As we are all aware, there are many crypto events in the space like as NFT NYC & DeCentral to name a couple.
With our treasury sitting at almost 8 million dollars, I believe it is reasonable for us to look to some of these events as sponsors to give CityDAO some exposure to people in the space with the goal of getting more and more people to believe in our vision and try to help us in achieving that vision.
I have been speaking with a top tier event in the space (of which i cannot share just yet as they haven’t announced sponsors) It is being held in Miami in May for those that are curious and may be able to dig.
This event are very interested in having us sponsor the event along with some other big names.
The sponsorship gets us:
20min Keynote session on a break out stage.
12x12 Booth
Press release
Partnership announcement
Networking opportunity
And some other AWESOME benefits.
I truly believe this is a great opportunity for CityDAO to show its presence in the space and showcase our ability to become the leading DAO in the space (Which i think we already are )
This sponsorship amount is approx $70k Which would be 0.875% of the treasury and i believe the benefits greatly outweigh the costs.
I am in favor of your proposal and think it is reasonable and prudent. We defer to your judgment on the event and costs. Regardless of the outcome of the event, it will result in at least some exposure for the DAO and provide some context as to how to support the DAO through events and sponsorship opportunities.
sounds interesting, but I’d start by signalling to various events that we are open to sponsoring and let them send some offers we can then compare.
So the first decision to ratify would be:
Love the vision to do more marketing in order to establish ourselves as the leading DAO in the space!
I question the return of the investment though.
70k$ USD is a lot of marketing budget and I’d argue there are cheaper and more cost-effective ways of creating brand awareness, especially amongst a digital native audience.
I’d suggest the following:
1 Conclude our chapter / guiding principles / values / voting mechanism
2 Conclude roadmap / key strategic milestones over next years
3 Conclude budgets; including marketing budget
We need 1 & 2 before it makes sense to spend anything on marketing. Once we have 1 & 2 we can identify WHO we want to attract with our marketing initiatives.
We also need to make sure we have the mechanism in place (back to 1) to successfully take new joiners with us. In hindsight we lost a LOT of momentum as we haven’t been able to capture all of the energy the last 2-3 weeks after the mint. Otherwise we spend money on attracting new people to join the community, but we’ll lose them soon after.
Once all of this is given and we have an overall marketing budget, we can then decide how to spend it. This should start with the end in mind (again, why we need 1 + 2), as otherwise we’ll spend it simply based on the first cool ideas (like this one or the drone video).
Strategy before tactics and hence I’d strongly vote against it. The only exception is if we need some quick wins to keep the momentum. But I’d assume it should be a priority to have 1+2+3 complete before the mentioned event happens!
Totaly agree with you, Uncle_Liberi! Realy grate sugestions! We need strategy not only fire in eyse! You just write my thoughts. For now we have a lot of nice interesting ideas, but without any strategy this is only spending of DAO’s budget.
Firstly, this is not traditional marketing as per say.
Its important to note that CityDAO does not have any marketing budget and does not particularly need a marketing budget as we have excellent word of mouth.
Secondly, in terms of size and value, 70k may be a lot for some organisations but not for CityDAO considering TV across the treasury and Citizen NFTs.
I do agree that we should try to finish the steps 1,2 & 3 ASAP however I do not believe they are blockers of this initiative as it is purely to gain some exposure as a DAO. Not necessarily to draw in newcomers. Its almost to showcase how much we’ve achieved already.
I hope that this event will introduce us to people that can help us further achieve our goals of the DAO.
This is not just a “cool idea”, it is one we can execute and it be effective regardless of the outcome as again, it is not traditional marketing.
Our strategy is being developed and we have a goal in mind, this is not a tactic that will hinder strategy as the outcome will be positive no matter what.
There is no company in the world without a marketing budget. Tesla is often referenced here, but what’s the cost of Musk’s time being on Twitter and figuring out PR stunts?!
And this statement collides directly with the following ones
it is purely to gain some exposure as a DAO
I hope that this event will introduce us to people that can help us further achieve our goals of the DAO.
If we want exposure and introduce more people to CityDAO (which I agree with you) then we need marketing. And then we need a marketing budget.
Personally, I believe that
we definitely need more marketing
anything that is done to make CityDAO more popular is considered marketing
before spending big on marketing we want to have a clear strategy
Fully agree with you that this CIP does not hinder strategy and will have a positive outcome. But for spending a significant percentage of our treasury (which is consider 0.8% to be) for a project half a year in the future I’d like it to strongly fit it into an existing long-term strategy that is yet to be developed.
If we want to create some short-term buzz we could just give 10,000-20,000$ via bounties to a few growth hack ideas from community members and would probably be able to get even more exposure from it (+ creating more engagement from within the community).
I think this is an excellent idea as our DAO could do with the exposure, I also think that a we could gain a lot of exposure if we utilise the members of our DAO who have huge followings on social media and are already highly respected in this space…that type of marketing is not only free but highly beneficial
I really do not understand why everyone thinks we need more “exposure” if we have no idea what we want people to do once they are “exposed” to us. If the whole point is to get them to buy citizenship on secondary markets, I don’t think that’s very compelling (especially since we have a lot of work to do to better lay out our rhythms and values and greater mission. But if all we want is for more folks to be buying citizenship, then that’s what we need to be talking about and that’s what we need to be doing marketing with the aim of. Generic shit doesn’t help us and isn’t worth 70k.
“establishing ourselves” as a leading DAO does nothing if we are not doing the work of leading the space. We are not like other DAOs, we should accept that and use that to our advantage, not try and be like everyone else.
I don’t think we are a company and I don’t think we need a marketing budget unless we have CLEAR goals about what and who we are trying to reach and what we are asking them to do when they hear about us.
Could you please explain your words about “how amazing this DAO is”? I just want to understand what do you mean.
For example for now I cant understand what exactly is so amazing in our DAO, I just see that some peaces of our budget spended on thisngs like : “WOW ZIS IS SO MAZIN STAF, LETS DROP SOME CASH IN IT”.
)