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Core Team Public Relations (February)

Discussion in 'Pre + Budget Proposal Discussions' started by glennaustin, Jan 7, 2019.

  1. glennaustin

    glennaustin Member
    Dash Core Team

    Oct 10, 2017
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    Dash Core Group February 1st Funding Proposals
    DCG is submitting 3 funding proposals for the February 1st budget cycle:
    1) DCG Compensation: $257,000
    2) DCG Public Relations: $27,390
    3) DCG Premises: $22,000

    This proposal
    This is cross-posted at https://www.dashcentral.org/p/coreteampr0219

    Public Relations is one of the key parts of the marketing function within Dash Core Group (“DCG”). The purpose of this activity is to gain media attention for Dash, help shape the messaging around Dash, and enhance the public perception of the project.

    In the past, we have worked with several PR companies; and since July 2016 we have been working with Wachsman PR exclusively. Their contract expired at the end of December 2018, but we had a small buffer in our public relations budget so we decided to extend the contract for an additional month before returning to the network for additional funding. We would like to renew the contract for the months of February to April 2019.

    In Q4 2018 we planned on expanding our public relations efforts into the Spanish speaking market by hiring a second PR firm to work with us. However, due to market conditions, we decided to pause the onboarding of the new LatAm PR firm. We have retained the funds requested for that effort ($9,000). They are earmarked in our budget and we will use them for additional reach in the Spanish speaking market.

    A report detailing Wachsman’s results is published in the forum:

    From a public relations standpoint, Q4 2018 was our best quarter to date. Prior to this record-setting quarter, our best quarter had been Q3 2018. During Q4 we achieved almost a billion unique visitors per month (“UVPM”), our highest ever. UVPM is an indicator of Wachsman’s performance. It reports Dash’s media exposure by measuring the reach of news outlets. The number of articles published in Q4 was similar to the previous quarter, which means that we are getting more attention from larger news outlets.

    Beyond direct results of outreach via Wachsman there is also an accumulation of talks and contacts with journalists that lead to more organic coverage. This would not have been possible without Wachsman. Supporting Dash with these conversations allows our PR efforts to bolster stories that may have been less widely covered and be readily available for any impromptu interviews unrelated to planned outreach narratives.

    Here are examples of articles published by far-reaching news outlets during Q4 2018:
    CNN - Beyond bitcoin: the other cryptocurrencies you should know too
    Dash CEO Ryan Taylor: Central Bank-Issued Cryptocurrencies Are the ‘Inevitable Future
    ChainLocks: Dash Upgrade To Eliminate 51 Percent Attacks

    What does this proposal fund?
    This proposal funds work performed by Wachsman PR for the benefit of the Dash network for the months of February through April 2019. Last quarter Wachsman agreed to cut their fee by 50% from their price of $15,000 to $7,500. They are maintaining that reduced pricing for the new contract. We appreciate their effort to accommodate Dash during this difficult budget environment. This new price, given the amount of work they perform for the network, is most likely a money-losing proposition for them. We recognize they are agreeing to this pricing because, besides being a provider, they are true believers in Dash with a partnership mentality.

    In addition, we are requesting $4,890 to serve as a buffer to account for the fluctuation in the price of Dash. The total amount this proposal is requesting is $27,390.

    If you have additional questions, please direct them to @fernando in this Dash forum post.

    Requested funding is as follows for the February 1st budget cycle:
    · 330 Dash for Public Relations ($27,390 USD @ $83 per Dash)
    · 5.00 Dash proposal reimbursement
    Total: 335 Dash

    Note: Should any funding remain, we will apply it toward future public relations expenses.
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  2. GrandMasterDash

    GrandMasterDash Well-known Member
    Masternode Owner/Operator

    Jul 12, 2015
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    I'd like to see experiments with other PR firms, to see how they compare.
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  3. Mike Crypto

    Mike Crypto New Member

    Jan 3, 2018
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    You definitely need to restructure your PR strategy and test your success criteria with more top-tier agencies. Thank you!

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