Should I keep working on this MVP? What do you think...
The current pitch goes like this:
Get likes and reposts for supporting a cause
https://palmtree.gives
The app currently works like this:
- You pledge $X to a cause and tweet about your pledge on twitter
- The app locks your pledge in a smart contract
- After a period of time, say one week, the smart contract awards your recipient a portion of your pledge based on how many retweets it gets, the remainder is returned to you
Some people like it, some aren't comfortable with ransoming donations for retweets, most don't get it at all!
So far I've run three "retweet campaigns" with mixed success.
What do you think, is there something here?
Any feedback, especially critical, is very appreciated =)
Thanks for the comments! ...yeah, I've been struggling with how to articulate an effective value prop for this.
"Is this a bit of buying attention but doing it while donating to charity?"
Yes, exactly. Donors, especially small donors, don't usually have much incentive outside of goodwill and tote bags. Palm Tree's solution is to add "attention" to that list ...attention for the donor as well as the cause.
The problem is that if I go on twitter and say "I'll give $1 to St Jude's for every retweet", I have relatively little clout on that platform. So why would a stranger trust that I'll hold up my end of the bargain in exchange for their retweet.
Palm Tree, in essence, adds a blue check mark to my tweet. By locking my pledge in a public smart contract, anyone can verify that a) I've committed real money, and b) that money can only go to the intended recipient given the rules of the reward. Palm Tree's primary role is as the administrator of the smart contract.
Idk, I feel like I can explain it with several paragraphs ...but not really in one sentence, let alone just 4 words :)
Was wondering, what did you mean by:
"Does a retweet cost so much?"
This system is a bit complicated as it has like 4 actors
Charity
Platform
Poster
Retwitter
You need mostly to explain it to the last two.
The Retwitter due, needs to both like the Charity, Trust the brand of the platform, Identify/agree/.. with the Poster's twitte to actually care to retwitte.
Possibly also agree with the value placed on his retwitte, now in a way this is going to be a linchpin thing, cause of psychology between social and capital actions...
For the Poster I was asking about the price, the example had like 2$..
If the Poster is really going it for business, he should be looking at how competitive is this path vs his other options to spend his marketing budget... I get it that you try to target it to a social aspect... this just makes it all more confusing...
Also paid promotional actions are usually less valuable in the people they attract...
The value/cost of a retwitte for a business, I'm guessing should be <0.01$.
And IDK if users would retwitte for that.
that's why I say this might be the linchpin issue...
Also you mention the platform should provide extra traffic for the poster somehow?
I wonder if you should change the $ thing into a less $ equivalent contribution... like lets say "for 10,000 retwitts we would donate a truck to the redcross" or something like...