Proposal “Adverts_on_Radiolab“ (Completed)Back
| Title: | Adverts on Radiolab - UPDATED |
| Owner: | Syntheist |
| One-time payment: | 665 DASH (20593 USD) |
| Completed payments: | 1 totaling in 665 DASH (0 month remaining) |
| Payment start/end: | 2017-07-20 / 2017-08-19 (added on 2017-07-25) |
| Votes: | 607 Yes / 123 No / 34 Abstain |
Proposal description
Adverts on Radiolab
1. General Project Information
Plan:
Objective:
To make Dash the first cryptocurrency the general public encounters, thus capturing the space laid out by the slogan Digital Cash.
Project:
According to the Global Cryptocurrency Benchmarking Study created by Cambridge University there may only be 5.8 million users of cryptocurrency worldwide. This points towards their being a vast number of people who have never heard of cryptocurrency. Making Dash the first project to pay for mainstream advertising will give the project a first mover advantage in terms of merchant and user adoption.
I propose to use adverts on Radiolab, a science based podcast with 6.5 million on-demand listens per month and 1.8 million weekly listeners across 505 radio stations to reach a larger general audience than any cryptocurrency has ever had before.
Having spoken with Robert Wiecko, the Project Manager for the Dash Core DAO, we have agreed that if the proposal succeeds the team will be working in conjunction with Dash's official PR firm and once they are appointed the marketing firm too. This is to ensure that our advert fulfils the vision and alings with the narrative being promoted by the firms appointed by Core.
I have spoken with WNYC and they are really excited about the possibility of working with Dash. This is exceptional: none of the other channels and content creators that I have approached are currently interested in working with Dash. Many feel that cryptocurrency represents too great a risk or is not appropriate as an advertiser. The positive response from WNYC strongly suggests that they believe Dash will be putting across a message their listeners will respond to.
There has been a request for more targeted advertising from the community and this fulfils that need by marketing directly to curious, intelligent people who are still largely unaware of Dash and cryptocurrency in general. The statistics compiled in WNYC in their media pack paint a compelling picture of an educated and affluent audience: WNYC Media KIt.
By making contact with the general public Dash can reach out beyond the echo chamber of the crypto-sphere and brings its benefits to the widest possible audience. The adverts will be created to showcase the Core Team’s vision for Dash and the existing uses of Dash for example: remittances, InstantSend, low fees.
Both audible.com and Squarespace are regular advertisers on Radiolab and WNYC’s research into listener reactions shows that advertisers are seen in a positive light because they are supporting quality content. This proposal will allow Dash to take a huge step towards mainstream adoption.
We will run 15 second pre-roll, 30 second mid-roll and 30 second post-roll adverts for 3 months at a cost of $35 $26 CPM with 3.95 million listens and 1.45 million views ($4 CPM) at a total cost of $110,000 for 5.4 million impressions.
Budget:
Dash amounts for the cost of the adverts are based on a 90 day Simple Moving Average = $140, to account for fluctuations in value and ensure that sufficient USD value is available to pay WNYC.
Dash amounts for the advert are now based on the current price with a 2.5 % contingency to allow for price fluctuation. The exact value of the final advertising budget will be determined by the value of USD generated. I am exploring the possibility of partial payment in Dash.
All wages are based on our day rates (£150), they are not flat fees. Dash not used to pay wages will be spent on further adverts or returned to Core.
The use of any excess funds will depend on the success of the adverts, as defined by 2% of listeners visiting dash.org
If successful any remaining funds will be used to buy additional advertising slots on Radiolab.
If deemed unsuccessful remaining funds will be sent to Core to be used to fund the activity of the marketing firm they are appointing.
2. Project Team
Project Manager:
Edward Rapley
00447870375886
ed@edwardrapley.co.uk
Team Members:
Laura Coombs
Marketing Manager
3. Stakeholders
WNYC, MNOs, Dash Core Team, official Dash PR firm, official marketing firm (when appointed)
4. Project Scope Statement
Project Purpose / Business Justification
The purpose of this proposal is to the harness the power of association with Radiolab to bring Dash to a new and expanded audience. Being the first cryptocurrency that people encounter will give Dash a huge advantage, becoming the defining standard by which other currency projects are referenced.
Being easy to use, fast, secure and private Dash can give newcomers a very positive experience, we can make use of the budget this month to conduct a serious advertising campaign that can then be followed up by the marketing firm that Core is appointing.
Radiolab’s educated and passionate audience hold sponsors of the show in a positive light, they are also an audience outside of the cryptosphere allowing Dash to grow without having to fight with other projects.
The first step towards merchant and user adoption is awareness, no one can use a service they haven’t heard of.
Objectives (in business terms)
The promotion of Dash through the creation and inclusion of adverts on Radiolab and analysis of the impact of this on traffic to dash.org
Project Milestones and Schedule
August 2017:
The project cycle will be complete after the adverts have run for 2 months and the report into its effects has been created.
The targets for success will be 2% of adverts translating into additional visits to Dash.org
Major Known Risks
Risk: Low click through rate:
Low Risk. WNYC creates excellent advertising segments.
Mitigation: it is possible to change the advert during the run, so we can tweak the message.
Risk: Failure to generate engagement
Low risk. The script will provide a clear link to follow.
Mitigation: create a simple user journey from hearing the advert to visiting dash.org and downloading a wallet.
Risk: Irresponsible Use of Funds
Low. I will be using a hardware wallet to secure the funds so they are stored securely until sold.
By applying under my own name I am putting my reputation and integrity on the line . I am completely committed to using these funds in accordance with this proposal. I am passionate about being a valued advocate for Dash and to build a life around the promotion of Dash as a solution to the evils of centralised currencies.
Constraints
The schedule of the adverts will be tied to the release of 12.2 so that the reduction in fees can be used as a driver of adoption. Thus the timing will be dependent on the timing of that release.
The timing of the adverts will also rely on the existing advertising schedule on Radiolab.
External Dependencies
The major external dependency is WNYC, Laura Coombs will be in charge of this relationship, WNYC has agreed to this partnership.
Core Team: we will need access to analytics from Core to assess the impact of the adverts on visits to Dash.org. The release of 12.2 is also dependent on Core Team.
5. Communication Strategy
Detailed fortnightly updates throughout the duration of the proposal posted on the dash.org forum.
Internal project management and communication will involve daily use of Asana.
6. Reviews Planned
Monthly reviews using the Dash Project update template.
Overall report compiled on the outcomes of the proposal once the adverts have finished running and analytics have been collected.
Declaration:
I stand by every commitment in this proposal and will see them carried out to the very best of my ability,
Edward Rapley
- UPDATED 07/26 - CPM reduction and increased exposure.
- UPDATED 07/28 - Agreement to work with the PR firm appointed by the Core Team if successful.
1. General Project Information
Plan:
- Working in conjunction with the PR firm appointed by the Core Team:
- Create audio adverts and place them in the popular radio show and podcast Radiolab.
- Create display adverts for inclusion on the website and newsletter.
- They will run for two three months and their impact will be assessed based on traffic to dash.org.
- The content of the adverts will be vetted by the community
- Broadcast quality versions of the adverts will be available for download.
- The timing will be related to the release of 12.2 and the reduction in transaction fees.
- 5.4 million impressions will be generated across audio and display adverts.
Objective:
To make Dash the first cryptocurrency the general public encounters, thus capturing the space laid out by the slogan Digital Cash.
Project:
According to the Global Cryptocurrency Benchmarking Study created by Cambridge University there may only be 5.8 million users of cryptocurrency worldwide. This points towards their being a vast number of people who have never heard of cryptocurrency. Making Dash the first project to pay for mainstream advertising will give the project a first mover advantage in terms of merchant and user adoption.
I propose to use adverts on Radiolab, a science based podcast with 6.5 million on-demand listens per month and 1.8 million weekly listeners across 505 radio stations to reach a larger general audience than any cryptocurrency has ever had before.
Having spoken with Robert Wiecko, the Project Manager for the Dash Core DAO, we have agreed that if the proposal succeeds the team will be working in conjunction with Dash's official PR firm and once they are appointed the marketing firm too. This is to ensure that our advert fulfils the vision and alings with the narrative being promoted by the firms appointed by Core.
I have spoken with WNYC and they are really excited about the possibility of working with Dash. This is exceptional: none of the other channels and content creators that I have approached are currently interested in working with Dash. Many feel that cryptocurrency represents too great a risk or is not appropriate as an advertiser. The positive response from WNYC strongly suggests that they believe Dash will be putting across a message their listeners will respond to.
There has been a request for more targeted advertising from the community and this fulfils that need by marketing directly to curious, intelligent people who are still largely unaware of Dash and cryptocurrency in general. The statistics compiled in WNYC in their media pack paint a compelling picture of an educated and affluent audience: WNYC Media KIt.
By making contact with the general public Dash can reach out beyond the echo chamber of the crypto-sphere and brings its benefits to the widest possible audience. The adverts will be created to showcase the Core Team’s vision for Dash and the existing uses of Dash for example: remittances, InstantSend, low fees.
Both audible.com and Squarespace are regular advertisers on Radiolab and WNYC’s research into listener reactions shows that advertisers are seen in a positive light because they are supporting quality content. This proposal will allow Dash to take a huge step towards mainstream adoption.
We will run 15 second pre-roll, 30 second mid-roll and 30 second post-roll adverts for 3 months at a cost of $35 $26 CPM with 3.95 million listens and 1.45 million views ($4 CPM) at a total cost of $110,000 for 5.4 million impressions.
Budget:
Dash amounts for the cost of the adverts are based on a 90 day Simple Moving Average = $140, to account for fluctuations in value and ensure that sufficient USD value is available to pay WNYC.
Dash amounts for the advert are now based on the current price with a 2.5 % contingency to allow for price fluctuation. The exact value of the final advertising budget will be determined by the value of USD generated. I am exploring the possibility of partial payment in Dash.
All wages are based on our day rates (£150), they are not flat fees. Dash not used to pay wages will be spent on further adverts or returned to Core.
- 3 months of adverts: 565 Dash
- Project Manager: 25 Dash (up to 25 days @ 1 Dash)
- Marketing Manager: 20 Dash (up to 20 days @ 1 Dash)
- Audio advert creation: 10 Dash (10 days @ 1 Dash)
- Display advert creation: 5 Dash
- Travel: 10 Dash
- Proposal Fee: 5 Dash
- 2.5% Contingency: 15 Dash
The use of any excess funds will depend on the success of the adverts, as defined by 2% of listeners visiting dash.org
If successful any remaining funds will be used to buy additional advertising slots on Radiolab.
If deemed unsuccessful remaining funds will be sent to Core to be used to fund the activity of the marketing firm they are appointing.
2. Project Team
Project Manager:
Edward Rapley
00447870375886
ed@edwardrapley.co.uk
Team Members:
Laura Coombs
Marketing Manager
3. Stakeholders
WNYC, MNOs, Dash Core Team, official Dash PR firm, official marketing firm (when appointed)
4. Project Scope Statement
Project Purpose / Business Justification
The purpose of this proposal is to the harness the power of association with Radiolab to bring Dash to a new and expanded audience. Being the first cryptocurrency that people encounter will give Dash a huge advantage, becoming the defining standard by which other currency projects are referenced.
Being easy to use, fast, secure and private Dash can give newcomers a very positive experience, we can make use of the budget this month to conduct a serious advertising campaign that can then be followed up by the marketing firm that Core is appointing.
Radiolab’s educated and passionate audience hold sponsors of the show in a positive light, they are also an audience outside of the cryptosphere allowing Dash to grow without having to fight with other projects.
The first step towards merchant and user adoption is awareness, no one can use a service they haven’t heard of.
Objectives (in business terms)
- To have at least 3.9 million listeners hear 45 to 75 seconds of audio advertising for Dash.
- To generate a click through rate of 2%, thus 3.9 million content views will generate 78,000 visits to Dash.org
- A personal and business partnership with the high value content creators at WNYC.
- A powerful and persuasive Dash audio advert in several forms:
- Versions created by WNYC listeners
- Recorded by multiple voice actors to be used by anyone in the Dash community
- 3.9 million Radiolab listeners encountering Dash in a positive context
- 78,000 visits to dash.org
The promotion of Dash through the creation and inclusion of adverts on Radiolab and analysis of the impact of this on traffic to dash.org
Project Milestones and Schedule
August 2017:
- planning and creation of the advertising script
- meetings with WNYC - introducing Dash and building relationships
- Creating and signing contracts
- Adverts can begin from here outwards.
- Dash.org analytics collected
- Impact assessment created once adverts are running
The project cycle will be complete after the adverts have run for 2 months and the report into its effects has been created.
The targets for success will be 2% of adverts translating into additional visits to Dash.org
Major Known Risks
Risk: Low click through rate:
Low Risk. WNYC creates excellent advertising segments.
Mitigation: it is possible to change the advert during the run, so we can tweak the message.
Risk: Failure to generate engagement
Low risk. The script will provide a clear link to follow.
Mitigation: create a simple user journey from hearing the advert to visiting dash.org and downloading a wallet.
Risk: Irresponsible Use of Funds
Low. I will be using a hardware wallet to secure the funds so they are stored securely until sold.
By applying under my own name I am putting my reputation and integrity on the line . I am completely committed to using these funds in accordance with this proposal. I am passionate about being a valued advocate for Dash and to build a life around the promotion of Dash as a solution to the evils of centralised currencies.
Constraints
The schedule of the adverts will be tied to the release of 12.2 so that the reduction in fees can be used as a driver of adoption. Thus the timing will be dependent on the timing of that release.
The timing of the adverts will also rely on the existing advertising schedule on Radiolab.
External Dependencies
The major external dependency is WNYC, Laura Coombs will be in charge of this relationship, WNYC has agreed to this partnership.
Core Team: we will need access to analytics from Core to assess the impact of the adverts on visits to Dash.org. The release of 12.2 is also dependent on Core Team.
5. Communication Strategy
Detailed fortnightly updates throughout the duration of the proposal posted on the dash.org forum.
Internal project management and communication will involve daily use of Asana.
6. Reviews Planned
Monthly reviews using the Dash Project update template.
Overall report compiled on the outcomes of the proposal once the adverts have finished running and analytics have been collected.
Declaration:
I stand by every commitment in this proposal and will see them carried out to the very best of my ability,
Edward Rapley
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Discussion: Should we fund this proposal?
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https://www.dash.org/forum/threads/proposal-adverts-on-radiolab.15941/#post-135090
I'll be creating a rough 1st draft recording in a couple of styles over the next two days and releasing it to get feedback from the community.
My first report will be released on Friday 4th of August at https://www.dash.org/forum/threads/proposal-adverts-on-radiolab.15941/
In addition when a marketing agency is appointed by Core we would also be working in collaboration with them.
It is important to note that 73.1% of listeners have a bachelor's degree or better: this is a highly educated audience, exactly the kind Dash will appeal to.
Using the full value of Dash (currently @ $195) we can generate 5.4 million impressions over 3 months across audio and display adverts at a cost of $110,000.
This still allows for staff costs to be met and allows for the price of Dash falling $10 before the budget needs revising.
I think the new budget is better value for the network and while still managing the risks of the price falling.
Having introduced a bunch of non-crypto people to Dash in the last couple of months I have found it's actually pretty easy, people are motivated and the barriers to entry are much lower than it seems.
The final results of the Circus City proposal will be published in mid-November, in the meantime the July update will be presented before the end of the month.
I recognise that voting yes involves placing trust in my ability to deliver, all I can say is that I'm inspired by the potential of Dash as a technology that can liberate people and I'm determined to share it with a world that needs it.
Edward: Negotiate harder with Radiolab. Ask for more views, more mentions, more integration with their website/podcast, more exposure. If they won't lower the price, they will sweeten the offering, but you must play hardball. The deal they're offering you is not top shelf.
I take what you're saying to heart about our fees, we will be justifying them fully with the quality of the work we do and the impact we create.
Both Laura's and my own standard day rate is £150 so we were taking a small cut when we placed the proposal. Also I should have made it clearer: we are not taking flat fees and will only be paying ourselves for the days we work.
150 pounds/day is perfectly reasonable, but this will not be a full time job. It's a single deal that will take some initial setup and supervision. For example, in a standard marketing department, an ad purchasing manager might make the same £150/day, except they'd be responsible for acquiring and managing 10-15 such deals concurrently.
Best of luck. I'm happy to see you going in this direction.
If we add this proposal more than 100 thousand $ and that of mr. TonyG 300 thousand
With 400 thousand $ can be made ads in national TV in the USA.
And it's the advertising that impacts the most.
On the other hand, the ads should be focused on:
1) Dash = product
2) Dash is better than Paypal
3) Ads should not focus on Dash as currency.
Note:
It is curious that proposals of more than 100 thousand dollars appear 6 - 8 days before the end of the cycle of proposal.
Little time to debate.
The adverts will indeed focus on Dash as a product and a service, highlighting those areas where it has a competitive advantage.
I will be using as much of the budget as possible to get extra exposure on Radiolab, only paying myself for the days I work rather than a 30 Dash flat fee.
This is a get rich slowly scheme for me, I want to prove the value my proactive approach can bring to Dash, so I can keep building connections for the network and help bring the benefits of this technology to as many people as possible.
Circus City is progressing really well and I will be posting the July report on the 31st.
This proposal stands on it's own merits and I'm working with a very talented marketing manager to ensure we reach the audience Dash deserves.