impact SmartCash badly


#14

@fairypark @densche1 @cryptodate @cloudspyder @nitego

Good point everyone, it is pretty clear now that community thinks No rather than Yes on referral program. And it is indeed great that we may discuss everything in such an open and honest manner. I value it highly.

To be completely honest, one of the reasons related to this idea creation was fear. Yes, the fear )) The main concept of SmartCash appeared so obviously genius to me. So I thought of what if the concept of SmartCash block reward structure would be soon copied and implemented in the other coin with some tech or other advantages with extensive marketing approach? What would happen then? I thought we should grow asap.

But I guess here I just got too paranoid :grin:
SmartCash is the first one here, good start is done.

We should still do our best. Create, inspire, share, implement, speak up ))
The move to the brighter future! :sun_with_face:

Thank you everyone for the feedback! Thank you for not being silent! Keep on rolling!

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