Abstract/Summary
The ShapeShift DAO’s MKBD Workstream is vital to maintain and grow to continue driving user and client adoption, discovery, and activation while retaining the core message of ShapeShift and its product and brand. With this workstream extending a broad swathe of responsibilities, including product copywriting, comarketing & partnership management, grants, external sales, and general “traditional” marketing responsibilities
This proposal will revise the responsibilities and target KPIs of the current workstream and request funding from August 1, 2023 through February 1st, 2024.
This proposal adopts SCP-92 Definition of Workstream Leader
Motivation
- The Marketing workstream has shown what it can do with a shoestring marketing budget:
February $37,655 (includes 247,000 FOX)
- March $18,370 (includes 197,000 FOX)
- April $18,370 (includes 204,000 FOX)
- May $18,370 (includes 155,000 FOX)
- June $18,370 (includes 165,000 FOX) + $4200 of (200) KK’s purchased for Merch store
- July $18,370 (includes 155,000 FOX)
Total prior labor, marketing, and overhead spend was $133,705 against an approved $129,505. The $4200 delta was made up from the rolled-over Marketing budget.
The proposed MKBD Workstream is focusing on improving on many KPIs that directly support the Product and Engineering roadmap as well as continuing to build the ShapeShift brand through:
- Driving meaningful revenue through app.shapeshift.com and API sales
- Growing and evolving KPIs alongside Product and Engineering as more information, data, and product features roll out
- Maintain the ShapeShift brand, communications, and ecosystem presence
Specification
Budget
The details below expand upon the budget spreadsheet
TLDR:
Fixed labor + tooling costs: net -3.86% from SCP-123
Bounty+ discretionary + unlockable spend increased 4.9% monthly
Recurring costs
Labor
- The budget includes two full-time positions, with Twells (Marketing Communications Lead) paid $53,500 and Hpayne (Workstream Lead) paid $72,000 combination of USDC and FOX over six months.
- The budget includes TBD unfilled Business Development assistant position(s) at a total cost of $13,500 over six months allocated for this spend. The DAO will unlock these funds once Twells and Hpayne close 3-5 API sales and optimize + validate the B2B sales flow to properly understand costs, ROI, and velocity to make this a profit center.
- Any contributor reserves the right to take any portion of salary in FOX and locked varieties thereof. Initial commitments from the workstream members entail Twells receiving 9% and Hpayne receiving 17% of their salaries in FOX monthly.
Tooling
In SCP-123, the Marketing Workstream paid service providers (such as SproutSocial, Blaze, and other social + marketing tools) monthly. In SCP-TBD, no additional tooling funding is requested.
Non-recurring costs
Miscellaneous/Contingency
The budget contains a line item for a monthly $1,500 USDC and $3,500 of FOX for discretionary and unforeseen spending for things such as: ShapeShift swag store products, bounties, graphic design, and other marketing initiatives that have entered into our mix一such as Postmint, user feedback surveys, and reward programs.
The line item above is provisional, and any unspent funds will be rolled over into the next proposal cycle to mitigate future budgetary asks.
This budget seeks approval for the commitment of a total of $9,000 USDC and $21,000 FOX for non-recurring costs to be spent judiciously at the workstream’s discretion, shall it be required.
Variance
Unused funds from any budget category will be kept in the workstream Colony and rolled over into the next proposal.
In the event that the Marketing Workstream requires more funds, a separate governance proposal shall be raised.
Deliverables
Goals
TLDR:
This marketing proposal was created with the spirit and intention of alignment and direct support of the Product workstream’s portfolio of bets. Auxiliary activations such as grants, social media, and content deliverables are maintained to ensure the wholistic narrative support around the ShapeShift DAO product suite with the overarching goal of driving $20,000 monthly revenue through the mix outlined below with a vision of $200,000 per month.
KPIs
Core KPI TLDR:
The MKBD Workstream is focusing on improving on many KPIs that directly support the Product and Engineering roadmap as well as continuing to build the ShapeShift brand.
View an extensive list of past and projecting KPIs here
Drawbacks
Marketing labor and spending has the potential to be the most elusive to quantify and qualify within the DAO’s budget which is why we outlined our goals, spend, and metrics while keeping in mind brevity. Any aspect of these goals and metrics and activations that does not seem appropriate to serve the greater needs and goals of the DAO should be questioned and outlined further so that there is a clear understanding from the beginning what is being worked on and delivered.
Benefits
Fundamentally, the DAO delivers a product to increase ease of use of the multi-chain multi-wallet multi-protocol universe that we find ourselves in. It is the MKBD effort that markets and sells our product while retaining voice and brand image. We need Marketing and Business Development in order to scale and proliferate the ShapeShift product. The goals and tasks listed above will be delivered and likely added on to as the term progresses.
Vote
For - Formalizes the community is “for” the details outlined in this proposal
For (With Changes) - Formalizes the community is “for” the details outlined in this proposal with specific amendments specified in the comments
Against - Formalizes the community is “against” the proposal