The cost of acquiring users

Out of all the amazing discussions we’ve had on Hive’s official Discord, the one bullet point I find utterly fascinating is the idea of paying money to acquire users.

You see, the notion that a platform has to spend money just to effectively give money away seems off at first glance. But that’s only because it’s not a conversation most people are having.

In fact, I started digging into this topic a bit. I wanted to find out if there’s a universal average cost per acquisition—so to speak. I’m talking, of course, about the big names: Facebook, Instagram, YouTube, etc. While some of that information isn’t publicly available, what we do know is that all these platforms include acquisition costs in their spreadsheets and budgets.

From what I’ve found, for a company like Facebook (Meta), the cost can be as low as $5 per user, but at times it can spike to $50. So for the sake of sharing my thoughts this morning, let’s keep in the back of our minds these rough numbers—even if they’re a little clumsy.

Now, I’m going to assume that if you’re reading this, it’s because you want to see Hive thrive. You want to know if there’s something else you can do—aside from making great content (which I’m sure you do)—to help our little world grow.

It might sound hyperbolic, but not to me: I’d even say we’re helping humanity here.

So now that you know all major platforms spend money to acquire users... isn’t the answer to that complex question a little more obvious?

How can you bring value to Hive?
How can you actually make a difference?

---

A Necessary Tangent

Just a few days ago, @talentlandfund released a detailed report on their event. To me, this experience was necessary—not just because of its onboarding success, but because it marked the first time anyone tried to get a number on a spreadsheet.

I fully encourage you to check out their report. In my opinion, it’s imperative we all get on the same page. I might as well tattoo this on my clipboard:

“It doesn’t matter if we have the best technology in the world, if there’s nobody there to use it.”

---

So What Now?

I think most Hiveans understand that these low Hive prices are temporary—and that greener candles are likely on the horizon. But to me, this realization leads to two important takeaways:

• Right now is the best time to build your position
• Right now is the best time to onboard more people

With those two thoughts in mind, let me propose that you can do both at the same time. Yes, I’ll be that bold.

The people who are invested in Hive—including me, of course—understand the value of onboarding. We’re willing to support good efforts that bring good people to Hive. We’re willing to help you grow your personal stake if you’re bringing real value here.

And what is that value I’m speaking of?
People.
I’m talking about people.

How we bring people in—well, that’s up to us. But I believe the best approach is the personal one.
Becoming a mentor.
Taking the time to not just show someone where to click, but how to interact, how to think long-term, how to see the value of working together.

My friend @ecoinstant said something I haven’t been able to shake:

“With a new onboard, the first post is easy.
The second one is a little harder.
But the third one is the hardest of all.”

There’s a lot of wisdom in those short lines.
It’s not enough to just create an account for someone.
It’s not enough to help them write a first post—believe me, I’ve done that.

The real challenge is turning them into Hiveans.
Getting them to see the potential.
Helping them understand why it’s in their own best interest to be part of Hive.

I don’t know how long that takes. And I realize it requires real commitment.
You’ll need to be available to answer questions.
To help when they get stuck.
To have patience.

But again—this is the cost I started talking about.
This is the cost of acquiring users.
This is how you can help yourself thrive, too.

So today, if you’re feeling a little down—like the sun is avoiding you—if you feel like you’re not earning enough tokens despite putting so much into your writing…

Feel invited to join me in this quest.

Let’s do something about it—not just write about how technical analysis says we should moon in two months.

Let’s make ourselves moon.

Let’s go out and onboard a few people.
Let’s stop playing the casino games.
Let’s invest in each other.

Consider this your call to action.

MenO