Season 8 Budget Proposal - Marketing Department

Grants/Funding Season 8 Proposals
1

Marketing Department Season 8 Budget Proposal

Authors: Mr. V, OrnellaWeb3, Eren Targ, Oluwasijibomi
Date created: April 3rd, 2023
Date posted: April 7th, 2023
Affiliation: Marketing Department
Funds requested: 1’180’000 BANK
Department multi-sig: 0xE5a64FC0d3396D11EB63d728791577E254Ac18Ca

Table of Contents

  1. SUMMARY
  2. MISSION & VALUE ALIGNMENT
  3. FINANCIAL IMPLICATIONS
  4. SEASONAL KPI
  5. FURTHER DEPARTMENT CHANNELS
  6. NEXT STEPS

SUMMARY

Department Description

BanklessDAO’s Marketing Department is responsible for all marketing activities related to the organization. Its main focuses are managing and organizing the DAO’s web2 and web3 social media platforms such as Twitter, Instagram, LinkedIn, TikTok, Telegram, and gm.xyz, as well as providing marketing services to both internal BanklessDAO projects and external partners seeking to promote their message through our platforms. The department is divided into three main workstreams: Operations & General Coordination, Educational Content Creation, and Internal & External Campaign Coordination. It collaborates closely with other touchpoints of the DAO, including the Newsletter Team, Global Events, DAOlationships, and International Media Nodes, and also attends to diverse media partnership requests.

Past activities

During Season 7, we made significant efforts to future-proof the Marketing Department. These included updating existing guild documentation and creating and aligning new processes within the department.

One crucial element of this work was defining processes for content creation. We identified scalability issues with the previous definition and worked to establish clear requirements and expectations for bounty management across different campaign types (Campaigns A, B, and C). This work is also important for ensuring a smoother and more aligned onboarding process for new members of the Marketing Department.

The Department didn’t just focus on self-improvement. We also heavily worked on various campaigns. These campaigns aimed to either bring attention to bDAO-born non-profit projects (Campaign Type A/B: Turkey Relief, Panvala, Gitcoin Grants, Global Events for Tokyo/Seoul/India, Season Kick Off, tlBANK) or generate revenue from external parties (Campaign Type C).

We successfully earned 12’350 USDC revenue from external parties like Gritti, Vertex, Cruize Finance, ZKX, Supercluster, and more. After paying all included contributors (-5670), we had a total of 18’016 USDC in our multi-sig (accumulated over multiple seasons). Last season we transferred 20% of the external revenue we made back to the Treasury Department. It is an open discussion point on how to use the remaining funds in the best way for the DAO.

MISSION & VALUE ALIGNMENT

Our mission is to amplify the values of BanklessDAO, by delivering creative web3 marketing solutions to help the BanklessDAO initiatives, partners, and clients get in front of the right people with the right message.

We use the reach and reputation of bDAO as an opportunity for other web3/crypto projects that are aligned with the mission and values of BanklessDAO. This creates an important and much-needed revenue stream.

Marketing Department Constitution

FINANCIAL IMPLICATIONS

Budget Breakdown

Cost Item BANK per Season
Role Holder 560,000
Micro-Role Holder 200,000
Coordinape 200,000
Bounties 200,000
Funding for Internal Projects (Campaign Type A) 120,000
Season Budget 1,280,000
Expected Leftover 100,000
SEASON 8 FUNDING REQUEST 1,180,000

The budget structure for Season 8 is the same as in the previous season. There are ongoing discussions about adjustments of salary due to the growing complexity of certain roles (Twitter Micro-Role, Content Manager) due to the increase in demand. If the guild consensus is in favor, the department would draft a proposal for the GC to discuss mid-season funding.

Compensation Breakdown

Cost Item
Guild Coordinator 112,000
Campaign Coordinator 112,000
Social Media Coordinator 112,000
Talent Coordinator 112,000
Governance Coordinator 56,000
Treasury Coordinator 56,000
Meta Micro-Role 32,000
Twitter Micro-Role 32,000
LinkedIn Micro-Role 32,000
Telegram & gm Micro-Role 32,000
TikTok Micro-Role 32,000
Content Manager 40,000
Coordinape 200,000

The compensation remains the same as in the previous season. Because of the extended season length (from 12 to 16 weeks), there is one additional month’s payment for role holders, bounties, and Coordinape. This results in an increased overall ask.

SEASONAL KPIs

Factor KPI Success Metric
Social Media Follower Growth +10%
Campaigns Revenue +10,000 USDC
Guild Ops Complete the remaining process documentation 100%

FURTHER DEPARTMENT CHANNELS

Social Media Platforms

Are you in favor of the budget proposal?

  • Yes
  • No (comment below)

0 voters

2

Great to see revenue pick up in these conditions! As i understand the current leads are organically generated? Is it possible to invest more resources in acquiring new clients?
These could specifically be other DAOs. Many DAOs seek service providers and MD could definitely win these public bids with its current track record of delivering excellent marketing services

1 Like
3

Hey Jengajojo. Thank you for the comment, we this would be a good idea with the right talent to make sure we do no “wait” too much for new clients. In some cases in the past, DAOlations (i.e. @NFThinker) was good a business development and forwarding interested parties.

These leads can than be nurtured and a proposal of services needed being written. This can then again lead to revenue for other teams (i.e. Newletter, Translation, IMN, etc.) as we propose marketing solutions than require more services from others.

2 Likes
4

With 200,000 BANK allocated for bounties, and a large number of compensated roles, I’m wondering what the Marketing Department’s rationale for a 200,000 BANK Coordinape round is.

Can you provide some reasoning as to why the Coordinape is thought necessary and whether role holders / those already paid bounties would be eligible?

Thank you :slight_smile:

5

Thanks for the question @Trewkat. The monthly coordinape round of 50k BANK is only for active members of the department. This means only role holders and people who completed bounties or contributed to campaigns will be eligible for the round. We limited the access on purpose as we saw 60+ members in the past receiving GIVE without any active department contribution.

That being said, the reason why we have this round is to give kudos to the active contributors that go beyond their expectation. Some of our members are actively shaping the department beyond their role and some have high workloads during some moments and campaigns and that is why I personally think it is a good way to reward those members. Does this answer your question?

6

Thank you, you have answered my question. :slight_smile:

7

Great thoughts @Jengajojo and both you and me have toyed with this idea this season. We should definitely look into providing marketing services to other DAOs moving forward. There are 2 specific constraints we would need to consider and evaluate:

  1. Providing marketing services to a DAO would be an ongoing commitment (at least for a season) and whether the MD has team members who can commit to such an arrangement. This is different from marketing campaigns, which typically run for weeks and requires a specific, focused and small team to deliver

  2. The compensation levels and the type of compensation on offer - I can’t speak for the MD as a whole but compensation forms in governance tokens or other tokens that can be traded on DEXs don’t provide much utility. Because we are treating another DAO as a client, and the involvement is extensive and ongoing, the compensation formats should be of immediate utility for the client team and the contribution made to the MD multisig

8

Hi @Mr_V Wonderful proposal!
I have a couple of questions!

  1. What is this amount allocated for?
  1. I am unable to access these links, would it be possible to make them viewable?
  1. The marketing Dept linktree directs to Bankless HQ in multiple areas, is this correct?
    A) Get started -Getting Started | Bankless
    B) subscribe to the best crypto newsletter-Read | Bankless
    C)The YouTube channel https://www.youtube.com/c/bankless?sub_confirmation=1
9

Also, I would have liked to had a choice to abstain until I can vote

10

I understand the challange here:

How about having a service arm for MD similar to BP or BC and route these servicing requests from there. So the idea is MD acts as a filter for talent and those who demonstrate talent and commitment are picked up by the service arm to service other DAOs?

Do you have any suggestions on how these compensation format could look like? What sort of utility are we talking about?

11

Hey there @Sprinklesforwinners.

  1. This bucket of BANK is reserved for internal bDAO projects that did not plan for a marketing budget but need digital visibility through our channels. In the past, we realized that this led to a show-stopper for supporting some smaller/newer bDAO projects which is why we introduced this in S07.

  2. Sorry for broken links… Let’s try again:
    Marketing Departement Notion
    Marketing Department Constitution

  3. I don’t think we should direct to HQ links but use our own property because it can be super relevant for onboarding and informing people. Looping in our social media coordinator @Eren to make sure we take care of this

And yes, we should have added a “abstain” voting option… I will make sure we enable this option next time.

2 Likes
12

Thank you for responding so quickly! I appreciate this, as I am now able to vote Yes

2 Likes
13

One more question! Is there any marketing done directly to bring contributors into the DAO?

14

I am not sure if there were specific onboarding campaigns.

Do you know if we have such initiatives @OrnellaWeb3 @Oluwasijibomi ?

2 Likes
15

There isn’t anyone I know of as of the moment, however, the content strategy workstream of the department has plans of partnering with the education department to promote the educational contents that the education department teaches which I think will be able to onboard or bring contributors to the DAO

@Sprinklesforwinners don’t know if this answers your question

16

It does, I just wonder about other marketing possibilities. Even if they are to draw attention to the education portion

17

do you have any other marketing possibilities in mind you would want to share or discuss we surely can have a chat to see how to implement that.

18

No specific onboarding campaigns at the moment.

@Sprinklesforwinners We’d be more than happy to help the Education Guild market its Onboarding Activities through Campaigns Type A/B.

@Oluwasijibomi is in initial conversations to get this started!

It would be great if Education Guild can share more about how they market the current initiatives and final data on the Onboarding Experience. How many people join? Do we have retention? What can be improved? If we learn what’s working, and what isn’t, as marketers we can certainly help.

1 Like
19

Thanks @Ornella. The education guild was an example, I am wondering why there aren’t any marketing campaigns at all focused on onboarding for the DAO in general. How can the we assess how many people join and are retained if they don’t know about BanklessDAO? How do we get people to know about BanklessDAO if we aren’t marketing it to potential joiners?

1 Like
20

Analytics Guild is currently working on this data, if we are able to pull it out we will give it to the two departments