Unawarded [GROWTH-FIXER-001] Marketing Strategy including Content

Status
Not open for further replies.
Secured
#1
I'm very excited to announce our first Grant Proposal regarding Marketing Strategy including content. You might know me from my first work in the Marketing Committee on the Paid Marketing Campaign that will go live beginning of February.

With this Grant we would like to have a Marketing Strategy ready within 3 months after Grant Payout that is (by then) already being executed on. The following will be created:
  • Long-term marketing strategy based on data from paid marketing campaign, including proposition, competitor analysis, target market defined by 3 persona, targeting strategy plus a media strategy;
  • Template for social content;
  • Create scalable and transparent growth process;
  • Running at least 15 experiments through the growth process;
  • 3 animation explainer videos (40s) about Factom use cases;
  • Social media content to promote every use case and animation video;
  • Infographic about Factom Protocol.
I'm more than happy to answer any questions you might have.

GRANT PROPOSAL EDITED 2019-02-05: Added more clarity about growth objectives. See post on 2019-02-05 19:15 by Vince.

As required by document 153 that governs Factom grant round 2019-01: This is the thread for grant proposal FACTOM-GRANT-GROWTH-FIXER-001. The review process starts at 2019-01-31 00:00, so please refrain from starting public review or questions before that time. If you notice clear errors in the proposal you can contact the author of the grant proposal directly.
 

Attachments

Last edited:
Secured
#2
Hi Vince.

1. Do you have links to videos that you guys have produced in the past ? I'd like to see the quality of the material you would be about to produce.

2. You say there is no competition in the video production but at this time there is 3 grants with the objective to produce videos. Are any of your videos going to be duplicated by competing grants ?
 
Secured
#3
Hi Miguel, thank you for your questions.

1. You can find our previous work here. We've worked with different brands, for different styles and goals. There's a mix between commercial and explanatory. We'll go through a process to find out what style fits the Factom Protocol brand together with the marketing committee and everyone that wants to be involved. For an overview of other work than the animation videos please see section 'Organization or Person info'.

2. We will be creating a video series for use cases, and that's not competing with grants or working groups. We did know of grants that are similar to ours, but there's no overlap/competition with what we'll be creating: marketing strategy and content for that strategy. Actually, it will help us with our strategy if they're accepted. Plus we checked with the Marketing Commitee if there's also no overlap with working groups.

As mentioned under 'Competition & collaboration':
- Grant FACTOM-GRANT-FACTOM-MARKETING-COMMITTEE-002 will produce an explainer video. We are one of the companies that sent a quote for that grant. If we are chosen, it will only make it easier for us to create the use cases explainer videos as the style will be similar.
- Grant FACTOM-GRANT-FACTOMIZE-001 will produce five 30-45 second videos about Factom Protocol, we will only be creating an infographic on this topic.

If you have any further questions, feel free to reach out!
 
Secured
#4
Thank you for your proposal.

This is a generic question I ask in each grant thread.
This is currently the 3rd grant round. I consider that one of the very important criterion to select a grant (apart from its potential value) is the capacity of the grantee to deliver in time what it pledged. Therefore past grants can be used as an indicator.

If you did receive grants in previous rounds, could you please fill the following fields? This would increase transparency and help the standing parties to select grants.

- Have you, or one of your partners, previously received grants : Yes/No. If No, then you can stop here :)
- List of grants received : grant X1 from round Y1, grant X2 from round Y2...
- Status for each grant : grant X1/Still ongoing or Completed, grant X2/....
- Description of the work accomplished so far and Links supporting it : Discord Group/Factomize thread/Github/Reports/...
- Description of the residual work to be completed : XXXXXX

Thank you for your cooperation.
 
Secured
#6
Suggested by Nolan, I would like to recap something that's unfortunately buried on Discord:

In response to this news article about 'Altered' documents from inside Mueller probe fed Russian disinformation campaign the community asked on #general-protocol-chat if the marketing committee could use this as an opportunity to promote Factom in the news cycle. Unfortunately, there's not enough resources available to do this within a couple hours.

As mentioned with this grant, I would like to create a media strategy (step by step guide for what to create and who to reach out to). We (Laurens and I) will be responsible for most steps. This means that if such a news cycle opportunity arises in the coming 3 months, we are ready to create a blog post, visuals for social/press and send it out to relevant press. All within a couple hours after the news.
 
Secured
#7
Hey Vince, black&white here. You know I'm the first to support this grant and mainly because of you. You've shown amazing work ethics and dedication in the little time that you've been contributing and that's refreshing to see, specifically in marketing where the community was lacking. So I'm with you on this.

Still, I have to voice my concerns and feedback:

This is a $56000 grant with the FCT price you used (I understand the risk there) for what is basically a marketing strategy and a few pieces of content that will be created. I don't see how this makes sense. The core work happens after a v1 marketing strategy is set and the latter doesn't cost $55k. A lot more so knowing that it's ever changing and that a paid marketing campaign could reveal some insights but not all and it certainly won't set our marketing strategy for good.

The way I see it, the Paid Marketing Campaign is part of the Marketing Strategy already and so in that sense it's not that the Campaign will help you set a strategy but that the Campaign is the first activity from this Strategy that will reveal some insights. There are many Activities that can be done to reveal insights that will continuously optimize our marketing strategy.

So what this grant should be (for me at least) is actually the hiring of Growth Experts to kickoff "insights hunting". Your grant mentions creating articles and releasing to the press, etc... A lot of valuable hours can be put creating PR connections and Influencer connections to help boost all of the "content creation" work. What comes after "Content Creation" is what brings in results and give us insights and learning.

Similarly, we want Developers? Paid Marketing to get them is one thing, integrating dev communities and trying to get there from there is another time. Going to another failing project and getting their developers is another thing. There are SO many strategies for each Persona. With each one having their own specific end goal. The Paid Marketing Campaign won't really give us insights on the best strategy to attract each Persona, it's simply a paid/easy way to start attracting our target market to our Marketing Funnel.

Again, I see this grant as Continuous Growth work for Factom where the deliverables are not just the Strategy but actually starting off on the different activities. I simply would never charge a client so much for a marketing strategy. I would set Key Actions to take and start taking them while new insights are revealed to me.

Your Grant puts all the focus on the Strategy work while the focus should be on how much time you will be spending gaining insights and testing out different "Activities" or "Growth Hacks".


So that's basically it. More clarity on this would be great. Amazing job Vince <3
 
Secured
#8
Hi liveanddie/black&white (I see a trend in your nicknames ;)),

Great questions, thanks. Apologies for a long post coming in, but I can't answer them without elaborating on my view of marketing. To make sure I understand you correctly, let me summarize the main points in your concerns:
  1. I think it's better to go for "insight hunting" instead of strategy building.
  2. What we miss are Growth Experts, PR and Influencer connections to help boost content. Which leads to insights and learning.
  3. How much time is spent on strategy versus insights, activities and 'growth hacks'.
  4. I would never charge a client so much for a marketing strategy. Why do you charge $56.000 for a marketing strategy and some content?
  5. You're doing an amazing job.
Let me start with point 5. Thank you :p

Ok, on a serious note. Point 1: I think it's better to go for "insight hunting" instead of strategy building. I made the decision to not elaborate in the grant about what I think a good strategy is, because I didn't want the proposal to be too long. So I'm happy you ask this. As you can see on my website, I base my data-driven strategies on the methods of Growth Hacking. Translation for developers: it's being agile in your marketing approach. No long processes, documents or whatever, just try things out asap. To minimize the risk and get results early.

So yes, I agree with you that we should be hunting for insights. But how will you make sure people know which experiments are running and who's responsible for which part of the experiment? How do you make sure the results/insights can be interpreted in the right way? There needs to be a strategy that includes a process that helps us 'hunt insights' as you call it. And I agree with you that that's a great way for marketers to grow a company or protocol. Besides that, the commitee needs to be trained. In my marketing strategy, I'll definitely advice for an agile/growth hacking/lean startup approach: experiment, experiment and experiment.

That brings me to point 3: What we miss are Growth Experts, PR and Influencer connections to help boost content. Which leads to insights and learning. I agree and know from experience that this can be valuable. And should definitely be one of the experiments we'll be running. However, I don't think I'm the one who should be doing it. I might be gone after 3 months if I'm not allowed as ANO or awarded a new grant. I should be focusing on building a fundament and help the committee to create a strategy (including processes) to experiment what works for us.

I have ideas on how to involve everyone in the community to add ideas (turning into experiments) to a centralized document for the marketing committee. If I can get this fundament to happen within 3 months, I think that's way more valuable than hiring growth experts and start hunting insights right away. And that's what my grant is about. Of course, I will have time left for doing the real work: running experiments. To try the processes we created and see if they work. But I can unfortunately not tell yet how much time the strategy will take. What I can assure you is that I will spend my time wisely and that I will spend it on the things that have a long-term impact. That it can continue when I'm gone. But hopefully, I'll be accepted as an ANO or awarded a new grant and I can happily continue the strategy.

That hopefully also answers your main question: How much time is spent on strategy versus insights, activities and 'growth hacks'. I will assure you that I will work on it, and that I agree that the approach of Growth Hacking is the one we should be taking. Again, see my website, it's how I work.

Also, don't forget it takes time and energy to come to a well-designed strategy and process. This is not a client that has a clear product, knows their persona and is ready to get the marketing machine going. I need to speak to people in different timezones. Where responsibilities lay in different time zones or responsibilities lay nowhere yet. We're still figuring it out. And I need to get that car moving. Which is what I like to do, so that's nice. But that does also mean that it won't be as easy as a start-up where everyone is in the same room and responsibilities are clearer. This is the reason I take a little bit extra time for creating the strategy, but I'll spend my time wisely.

And as last, point 4: I would never charge a client this much. Why do you ask $56.000 for a marketing strategy and some content? As mentioned in the Grant, I ask 5600FCT for myself and 3750FCT for Laurens. As reference, the Marketing Committee asks 3000FCT for one explainer video of 2 minute. Laurens delivers 3 times Explainer Videos (40 seconds), templates and social content. Plus, he'll always be ready to create social content if an opportunity arises. And he's helped with the visuals for the paid marketing campaign for a very small reward. For myself, I ask 5600FCT. I see that as a fair compensation for the work I'll be doing for 3 months that I explained above, the work I've done in January and will be doing in February for the paid marketing campaign (even if the grant gets denied) and the risk I'm taking with FCT as salary.

I hope I clarified it enough for you, and I appreciate you challenging me on being more clear. I'm happy you did, because it gave me a chance to elaborate on what I like to do the most: digital growth marketing. If you have any further questions or concerns, please let me know!
 
Secured
#9
Hi Vince!

Thank you for your application. I like yours (and Laurens') previous work and it's great to see non-ANO applications in this grant round.

I am no marketing expert, but I believe that the marketing strategy for digital growth of the protocol should be done by people very familiar with the protocol and that there should be a mixture of technical & marketing people that are responsible for preparing the materials. Have you considered partnering with some of the ANOs who can help you navigate the protocol and provide feedback?

I'm asking this because I noticed several unfortunate mistakes in some of the work you have done already, e.g. the claim that
Factom is one of the most decentralized blockchain projects in existence, which is, I must say, completely wrong.

Screenshot from 2019-02-05 01-26-57.png
I also disagree with the second claim made below, as the Factom protocol is not really suitable for data sharing. While technically possible, it's actually not well suited for storing and thus sharing very large amounts of data at all due to the limit in the size of the entries at ~10KB.
Screenshot from 2019-02-05 01-27-29.png

Overall, I think your application might have a better chance of getting approved if you would consider:
  • adding a sponsor or better yet some sort of "supervisor" to the project, who can approve of the deliverables. Bonus points if the approval comes from ANOs that have marketing and technical background
  • consider splitting the proposal into multiple components (e.g. explainer videos + infographic is one proposal, marketing strategy is a second proposal, etc.)
  • consider reducing the asking price. Looking at some of the past grant applications, I feel the asking price of 9300+ FCT for your application is currently quite high
  • consider framing the proposal with a performance-based bonus: i.e. you receive a portion of the tokens at grant payout, but there is a second payout if the standing parties have a positive feedback about your work, in particular the marketing strategy that will be devised
 
Secured
#10
I agree with what your saying in principle @Valentin Ganev , though I would say that an assertion that "Factom is one of the most decentralized blockchain projects in existence " isnt so much wrong as it is a complex question. There are so many ways to look at decentralization (codebase development, codebase distribution, legal, social, consensus, "mining pools", etc), so I don't think its fair to say that that is a mistake made in the content here. I would in fact actually agree with the assertion that this is one of the most decentralized blockchains.
 
Secured
#11
I agree that decentralization is a multi-faceted concept. Even with that in mind, Factom has many benefits, but decentralization is definitely not it's forte:
  • we are a permissioned blockchain
  • we currently have no on-chain governance mechanism for determining who has the right to write to the blockchain (i.e. you have to go through an off-chain vetting process to become an ANO)
  • we have about 140-150 peers in the network (I think)
  • we are only now starting to decentralize development
I could go on...

I'm not saying any of the above properties is necessarily bad. Factom is not centralized post M3 and will be getting more decentralized with onboarding of further ANOs, core developers, the upcoming non-profit, etc. However, saying that Factom is "one of the most decentralized blockchain projects in existence" is plain wrong at this point and I stand by my statement. There are so many other advantages of the protocol that we should be listing before we get to the point of decentralization, when it comes to marketing materials:
  • stable pricing
  • utilizing the protocol without touching cryptocurrency
  • cheap & efficient tokenization platform
  • companies with vested interest building on the protocol
  • cheapest price per KB of data recorded (as far as I know)
  • language agnostic with libraries in Javascript, Python, Java, Go, etc.
My point is that decentralization definitely should not be on the list of marketing materials we advertise and there are much stronger selling points for the protocol right now.
 
Secured
#12
While all of the things you listed are certainly true, when I start stepping through other blockchain projects, I can list out a litany of marks against them as well. I think the real answer here is that all of blockchain is very immature, and I still stand by my statement as well that factom is one of the most decentralized ;) , as that is a relative statement against these other immature projects.

This is a very interesting conversation that I would love to have (probably not here though).

There are so many other advantages of the protocol that we should be listing before we get to the point of decentralization, when it comes to marketing materials:
Thats one we can agree on off the bat though ;)
 
Secured
#14
Hi Vince!

Thank you for your application. I like yours (and Laurens') previous work and it's great to see non-ANO applications in this grant round.
Hi Valentin, thank you for your feedback. I appreciate the suggestions, but I disagree with them and I will explain why. I'll skip the discussion about decentralization and run straight into your points.

Marketing strategy should be done by people very familiar with the protocol.
  • I think it's very unfair to think I'm not familiar with the protocol and not capable of running marketing campaigns for the protocol based on 2 'mistakes' you found in a 17-page document plus attachments. And both claims aren't really mistakes, as there's arguments that the protocol is decentralized and the second should've been phrased more clearly. I know we don't put data on the blockchain, but we thought that sharing data easily is an interesting unique selling point (USP) for this type of persona. Also don't forget that I created this strategy together with the marketing committee and community in the Factom Marketing Discord channel. There's been several moments where feedback is given by multiple people.
Adding a sponsor or better yet some sort of "supervisor" to the project, who can approve of the deliverables. Bonus points if the approval comes from ANOs that have marketing and technical background.
  • There is a "supervisor" to the project: the Marketing Committee. Everything will be made together with and for them. But I will be responsible. Like I did with the paid marketing campaign, I'll continously ask feedback on the Factom Marketing Discord server. Also, I checked with chair of the committee (Ben) if these tasks are overlapping/competing with current projects.
Consider splitting the proposal into multiple components (e.g. explainer videos + infographic is one proposal, marketing strategy is a second proposal, etc.).
  • I've considered it and I have a reason to not split the proposal. Laurens and I are a good team and we strengthen each other. We have our own specialisms, but we also help each other. Plus, a strategy is nowhere without the right content to go with it. He'll be delivering more than you stated: 3 times Explainer Videos (40 seconds), templates, infographic, social content plus, he'll always be ready to create social content if a media opportunity arises.
Consider reducing the asking price. Looking at some of the past grant applications, I feel the asking price of 9300+ FCT for your application is currently quite high.
  • See my reply to liveanddie for why I think this price is reasonable. I think we're worth it and add way more value to the protocol than what we're asking for.
Consider framing the proposal with a performance-based bonus: i.e. you receive a portion of the tokens at grant payout, but there is a second payout if the standing parties have a positive feedback about your work, in particular the marketing strategy that will be devised.
  • I hope my work with the paid marketing campaign shows how I can perform or feel free to ask the people that I worked with. I am not comfortable with performance-based bonuses because my work also relies on people from the Protocol. If they lack, get sick, demotivated or whatever - that will affect my work and therefore my bonus. I don't feel comfortable with that.
Thank you for your suggestions. I want to emphasize that I am familiar enough with Factom and know how to get the right information if needed. If you have any further questions, feel free to reply.
 
Last edited:
Secured
#15
After a good discussion with liveanddie (on Forum) / black&white (on Discord) I've changed the proposal by adding what I'll be doing on the growth strategy/process part:

Added 2 objectives
  • Create scalable and transparent growth process;
  • Running at least 15 experiments through the growth process;
Growth Strategy and Process
In order to get the marketing activities started, Vincent will spend his time on creating a scalable and transparent growth strategy. The goal of the growth strategy of a startup is to try different tactics by experimentation. This means that a growth process will be created and experiments will be executed during the 3 months.
 
Secured
#17
Hey Vince, as someone that isn't very well versed in all things marketing, could you please let me know what you mean when you refer to experiments? Also, could you provide a few examples of experiments you would foresee yourself/Laurens conducting?
 
Secured
#18
I appreciate your reply, Vince. I was hoping for a different feedback, please see my comments below.

  • I think it's very unfair to think I'm not familiar with the protocol and not capable of running marketing campaigns for the protocol based on 2 'mistakes' you found in a 17-page document plus attachments. And both claims aren't really mistakes, as there's arguments that the protocol is decentralized and the second should've been phrased more clearly. I know we don't put data on the blockchain, but we thought that sharing data easily is an interesting unique selling point (USP) for this type of persona. Also don't forget that I created this strategy together with the marketing committee and community in the Factom Marketing Discord channel. There's been several moments where feedback is given by multiple people.
I would have expected that your answer is somewhat more nuanced based on the discussion above and the points that were raised. Of course, there are arguments that the protocol is decentralized, however, I am really struggling to see the arguments for it being "one of the most decentralized blockchain projects in existence", which is a much stronger claim. These arguments must be very convincing if they led to putting that claim on the banners for the paid marketing campaign. Could you please mention two aspects of the protocol that in your opinion make it one of the most decentralized blockchain projects in existence and led to this decision?

As for sharing data easily: this is not a USP of the protocol (or of any blockchain for that matter). Data sharing is a USP of the Internet and is not enabled by blockchains. What is facilitated by some blockchains and the Factom protocol in particular is ensuring the integrity of the data that might be shared between parties via different channels.

Those two 'mistakes' are not typos but IMO demonstrate wrong prioritization of the strengths & purpose of the protocol (and blockchains in general). When you are asking for 9300+ FCT for the creation of marketing content and a marketing strategy and you quote your previous work as examples of the quality you will produce, you should expect considerable scrutiny of your previous deliverables and they must be of the highest quality. Discarding my comments as "2 'mistakes' I found in a 17-page document plus attachments" as if those mistakes are completely inconsequential is honestly not the answer I was hoping to see :(

  • See my reply to liveanddie for why I think this price is reasonable. I think we're worth it and add way more value to the protocol than what we're asking for.
I saw the reply, but thought that if a second person brought this up, you might have reconsidered. You should ask for whatever price you feel your work is worth, but when evaluating grants, those must be taken in the context of other applications. When I look at some of the previous or current grants, this is what I see:
  • MyFactomWallet development + On-chain voting UI: 45K USD (actually less due to exchange rate at time of payout)
  • Factomize video production (greater total length than the videos you plan to produce; I understand there's more content you're producing): 500 FCT
  • On-chain voting spec + JS implementation (3/4 ANOs involved): 40-50K USD (actually less due to exchange rate at time of payout)
  • DID development (by 2 ANOs + 1 external partner): 8500 FCT
  • 6 months of FAT protocol development (Luciap): 4250 + 3200 = 7450 FCT
  • 6 months of FAT protocol development (Canonical Ledgers): 4000 + 7750 = 11750 FCT
The above are only a few examples, and to be honest the numbers just don't add up in my opinion.

Based on the above, I'm afraid Factomatic cannot support this grant as it currently stands.
 
Last edited:
Secured
#20
Hey Vince, as someone that isn't very well versed in all things marketing, could you please let me know what you mean when you refer to experiments? Also, could you provide a few examples of experiments you would foresee yourself/Laurens conducting?
Hi Nic, thank you for the question. I'm more than happy to explain and I hope it's clear after this post. Normally I have a 1,5 hour workshop planned for this, so feel free to ask any question if it's unclear.

I think introducing the principles of Growth Hacking to the Marketing Committee would be very interesting. The idea of Growth Hacking is copied from both Lean Startup and Agile, and to explain it best I have an example of a company that executes it very well: Booking.com. Let's be honest, the website will never win the price for best-designed website of the world. But it is very effective! They run 1,000 experiments at the same time on their website, continously testing what leads to a better customer flow. Same for Jeff Bezos, CEO of Amazon: "If you double the number of experiments you do per year you're going to double your inventiveness.” Both Booking and Amazon have structured their company to run as much experiments as possible.

Why do you run experiments? Because you can't know in advance what works and what doesn't. You need data to prove it, and to get this data you run experiments. You also don't want to take much risk before knowing what works and what doesn't. Another example: Until 20 years ago, the way to get a commercial on television was as follows. You pay A LOT to a creative agency to create a TV commercial. You pay A LOT to a media agency to get it on the television. And afterwards you know the results of the million dollar campaign you ran. Nowadays companies choose to first test different commercials with different audiences on YouTube. With this information they go to media agencies with a lower budget to get the same result with the best performing ads. They already know this performs well with their audience. The results improve significantly with the same budget.

If you really find someone who can tell you in advance what marketing tactic will work and what doesn't, this person would've been a billionaire. The reason this became popular in the last years is because the digital tools make it possible to test these experiments on a big scale in very limited time. It's also why the most popular advertising tools of Google and Facebook focus on optimization, they want you to write multiple ads, with multiple visuals and landing pages. Test, test, test!

So how does this translate to Factom - what kind of experiments will we run? This is a process we'll go through, but you can think of things like: 'Which unique selling point in an advertisement generates the most clicks from developers?'. Which will give me insights about what developers find interesting about Factom and therefore I can write more articles about that subject (and inform ANOs that this is a topic they should emphasize in their vacancy).

So that leads to a new experiment 'Which article is the most interesting to developers?'. Which I can calculate e.g. by looking at the time they're on page and the click-through-rate (amount of clicks devided by people who've seen it). And that leads to new experiments etc. etc. etc.

It's scientifically proven that running more experiments lead to more effective marketing efforts. I'll create a process where one person is responsible for running experiments (preferably a social person that knows how to deal with data), you can use people from the marketing committee and everyone who wants to help. They don't have to deal with setting up experiments, reporting results and action items based on the learnings.

I hope it's a bit more clear now and feel free to ask any other questions you might have.
 
Secured
#23
Question #3: You mentioned "Running at least 15 experiments through the growth process".
Can you provide the experiments list (not all, but e.g. 10 of total 15 experiments)?
You can describe it in general or using examples.
I want to find out are there unique 15 experiments, or few uniques and some kind of modifications? Or how does it work at all.

I hope I convey the idea of the question :)
 
Secured
#24
I appreciate your reply, Vince. I was hoping for a different feedback, please see my comments below.
Hi Valentin,

Could you please mention two aspects of the protocol that in your opinion make it one of the most decentralized blockchain projects in existence and led to this decision?
How did we get to the point that I have to prove I know how Factom works by answering such questions :) I'm sorry, I really appreciate your feedback but my point was that I worked with 5 other people on this strategy and we chose to use these USPs. Please keep in mind that it's not on a billboard next to the highway, but it's in a advertising tool that optimizes based on how people react to it. It's also a working document and this discussions will be reopened for the next time we'll use the persona.

Those two 'mistakes' are not typos but IMO demonstrate wrong prioritization of the strengths & purpose of the protocol (and blockchains in general). When you are asking for 9300+ FCT for the creation of marketing content and a marketing strategy and you quote your previous work as examples of the quality you will produce, you should expect considerable scrutiny of your previous deliverables and they must be of the highest quality. Discarding my comments as "2 'mistakes' I found in a 17-page document plus attachments" as if those mistakes are completely inconsequential is honestly not the answer I was hoping to see :(
Okay thanks for the feedback, it's appreciated. If this grant gets approved I'll definitely reach out for your feedback as it's clearly different than those that have participated in the feedback rounds until now. This only leads to better documents.

You should ask for whatever price you feel your work is worth, but when evaluating grants, those must be taken in the context of other applications. When I look at some of the previous or current grants, this is what I see:
  • MyFactomWallet development + On-chain voting UI: 45K USD (actually less due to exchange rate at time of payout)
  • Factomize video production (greater total length than the videos you plan to produce; I understand there's more content you're producing): 500 FCT
  • On-chain voting spec + JS implementation (3/4 ANOs involved): 40-50K USD (actually less due to exchange rate at time of payout)
  • DID development (by 2 ANOs + 1 external partner): 8500 FCT
  • 6 months of FAT protocol development (Luciap): 4250 + 3200 = 7450 FCT
  • 6 months of FAT protocol development (Canonical Ledgers): 4000 + 7750 = 11750 FCT
The above are only a few examples, and to be honest the numbers just don't add up in my opinion.
I don't want to get in a race where I will be showing you there's also grants that ask sort of the same ('LAYERTECH-001', where 1 developer cost 5500 FCT for 3 months. Or the grant from 'SPHEREON-002' with a half-time project manager for 3 (half) months for 2000 FCT). It makes sense that they ask approximately the same as I do. Besides pricing, you could also look at the following things:
  • Will this grant be able to execute right away or is there a training period? (e.g. for new core developers)
  • What will they be able to deliver? (I heard the core code is not easy to read yet, so how will really be delivered in 3 months)
  • What's the value of the deliverables? (in the end, you want a nice ROI)
And don't forget that ANOs get a monthly fee from the protocol. Developing stuff helps their business model as well, they actually get paid a monthly fee to create stuff that they can then sell to clients. I am working for you here. Everything I create is for the Factom Protocol and will not help me with new business like development does. Again, please also pay attention to the ROI of my grant in stead of the costs.
 
Secured
#25
Thanks for your questions Anton, see the replies below!

Question #3: You mentioned "Running at least 15 experiments through the growth process".
Can you provide the experiments list (not all, but e.g. 10 of total 15 experiments)?
You can describe it in general or using examples.
I want to find out are there unique 15 experiments, or few uniques and some kind of modifications? Or how does it work at all.

I hope I convey the idea of the question :)
Good questions! I don't mean experiments like: 'Test how many clicks a post on Reddit generates?', but way more in-depth like the two examples I've given: 'Which unique selling point in an advertisement generates the most clicks from developers?' and 'Which article is the most interesting to developers?'. Things that add value on the long-term.

Don't expect it to be experiments that take me 15 minutes to complete. And there'll be a process where there can be voted on the experiments, so you will have a say in what will be done. We're going to make marketing activities more transparant :)

Question #2: what tech-stack are you going to use to make this experiments for Factom? In other words, how will you do it?
We'll make use of the free versions of Google Analytics and G Suite in the beginning. Mostly Google Sheets. As soon as the process is working and we see the need for better tools, we'll move to more professional tools. Not sure which one, because it depends on how many people will be working on it and what the best process is. But it won't be very expensive.

See my answer on the next question for an example of documents we'll most-likely be using.

@Vince
Question #1: could you provide the portfolio or reports of such experiments for your clients? (you may hide clients names if there are NDA).
The experiments differ per client and what I think will answer your question better (please let me know if it doesn't) is to show you how it'll look like. This is 2 templates I created myself and work with in the beginning with clients. Here is the document to gather ideas and this is the document for experimentation.

So we'll be testing assumptions. And as assumptions differ per client, it also results in different experiments. Hopefully this answers your questions. If not, please let me know.
 
Secured
#26
Thanks for your questions Anton, see the replies below!


Good questions! I don't mean experiments like: 'Test how many clicks a post on Reddit generates?', but way more in-depth like the two examples I've given: 'Which unique selling point in an advertisement generates the most clicks from developers?' and 'Which article is the most interesting to developers?'. Things that add value on the long-term.

Don't expect it to be experiments that take me 15 minutes to complete. And there'll be a process where there can be voted on the experiments, so you will have a say in what will be done. We're going to make marketing activities more transparant :)


We'll make use of the free versions of Google Analytics and G Suite in the beginning. Mostly Google Sheets. As soon as the process is working and we see the need for better tools, we'll move to more professional tools. Not sure which one, because it depends on how many people will be working on it and what the best process is. But it won't be very expensive.

See my answer on the next question for an example of documents we'll most-likely be using.


The experiments differ per client and what I think will answer your question better (please let me know if it doesn't) is to show you how it'll look like. This is 2 templates I created myself and work with in the beginning with clients. Here is the document to gather ideas and this is the document for experimentation.

So we'll be testing assumptions. And as assumptions differ per client, it also results in different experiments. Hopefully this answers your questions. If not, please let me know.
Vince, we have very different definitions of experiments. In Growth Hacking, experiments would be something like: "Factom Case Studies/Ebook". This is an experiment and the analysis of it would be similar to the questions you wrote. Experiments are Growth Strategies, not insight strategies.

https://blog.hubspot.com/sales/growth-hacking-websites
https://www.pipefy.com/blog/pipefy-features/manage-growth-hacking-experiments-with-pipefy/
https://www.pipefy.com/templates/growth-hacking-experiments/
 
Secured
#29
Thanks for your questions Anton, see the replies below!


Good questions! I don't mean experiments like: 'Test how many clicks a post on Reddit generates?', but way more in-depth like the two examples I've given: 'Which unique selling point in an advertisement generates the most clicks from developers?' and 'Which article is the most interesting to developers?'. Things that add value on the long-term.

Don't expect it to be experiments that take me 15 minutes to complete. And there'll be a process where there can be voted on the experiments, so you will have a say in what will be done. We're going to make marketing activities more transparant :)


We'll make use of the free versions of Google Analytics and G Suite in the beginning. Mostly Google Sheets. As soon as the process is working and we see the need for better tools, we'll move to more professional tools. Not sure which one, because it depends on how many people will be working on it and what the best process is. But it won't be very expensive.

See my answer on the next question for an example of documents we'll most-likely be using.


The experiments differ per client and what I think will answer your question better (please let me know if it doesn't) is to show you how it'll look like. This is 2 templates I created myself and work with in the beginning with clients. Here is the document to gather ideas and this is the document for experimentation.

So we'll be testing assumptions. And as assumptions differ per client, it also results in different experiments. Hopefully this answers your questions. If not, please let me know.
Sorry, but 2 clear spreadsheets has not convinced me. Have you ever done this before? Could you provide the real data examples/reports/portfolio of your work?

Any things that we can look at and say “yes, probably it’s worth suits requested money for delivering this, let’s try it out”.
 
Status
Not open for further replies.