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RE: You're not supposed to make money when promoting a post on Steam. The ROI is hidden and over many people's head.
Right on @swissclive and thank you for your comment.
As you said the top of the promoted page tends to be new ICOs.
One thing I forgot to mention in the post is that you can actually see how much each post on the promoted page was promoted with and then you will be able to tell how high up your post will show depending on how much you spend. So far in my month and half here the cost of being the very top promoted post has fluctuated between $180-$400....the more you spend, the higher you land on the promoted page.
If it means anything, your $37 promotion earned you at least one new follower. Since the long term future of Steem requires investing by advertisers, I tend to check out what is there from time to time if not just to see who the advertisers are. Without the promoted feed the Steem that is generated daily has less value.
Thanks for the follow @curtiscolwell! I too check out the promoted page to see is willing to pay for their content to be seen. Many times it is either something for sale that I don't want, or very high quality content. I think the Steem will think of other ways to raise money in the future even if it means adding some outside CPC/Google Adsense or something similar. I wouldn't mind a small amount of ads if it helped the platform sustain growth.
Thanks again for the follow and the comment!