Hive Business Marketing Strategy: Tipping
Holding staked Hive power could prove to be very valuable for businesses of tomorrow.
Just one way could be in 'tipping'.
Imagine I am a restaurant owner and want to get some reviews from my customers on their experience as a way of marketing my business. Rather than asking for a review (unlikely to succeed in most cases), I probably have to offer some sort of discount as an incentive.
Unfortunately, this strategy hurts my cashflow as it costs me.
But if I have a decent amount of staked Hive Power, I can upvote the review instead. This upvote could be enough in some cases to refund the entire cost of the meal!
And the best bit?
There is no cost outlay for me as the restaurant owner in applying this marketing strategy as the 'tip' comes out of the Hive reward pool. Not directly from my business's pocket.
Think of all the other businesses that could benefit from 'tipping' their customers in this way through the power of the Hive blockchain...
Photo by Alex Haney on Unsplash
Rewarding customers through Hive is a good idea and will help keep the business cash flow on the positive side.
This also give hive a boost and will drive more customers to want to get here and get their upvote tip too. Isn't that just great😉
I Would love to try that in the future too
!PIZZA
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@stevelivingston! I sent you a slice of $PIZZA on behalf of @marvinix.
Learn more about $PIZZA Token at hive.pizza (4/10)
Of course it is not free, you need to tie a shitload of money to be able to cover the cost of the meal with an upvote. BTW, do you need 10 paid reviews a day? Seriously, are you McDonalds or what? If not, your scheme just got less effective.
OTOH, you are going to have a lot of fun when the first DV appears. It does not have to be your competetitor's account. I could see a rental service for that once enough people in a restaurant have Hive accounts (because they are not going to sign up so that they can become a pro foodie influencer for half an hour). Anyone wants to be a partner in this service?
Sure, various Hive-related businesses such as games or investment funds are already doing this but there is a strong natural synergy present.
Tricky to cover the cost when the price of hive is 40c, less so if and when Hive hits $5... Seriously, any decent upvote for a review would be welcomed by customers I'm sure.
Yeah, I am assuming they already have Hive accounts. Who wouldn't ;) ?
Nope, the dollar cost is the same either way.
I know you know when to buy a token that 10x-es but obviously, you do not waste your time running restaurants with such a skill.
Haha, yeah, fair point