Analyst & Author: Ella Dane (Ella Dane#0382)
Date of survey: June 8, 2022
Date of publication: June 13, 2022
Previous Surveys can be found here
This analysis pertains to the survey of BanklessDAO members taken during the Coordinape period ending June 8th, sampling 137 Guest Pass holders, 67 L1 contributors, and 77 L2 contributors for a total sample size of 281 members.
** see bottom of document for explanation about Community Net Promoter Scores
TL;DR
We measured the community’s satisfaction with BanklessDAO and achieved a Community Net Promoter Score (”cNPS”) of 55, a 3 point increase from the May score.
While bDAO members are concerned about the price of BANK, talent retention, and onboarding difficulties, the sentiment of the respondents is quite positive, a notable feat especially in light of current rocky markets.
Community Net Promoter Score Summary
bDAO’s NPS
We achieved a cNPS of 55, a great score, and yet this month’s score is significantly lower than the scores measured in November and December of 2021.
A total of 281 bDAO members responded to our survey, an increase of 2 participants since the last survey (up 1%). Of these, a low number (25 of 281) were counted as Detractors.
A quick analysis indicates that Guest Pass showed a decrease in satisfaction with the DAO, L1s indicated a huge increase in satisfaction, and L2s experienced a slight increase in satisfaction.
Our findings indicate that there is a material gap in cNPS between guest passes (cNPS=66), and L1s & L2s (cNPS= 46 and 43 respectively).
Quantitative Results:
Qualitative Questions
Along with the quantitative cNPS question, we asked two additional qualitative questions to measure our praises and concerns for bDAO. From these I have synthesized the following.
Why We Love bDAO
- Strong Community (56 responses)
- Education & Learning (33 responses)
- Abundant Work Opportunities (25 responses)
These are recurring themes that can be traced through past survey analyses - a huge success. Here, however, I am going to focus on other unique themes from our June survey that stand out. To hear more about what bDAO members have to say about their community, education, and opportunities, please see past analyses here.
1. Personal Growth - 11 Responses
bDAO has become a hub for innovation and growth, not only forming leaders within the web3 industry, but also challenging the personal growth of its community. Members say:
- “I have grown tremendously contributing to guilds in the DAO and also rewarded for it, which means there’s a room for growth for everyone”
- “I have been learning so much and getting experience in the areas I have wanted to develop in my career”
- “Helps your growth by helping others”
2. Bear Market Buidlers - 12 Responses.
As I combed through the survey raw data, I was shocked by how few people mentioned the bear market. These voices were replaced by “buidl market” rallying cries.
- “it drop, we build!”
- “I’m bullish bDAO and it’s buidl season”
- “it’s a build market”
3. All Around Hyppe - 32 Responses
- “I LUV EVERYONE I MET AT PERMISSIONLESSSSSS!!!”
- “I frickin’ love it here.”
- “I’m new and have a lot to learn but I have been positively surprised every step of the way”
Other Promoter Themes
Beyond these leading categories, there were many other comments that aligned to themes:
- Love for bDAO’s mission & values
- Friendly & creative vibes
- Decent organization
Community Concerns
- BANK Price & Compensation (51 responses)
- Onboarding (35 responses)
1. BANK Price
Tokenomics is by far the most widespread concern. Many are worried about the volatility and low prices of BANK and are put off by the effects of this lowering their compensation.
Members say:
- “It’s hard to do this full time. Probably good as a hobby, but if you need to pay the bills it’s hard to do that at BanklessDAO”
- “Low compensation doesn’t keep talented people for too long”
- “Everything is shaky including utility of BANK”
- “Pass a veBANK proposal to lockup DAO members’ stacks if they are long term bullish on bDAO and give them a return or utility for locking”
2. Onboarding
Onboarding difficulties are the age-old obstacles to taking the dive into web3.
Members suggestions:
- “Maybe find mentors or guides to help onboard people. They could be volunteers that help walk new members through the channels, introduce them to members of whatever group best fits them, help them get into their first project or job.”
- “Following up new joiners will go a long way to help them understand the DAO”
- “A comprehensive documentation for newcomers like me, currently all the instructions are in different places. Would be great to have everything in one place”
- “Perhaps have several onboarding ramps - one for web3 noobs & one for web3 jocks looking to figure out how to navigate bDAO”
Other Concerns & Suggestions
Community Calls (summarized):
- Community calls needs a better system for preparing & coordinating the slide deck
- There needs to be one designated person to contact for people having trouble with the slide deck
- Potentially create more of a team for the community call hosts
Overwhelming & Unorganized:
- “More ‘TL;DR’ messages to help summarize info (so much going on)”
- “Less pings from @everyones for things like podcasts and spaces”
- “Clear and up-to-date founding docs, handbook, guidelines, rules, etc.”
→ See this document for more members’ suggestions on how to best tackle the issues bDAO is facing.
Author’s comment
While contributing to BanklessDAO doesn’t ensure a sizable paycheck, this is exactly the thing that encourages its unrivaled community. No one here is for the pay; we’re here for the mission.
Synthesis
BanklessDAO is filled with passionate contributors who clearly love the community, bear-market-builders vibes, and room for personal growth within the DAO, and feel it gives them an abundance of projects and provides a launching pad into web3.
Our members are quite concerned about the price and volatility of BANK which needs to be addressed thoughtfully and quickly. Other concerns include talent retention, onboarding difficulties, the Community Call vibe, and the overwhelming bDAO Discord.
Good news: responses seem to be significantly more positive than they were in May.
Bad news: the entire DAO seems to be focused on BANK prices which could lead to massive dissatisfaction if not solved.
Overall: Guest pass satisfaction decreased, L1 satisfaction hugely increased, and L2 satisfaction slightly increased, which created a net increase of 3 points from the May cNPS - a positive upward trend.
Sources:
Unattributed NPS scoring sheet source is here
Confidential GUEST PASS responses here (restricted access)
Confidential LEVEL ONE responses here (restricted access)
Confidential LEVEL TWO responses here (restricted access)
Synthesis Scratch Pad here (restricted access)
About Net Promoter Scores:
The Net Promoter Score (NPS) is a well-regarded methodology for quantifying the whether a brand delivers on its promise. The standardized form of NPS reads as follows: “On a scale of 1-10, how likely would you recommend X to a friend or colleague?”
In our case, X = “working for BanklessDAO”
The results of an NPS survey can be quantified in a score that ranges from negative 100 to positive 100. Depending on the topic, brand, industry, etc., a “good” score can range anywhere from +0 to +40 and beyond.
Wikipedia discussion of NPS
Lattice discussion of eNPS
In our case, we are measuring “cNPS” which we cleverly coined to mean Community NPS. While there is no clear community standard yet, I believe cNPS relates closely to eNPS (Employee NPS). As for how to interpret the score, according to Jennifer Willy, Editor at Etia.com, “anything above zero is generally acceptable… Generally, a score between 10-30 is considered good while anything near 50 is excellent.”
