Hi @so608, thank you for your insightful questions. Please find my answers below:
- Can you explain how Marketing DAO funding is contributing to user growth? Is it primarily the rewards that are driving growth?
Our platform operates as a web 3 data gathering and engagement platform, leveraging microgaming experiences (although publicly referred to as “learn 2 earn”). While rewards play a significant role in attracting users, it is important to note that the game’s mechanics require participants to answer questions correctly to achieve a high score. Therefore, the rewards offered go beyond traditional social media giveaways, creating tangible value for the hosting company by generating valuable data and increasing both brand awareness and interaction.
We are experiencing growth both on the B2B and user-facing fronts. Our collaboration with B2B clients on NEAR allows us to offer tailored campaigns, and the inclusion of rewards simplifies their decision-making process, mitigating risks associated with adopting a novel model.
As an example, when 100 users engage with a game (with a maximum of three attempts), they answer 15 topic-related questions and spend approximately 6 minutes actively participating. This high level of engagement fosters a sense of intimacy and familiarity with the company, making it an effective top-of-the-funnel marketing strategy to attract qualified leads.
- What do you aim to accomplish moving ahead that is different from the last three months, and what is your strategy for getting there?
Moving forward, our strategy entails launching more diverse “learn and earn” campaigns encompassing subjects such as history, web 3 security, DeFi, and current events relevant to the web 3 ecosystem. We have already demonstrated the viability of our concept in various use cases, including but not limited to brand awareness, tutorial testing, user onboarding, and general knowledge acquisition.
Our plan is to continually expand the range of use cases and build a compelling portfolio of case studies. By doing so, we will be well-positioned to engage larger corporations, showcasing the software’s capabilities and fueling our ongoing growth as a company.
- How do you measure success/growth over time? I can see the metrics for each campaign in your report. Are you tracking campaign-over-campaign growth, the volume of questions, answer accuracy, etc.?
To measure success and monitor growth, we employ a comprehensive internal analytics platform. This platform enables us to track essential key performance indicators (KPIs) such as the number of campaigns launched, total funds deposited into the smart contract, user participation per campaign, and the identification of the most active campaigns, among other valuable metrics.
- Do you have statistics on your social media growth that you can share?
Our social media growth has experienced a steady increase over the past few months, with several hundred new followers gained. It is worth noting that we have intentionally refrained from employing growth hacking techniques and other forms of aggressive crypto marketing. Our primary focus has been cultivating a genuine user base and prioritizing the quality of engagement within our community. Consequently, we have placed considerable emphasis on user sign-ups, which have demonstrated a consistent upward trajectory. Direct email communication with our user base has proven to be more effective than relying solely on social media channels.
- How will the $500 contribute to promoting the campaigns? Could you explain this aspect of the budget?
Certainly. We have identified that, in the current version of our product, consistent promotion and active engagement with the community are crucial. However, when operating within a smaller user base, the repetition of messages tends to reach the same audience repeatedly. By allocating $500 to campaign promotion, we can strategically target and amplify key campaigns, thereby maximizing user onboarding and fostering significant growth.
- Can you explain LazyFi’s fee ($275)? What does this entail?
LazyFi implements a fee structure wherein 5% of all rewards deposited into the smart contract is retained as platform revenue. This fee is automatically enforced at the smart contract level.
- How do you select which campaigns/events to partner with and promote?
Our campaign and event selection process involves multiple stages. We leverage various channels, including social media platforms such as Twitter, along with forms and targeted posts within relevant communities like the founders on NEAR Telegram group. Additionally, we closely monitor and follow the official NF Twitter page for potential partnership opportunities.
We have also invited NEAR founders to create campaigns on the platform and offered this as a grant program alongside NF. https://medium.com/nearprotocol/lazyfi-announces-learn-and-earn-grant-program-alongside-near-foundation-and-neko-75cf36687b81
In our upcoming initiatives, we aim to emphasize web 3 security and fundamental concepts applicable to the broader web 3 community. By doing so, we are confident that we can successfully onboard individuals onto the NEAR platform, as these subjects have a wider appeal beyond niche interests.