This proposal is cross-posted at www.dashcentral.org/p/mrktg-coregroup-032018
This proposal funds an expansion of the Dash Core Group digital marketing efforts, by funding the first two months of a 6 month marketing plan.
We have recently initiated our first substantial advertising campaign from Dash Core, which was funded back in October as part of a broader set of activities, including the soon to be released brand refresh, and a small test marketing campaign. To properly expand this effort we have created a six months plan and we are asking here for the funds we need for the first two months so we can have some flexibility when deploying them. The proposed ad campaign production and purchases will be managed by Ogilvy & Mather.
The advertising budget request is 615,000 USD/month (500,000 EUR/month), so we are asking for 1,230,000 USD in this proposal.
Obviously this doesn’t pay for huge campaigns, but we don’t think we should be pursuing larger campaigns until we have better data on their effectiveness. In no reasonable price scenario will we have enough budget to compete in advertising expenditure with the big brands, so we need to operate differently. We will be doing small ad campaigns to test messages and formats; and to learn about our audience. With that information we expect to be able to refine our non paid channels (PR, website, social media) so we can optimize their impact and bring in the highest number of users.
If the budget situation allows and we see opportunities in the data, we may do additional proposals to supplement this budget.
As a side note, the funds from a previous proposal for a Facebook campaign could not be applied to that because of Facebook’s ban on crypto ads, so we have migrated that to the Google ecosystem which will be launching shortly. This issue caused a minor delay in initiating that test campaign.
COST SPLIT
A common split in the industry is around 80% of the budget to pay for media, 10% for production costs and 10% for agency fees. The media part scales better faster than the other two, so for small budgets like ours sometimes production or agency can be a little higher.
Media will be always digital so we can measure accurately and be able to obtain information. Given Facebook’s ban on crypto we will focus more on the Google ecosystem: Youtube, display ads Google manages in third party sites, and search.
Besides that, we will also do some direct purchases of ads outside the Google network and will probably test other channels like Reddit or even Twitter. The idea is to test and refine.
Regarding the agency, we have worked with Ogilvy to build a team that will be able to work on more than just our budget. The composition of the team will be flexible because it is too early to really know what we will be doing in a few months. Specifically, they will be working with:
-Partners: the business development operation will request marketing support for some partners and Ogilvy will be supporting that, but the media will be paid by the partner and/or the business development budget. This work has already begun and they have already meet with BlockCypher or Strike Social, to give a couple of well known examples.
-Community: There are some proposals that we don’t do from Dash Core that are marketing related. Ogilvy will be providing some support to those, when requested by proposal owners and after some internal feasibility analysis. This will begin once the branding and messaging efforts are released to the community.
INFORMATION ANALYSIS
As mentioned before, we will be measuring everything around the campaigns we launch so we can adapt our messaging and strategy with the information we get.
All advertising platforms provide some analytics, but we will be consolidating information so we can do more in depth analytics and add first and third party data to that. Finishing our own DMP (Data Management Platform) is not something we expect to achieve in the first few months of the advertising project, but we will establish the basis so we can have that relatively soon.
Requested funding is as follows for the March 4th budget cycle:
Note: Should any funding remain, we will apply it toward future marketing expenses.
Manually vote YES on this proposal:
dash-cli gobject vote-many f0ad1da5383b27b2f0c84b95316bdcd03f330a20ada06bb178dfb0326bb09764 funding yes
OR from the qt console:
gobject vote-many f0ad1da5383b27b2f0c84b95316bdcd03f330a20ada06bb178dfb0326bb09764 funding yes
Manually vote NO on this proposal:
dash-cli gobject vote-many f0ad1da5383b27b2f0c84b95316bdcd03f330a20ada06bb178dfb0326bb09764 funding no
OR from the qt console:
gobject vote-many f0ad1da5383b27b2f0c84b95316bdcd03f330a20ada06bb178dfb0326bb09764 funding no
This proposal funds an expansion of the Dash Core Group digital marketing efforts, by funding the first two months of a 6 month marketing plan.
We have recently initiated our first substantial advertising campaign from Dash Core, which was funded back in October as part of a broader set of activities, including the soon to be released brand refresh, and a small test marketing campaign. To properly expand this effort we have created a six months plan and we are asking here for the funds we need for the first two months so we can have some flexibility when deploying them. The proposed ad campaign production and purchases will be managed by Ogilvy & Mather.
The advertising budget request is 615,000 USD/month (500,000 EUR/month), so we are asking for 1,230,000 USD in this proposal.
Obviously this doesn’t pay for huge campaigns, but we don’t think we should be pursuing larger campaigns until we have better data on their effectiveness. In no reasonable price scenario will we have enough budget to compete in advertising expenditure with the big brands, so we need to operate differently. We will be doing small ad campaigns to test messages and formats; and to learn about our audience. With that information we expect to be able to refine our non paid channels (PR, website, social media) so we can optimize their impact and bring in the highest number of users.
If the budget situation allows and we see opportunities in the data, we may do additional proposals to supplement this budget.
As a side note, the funds from a previous proposal for a Facebook campaign could not be applied to that because of Facebook’s ban on crypto ads, so we have migrated that to the Google ecosystem which will be launching shortly. This issue caused a minor delay in initiating that test campaign.
COST SPLIT
A common split in the industry is around 80% of the budget to pay for media, 10% for production costs and 10% for agency fees. The media part scales better faster than the other two, so for small budgets like ours sometimes production or agency can be a little higher.
Media will be always digital so we can measure accurately and be able to obtain information. Given Facebook’s ban on crypto we will focus more on the Google ecosystem: Youtube, display ads Google manages in third party sites, and search.
Besides that, we will also do some direct purchases of ads outside the Google network and will probably test other channels like Reddit or even Twitter. The idea is to test and refine.
Regarding the agency, we have worked with Ogilvy to build a team that will be able to work on more than just our budget. The composition of the team will be flexible because it is too early to really know what we will be doing in a few months. Specifically, they will be working with:
-Partners: the business development operation will request marketing support for some partners and Ogilvy will be supporting that, but the media will be paid by the partner and/or the business development budget. This work has already begun and they have already meet with BlockCypher or Strike Social, to give a couple of well known examples.
-Community: There are some proposals that we don’t do from Dash Core that are marketing related. Ogilvy will be providing some support to those, when requested by proposal owners and after some internal feasibility analysis. This will begin once the branding and messaging efforts are released to the community.
INFORMATION ANALYSIS
As mentioned before, we will be measuring everything around the campaigns we launch so we can adapt our messaging and strategy with the information we get.
All advertising platforms provide some analytics, but we will be consolidating information so we can do more in depth analytics and add first and third party data to that. Finishing our own DMP (Data Management Platform) is not something we expect to achieve in the first few months of the advertising project, but we will establish the basis so we can have that relatively soon.
Requested funding is as follows for the March 4th budget cycle:
- $1.23 million USD
- 5.00 Dash proposal reimbursement
Note: Should any funding remain, we will apply it toward future marketing expenses.
Manually vote YES on this proposal:
dash-cli gobject vote-many f0ad1da5383b27b2f0c84b95316bdcd03f330a20ada06bb178dfb0326bb09764 funding yes
OR from the qt console:
gobject vote-many f0ad1da5383b27b2f0c84b95316bdcd03f330a20ada06bb178dfb0326bb09764 funding yes
Manually vote NO on this proposal:
dash-cli gobject vote-many f0ad1da5383b27b2f0c84b95316bdcd03f330a20ada06bb178dfb0326bb09764 funding no
OR from the qt console:
gobject vote-many f0ad1da5383b27b2f0c84b95316bdcd03f330a20ada06bb178dfb0326bb09764 funding no
