Grant Update Marketing Committee Grant

Secured
#3
Things I forgot to put in the update:
  1. The marketing committee chose to liquidate 170 FCT at 0.0037 BTC to pay for a year of Hootsuite and Mailchimp rather than 3 months (as per the original grant). This means there will be no requirement to pay for these tools in the next grant rounds.
  2. The FCT tokens paid out in the grant are still held at the same address as the Bittrex wallet as grant payout specified (FA3KhPnfjM8M8cXNvHZGpLMweEzq9irUzVjhRzyXeKayg1Yc1Yzr) but are slowly being sold to BTC, and then to GBP.
  3. As of today, there are 4023.79117769 FCT of the original 5000 FCT remaining in the wallet
  4. The difference between the liquidated token qty in 1. and the quantity remaining in 3. is the current amount liquidated to BTC in preparation for the paid campaign in February (~1.7 BTC currently)
  5. Ben Jeater (marketing chair) created the wallet and is the only one with access to it. There was a concern raised during the grant process about a single entity in a committee being the only one with access to the funds. Until there are multi-sig wallets, this will, unfortunately, be the case.
  6. All liquidation is happening through BuildingIM at a Capital Gains Tax rate of 20%.
  7. At the current price of liquidation, there will be a remainder of FCT after the grant activities have been completed. The committee are discussing how to use this funding to get the most use out of it.
  8. The largest chunk of spending will be $16,500 for marketing ($15,000 for adverts + 10% for agency fees). This is why the liquidation continues slowly to not affect the price with large dumps of FCT from the committee.
 
Secured
#4
Thanks for this, @Ben Jeater. A couple questions:

1) Where do you anticipate the paid ads running, and what will be the general content? Basically: What is being advertised, and where?

2) Has the Marketing Committee discussed establishing relationships with crypto news outlets (CoinTelegraph, CoinDesk, Bitcoin Magazine, etc)?

Thanks!
 
Secured
#5
1) That is a decision that will be part of the strategy, which is currently being worked on. The current idea is that we use many display networks (Google, Facebook, Twitter, etc) to see which has the highest return-on-investment for our protocol. With more data, we can better target our campaign and increase the overall effectiveness of the current grant and future grants.

2) This is outside the scope of the grant so I would prefer to discuss this separately. If you wish to ask questions about our wider marketing activities you can join the marketing committee discord at https://discord.gg/Y7rgTm6
 
Secured
#6
Great work, Ben. Thanks for setting up a clear framework and strategy for the community to track, and for sharing it so concisely.

I’d like to get a little closer to the marketing process since I have some relevant experience. Is the marketing committee discord open to all?