Over the last two months, @Jer979 and I have worked to develop and refine a comprehensive marketing strategy. We have referred to our Hub as the Marketing and Communications Hub, though we will refer to our Hub going forward as Mutant Marketing.
Mutant Marketing’s mission and mandate is two-fold:
- To accelerate growth and create demand for cover buys; and
- To convert any NXM allocated to the hub into new membership in the most cost effective way possible.
@Jer979 and I have provided two updates regarding our marketing strategy development so far. You can read the initial Proposed Marketing Strategy for Nexus Hub and Updated Marketing Strategy forum posts for the development of our marketing initiatives.
With a general marketing strategy in place, we need to formally establish Mutant Marketing and form a team staffed by Nexus Mutants.
We cannot do this alone, and we will need the support of our members to successfully launch Mutant Marketing, implement our marketing strategy, and accelerate the mutual’s growth within the DeFi cover sector and beyond.
Activities of Mutant Marketing
Mutant Marketing will focus on reaching new markets and forming partnerships with listed protocols to create greater awareness of the Nexus Mutual advantage.
We want all of DeFi to understand what we already know to be true: Nexus Mutual is the Blue-Chip Choice for DeFi Cover.
Marketing Strategy Development/Implementation
Members of the Hub will work to execute defined marketing strategies going forward.
Mutant Marketing will manage existing marketing initiatives while exploring new marketing approaches and initiatives, while adjusting current initiatives to achieve the greatest level of success.
Our sole aim is to provide value to mutual members by generating demand for cover buys and attracting new members to the mutual.
Review of Marketing Strategy Performance
On a quarterly basis, Mutant Marketing will evaluate the effectiveness of current marketing initiatives by using established baseline data to a reference point.
These quarterly reports will be posted on the forum for wider community review and that information will be used by the Mutant community to determine ongoing budgets and resource allocation.
Providing Status Updates
Every month, Mutant Marketing will release a memo that provides an overview of Hub developments, activity, and progress. This memo will be posted on the forum for community review.
Drafting, Submitting, Reviewing Marketing Strategy Proposals
Any Nexus Mutant can propose a strategy or initiative for Mutant Marketing to consider. Any proposed strategy/initiative should be posted on the Nexus forum for general discussion.
Activities Outside of Hub Scope
Mutant Marketing is focused on growth and expanding reach to new markets. We are not primarily focused on engaging with our existing membership other than what is limited to discussion of strategies, Hub reviews, quarterly reports, etc.
As Head of Community, @Kendrea will take lead on member-focused communications and engagement.
To simplify things:
- Mutant Marketing is focused on external marketing/communications
- Community Engagement is focused on community communications
Objectives of the Hub
Short term: One Month
The first month of Hub operations will be dedicated to hiring and onboarding Nexus Community Ambassadors and Nexus Writers.
Any member representing the mutual should have adequate resources and training to be knowledgeable, diplomatic representatives of Nexus Mutual in other communities.
Nexus Writers will use this first month to create the entries for a knowledge-base to be used in conjunction with the existing Nexus Mutual documentation to answer questions.
Once the above efforts have been underway, we will then move to create forum posts in targeted community forums to establish Nexus Embassies and staff them with Nexus Community Ambassadors.
Medium term: Six Months
Within the first six months, Mutant Marketing will implement all of the marketing strategies outlined in the Mutant Marketing Strategy document provided here.
Long term: One Year
Within the first year, Mutant Marketing will seek to expand Nexus Mutual’s reach and identify new target audiences and markets for membership growth and increased cover demand.
Executing the other marketing strategies to begin accelerating the mutual’s growth within the DeFi cover sector and strengthen existing partnerships with listed protocols.
Setting Up Mutant Marketing: Timelines
Mutant Marketing Snapshot Vote
Before any work can be done, we need to formally establish Mutant Marketing. Next week, we will post the Mutant Marketing Charter with startup costs associated with hiring Nexus Community Ambassadors and Nexus Writers, as well as operational costs associated with Key Results #1 and #2. In addition, @BraveNewDeFi and @jer979 will submit proposals regarding their salary for serving as Hub Lead and Hub Advisor respectively.
The first month will be dedicated to onboarding, training, and working with Community Ambassadors to implement KR #1.
Key Result 1: Nexus Community Ambassador Program (aka Nexus Embassy Initiative) and Key Result 2: “Get Out of Your Shell” Campaign will be initiated.
KR #1 will be an ongoing initiative, and KR #2 will be the start of a larger effort to tap into the mutual’s social capital within DeFi. KR #2 is focused on helping Mutant Marketing reach a wider audience to achieve our mandate.
Key Result #3: DAO Coverage Campaign will be initiated. Mutant Marketing needs the Nexus Embassy initiative to be implemented before we can begin KR #3.
Mutant Marketing will focus on opening new Nexus Embassies in other listed protocol communities and work with our brand-name members to expand our marketing reach.
Interaction with the Core Team and Community Engagement Hub
Mutant Marketing will coordinate with the Core Team as it pertains to certain marketing initiatives and to ensure our marketing strategies are in line with the Core Team’s efforts.
@Kayleigh-NexusMutual will serve as the primary contact on the Core Team for marketing-related communications, though we will likely keep in touch with other members of the Core Team as needed.
Outside of the Core Team, Mutant Marketing will also coordinate with @Kendrea and the Community Engagement Hub to identify areas of overlap and where synergy can be achieved.