Proposal to fund the Marketing + Growth Workstream through December 2021

***THIS IS THE OLD PROPOSAL, NEW PROPOSAL IS FURTHER DOWN IN THE THREAD, AND WILL BE POSTED TO THE FORUMS FOR IDEATION. ***

Hello!

Getting the Marketing + Growth Workstream funded will allow the team, and ultimately contributors to get involved with growing the DAO as soon as possible. This is a proposal to fund the Marketing + Growth Workstream’s anticipated budget until December 2021. For the proposal to establish the workstream, see here.

Here is the link for the Marketing + Growth Workstream Kickoff call on 8/18/2021.

Here are the slides from the kickoff call.

Requested Funding:

$307,288

Budget:

The budget is designed with these flexibilities in mind:

  1. Any unused funds at the end of the 4 month timeframe can either be returned to the DAO or rolled over into a subsequent funding proposal.

  2. This workstream intends to benefit from a global talent pool. Current best thinking is that we should hire the most talented individual for every role. Someone in Barcelona could be just as qualified to perform Email Marketing as someone in California, and may cost half the price - which would ultimately make more funding available to the larger DAO community to accomplish projects. This is expressed by grouping all salaries into a bucket instead of by role, every applicant for a full time position can propose a salary that they feel is fair for their contributions.

  3. Any unused funding earmarked for salary will be rolled over into the bounty pool, and available for the community to propose projects against. Then, the funding follows rule #1 above.

Once established, the marketing + growth workstream will seek to hire four full-time contributors:

  • Workstream Leader
  • Growth + Analytics Manager
  • Social Media Manager / Copywriter
  • Email Marketing Manager

Stay tuned for job descriptions and more information on how to apply.

I’m applying for the workstream leader role, and if elected, the first priority will be to fill the remaining three positions. This will allow the marketing workstream to continue current marketing efforts that have proved successful with Email, Social Media Management, Content Creation, and Programmatic Advertising

The workstream is also requesting a $20,725/month budget explicitly for testing, and making funds public for DAO Members to propose work and get paid for their efforts.

Next Steps

Please let us know if you have any feedback on the mission, goals, KPIs, roles, or budget for the Product Workstream.

If feedback is positive, my plan is to take this to the Ideation phase on Sunday, August 22nd, so we can fund the workstream before September 1st.

***THIS IS THE OLD PROPOSAL, NEW PROPOSAL IS FURTHER DOWN IN THE THREAD, AND WILL BE POSTED TO THE FORUMS FOR IDEATION. ***

3 Likes

100% support from me on all specs., lets get this pushed along so we can avoid the problem that MakerDAO is experiencing related to not having a marketing team in place and funded.

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“The workstream is also requesting a $23,225/month budget explicitly for testing, and making funds public for DAO Members to propose work and get paid for their efforts.”

This confuses me… it’s not shown in the spreadsheet budget above. Can you clarify?

Great question @Beorn that line was a typo, which has been edited properly.

The line items are in purple, at the bottom of the table!

This is still too vague imo - in the sheet you have a line item for $250/mo for testing, but in the message body you have “requesting a $20,725/mo budget explitly for testing, and making funds public for DAO members…”

Can you break that into descriptions of the specific line items for which you’re requesting funding?

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Regarding Autopilot - this is a huge monthly line item. I know it’s used in centralized ShapeShift, but if it’s going to continue to be used, please describe what it is, why it’s worth $6k per month and what alternatives would be.

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As per feedback, here are some clarifications on budget, and line items.

  1. The green section, for full time contributor salaries, are meant to fund the following full time contributors - if we can find the talent willing to fill the positions:
  • Workstream Leader
  • Growth + Analytics Manager
  • Social Media Manager / Copywriter
  • Email Marketing Manager

The workstream leader’s salary will be the same as all other workstream leaders, and the rest are left nebulous due to wanting to keep the salaries flexible in order to find the best talent at the cheapest rate for the DAO. This makes more of the requested funding available for community bounties for discrete marketing tasks. I can see the value in saying “almost all of the work should be community driven”, and thus accepting that current marketing efforts will end. This would make the funding request cheaper, as well as significantly reduce results and growth velocity.

  1. The Software section is almost entirely built to support the current marketing efforts that we had hoped to continue in the DAO. This is to keep a minimum viable growth engine running - keeping only the channels shown to be exceptionally effective both in engagement and CAC. However, it does come with a couple of caveats:

    • It requires that we find talent willing to step into the roles full time, inherit our current systems (which have had processes written out by the centralized team) and continue pushing them forward. As of now (8/27/2021) we have had some interest in the growth and marketing workstream but no one expressing interest to fill these roles.

    • It requires infrastructure, which would need to be funded, and not with FOX Tokens - these systems all require a credit card. As mentioned by some comments, some of the tech stack is expensive. Autopilot is the current email system we are using in centralized shapeshift, with over 1.5 million email addresses. The cost may be able to decrease slightly, but due to the raw number of email addresses, any CMS with email and user flow capabilities for smart sending will end up in that general ballpark. If a switch is desired, migrating from one system to another and then rebuilding all existing logic (which supports onboarding, support, product features, etc) would set back any productivity by days, if not weeks or months, as the migration happens.

Essentially, we can find the talent and push this forward - either by having DAO members self select and apply or by doing external recruiting, or blow it up either due to not wanting to fund it or not able to fund it with a credit card. I don’t see a good third option, but am open to having my mind changed.

  1. Public funds are to serve two purposes - first is the functions described in the line items, and second is to be the overflow bucket that unused full time salary goes. All funds then return to the DAO after the 2021 funding period or is rolled into the next funding proposal.
  • Monthly Team Event - this is to allow the Marketing & Growth workstream to put together a team event to gather and relax, talk shop, and prep for the next month’s hustle.
  • Monthly Test Funds - this is for product testing new features. In order to strategize a marketing message, I want at minimum all full time members of the workstream to test all new products.
  • Workstream Gas Costs - to support the above.
  • Programmatic Marketing Budget - This is to maintain the most effective, crypto specific exchanges that can show direct response ads for the DAO. These do accept crypto, and show good returns on investment.
  • Bounties / Misc Contributor Rewards - this is the bucket that is pulled from to support community requests, discrete task bounties, and catch the overflow from salaries. I can see an argument for this growing if we want to crowdsource most things.
2 Likes

If we want to justify the spend based on this argument, we need to see the specific channels and their CAC. The community needs to know numbers here. How much is being spent per month? And what is the result in a specific metric/s?

Hello!

Getting the Marketing + Growth Workstream funded will allow the team, and ultimately contributors to get involved with growing the DAO as soon as possible. This is a proposal to fund the Marketing + Growth Workstream’s anticipated budget until December 2021. For the proposal to establish the workstream, see here.

Here is the link for the Marketing + Growth Workstream Kickoff call on 8/18/2021.

Here are the slides from the kickoff call. Please note that the structure has changed significantly due to DAO suggestions - please read the first link for details. The DAO works.


Requested Funding:

$242,092


Budget:

The budget is designed with these conditions in mind:

  1. Any unused funds at the end of the 4 month timeframe will be returned to the DAO with a report released to the community that details where all funds were sent and spent. No funding will be rolled over into the subsequent 4 month marketing period, so that the risk to the DAO of a budget ballooning is mitigated completely. There is now essentially no risk to funding the M+G Workstream, as any unused funds will be promptly returned to the DAO and funding reapplied for.

  2. This workstream intends to benefit from a global talent pool. Current best thinking is that we should hire the most talented individual for every role. Someone in Barcelona could be just as qualified to perform Email Marketing as someone in California, and may cost half the price - which would ultimately make more funding available to the larger DAO community to accomplish projects. This is expressed by grouping all salaries into a bucket instead of by role, every applicant for a full time position can propose a salary that they feel is fair for their contributions. This also represents the MAX CAP for full time salaries. No salary that would push the total figure above the $33,417 requested will be accepted without an amended request to the DAO.

The M+G Workstream will not artificially inflate any salary to utilize the full budget.

  1. Any unused funding earmarked for salary will be rolled over into the bounty pool, and available for the community to propose projects against. The intent is to move as much funding into the Bounties / DAO Contributor Rewards line item. Then, the funding follows rule #1 above.

  2. A note that @huntthewick asked me to pass on. He feels uncomfortable accepting 2 salaried positions, and thus he will be renouncing his previous funding granted by the CMod workstream, and his salary will be fully paid out of the M+G Workstream. He will continue to work his CMod function alongside @giantkin for an indeterminate amount of time, since his responsibilities overlap nicely with CMod responsibilities.

  3. The previous proposal by @huntthewick to fund Community Structure / Support will be absorbed by this workstream. It will not move to voting, and those tasks will be completed in this workstream. Check it out here for details.

Once established, the marketing + growth workstream will have three full time contributors:

  • Workstream Leader - @PeteCoin
  • Community Growth Manager - @huntthewick
  • Email Marketing / Copywriter - Open Position

Job description for the open role to be released shortly after the workstream is voted on and accepted, as well as funded.


Reasoning: Why is this structure being proposed?

First, check out this post.

Second, here is the dataset that was used by centralized ShapeShift, and will continue being used until a new/better system is developed.

Essentially, I reviewed the data in the second link with a goal of: “How can we continue to maintain channels that showed strong metrics previously, that also fit into a DAO structure?”

This structure is defined as: 1) can be paid for in crypto 2) recognizes the value of the ShapeShift brand and leverages it for the benefit of the DAO - and by maintaining that leverage may grow the brand. 3) is inherently collaborative, human driven, and lends itself to the philosophy described in link one. (Product-led growth, AIO/TLV focus, community growth and empowerment, being the SSO for all web3 defi and deliver mutually beneficial yield opportunities to our users)

The channels that stood out, that met the above criteria are:

  • Social Media Marketing
  • Community / Affiliate / Referral Marketing
  • Email Marketing, with a focus on user retention / activation
  • PR - which @lindsaylou is crushing and will continue to crush for months to come.

Furthermore, its clear to me that Product-Led is the correct path, because the data shows extremely strong correlation, if not outright statistical significance, when we track results to product launches.

See for yourself in the link above regarding dataset.

  • July 2021: we launch the DAO, we have the most MAU ever recorded since I started. Once the hype begins to taper, metrics go right back to baselines.
  • January 2021: we integrate 0x and other DEX aggregators into the app, second highest MAU ever recoded. Taper back to baseline in the 3 months afterward.
  • July/August 2020: we launch the ShapeShift Mobile App, and make self custody f*cking easy. MAU pops and follows the trend to baseline.

I believe that being product-led, and continuing to tell the storyt of how ShapeShift is a DAO that is actually accomplishing a ton of work, and the community is a huge part of that is going to be a key factor to continued success.


Next Steps

Please reach out to @PeteCoin or @huntthewick with applications for the open role. Also, if there are any Reddit or bot wizards that would like to help collaborate on the process that we need to design for community submitted proposals for M+G (seen here) please reach out ASAP!

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PMing regarding Reddit.

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oh we gunna be talking. bet on it.

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A well writen and thought out proposal, thank you for updating and providing relavent links and correlatable data.

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Thanks @PeteCoin for such great detailed proposal and outline of the budget.

I definitely support this Workstream and funding of this budget moving forward.

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PITCHING MYSELF FOR A ROLE:

I wanted to get feedback from the community around the idea of throwing myself into the marketing/ growth workstream!

For those who don’t know me, I was the Director of Growth with the centralized ShapeShift company for nearly two years. I have been so fortunate to work with some of the most talented pioneers in their fields, and I’ve learned and grown so much from it. I also really liked to involve myself on Twitter and in this Discord community, so there’s a chance we’ve interacted before. The role I am proposing doesn’t have a created title (yet), but that’s kind of the idea. With a centralized ShapeShift, I had specialists on my team doing all sorts of necessary responsibilities. Now I’d like to distill the essence of all of these amazing people into what I think of as a do-everything role. Instead of holding a traditional Director position like I have been at centralized ShapeShift, I want to propose a more abstract, get messy position. I want to try and maintain the momentum I previously established with our centralized efforts and start some new ones, like through mail campaign building, sync for product marketing, helping @huntthewick social, building new high volume growth funnels, etc.

Years ago at smaller and centralized ShapeShift, we had a great team member (Cam) who was a “do it all” on the marketing team, and he did anything and everything that was needed. This is how I see myself performing this proposed role. At centralized ShapeShift I had a knack for the ability to see the future landscape of customer needs and product launches, and my acute understanding of the community would make me so great for this role.
I would be requesting a budget similar to that of a PM role on the product stream. I would be held by the stream to meet massive goals for MAU and new user adoption.

At the end of the day this is up to the community and the workstream leader (who has been crushing it @PeteCoin) but I wanted to get any thoughts/ comments about what I am proposing/ or the idea of me joining the stream.

  • Yes - Lets add this to the stream and budget
  • No - Lets not add this to the stream or change the budget

0 voters

4 Likes

Whooo - would love to see you join this Workstream @Toasty - I know you can do so much and I like the idea of a role that can do many things at once (probably needs a bit more definition than that but I think I get what you are going for).

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welcome back to the dark side @Toasty! was hoping you’d make the right decision :wink: once you go full DAO you can never go back to the corporate world.

I support this addition, even though it will add to the budget and I know @PeteCoin is being really thoughtful about minimizing the budget and making sure this workstream underpromises and overdelivers. I’m pretty confident that the value you can add to the DAO’s bottom line will easily justify the added cost though. Just promise me the memes will be :fire:

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Supported that! Dank memes and hacking things together, you are going to crush that.

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Oh man, I hope this isn’t a tease :grinning:

Come on in @Toasty, the water is, well, toasty :laughing:

Seriously, I know if we had you in and collabing with us and @PeteCoin we would all be stronger for it, and our product and reach would be better. I support this :100:.

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I agree, to dive into some more detail so that JD could be made. In this position I would be tackling some of the roles initially proposed in the kickoff slides and what some of the bounty tasks would have been. This would include:

  • PLG: Driving the connection for product lead growth by being a bridge to product for cross marketing collaboration/ product changes & testing
  • Growth Marketing: Create and execute data-driven growth marketing strategies for new user acquisition and MAU
  • Affiliate Marketing: Handle and grow the relationships between ShapeShift and its partnerships
  • Email Marketing: Lead the planning, developing, implementing and maintaining ShapeShift’s email strategy
  • Campaign Development: Build and develop high performing low cost channels
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@PeteCoin tagging so you see my response. This would be a full time role and I am pitching a similar budget to the PM on the product stream at a monthly rate of $13104.00. Between my demonstrated growth and growth hacking metrics at centralized ShapeShift (posted in the proposal by Pete above), my over decade of experience in digital marketing, & my desire to make the DAO as successful as I can through explosive new member growth & MAU.
My breadth of knowledge and understanding of a position like this, would also minimize the requirement for some of the additional bounties set aside in the budget.

3 Likes