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Hubgarden Economics Part 2 – For Chief Editors

by DamienR
Hub (6)      Editor (5)      Chief Editor (5)      Transfer to Hub (3)      New Chief Editors (3)      Beginner (3)      Recruitment (2)      Money (2)      CPM (2)      Pool Funds (1)     
Starting Your Hub

Once you start writing for Hubgarden, it won’t be long before you start thinking about starting your own. It only makes sense, since you will make the full hub’s CPM plus, assuming you are the only Editor, the Editor CPM and the Chief Editor CPM.

Suitcase full of money
Everyone imagines a suitcase full of money coming to them when they start a hub, but it takes a lot of work to actually earn that suitcase. Photo: Pixabay.com

Here are some things to consider when thinking about creating a hub:

It takes dedication

When starting a hub, you likely won’t have many (or any) writers besides yourself. Be prepared to provide most, if not all, of the hub’s content. Once you have a large enough pool to offer awards, it is possible to attract some additional contributors.

Running your own Hub is a long-term plan

Gaining both readers and writers is a painfully slow, process at first. You will likely make very little money for the first six months to a year. But with dedication, you will gain a following and see success. This is a long-term game, and most people barely make it through the first innings of the season’s opening game; you want to make it to the playoffs and beyond.

Baseball player on the bench
You don't want your hub to get stuck on the sidelines. Photo: Pixabay.com

Once you have a pool to work with, you will need to make decisions on how that pool will be spent, and how it will be replenished.

CPM, Awards and Pool Funds

The biggest concern for a hub’s Chief Editor should be keeping writers writing. There are different strategies to do this, but the easiest and most popular is to offer awards. Awards come in many forms, which were outlined in Hubgarden Economics Part 1.

What you need to keep in mind as an editor is that the amount awarded comes out of your pool funds. Pool funds can be seen via the ‘My Hubs’ button, the clicking on the ‘Details’ button on the right of your hub’s name.

Suitcase full of money
editors set all award and CPM amounts

Pool funds are accrued through views. The default rate is $3 per thousand views, but this can be changed in the ‘Edit’ screen off of the My Hubs screen. A hub can request a domain name once it has reached fifty articles.

Pool Sustainability

Most newer hubs will not bring in enough traffic to sustain their pool at a $3 CPM rate. Depending on the award amount set by the Chief Editor, a pool can be depleted quite quickly. With no pool funds, there will be no awards. So how do you keep a healthy, sustainable pool? There are multiple ways to do this, and it will likely take a combination of these methods to really keep your pool going in the beginning.

Invest Your Own Earnings

Editors can invest their earnings at a minimum of $50 to any hub where they are a Chief Editor. This is done by clicking on the ‘transfer to Hub’ button. From there, you can choose which hub to transfer the funds to, but you cannot choose how much to transfer. The Hubgarden system automatically moves all your unpaid earnings into the pool you choose. A $50 investment can go a long way towards enticing new writers to contribute.

Contribute Articles/Questions Regularly

Just because you have a few writers submitting work doesn’t mean you get to slack off. Editors are not supposed to give themselves awards, but by continuing to submit your own work, you are providing content that will provide to the pool without taking award funds away. Since you are the Chief Editor, this is a win-win-win situation: you will gain the writer’s CPM for your articles, the editor’s CPM, and you will provide CPM earnings for your pool.

Lower the Writer’s CPM

Diverting some of the writer CPM to the hub’s pool is the easiest way to keep a pool afloat. It's not the most attractive way to do it, but if a hub has lots of content coming in, then diverting some of the writer’s CPM to the pool makes sense, and will provide more funds for awards.

Provide Small Awards

Providing small awards is a great way to keep awards flowing while not taking a huge dent out the available pool funds. This is a great option for hubs with large numbers of submissions, but a small amount of traffic per post. As the Chief Editor, you will also want to keep in mind the amount of work it takes to create a post for your particular hub.

For example, one of my hubs, Trailers and Teasers, offer $0.25 bronze awards, but it only takes five to ten minutes to write a post. With the small award and a CPM set at $10, it makes the hub worth submitting to. However, if I were offering only 25 cents as an award for a hub that only took full length articles, writers would be insulted at the paltry award being offered. I would not be able to bring in new writers. Keep this in mind, and find a balance between small award amounts and the workload per post.

Suitcase full of money
Editors can provide bronze, silver or gold awards, depending the type of award

Offer Larger Infrequent Awards

Another option is to offer larger awards, but only grant awards every-so-often. There are multiple ways to do this. Some editors set a word or character length, while others set a monthly theme, or run a competition. These are all great ways to boost submissions and provide great writer incentives, all the while keeping your pool afloat.

Growing a hub from the ground up is hard, but good pool management will keep new content coming in, which in turn will keep readers flowing.

#Chief Editor
#Transfer to Hub
#New Chief Editors
#Pool Funds
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