[SCP-51] Proposal to Fund the Marketing Workstream through June 30, 2022 [Official Ideation Thread]

Summary:

Fund a Marketing Workstream focused on creating a marketing machine for the DAO. To spread the message of our product, drive new and existing users to the mutually beneficial yield farming opportunities therein, and report success metrics back to the DAO.


Abstract:

The Marketing Workstream plays a vital role in promoting the DAO by engaging users, creating marketing campaigns, and executing them across the digital landscape. It is the engine that drives the spreading of the DAO message, coordinating and producing all materials representing our decentralized organization. We believe that our strategies will continue to help achieve our shared vision of a borderless financial system. This is a proposal to fund the Marketing Workstream through June 30, 2022.


Motivation:

The ShapeShift DAO has attracted talent from all over the web and retained fantastic talent from the previous centralized organization. Products continue to be built, and our systems’ capability continues to grow. The Marketing Workstream intends to closely collaborate with the Product Team in order to make current and new users aware of what ShapeShift’s systems capabilities and functions are. Ultimately, we are aiming to acquire and activate new and existing users towards revenue-generating points.

By creating a workstream that focuses on strategizing, developing, executing, and tracking marketing initiatives for the DAO - any workstream or individual can contribute to ShapeShift DAO marketing. We will collaborate with the DAO and be the workstream responsible for these efforts.


Specification:

  • Propose and execute marketing campaigns that support product launches, partnership agreements, and project integrations.

  • Produce and distribute quality marketing content for the community.

  • Strategize community growth and management across Reddit, Telegram, Instagram, Facebook, and other community media outlets.

  • Drive users to revenue-generating actions and report back to the DAO on progress, current actionable items, and KPIs.

  • Continually refine and improve strategies across the DAO’s marketing initiatives and community growth.

  • Build a workstream that empowers everyone working within the subcommittee to feel heard and at home with the ShapeShift DAO community.


Specific Goals & Success Metrics:

  1. Leverage Social Media: One of the most important marketing tools for the DAO is social media. Perhaps even more so in the crypto/defi space, the marketing team shall use social media effectively to connect with the global crypto community and put the spotlight onto various DAO projects.

The marketing workstream shall be responsible for creating, distributing content and growing the following social media platforms:

  • Facebook - Increase followers to 60,000 by June 30th, 2022 (a 19% increase)
  • Instagram - Increase followers to 10,000 by June 30th, 2022 (a 90% increase)
  • Reddit - Increase average unique engagement to 1,500 per month by June 30th, 2022 (a 15% increase)
  • Telegram - Increase followers to 3,500 by June 30th, 2022 (a 45% increase)
  • Youtube - Increase followers to 4,500 by June 30th, 2022 (a 32% increase)
  • Medium - Increase followers to 4,500 by June 30th, 2022 (a 40% increase)
  1. Influencer/Affiliate Marketing: There are influencers who are well recognised and respected within the crypto community. Users become confident in projects for many reasons, and if a person they trust is on board with ShapeShift DAO, that is one way we can attract potential FOX holders. Our current best thinking is to engage with a specific type of influencer that meets some or all of the following criteria:
  • Focuses on DeFi Projects.
  • Produces content focused on earning yield on digital assets - rather than buying, waiting for the price to increase, and selling.
  • Understands the utility of the tokens they recommend to their audiences, and can explain how users can best put their token to work.

Ideally, we find content creators that help us kill 2 birds with one stone. There is a focus on utility throughout the $FOX ecosystem while at the same time providing tutorial-like instructions though the visual content they create.

Due to the variability in costs when working with influencers, the goal for the workstream during this term is to identify and connect with influencers that meet the DAO’s standards. If the cost of working with an influencer is reasonable, the workstream may fund the partnership through the bounty budget. If the cost would be a significant portion of the bounty budget proposed by the workstream, we plan to present and write separate funding proposals.

  1. Content Creation & SEO: By creating content regularly for ShapeShift’s website, search engines will assign more value to it, and thus the website will show up more frequently for terms related to our brand. The website is often the first (and in some cases the only) place people go for information about ShapeShift. The Marketing Workstream will be responsible for keeping Web content current and working with the Product Workstream to execute necessary UI/UX changes.

A non-exhaustive list of content the workstream will create, optimize, and publish to the website and external channels includes:

  • Weekly and Monthly ShapeShift DAO Newsletters.
  • Blogs (both long and short form).
  • Written and video content on processes, walk-throughs and news in the DAO.
  • Graphic design content to be used for engaging audiences on various social media platforms.
  1. Press Releases: Publishing press releases is essential in spreading the message of the DAO due to the legitimacy it confers on the project. By creating content suitable for PR and amplifying it with formal press releases, the DAO shows maturity and legitimacy as a brand (ShapeShift) and as a project (ShapeShift DAO).

  2. Support the Community: The workstream will build a connection with the community outside of Discord by engaging and answering questions on various social platforms. The workstream will nurture the relationship with the community on a daily basis by being active within the channels and seeding conversation with content created by the DAO.

  3. Data DAOshboards: The workstream will work to build a series of dashboards for anyone in the DAO to track progress on:

  • Activated FOX - which is FOX that is locked within a contract and not sitting in a wallet, segmented by each opportunity.
  • Number of FOX Token Holders
  • Growth of External Channels

A series of dashboards would serve all DAO workstreams tremendously by providing insights to valuable ecosystem data and metrics.


Proposed Workstream Roles:

Full Time Roles:

  • Worsktream Leader & Data Lead - @Petecoin
  • Content Creation & Distribution Lead - @Arina
  • Social & Community Growth Lead - @ETHan1Elohim
  • Video Streaming & Management - @PTT

Bounty Roles that can turn into Part Time / Full Time Roles:

  • DAO Analytics Manager
  • Social Media Channel Managers
  • Copywriters
  • Graphic Designers
  • Videographers
  • Email Managers

Budget:

Total 6 Month Requested Budget: $351,086

The budget is designed with these conditions in mind:

  • The bounty budget proposed by this workstream is intended to be used to grow the talent pool proposed above - and leave room for valuable bounty hunters to become part or full time contributors.
    • The intended result is to create a series of redundancies in talent so that the workstream can remain agile to meet marketing demands.
    • $15,000 per month is split into three buckets:
      • $5,000 for Content Creation
      • $5,000 for Community & Social
      • $5,000 for Data
    • Any bounty contractors that become full or part time contributors will be compensated either through the bounty budget, or by a separate proposal submitted through DAO governance.
  • This workstream intends to continue what was started in the previous term - which is to benefit from a global talent pool. Two contributors may have different salary requirements, but be equally qualified. This is expressed by grouping all salaries into a bucket instead of by role, and every applicant moving from a contract role to a full or part time position can propose a salary that they feel meets their needs.
  • Any unused funds at the end of the 6 month term will be returned to the DAO with a report released to the community that details where all funds were spent. No funding will be rolled over into any subsequent term if this workstream continues past June 30, 2022.

Benefits:

This workstream ensures that the DAO continues to make current and new users aware of what ShapeShift’s systems capabilities and functions are. Ultimately aiming to acquire and activate new and existing users towards revenue-generating points & reporting all activity back to the DAO at the end of the term.

Drawbacks:

The main drawback is the cost to fund this workstream, however, we strongly believe a Marketing Workstream is a necessary branch of the DAO and we hope that the community has seen the value and will continue to support us.


  • I support funding the Marketing Workstream through June 30th, 2022
  • I am against funding the Marketing Workstream through June 30th, 2022

0 voters

3 Likes

Thank you for posting, I had few questions

  1. On the breakout of the bulk of the budget which is contained in full time contributors salaries, Is is possible to provide more detail? This being the majority contributing factor for $351k total.

  2. Are there any numbers or ROI that can show or determine that increasing followers in social platforms has direct correlation to creating / maintaining DAO involved and contributing community members? I understand that this is new and DAO’s might not track such information up to this point, to that effect is this workstream planning to discover ways of determining this? Is it possible?

As for a realizable product or service that has a determined cost I can see the correlation for growing (sales, fees, and revenue) but as one of our products the DAO and the fact that the platform doesn’t charge fees, I don’t clearly see the logic yet. The concept that new account followers means “real” people and translatable traders, voters, or holders of FOX or community members that are additional DAO value. Maybe a correlation to the Merch store and sales campaigns can be associated, but other than the possibility of being non bots and having a larger platform to broadcast from I would hesitate in the assumption that follows mean “product likes” and DAO wellbeing. I realize that this has multiple sides and conversation points so it is presented as a question not a statement.

1 Like

I appreciate the questions @Neverwas!

  1. In terms of breaking out the salaries - if the workstream contributors don’t mind I am happy to publish them. In the financial report promised in this proposal, all costs are broken down transparently, much like in the report just released. (This includes all salaries.) I’ll check with everyone and get back on this thread.

  2. There are no numbers or ROI that shows a direct correlation between more followers, and more contributors to the DAO. We do believe, however, that our workstream should propose concrete metrics to try and meet.

The logic behind what we are trying to build is really centered around point #6, which is the Data Dashboards. This framework will be my top priority to create, and then as a workstream we will use this as a framework for all efforts moving forward. As v2 launches, there are a number of opportunities for users to utilize our product to generate yield on their digital assets. In doing so, the DAO will earn a referral fee back from the protocols we integrate with. These opportunities will only grow over time.

Thus, the marketing team will then pivot towards creating campaigns to get those opportunities filled. The social channels, email, as well as content marketing and PR are the vehicles by which we will spread the message and drive those actions. That’s why we wanted to have some concrete goals around growth on those social channels - the more eyeballs that we reach, the more likely we are to grow those yield farming numbers.

Ultimately, the intention of the marketing workstream is to build a data-driven marketing machine - driving new and existing users to important revenue generating actions for the DAO. It is from there that we will then calculate ROI, as well as have the ability to split test messaging.

2 Likes

Thanks @PeteCoin for the informative follow up

1 Like

Thank you for posting this Pete. I am obviously in support of this proposal and have loved my experience in this workstream so far.

I like that you provided a 1st term review in your previous post showing what was accomplished and where improvements could have been made, this is so important for the growth of the workstream and transparency to the community.

I hope that the community continues to support this workstream so we can keep on firing this marketing machine and support the DAO to help achieve our shared vision of a borderless financial system.

4 Likes

After speaking with the team, we are happy to share a breakdown of salaries:

Less than 24 hours in, there are a lot of negative votes - but not a lot of feedback. Our team is passionate about marketing the ShapeShift DAO, and so any feedback as to how our proposal could be improved is encouraged!

We’ve moved back into the forums in order to make sure that we are getting all feedback necessary! [Draft] Proposal to Fund the Marketing Workstream through June 30th, 2022

Since this proposal was simply posted here, and did not hit the forums first, we’re going to bring this back into the forums. We want to do it right :slight_smile:

2 Likes

It is certainly a good proposal but I think there are funds that are a bit rampant

I am not a big hodler but if I am interested in dao and I saw the latest proposals and wanted to interact a little but bro 16k destined for salary sounds a little crazy to me

It would be talking about almost a third of the entire budget

7 Likes

I agree with you nosey, the budget is hard to digest for a number of reasons and some of these reasons will likely have been unknown to the community prior this post. The first concern that I have with the budget is of course the high salary for @PeteCoin. My workstream leader being paid nearly 3x what is compensated to me as I’ve been grinding day in and day out has been demotivating, to say the least. I would hope other community contributors wouldn’t be put in the same position and be expected to work as hard as I do in your workstream for my current compensation. Now this situation may not be the case if compensation were gauged on value contributed (much easier to do on a person’s second term, admittedly).

To be transparent, I am curious as to what your claimed accomplishments are personally as a leader or contributor within this past term for the DAO to pay you 16,250 a month moving forward @PeteCoin? The part that concerns me about voting for you as a leader is that I have seen nothing but resistance on any idea or partnership that I bring to you (ranging from the YAT integration that you were ‘bearish’ on, to the TOKEMAK reactor that you talked bad about for days, literally).

The second budgetary concern that I have centers around the bounty budget. I personally have been responsible for 90%+ (rough guess) of bounties being created, posted, and filled for the marketing & growth workstream ranging from graymachine months ago to thesmith, arina and her content creators recently. I am concerned about the availability of you pete, as I continue to cover for you on hiring/meetings/partners/bounties/payments/pitches as I have for the last four months. Should you really have that significant of a bounty budget without me helping you direct strategy and onboard the entirety of your team? I’m curious at the end of the day as to how sustainable this workstream will actually be without me ensuring such.

My recommendation at this point is that you would not be the leader of Marketing moving forward, at least if you’re asking for the 16,250/mo salary. The benefit to the DAO does not parallel compensation request historically. Beyond your compensation, I do not support the recommendation of 10k/mo for ethan as I helped you hire, and literally wrote out the plan-of-action/scope in which you plan to have him function as a contributor.

I hope you can find this post as constructive as it is intended to be Marketing proposal participants/contributors. I would love to see this proposal written in a way that I can stomach in terms of cost/benefit as I have been a participant of workflow. However this is simply my opinion of course, and I am truly only voicing my concerns with the DAO’s best interest in mind after thoughtful consideration/contemplation.

3 Likes

There is a lot to unpack in this comment, and I look forward to discussing it with you and the community on 12/21/2021 during the retro - I’d be happy to go through this with everyone.

I have been available almost all days except for a planned absence to move across the country. The amount of time and energy I have put into the DAO is hard to quantify - I find myself thinking about it morning, afternoon, and night. I created strategy & infrastructure, got on calls with all contributors both to help define their roles and to assign tasks, organized launches, and was fiscally responsible for the workstream. Additionally, I was responsible for reporting progress to the DAO on a weekly basis and assumed the onus of reporting back to the DAO what the workstream accomplished. The results of which are detailed in our first term review: Marketing + Growth Workstream 1st Term Review. Briefly, I am seeking compensation for leading the workstream that is in line with other workstream leaders, and reflects the responsibilities of that position. I do not take it lightly :slight_smile:

I could not have accomplished everything in that report alone - it was due to your work and the work of others that we were able to collaborate and achieve what we did. I don’t agree with an approach of splitting up successes to individual people - as we are all serving at the behest of token holders and for the benefit of the DAO, and we all depended on each other in order to succeed.

2 Likes

I agree with you that teamwork makes the dream work and I’m not trying to downplay your value at all, in fact I think it’d be a huge mistake for anyone to do that. My position on the marketing workstream moving forward aligns with everything you presented minus the data portion being the definitive focus, as I think creating a menu for an ever changing buffet will be problematic.

In a perfect world I think seeing Ron’s pay increased to 3k, Arina to 6, Ethan to 7.5 (but really why would ethan and arina make something different – compensation should be gauged by value added more than any request imo), and you to 12-14 makes sense to me as a community member and FOX holder. I am not implying that I want any significant structural changes to happen nor do I want to try to direct any focus that you think is important. Hopefully that sheds some light for you @PeteCoin as well as the community trying to interpret my comments/recommendations.

2 Likes

Just want to say I appreciate the feedback being shared and @PeteCoin’s openness to hearing the feedback :heart: healthy debate > silent head-nodding any day.

With limited context, I do feel better about the salaries @hunt proposed vs. the original salaries. I’m sure there’s plenty of context that I lack here though and want to acknowledge that.

Re: the workstream leader salary - $16,250/month does seem on the high end. While this is the salary for the Engineering and Product workstream leaders, I feel that a higher salary for these roles is justifiable considering the size of the worsktreams, the seniority/experience of the leaders, and the requirement for rarer, more technical skills for these positions. For context, the salary for the Operations WS leader is $12,500 and $12,000 for the Support WS Leader.

3 Likes

Appreciate the feedback everyone! After reviewing with the team, we are happy to share that the total salaries remain the same, but transferring $2,250 per month from myself to @Arina. This brings us all to a level that we feel comfortable with, and we feel reflects the feedback given in this soon-to-be-resurrected ideation thread.

5 Likes

We are glad to be back in official ideation. Since the majority of feedback that we received was around compensation - and we have addressed that - I’d like to close the poll above, and reopen a poll to gauge whether or not we have made the necessary changes to earn votes.

So, please vote!

  • YES - I am in favor of funding the Marketing Workstream through June 30th, 2022
  • NO - I am against funding the Marketing Workstream through June 30th, 2022

0 voters

7 Likes

Marketing is the fire that cooks business products, without marketing a product will either die or will never be known to the consumers, furthermore, a starving marketing team is a dead business product. Availability of funds is essential to the marketing workstream if you want to take over the crypto space in your new pursuit (CHAIN) in the space.

1 Like

It’s fascinating to read all the comments. I appreciate a lot the transparency and openness about marketing budget and its importance. With clear and fully aligned success metrics, I believe the marketing team will become one of the core indispensable power houses to grow ShapeShift. :rocket:

2 Likes