dashdisciple
Active member
Official Proposal: https://www.dashtreasury.org/p-2010.prop
This is a survey proposal asking the question: Should the Dash DAO seek recruitment and hiring of a high-level Chief Marketing Officer?
Why do we need a CMO?
Dash currently has a $1.3MM monthly budget to spend on marketing and R&D. Due to the structure of the DAO, no unspent portion of this fund can be saved or carried over to the next month. Effective utilization of this budget is the key to Dash's continued growth and success. The budget must be deployed, but it must be deployed in a sensible, strategic, and profitable manner. We believe that the most effective way to accomplish this goal is to hire a full-time CMO, just as would be expected in any conventional company of Dash's size.
What will this cost?
According to PayScale.com and our own research, to attract top-talent, we believe this position should be paid somewhere between USD $200,000-$450,000 per year, depending on experience and location of operations. The salary will be paid out on a monthly basis using a multi-month proposal, and the monthly contract can be canceled by MNO vote at any time if the CMO fails to perform to the MNOs' expectations.
What would this CMO's duties be?
The duties of the Dash CMO would be very similar to the duties of a CMO at any other company. He will provide a constant, fresh stream of good marketing proposals to the DAO to be put before a vote of MNOs. He'll be in charge of pricing the various aspects of each of his proposals, lining up subcontractors to complete the tasks, and presenting a cohesive marketing strategy for everyone else in Dash to plan around. He'll be working full-time, often getting his own hands dirty until he has built a team.
How would this work?
This new Chief Marketing Officer would answer only to the MNOs by way of vote. He would be paid entirely in Dash just like any other proposal owner, at a competitive rate for top-level talent.
Would he receive a discretionary fund or would all his proposals go up for a vote?
Included in his salary would be a nominal amount of Dash that he could use to make proposals to the board. He would be responsible for putting up effective proposals with well thought-out execution plans. An experienced CMO of this caliber will likely have his own trusted team to subcontract to, or he may hire from within current Dash proposal owners, or both.
Shouldn't this wait until after Evolution is out?
No. Dash has a product right now, and it has a budget right now. Although there is plenty of room for improvement, it's a better product than any of the competing currencies, and people are already buying it. We need to market what we have so that when Evolution does come out, Dash will be in a much stronger position to competitively market and grow that product as well. Every company continually improves upon their products, but that does not prevent them from going as far as they can with the products currently available.
How will this magical CMO be found?
With Dash's $1.3 million monthly budget, Dash can afford a top-level CMO and it should accept no less. Dashdisciple, in combination with the DashTreasury.org team, will volunteer their time, money, and other resources to help locate potential candidates. In addition to press releases, we will initiate head-hunting at well-known online companies who have demonstrated impressive growth in a variety of competitive industries. Combined with our efforts, we would ask that everyone in the Dash community call upon all of their connections and resources to spread the word that Dash is hiring for a very unique, well-paid CMO position. We are not opposed to also calling on professional recruitment services, but that would have to be funded in a separate proposal.
Would this CMO then control 100% of Dash's marketing?
No. The Dash DAO was built to be decentralized, and it already has some marvelous proposal owners working for it. Anyone outside of the CMO's team will be encouraged to submit their own independent proposals. Once their proposals are approved, the CMO and his team will make themselves available to helping the independent proposal owners in any way they can, incorporating them into a general strategy, if applicable.
Can you give us an example of who this CMO might be?
We envision this CMO having been the CEO or CMO of an already successful and recognizable online company. Perhaps he's from an industry with a lot of carryover or maybe he's the CMO of a successful tech startup. Whoever he is, he'll have success under his belt, and he'll come equipped with a vision for Dash that the MNOs can get behind.
Who decides who eventually gets hired?
Once eager and competent applicants have been discovered, they will be required to post proposals to the board. They will post their credentials, their vision for Dash, and how they plan to execute on them. Just like with any proposal, the MNOs will look for a logical, detailed plan. The MNOs will elect this new CMO, and they will pay him the amount that he has asked for in his proposal if they approve.
You mention that the CMO would propose a series of marketing proposals. Can you give us an idea of what they might be?
Yes. Dashdisciple has donated his time to put together a sample list of marketing initiatives that the CMO might choose to pursue through full proposals. Please note that each of these proposals has their place and time, and the CMO's job would be to determine the best fit for each. The CMO would be in charge of creating his own proposals but would likely end up choosing some or many of the proposals below.
Here is a list of the types of individual proposals this Chief Marketing Officer would be in charge of proposing, pricing, implementing, and managing:
Search engines
1) Paid ads – Google, Bing – search, display, graphic/text/video, mobile/desktop/tablet
2) SEO – optimizing use of content and keywords on new/existing sites to rank highly in
competitive organic crypto terms
Social Media
1) Paid Ads on FB, track/AB test
2) Paid Ads on Reddit, track/AB test
3) Paid Ads on Twitter, track/AB test
4) Paid Ads on LinkedIn, track/AB test
4) Guerrilla Marketing – ie. $10 Giveaway promotions by region, industry type. Scalable, trackable, evolving strategies similar to #firstdashwallet.
5) Official Press distributions – Announcements going out systematically to each site/group.
Land based
1) Organized worldwide city meetups with structured, goal oriented, metric heavy agendas. (e.g. Bitcuners scaled worldwide, with trackable metrics. Consider the concept of a franchise, where meetups are delivered an agenda packet with budget.)
2) Sponsorship of organized campus Dash/cryptocurrency groups
3) Conference attendance with actionable goals: new investors, new integrations, press
interviews (Yes, Dev Core is already doing these very well, but there are many more to hit than they can handle.)
4) Regional cryptocurrency seminars
5) Hiring of project manager(s) to engage with proposal owners with funded proposals. Increase benefit derived from
proposals by offering extra tools, guidance, and by working with them in a cooperative manner.
6) Scalable regional business group involvement. Placing Dash people in each city's small business owner group, equipped with an agenda and budget.
TV/Video
1) Commercial production of a 30 second spot – buy in small pieces on late night, fiscally
conservative shows, gold/silver investor demographic, CNBC, Bloomberg. Testing first on
specific youtube channels.
2) Production of low-budget videos for specific landing pages used in other
promotions/advertising channels. (ex: several paid campaigns could lead to the same high
converting landing page with video, perhaps integrating with a Dash specific exchange promo)
Radio
1) Find fiscally conservative/sound money radio hosts. Buy advertising and get interviews. (ex: Work with DJs
to give away $10 of Dash to listeners or greater amounts to callers. Use blockchain analysis to measure effects.) Requires radio website
banners, links, actionable goals. Direct action required.
Press
1) Establish Amanda as official spokesperson (if she wishes). Provide her supporting resources so that the interviews come to her and her workload on tedious activities decreases.
a) Receives, then delivers messaging coordinated with marketing director.
b) Outgoing pitches to CNBC, Bloomberg, CNN, Yahoo Finance, etc.
c) Runs promotions on social media such as $10/person Twitter promo.
d) Gains outreach through doing interviews on other shows, gaining email/newsletter
mentions.
e) Pitches to other nests of highly qualified audiences.
f) Solicits blog posts, sponsors prize amounts to closed memberships.
Guerrilla Marketing - General
1) Establish positive presence anywhere discussion can occur. Use supporting membership to
deliver most compelling message and defuse negative messaging by competitors. (without engaging with trolls)
2) Use creative one-off ideas to push Dash's message into the news. (ex. When Dash funds something
massive and exciting, leverage that.)
The above list are example ideas. Ultimately, the CMO would exercise his own discretion in what should be done, how it gets implemented, and at what time.
We would like the Dash DAO to begin the immediate search and recruitment of a high-level Chief Marketing Officer, to be paid entirely in Dash, by the Dash DAO. Vote in favor of this proposal if you agree that the Dash DAO should begin this recruiting process.
UPDATE: 72 hours ago, we asked the question whether removing ourselves (me, @abob54) from the CMO recruitment process could reduce any risk to the community. Since then it seems that some people would be put at ease if we were totally separated from this process, as we have not yet built the trust to spearhead it. We respect and understand this concern.
For that reason, I am officially rescinding my offer to help with recruitment (as stated in the proposal), and the same goes for @abob54. If there's any specific nuts and bolts help or advice we can offer when it comes time to recruit, we can be available to whichever trusted Dash member heads up this task, but for the good of Dash and our desire to see top marketing talent working for Dash, we will not get between the MNOs and the candidate.
We're really happy to see all this productive discussion about marketing, and we truly believe that Dash has incredible things in store for it, both in the short and long term.
This is a survey proposal asking the question: Should the Dash DAO seek recruitment and hiring of a high-level Chief Marketing Officer?
Why do we need a CMO?
Dash currently has a $1.3MM monthly budget to spend on marketing and R&D. Due to the structure of the DAO, no unspent portion of this fund can be saved or carried over to the next month. Effective utilization of this budget is the key to Dash's continued growth and success. The budget must be deployed, but it must be deployed in a sensible, strategic, and profitable manner. We believe that the most effective way to accomplish this goal is to hire a full-time CMO, just as would be expected in any conventional company of Dash's size.
What will this cost?
According to PayScale.com and our own research, to attract top-talent, we believe this position should be paid somewhere between USD $200,000-$450,000 per year, depending on experience and location of operations. The salary will be paid out on a monthly basis using a multi-month proposal, and the monthly contract can be canceled by MNO vote at any time if the CMO fails to perform to the MNOs' expectations.
What would this CMO's duties be?
The duties of the Dash CMO would be very similar to the duties of a CMO at any other company. He will provide a constant, fresh stream of good marketing proposals to the DAO to be put before a vote of MNOs. He'll be in charge of pricing the various aspects of each of his proposals, lining up subcontractors to complete the tasks, and presenting a cohesive marketing strategy for everyone else in Dash to plan around. He'll be working full-time, often getting his own hands dirty until he has built a team.
How would this work?
This new Chief Marketing Officer would answer only to the MNOs by way of vote. He would be paid entirely in Dash just like any other proposal owner, at a competitive rate for top-level talent.
Would he receive a discretionary fund or would all his proposals go up for a vote?
Included in his salary would be a nominal amount of Dash that he could use to make proposals to the board. He would be responsible for putting up effective proposals with well thought-out execution plans. An experienced CMO of this caliber will likely have his own trusted team to subcontract to, or he may hire from within current Dash proposal owners, or both.
Shouldn't this wait until after Evolution is out?
No. Dash has a product right now, and it has a budget right now. Although there is plenty of room for improvement, it's a better product than any of the competing currencies, and people are already buying it. We need to market what we have so that when Evolution does come out, Dash will be in a much stronger position to competitively market and grow that product as well. Every company continually improves upon their products, but that does not prevent them from going as far as they can with the products currently available.
How will this magical CMO be found?
With Dash's $1.3 million monthly budget, Dash can afford a top-level CMO and it should accept no less. Dashdisciple, in combination with the DashTreasury.org team, will volunteer their time, money, and other resources to help locate potential candidates. In addition to press releases, we will initiate head-hunting at well-known online companies who have demonstrated impressive growth in a variety of competitive industries. Combined with our efforts, we would ask that everyone in the Dash community call upon all of their connections and resources to spread the word that Dash is hiring for a very unique, well-paid CMO position. We are not opposed to also calling on professional recruitment services, but that would have to be funded in a separate proposal.
Would this CMO then control 100% of Dash's marketing?
No. The Dash DAO was built to be decentralized, and it already has some marvelous proposal owners working for it. Anyone outside of the CMO's team will be encouraged to submit their own independent proposals. Once their proposals are approved, the CMO and his team will make themselves available to helping the independent proposal owners in any way they can, incorporating them into a general strategy, if applicable.
Can you give us an example of who this CMO might be?
We envision this CMO having been the CEO or CMO of an already successful and recognizable online company. Perhaps he's from an industry with a lot of carryover or maybe he's the CMO of a successful tech startup. Whoever he is, he'll have success under his belt, and he'll come equipped with a vision for Dash that the MNOs can get behind.
Who decides who eventually gets hired?
Once eager and competent applicants have been discovered, they will be required to post proposals to the board. They will post their credentials, their vision for Dash, and how they plan to execute on them. Just like with any proposal, the MNOs will look for a logical, detailed plan. The MNOs will elect this new CMO, and they will pay him the amount that he has asked for in his proposal if they approve.
You mention that the CMO would propose a series of marketing proposals. Can you give us an idea of what they might be?
Yes. Dashdisciple has donated his time to put together a sample list of marketing initiatives that the CMO might choose to pursue through full proposals. Please note that each of these proposals has their place and time, and the CMO's job would be to determine the best fit for each. The CMO would be in charge of creating his own proposals but would likely end up choosing some or many of the proposals below.
Here is a list of the types of individual proposals this Chief Marketing Officer would be in charge of proposing, pricing, implementing, and managing:
Search engines
1) Paid ads – Google, Bing – search, display, graphic/text/video, mobile/desktop/tablet
2) SEO – optimizing use of content and keywords on new/existing sites to rank highly in
competitive organic crypto terms
Social Media
1) Paid Ads on FB, track/AB test
2) Paid Ads on Reddit, track/AB test
3) Paid Ads on Twitter, track/AB test
4) Paid Ads on LinkedIn, track/AB test
4) Guerrilla Marketing – ie. $10 Giveaway promotions by region, industry type. Scalable, trackable, evolving strategies similar to #firstdashwallet.
5) Official Press distributions – Announcements going out systematically to each site/group.
Land based
1) Organized worldwide city meetups with structured, goal oriented, metric heavy agendas. (e.g. Bitcuners scaled worldwide, with trackable metrics. Consider the concept of a franchise, where meetups are delivered an agenda packet with budget.)
2) Sponsorship of organized campus Dash/cryptocurrency groups
3) Conference attendance with actionable goals: new investors, new integrations, press
interviews (Yes, Dev Core is already doing these very well, but there are many more to hit than they can handle.)
4) Regional cryptocurrency seminars
5) Hiring of project manager(s) to engage with proposal owners with funded proposals. Increase benefit derived from
proposals by offering extra tools, guidance, and by working with them in a cooperative manner.
6) Scalable regional business group involvement. Placing Dash people in each city's small business owner group, equipped with an agenda and budget.
TV/Video
1) Commercial production of a 30 second spot – buy in small pieces on late night, fiscally
conservative shows, gold/silver investor demographic, CNBC, Bloomberg. Testing first on
specific youtube channels.
2) Production of low-budget videos for specific landing pages used in other
promotions/advertising channels. (ex: several paid campaigns could lead to the same high
converting landing page with video, perhaps integrating with a Dash specific exchange promo)
Radio
1) Find fiscally conservative/sound money radio hosts. Buy advertising and get interviews. (ex: Work with DJs
to give away $10 of Dash to listeners or greater amounts to callers. Use blockchain analysis to measure effects.) Requires radio website
banners, links, actionable goals. Direct action required.
Press
1) Establish Amanda as official spokesperson (if she wishes). Provide her supporting resources so that the interviews come to her and her workload on tedious activities decreases.
a) Receives, then delivers messaging coordinated with marketing director.
b) Outgoing pitches to CNBC, Bloomberg, CNN, Yahoo Finance, etc.
c) Runs promotions on social media such as $10/person Twitter promo.
d) Gains outreach through doing interviews on other shows, gaining email/newsletter
mentions.
e) Pitches to other nests of highly qualified audiences.
f) Solicits blog posts, sponsors prize amounts to closed memberships.
Guerrilla Marketing - General
1) Establish positive presence anywhere discussion can occur. Use supporting membership to
deliver most compelling message and defuse negative messaging by competitors. (without engaging with trolls)
2) Use creative one-off ideas to push Dash's message into the news. (ex. When Dash funds something
massive and exciting, leverage that.)
The above list are example ideas. Ultimately, the CMO would exercise his own discretion in what should be done, how it gets implemented, and at what time.
We would like the Dash DAO to begin the immediate search and recruitment of a high-level Chief Marketing Officer, to be paid entirely in Dash, by the Dash DAO. Vote in favor of this proposal if you agree that the Dash DAO should begin this recruiting process.
UPDATE: 72 hours ago, we asked the question whether removing ourselves (me, @abob54) from the CMO recruitment process could reduce any risk to the community. Since then it seems that some people would be put at ease if we were totally separated from this process, as we have not yet built the trust to spearhead it. We respect and understand this concern.
For that reason, I am officially rescinding my offer to help with recruitment (as stated in the proposal), and the same goes for @abob54. If there's any specific nuts and bolts help or advice we can offer when it comes time to recruit, we can be available to whichever trusted Dash member heads up this task, but for the good of Dash and our desire to see top marketing talent working for Dash, we will not get between the MNOs and the candidate.
We're really happy to see all this productive discussion about marketing, and we truly believe that Dash has incredible things in store for it, both in the short and long term.
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