Gleam Contest - Index Coop x Bankless DAO
Title: BED Index
Working Group: Grendel, Devin_S, RedVan, Jenetics
Date: August 3rd 2021
Summary
The BED INDEX was one of the first core products for the DAO and the actions carried out to date have involved a lot of effort. It's established an important revenue stream and must be considered a living tool, with its own budget allocated for each season.
Index Coop contacted Bankless DAO to create a joint campaign using Gleam
BACKGROUND
"This is a proposal for a social engagement contest run by The Index Coop and Bankless DAO, accompanying the BED launch with the goal to drive impressions, engagement, followers and conversions.
Gleam is a business growth platform with focus on running competitions and sweepstakes. It integrates smoothly with Twitter, Discord and Instagram and can provide meaningful insights about our followers.
This initiative could be as small or as big as we want to make it. We can supplement it with press outreach to secure some real estate on associated blogs / outlets or we can keep it local to our platforms.
It gives us a chance to capitalize on the combined reach between Index and Bankless, and generates another ‘event’ to rally around now that the product has launched."
https://docs.google.com/document/d/1BU3hgBvQ9IOtJNCJO7rHU5r9MLCFdQNhx03__j_ukSU/edit
MISSION & VALUES ALIGNMENT
The BED INDEX is one of the first founding projects of the DAO and was immediately strongly desired and pushed by the whole community.
By allowing people to purchase multiple assets relatively easily, it aligns perfectly with BanklessDAO's goals.
SPECIFICATION
Potential
- ROI for impressions vs investment could be huge
- Increase in Twitter followers
- Increased engagement
- Brand awareness for BED and its makers
Functionality
- Ability to incentivize certain actions
- Customizable actions (‘Show us your bed for a chance to win BED’)
- ‘Viral Share’ function which incentivizes users to refer their friends
- Can embed the contest into any medium posts / other sites to drive traffic between our channels
- Opportunity to coordinate with BanklessDAO to execute a structured socials campaign around this contest
Incentivised Actions
- Follow Index Coop on Twitter
- Follow Bankless DAO on Twitter
- Retweet this tweet
- Subscribe to Bankless podcast
- Claim this POAP
Needed from Index Coop and Bankless DAO
- 50 / 50 Budget split: platform cost, marketing budget
- Incentives amount each TBD
- Promotional assets:
- Twitter post visual - image / animation
- Landing page visual
- Copy for announcement post
- Visuals for ongoing promotion
FINANCIAL IMPLICATIONS
Prizes
- There can be between 50 and 250 winners (depending on plan)
- Prizes could include $BED $BANK or $INDEX
- We can also source POAPs / NFTs through our communities to add incentive without additional cost.
Cost
- $49 - $149 for platform use >>> 50% of 149 USD payable in $BANK to Index Coop
- Suggestion: between $500 and $2000 for prizes >> IN BANK, 5000 $BANK suggested
- Optional: cost for social ads and PR $200 - $2000 >>> 50% of 2000 USD payable in $BANK to Index Coop
- DAO contributors retribution:
- Campaign shared management: 10/hr
- Contents creation (AV, Design, Writers): 18/hr (6/hr each)
TOTAL: 33.500 BANK (to Index Coop) + 20.000/30.000 BANK (prizes) + 28.000 BANK (wages) = 81.500 / 91.500 $BANK
SUCCESS METRICS OR KPIS
Number of new subscribers to social channels
Number of contacts on the BED Index page
BED Index purchase volume over the campaign period
NEXT STEPS
- Campaign and budget approval
- Campaign start