Proposing the Marketing & Growth Workstream

THIS IS THE OLD PROPOSAL, NEW PROPOSAL IS FURTHER DOWN IN THE THREAD

Why should people use this workstream? What is it for?

The Marketing + Growth Workstream has the initial goals of:

  1. Proposing and executing marketing campaigns that support product launches, partnership agreements, and project integrations.
  2. Activating new ShapeShift users by introducing them to our full product suite.
  3. Representing the ShapeShift DAO publicly, attracting users and talent to the DAO in order to increase its operational capacity.
  4. Retaining current ShapeShift users through promotions, giveaways, value adds, etc.
  5. Ensuring all “DAO Official” communication retains brand integrity, voice, and authority.
  6. Fund the hiring of four full-time roles, in order to maintain the marketing efficacy of ShapeShift

Are you applying to lead this workstream?

Hi, my name is @petecoin, and I am applying to be the leader of the Marketing + Growth Workstream.

How exactly is this different than the other categories we already have?

Currently, all marketing proposals are for discreet, one off projects. This workstream will serve as a foundation of support for those one off efforts as needed, as well as functioning as the baseline marketing organization that the DAO can rely on to grow.

What is the mission of this workstream?

To attract, activate, and retain users & creators to the ShapeShift DAO & associated product offerings.

What are the goals of this workstream?

  1. Increase in MAU across all ShapeShift products
  2. Penetration of new DeFi projects, markets, regions
  3. Increase in community size & engagement on all public channels
  4. The KPIs in each campaign effort are tracked and reported to the community
  5. Increase in AIO & asset TLV

What metrics can this workstream’s success be measured against?

  • Monthly Active Users
  • Cost per Acquired User
  • User Activation Rate
  • User Retention Rate

What should topics in this category generally contain?

  • Growth and Marketing
  • One-off and Ongoing Promotions
  • Community Building & Management

Do we need this category? Can we merge with another category, or subcategory?

Yes, and I don’t think it can merge with another.

Will your workstream hold recurring meetings?

Yes, there will be a weekly internal standup required for full time members, and part time members are encouraged to attend. Also, there will be a bi-weekly public meeting for the DAO at large.

THIS IS THE OLD PROPOSAL, NEW PROPOSAL IS FURTHER DOWN IN THE THREAD

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Awesome, very supportive of the creation of this Workstream and love seeing you throw your hat into the ring to be the initial Workstream leader @PeteCoin !

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Also love this workstream, and appreciate all of the responsibility the contributors/leaders are about to take-on with this during this early growth stage. I think it goes without saying, I support this moving as quickly as possible into further steps with the proposed leader.

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I’d like more thorough and specific goals. “Increase in MAU across all ShapeShift projects” is too vague. What avg MAU level exists, and what target will the growth team attempt to hit? To assess the success of the workstream over time, goals need to be falsifiable.

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I’d love to be a case study example for definitive functionality of the workstream leader in being a point-person for funding. I believe that allocating pete with funds via a proposal (for specific projects that I have in mind) will enable him to function in a way that ensures he is providing critical infrastructure (thinking checks and balances here) in a way that any workstream leader should. I specifically need him in place simply to be the eyes on my marketing budget in regards to safety checking my logic, deployment, and of course payment. I think that increasing user activity/growth is a give-in, and any projects that I allocate funds to pete for will have a definitive plan laid out during the proposal process describing why/how I plan to accomplish xyz.

edit: In further thought, I also believe pete will be the ‘most actively’ cross-functioning workstream leader in place. With various projects coming to him for insight/consultation/whatever. This sort of provides that it is really hard for him to estimate specific projected/goal user activity without throwing up projections with unlimited variables imo.

Thanks as always @Beorn

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After a lot of thinking, I think that more thorough and specific goals are impossible to detail.

Put simply, we are stepping back from a lot of efforts the centralized ShapeShift team did to support growth - including, but not limited to:

  1. A $40,000 per month programmatic budget, spread across 10 different platforms, managed by internal team members and external contractors.
  2. Email marketing at the rate of 2-4 emails per week, each to specific user cohorts showing product fit activities.
  3. Social media management in support of PR, interviews, and community engagement.
  4. Landing page optimization including A/B split testing.
  5. Merchandise creation and distribution for promotions.
  6. Other promotions including crypto giveaways, NFT creation, art competitions, etc.

None of this is currently continuing, and the DAO is looking for talent to join the M+G Workstream in order to tackle the above and so much more.

Thus, the only thing that can be done is that the M+G Workstream needs to attract talent, evaluate what capabilities that talent has, and begin to mobilize. Then new growth baselines need to be set. After that, more specific goals could be extrapolated, but could also continue to be difficult due to the need to fund efforts through crypto, limiting our ability to tap into more consistent and battle-tested growth mechanisms.

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@PeteCoin I hear your point, but I can’t accept that “more thorough and specific goals are impossible to detail.”

Anyone, especially a workstream leader, receiving substantial money from the DAO will need to be judged on their performance with those resources. What should the performance be judged against? It has to be goals, and the goals should be falsifiable.

Without this discipline, the DAO will spend resources without accountability. The workstream leaders need to demonstrate not only that they are accountable, but that they are the supreme champions of accountability, enforcing it into the culture. That’s why they deserve to be in charge, and that’s why they deserve funding from the DAO.

To avoid criticism without a suggested alternative, here is what I’d suggest as a possible modification to the goals you presented:

  1. Increase in MAU for the ShapeShift platform+mobile app, above the recent 3-month baseline average of X MAU (need to fill in X based on SS’s actual numbers)

  2. Increase in community size & engagement on all public channels as measured by X metric (need to specific why metric/s)

  3. The KPIs in each campaign effort are tracked and reported to the community (leaving as-is)

  4. Increase in AIO from baseline of X (again, establish X)

Does this help?

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I’d like to add verifiables:

  • Specify completed collaborative efforts (example: the 10k USD in FOX allocated to LPX) and further detail results/data relevant

  • Determine less-than sustainable activities within marketing efforts within ‘special project’ or collaborative (cross workstream) efforts that include the use of funds allocated to marketing

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I’ve taken time to read more of the forums, and do a lot more thinking before replying in this thread. I’d like to propose a different approach to this workstream, and provide reasoning for doing so. I’d like to assume this is what this DAO process is all about - because I’ve found it stimulating, emotional, and difficult - which I can only hope strengthens the DAO as much as it has strengthened me.

This is going to be 2 parts - this first part of my reasoning, and the second is revising the current proposals for establishing and funding the M+G Workstream.

Lets get started.


This discussion is important. I’ve absorbed the spirited debate on this topic, and find myself empathizing with both sides. My current best thinking is that I’d like to see the M+G Workstream be exceptionally accessible for all DAO users, and with the DAO users doing most of the work. This allows for the M+G Workstream to demonstrate frugality and minimization of the risks expressed by @Beorn in that thread.

If we are to look at any workstream’s economics comprehensively, it seems prudent to consider what I am calling the workstream’s “total sell pressure on FOX supply.” This is a new way of thinking about a common problem for any business: does the business receive a return on the investment it makes? Without digging too deep at this time, I think a general idea can be inferred:

The more salary that needs to be converted to fiat, the more total sell pressure on FOX that workstream will exert.

PLEASE NOTE This doesn’t mean that bigger salary = bad. I can see a valid argument for someone being paid exceptionally well, but not planning to convert any salary to fiat having a value of 0 in this metric.

How will the M+G Workstream attempt to mitigate this?

In two ways:

First, by reducing the amount of full time contributors in the workstream, and rely on the DAO community at large to be excited by bounties and participate more fully in the growth of ShapeShift DAO.

Second, by returning to the DAO at the end of every funding period, two items. 1) a report detailing where all funds were sent and spent. 2) all unused funding, not to be rolled over into the next funding 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.

If this workstream can break down objectives into discrete tasks, and source those with fair FOX bounty rewards - we distribute more FOX which increases the sense of ownership and voting power of the community. Also, it recognizes the “seed corn” drain mentioned in the linked thread above, and by spreading FOX around more, it obviously ends up in more hands. Some will need to convert to some or all of the received tokens to fiat (me included), but many will be content leaving it as crypto - maybe even LP’ing.

I believe this is one way to reduce that sell pressure metric. This may ultimately fail for many reasons, but it seems worth a test at least. I would love a forum thread on this topic alone, as one possible solution to the problem is to make accessible more Yield Farming programs with FOX, so those compensated can delay the liquidation of the asset by generating yield. More delay = less sell pressure, etc.

Feel differently? Create a thread, tag me, get the discussion started, and let me know.

  • Marketing and Growth in the New DAO Environment

When I first proposed the workstream, my intention was to continue the efforts of the previous centralized team. Gun to my head, I don’t really know why other than it seemed the right thing to do. This was a failure on my part to think differently in this new DAO world.

After spending far more time in my head, my thoughts have shifted. My opinion is that we should be focusing on these things:

  1. Finding, creating, and chasing revenue opportunities for the DAO. This is most attainable by focusing on AIO and offering yield generating opportunities for our users. A revenue modelling project was completed at centralized ShapeShift which showed that potential revenues from this strategy are significant and sustainable. This really isn’t a task that M+G can accomplish on its own, but if the Product and Engineering workstreams can champion this approach, it would be a force multiplier for the M+G Workstream.
  2. Focus less on an “inbound marketing” growth strategy, and focus more on an activation growth strategy.
  3. Tell the story of the DAO, and how it is creating this or that. Showing that we have an active community to come join and contribute to.
  4. Focus highly on a Product-Led Growth model.

If we were to take an approach of opening up our systems to any and all wallets possible, and then provide yield generating opportunities for users, our growth strategy is clear. Users are attracted and easily retained by not asking them to switch wallets or import seed phrases, and we solve the fractured nature of yield farming by becoming essentially a SSO for web3 defi. All the while, we’re generating revenues for the DAO, and M+G is focused on activating users into those mutually beneficial relationships through email, social media, and community engagement. The user sees number go up, we see revenues go up, we all win.

Thus, I am going to rework the proposal that started this thread to reflect these new ideas, as well as rework the funding proposal. I’d love to see feedback on this thread and look for those updated ideas tomorrow.

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Hey @PeteCoin - I think your thoughts make sense here, and I appreciate you re-working things based on feedback.

I do think the M + G workstream will probably still need at least a few full time roles to get things rolling, but maybe not as many originally envisioned, I like the idea of thinking about this fresh from a DAO perspective and the workstream having a bigger bounty budget at first to incentivize the community working on behalf of the DAO on all sorts of various projects.

I have some questions, but those will likely be answered when you post your more fleshed out and re-worked proposal, I look forward to reviewing that soon!

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Why should people use this workstream? What is it for?

The Marketing + Growth Workstream has set these goals for the first 4 months of it’s existance:

  1. Creating a framework for community members to propose marketing initiatives in return for bounties paid in FOX
  2. Activating ShapeShift Users through Email, Social Media Management, and Community Building.
  3. Representing the ShapeShift DAO publicly, attracting users and talent to the DAO in order to increase its operational capacity.
  4. Engaging current ShapeShift users through promotions, giveaways, value adds, etc.
  5. Continue storytelling product releases, as they have shown to be the most effective growth catalysts.

Are you applying to lead this workstream?

Hi, my name is @petecoin, and I am applying to be the leader of the Marketing + Growth Workstream.


How exactly is this different than the other categories we already have?

This workstream is 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.

That’s an oversimplification of a large process that still needs to be designed and implemented, but it will be the first major goal of this workstream - alongside maintaining our social presence and establishing / growing satellite communities, and hiring contributors.

You may have questions - what does this really mean? What does it look like? Could you show us your graphic design qualifications?

The answers are simple: 1) we’re going to collaborate with you all to design it. 2+3) avert your eyes if you’re an art snob:

Link if that glorious MS Paint monstrosity displays poorly on this forum.


What is the mission of this workstream?

To tell the story of the ShapeShift DAO, and use that catalyst to grow. To empower users to propose and execute beneficial marketing and growth efforts for the DAO and be compensated for it.


What are the goals of this workstream?

  1. Grow our Twitter follower count by 5% per month
  2. 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.
  3. Create a system where users can propose marketing efforts, have those proposals vetted, track those efforts, and pay the contributors.
  4. To provide to the community overall metrics tracking important ShapeShift DAO growth. Including, but not limited to this spreadsheet.
  5. 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.

What metrics can this workstream’s success be measured against?

  • Did a DAO Marketing Proposal Process get created?
  • Did we grow community / follower count?
  • How many marketing proposals were accepted, funded, executed, tracked, and reported back to the DAO?
  • Are we focused on the right growth metrics for ShapeShift? Did those metrics improve?

These success metrics need to be further defined by the workstream, and the DAO at large. We look forward to collaborating to complete that process.

Initially, the M+G Workstream’s current best thinking is that we would like to align our efforts and ultimately our tracked metrics to this philosophy:

“If we were to take an approach of opening up our systems to any and all wallets possible, and then provide yield generating opportunities for users, our growth strategy is clear. Users are attracted and easily retained by not asking them to switch wallets or import seed phrases, and we solve the fractured nature of yield farming by becoming essentially a SSO for web3 defi. All the while, we’re generating revenues for the DAO, and M+G is focused on activating users into those mutually beneficial relationships through email, social media, and community engagement. The user sees number go up, we see revenues go up, we all win.”

This would result in tracking, at minimum:

  • Wallets Connected
  • Assets in Orbit (AIO)
  • Total Locked Value of those assets (TLV)
  • Rate of activation to those yield generating opportunities
  • Revenue generated for the DAO

What should topics in this category generally contain?

  • Growth and Marketing
  • One-off and Ongoing Promotions
  • Community Building & Management

Do we need this category? Can we merge with another category, or subcategory?

Yes, and I don’t think it can merge with another. However, if another workstream desires a partnership with this one, and feels that M+G can provide material benefit to them, we are happy to help.


Will your workstream hold recurring meetings?

Yes, there will be a weekly internal standup required for full time members, and part time members are encouraged to attend. Also, there will be a bi-weekly public meeting for the DAO at large.

This is subject to change - I could easily see a weekly brainstorm meeting for the DAO at large. Where DAO members can come and pitch ideas, we all sharpen those ideas, and then look to execute them.

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@PeteCoin love this new formulation of this workstream, are you planning to post a budget to go along with this as well?

on its way! ~1 hr approx before it’s live. I’ll tag you there.

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@PeteCoin I appreciate reading and following along the progression/evolution of this proposal. Obviously this wasn’t a simple discovery and I am sure took an ample amount of thought and effort. Thank you for experiencing that, hopefully for the betterment of the DAO as a whole. I had made a post commenting to the topic on salaries and hadn’t yet seen the changes that you had made to this proposal a day before. I see a part of that here in a fashion and would complement you on making difficult choices in looking to help set a bar or example for DAO accountability. Looking forward to continue to watch the progression and supporting the efforts of the DAO together.

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I like this principle and concept.

I will always prefer this model where possible. Specific deliverable or falsifiable goal which earns specific bounty for completion. Not all work can be sliced this way, but when it can, I think it’s far superior. We should build the habit of paying for results, not for work.

<3 this accountability and reflection

Can you define/describe this more for those who may not be familiar with the terminology?

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