RFC - Cooler Launch Marketing Campaign

Deez

Summary

This proposal seeks authorization of a budget for a combination of partner packages: newsletters BanklessDAO and Milk Road, social media amplification specialists RACK marketing, and content creators Slance. The aim is to maximize Olympus’ exposure to highly engaged audiences, which will create more awareness and potential growth for our community. The timing of these campaigns should strategically align with the release of Cooler Loans.

Motivation

Olympus is rapidly moving toward protocol automation and a shifting of overall narrative from a decentralized currency to a flexible, backed store of value. In order to communicate this change to the broader public, we propose making strategic investments in platforms that have high visibility within our target market.

Verticals

Newsletters

Bankless Publishing and Milk Road are the two of most trusted and largest voices in crypto.

Bankless

Milk Road

Subscriber base of 265,000 and strong open rates (average 41%).

Guerilla Socials

Rack is a professional and organized creative social marketing firm that helped Kadena and Ethernity reach escape velocity.

RACK

Organic Push

SLANCE helped us launch and communicate our Boosted Liquidity Vaults and created a beautiful narrative for OHM as a currency. They know our style and brand and have delivered exceptional material.

Examples:

Boosted Liquidity Vaults:
https://drive.google.com/file/d/1v2eFU-xHgLyL5JrV-4J-Vbm6Akmzy4pH/view?usp=drive_link

OHM currency narrative:
https://drive.google.com/file/d/1avpz689lEhMX2XHxQWh9j25TiyxGjadE/view?usp=drive_link

Performance Metrics

To measure the effectiveness of this campaign, we propose tracking a set of key performance indicators (KPIs), including:

Increase in traffic from the newsletters.

-On average 1% conversion rate (~1,000 quality clicks) to the sponsored content directly.

-Will provide partners with UTM links so we can track in G4.

Number of new community members (e.g., Discord, Twitter followers, etc.).

-Depends on the sponsor but numbers can be in the multiple hundreds range.

-We are averaging about 125 new Discord members per week, so we will target 400 Discord joins after each feature.

Any significant spikes in token trading volumes during the ad campaign.

-10m in trading volume in the following 7 days after each campaign. This will include a buffer around the release of Cooler to account for new inherent product launch traffic.

-https://dune.com/spoysp/ohm-lp-metrics

Note: Metrics do not affect budget but will rather act as a retroactive assessment of effectiveness.

Proposal

Approve a one-time marketing budget to attack as many verticals as possible in a 6-week to 6-month campaign push. The CPM across campaigns is estimated to be ~$30-48 quality CPM according to MilkRoad’s past data.

Option 1

$50k

Bankless
- 1 Native Article and 2 Newsletter Sponsorship Slots for a 2 months period

AND

Milk Road
- 3 Sponsored Newsletters

AND

RACK
- 1-2 month custom campaign
- 1 x Account Director
- Contact point and Manager of BBs;
- Weekly meetings.
- 4 x Brand Builders
- Produce content suitable for the platform they operate in;
- Generate awareness by distributing content matching Web 3 culture;
- Create engagement by distributing content related to Olympus.

AND

SLANCE
- 3 months unlimited content
- Content will give RACK ammo to amplify
- 1-2 day average delivery time

Option 2

$75k

Bankless
- 2 Native Articles and 4 Newsletter Sponsorship Slots for a 4 months period
- Featured on Bankless Publishing Homepage for 2 months

AND

Milk Road
- 6 Sponsored Newsletters:
- Featured on MilkRoad/dao page for 6 months

AND

RACK
- 1-2 month custom campaign
- 1 x Account Director
- Contact point and Manager of BBs;
- Weekly meetings.
- 4 x Brand Builders
- Produce content suitable for the platform they operate in;
- Generate awareness by distributing content matching Web 3 culture;
- Create engagement by distributing content related to Olympus.

AND

SLANCE
- 3 months unlimited content
- Content will give RACK ammo to amplify across verticals
- 1-2 day average delivery time

Option 3

$135k

Bankless
- 3 Native Articles and 9 Newsletter Sponsorship Slots for a 6 months period
- Featured on Bankless Publishing Homepage for 4 months

AND

Milk Road
- 8 Sponsored Newsletters:
- Featured on MilkRoad/dao page for 6 months
- Deep Dive Into What are DAOs?

AND

RACK
- 1-2 month custom campaign
- 1 x Account Director
- Contact point and Manager of BBs;
- Weekly meetings.
- 4 x Brand Builders
- Produce content suitable for the platform they operate in;
- Generate awareness by distributing content matching Web 3 culture;
- Create engagement by distributing content related to Olympus.

AND

SLANCE
- 3 months unlimited content
- Content will give RACK ammo to amplify
- 1-2 day average delivery time

Option 4

Do not approve marketing budget

Detailed breakdowns of the offerings in each Option

Bankless Publishing
BanklessDAO Proposal

Milk Road
Milk Road Proposal

RACK
https://blockrack.notion.site/OLYMPUS-19a6fd2806154b769bff6ca50a11e63b

SLANCE
https://slance.co/blockchain-design-subscription/

Legal

We do not anticipate additional legal costs as a direct result of this proposal.

Timeline

If the proposal is accepted, we will aim to finalize the contracts with each agency and commence the advertising campaign aligned with the Cooler Loans launch and TBD protocol updates, with the intention to run for the duration of the selected packages.

Conclusion

We believe this investment in targeted advertising with top-tier agencies will boost our visibility among the right audiences and stimulate our growth. It represents a strategic move to expose the new-look Olympus to potential supporters, investors, and collaborators who are deeply engaged in the crypto and Web3 ecosystem.

We ask for the community's support in approving one of the Options presented. If accepted, it will represent a significant step forward in bolstering the Olympus brand and bringing new users into the ecosystem.

brightiron

What is the TL;DR on how funds are allocated inside of each of these options?

I.e the SLANCE deliverables are the same across each of the available options, but the overall budget ask is different.

Would be helpful to see breakdown of how funds are allocated to each of these agencies. As some deliverables change with each option, and others stay constant.

Deez

brightiron

Yes, under the "Detailed breakdowns of each option" are expanded proposals with pricing and examples of what each package look like.

TL;DR is:

Newsletters: 15k - 50k depending on package

Rack: 15-20k for 4-6 weeks

Slance: ~6900 for 3 months

4848

I like option 2. I feel like it has enough push to get the word out but not so much that we are just repeating the info to the same crowd.

dr00

Option 3 - all or nothing baby! Why take the risk of spending less at such a pivotal moment in the protocol?

Shpadoinkal

I would do option 3 as this is the moment to do it but I would make the bankless partnership contingent on Ryan and Sean actually covering the launch on the show which is far more valuable than being in their newsletter. I can introduce directly to them if needed.

Mark11

I am very supportive of a marketing program but pushing the narrative that we are moving to a from a reserve currency to a store of value should removed

Cooler is the path to the decentralized reserve currency - on that front nothing has changed

Deez

Regarding opinions on the post-Cooler narrative, completely happy to make adjustments.

I have opened up a Discord channel in the Policy forums under "Olympus Narrative Post-Cooler Loans". Please join us there and we can work toward (hopefully) a general consensus and make adjustments prior to moving to OIP. 🕊️

seijaku

I'd tend towards option 3 as well, although as above it would make sense to push for Bankless covering the launch properly on the show - the investment with them is high enough that it makes sense to go for that if we can (and it is obviously going to be very valuable based on the focus of narrative)

Yella

Option 3 for me! We should've done this a lot earlier & i'm glad to see that you take the initiative.

This is quite a make-or-break moment, and I think the campaigns should be well-thought-thru

Specifically I think the focus should not be on:

What is Olympus
What is Cooler
OHM as a SoV

Instead, I think the focus should be purely on the reader. How can Cooler improve their financial life? Why should the reader care? What are the hard facts supporting this?

Times of easy money are gone, people are cynical and want hard facts over ideological motives. Narratives therefore are given by, not persuaded to.

This is the big takeaway from my thesis: People define money/currency by the context it lives in, which is unique to them rather than the definition being a collective truth.

Wartull

My honest feedback here is that this is too early (OIP 147 was just rejected) to move forward with this initiative. We, as a community, first need to align what that new narrative is before we go out and promote this (good to see we have a discord channel for this now).

Secondly, I'm extremely skeptical of these types of paid advertising, since I've yet to see one actually work. Outside blatant paying off influencers, few actually had a good ROI. I talked during several projects in the past who went down this road, and I've never actually had someone recommend it. Secondly, I don't think we should go after newsletter readers which are very 'retail' heavy and more towards industry natives who we have seen in recent months are coming back towards the project (see the new faces in Discord). For this, there are the Messari's or The Block's of the world which we should aim at.

Thirdly, these things can serve as a regulatory honeypot (several examples in recent SEC cases on advertising). We'd have to be extremely careful in how we word paid advertisements, and this might limit our ability to get the narrative across.

I do appreciate the effort of this overview and think some type of narrative push is needed, I merely question the approach. This is also my personal opinion, not the one of the council.

rfveth

Wartull agreed on all points

Deez

Wartull I appreciate and respect your perspective. DMed to schedule a working session for next steps.

luzdeltemplo

Wartull

Much in line with Wartull's comments above, speaking for myself, I would only support option 4, considering the current ambiguity of the pursued narrative post Cooler, the end goal, and the cost-effectiveness for any of the proposed campaigns. TAP-28 generated huge voter participation from the community. It is unclear to me why we need to market the Cooler lending product to Retail when the overwhelming portion of Cooler users will be existing OHM holders.