I’m curious to hear what other small pool operators experience of marketing has been.
In the 3 months we’ve been in operation we’ve tried:
- posting on twitter both as new posts, and in reply to others - 0 new delegators
- being helpful to others (blogs, replying on reddit/twitter) - 0 new delegators
- being a mission driven pool - 0 new delegators
- advertising on r/CardanoStakePools - 0 new delegators
- dropping out margins to 0 (from the already low 1.5) - 0 new delegators
While I wasn’t expecting a deluge of delegators and it has only been 3 months (and some of the above was for 1 month), but I was hoping to have had a couple through these efforts. Wondering what other small pool (<2m ada) experience has been like?
Yes, very recognizable. With so many new and great pools created the power to differentiate is very important. And I think also, persistence and patience. I am currently writing a blog about what I did the last 5 months. Will make a post here when it is finished.
Meanwhile you might want to join the xSPO group. A place for starting and small SPO’s with less than 1m ada staked to have fun and learn from each other:
A place for Extra Small Stake Pools to hangout, to learn and to have fun! - Staking & Delegation / Operate a Stake Pool - Cardano Forum
I realized the same issue at the very beginning based on some profitability cacluation which I did and decided to write an article to inform / educate potential SPOs before they start trying: Cardano Stakepool Operator Considerations
My strategy was to compensate the low ROA issue by running several campaigns which brought me up to 40 delegators. Hoping to overcome the hurdle to get over 3-5M to get sustainable on the long run. But it’s really not easy to jump on that train right now.
I also decided to rather proactively inform delegators about the reduced ROA with small pools and how we can deal with that. But there are lots of challenges. Especially Wallet rankings make it hard to be found. And wasting all money for ADs does not feel to be the right strategy on the long run as well.
Hope that real differentiators and transparent communication are at least helping to keep delegation!