Marketing project with Ogilvy update

fernando

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May 9, 2014
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The marketing project with Ogilvy is quite advanced already.

Part 1 - Branding

We have agreed to a branding territory that will reflect what Dash is and what it wants to be. I can't provide more details without breaking the surprise, but we're confident that everyone will like it.

This part of the exercise has been more about looking inwards and finding about ourselves. We've had many meetings to discuss about cryptocurrencies, payments and Dash with the Ogilvy team, including one in London during the Dash Conference with around 10 people from Dash Core Team. We also did a small market research study to test some of our assumptions and quantify some of our knowledge.

On the visual side of the branding part of the project we have also advanced a lot. With the result of the aforementioned discussion, we explored a couple visual paths and have now chosen one of them. We are in the process of refining what we have so we can finally decide.

Once we have our decision, the Ogilvy team will produce the brand manual and materials in around two weeks. After that we'll plan the re-branding effort and implement it, so you should be seeing the results in February.

Part 2 - Advertising

We have developed a framework to do ad campaigns that increase our brand awareness. Only when people are aware of our brand they will be able to consider our product, use it and repeat. What we intend is to be able to determine what audiences are more receptive and what are the most effective messages.

We are starting small. In advertising you can always flush money and do everything, but we believe we should optimize our budget. We are competing with much bigger players. Banks and credit cards have marketing budgets in the billions, so we can't do what they do. We need to act smarter.

We'll be measuring awareness of our brand before and after the campaigns so we can tweak the following ones. For the fist run we'll be focusing on Facebook because it is the channel that provides the biggest granularity when choosing audiences. Of course, not everyone is in Facebook (or Instagram, which is also included), but we can't reach everyone just yet. With the information we'll get from Facebook, we will be able to do much better campaigns in other channels.

As for markets, we have chosen three and we'll quickly expand from there. Those are UK, Spain and Venezuela. We wanted English or Spanish speaking markets because we are doing this from Spain and we didn't want to involve translators in this phase. We discarded the US because is too complex and expensive to do initial experiments. We chose a couple of markets with mature financial systems and one with a failed currency to be able to compare and understand the differences.

We have already measured the audience and are currently finalizing the messages. In early January we'll produce the content and create the campaigns. And they will finally go live in mid to late January.