Q4 2021 - Marketing + Growth Workstream Review
The Marketing + Growth Workstream was established on 9/15/2021, and has accomplished many things over the past 3 months. As we look to 2022 and the future of marketing and growth at the DAO - it is important to review what was accomplished in the first term of the workstream.
The intention of the workstream was laid out in the proposal put forward for vote - but what it boiled down to was:
Identify Contributors and Activate Them - The DAO is powerful because of its people, and this workstream intended to be “the most accessible workstream for the DAO. We envision a world where anyone can have an idea, propose it to the workstream, and if it’s valuable to the community - they’re empowered to execute and are paid.”
Reactivate, Manage, and Grow Satellite Channels - We hypothesized that getting the word out about ShapeShift DAO could be best accomplished with a diverse array of ways for community members to interact with the DAO, no matter where they wanted to interact.
Represent the ShapeShift DAO - Partnerships start with contacts, contributors start as discord chatters, and the process to differentiate the DAO from centralized ShapeShift needed a team to push all of that forward.
The workstream started with 3 full time contributors, a healthy budget to fulfill bounties, and a desire to tell the story of the ShapeShift DAO.
Goals from the Workstream Proposal:
The Marketing + Growth workstream outlined a number of goals in the proposal - here we’ll look at each one.
1. Creating a framework for community members to propose marketing initiatives in return for bounties paid in FOX
We am proud to say that we have accomplished that goal with vigor. In the first 3 months of our existence, the workstream has:
- Grown from 3 full time contributors to 6 - all of the new contributors started as bounty hunters and proved through their work that it would be of huge detriment to the DAO to lose them.
- Ron/PTT is streaming, recording, and posting content across Twitch, Theta.tv, and our Youtube channel.
- Arina writes content used for newsletters, medium articles, announcements, twitter threads, marketing campaigns, and manages a stable of bounty hunters that create content for the DAO.
- ETHan has absorbed all social channels he can get his hands on, and has reopened Reddit and Telegram as channels for FOXes to gather and create community.
- Completed bounty work with 20 contributors:
- Capitan8, graymachine, lunahawk, blackdogdavis, sh0x, rohekbenitez, James Katz, mkugi, drakeondigital, twells, and dapp.expert have all claimed graphic & video bounties
- SandyCheeks, Jpanam, thesmith, Mr. Bear, ETHan, FireB0mb, and Arina have all claimed writing bounties
- Honey_Bee claimed a marketing operations bounty
- Monstrosity and Seth claimed a partnerships & integration bounty
Founded and Funded LATAM Labs through a partnership with @thesmith
- This launch was supported with numerous FOX Token airdrops, Tip.cc outreach, and funding from the M+G Workstream bounty budget.
2. Activating ShapeShift Users through Email, Social Media Management, and Community Building.
Email was proposed as a part of the workstream due to its historical success in activating users with beta.shapeshift.com accounts - due to GDPR concerns, this channel has remained in possession of centralized ShapeShift, and may remain there indefinitely. We were able to utilize the channel four times - notably to inform current account holders of rewards programs ending, and supporting the Olympus Bonds launch.
Social Media Management has been accomplished. When we first decentralized, our use of social media and community tools was limited to Twitter. Reddit and Telegram existed - with Telegram set to no posts and Reddit used sparingly for announcements and responding to support requests. Both of these channels have been reopened and actively managed, alongside others - which brings our current footprint to:
As well as international channels such as:
Due to numerous reasons, we have delayed the launch of these final three channels - but we intend to have those live as soon as feasible: Theta.tv, Facebook, and Instagram.
Community Building has also been a huge accomplishment from the Workstream. Our team has been a part of and supported numerous activities related to partnerships, AMA’s, Trivia, Community Tipping and more.
Marketing Campaigns or Support provided for:
- Olympus Bonds
- Elk Finance
- Coinbase & Coinbase Pro
- Colony Mission Control
- Crypto Royale - 3 Gaming Tournaments Sponsored
- 1hive Trivia
- Wolves of All Streets
- DJEvil’s Weekly Music Sessions
- ShapeShift Branded Stickers
Community Building through Tip.cc:
- Chico Crypto
- Bankless DAO Brazil
- Olympus DAO Brazil
- Representing the ShapeShift DAO publicly, attracting users and talent to the DAO in order to increase its operational capacity.
Through press releases, AMA’s, partnership involvement, and tip.cc - we accomplished this mission. We released two press releases (one ended up in Times Square), and grew our team by attracting users and talent to the DAO!
- Grow our Twitter follower count by 5% per month
While we did grow our averages for impressions (39%), retweets (130%), and likes (71%) - but our follower count increased by an average of 1.11% per month - which is falling short of our goal.
We have tweeted more, and utilizing the tip.cc channel within Discord has been a fantastic way to boost likes and retweets (248% increase!).
However, engagement rate is down, link clicks lag behind the rate of publishing, and followers also have been largely stagnant. This will be looked into more, for sure .
- Establish satellite communities across the web, such as on Reddit, with the goal of growing those communities by 7.5% month over month, and always providing a pipeline to the ShapeShift forums and discord.
On November 22nd, we began opening up communities across the web. We haven’t had enough data to show a trend yet - but early results are good. Each community we have established is now being actively managed. Content from the Discord and it’s contributors is being shared across these channels, sparking conversation and being nurtured by DAO contributors. Currently, we’re seeing an increase of 20% engagement month over month.
- To provide to the community overall metrics tracking important ShapeShift DAO growth.
This proved to be a large hurdle for the workstream, and it remains an ongoing project. To start, let’s look at what we have:
- This spreadsheet is a document we used to track things that centralized ShapeShift KPI’s.
It’s odd to look back at these numbers, because they truly are a view into our legacy and from another time. The future of ShapeShift is KYCless, Accountless, Permissionless, and streamlined - however, that future is not yet here.
Across the board, we are seeing platform metrics via beta.shapeshift.com decrease. Interestingly, however, our mobile app has seen growth.
In the middle of August 2021, we shut down all paid advertising - and thus established a new baseline. Since then, the number of new wallets created on our mobile app has increased at an average of 9% per month.
This is incredibly encouraging! Without paid advertising, and with completely DAO-sourced marketing, we are growing our mobile application.
- This spreadsheet is a document we’re using to track the growth of community channels we are creating and opening.
Universally, we are growing each channel we reopen pretty drastically. This is expected at the beginning, and we are excited to establish a baseline and meet growth goals.
- Create a framework for tracking AIO and TLV in this DAO world, and showing that AIO taking advantage of product offerings - including, but not limited to LP’ing, Yield Farming, etc.
This project is dependent on v2 and other initiatives - and we look forward to continuing this effort more in 2022.
Spending & Finances:
The workstream is on pace to come in under budget! We expect to send roughly $45,000+ back to the treasury, as promised in the original proposal. It was important to assure the token holders that the workstream’s budget would not balloon, and every FOX was accounted for.
What About the Future?
There is so much work to do, and there has been fantastic efforts made in many directions. Contributors to the workstream have come together and decided that the most efficient way to grow the DAO is for the Marketing + Growth Workstream to split into two discreet efforts.
Marketing, which includes myself, Arina, ETHan, and Ron/PTT - focusing on collaborating with the Product Team in order to make current and new users aware of what ShapeShift’s product offerings. Ultimately, we aim to acquire and activate new and existing users towards revenue-generating points for the DAO.
The Growth & Globalization workstream is focusing on Partnerships and Conferences, while absorbing the Info & Globalization workstream - at the request and blessing of @LPX. They’re also expanding on the education component alongside JessOtterlyHopeful, David, and Seth.
By creating two workstreams, Marketing focusing on becoming a machine that focuses on strategizing, developing, executing, and tracking marketing initiatives for the DAO - and Growth & Globalization continuing the momentum the first term generated, we believe the DAO will be stronger.