@jer979 and I have been working together to identify a comprehensive marketing strategy that the Marketing/Communications Hub can execute once a formal proposal is submitted.
We believe that a marketing push is meaningless if it isn’t well thought out, aligned, and coordinated. Before we ask for any NXM from the Community Fund, we want to ensure we have developed a coherent strategy to use in the Marketing arm of the Hub.
We are using the Objective/Key Results (OKR) methodology when developing our marketing strategies.
Our long-term Objective is: “Nexus is for Everyone”
In the short-term (which we define as a 6 month timeframe), our objective is to make the following saying synonymous in DeFi: “Nexus is the Blue Chip Cover Provider”
Objective: “Nexus is the Blue Chip Cover Provider”
Grow the number of seven figure cover buys from 350 within a six-month period (350 between Dec 21, 2020, to May 21, 2021) to 440 cover buys within a six-month period, or a growth of 125% from existing levels.
Onboard 10 brand name members (e.g. Mark Cuban) that have influence and provide further credibility to the protocol.
Increase the number of annual Cover Policies Sold from 4,107 (YTD) to 9,000. [4,893 annual cover policies / 1,224 policies per quarter]
Double the Percentage of NXM Staked/Total Supply (28.2%).
Growing our membership with influential figures in the space and increasing membership with DeFi users who have a need for high-value cover policies will help the mutual increase capital in the pool, bolster credibility within the ecosystem, and set the standard for cover providers in DeFi.
The “How” of Execution
Marketing efforts with no strategy are a waste of resources. @Jer979 and I have been workshopping strategies over the last several weeks, and we’ve identified a strategy for the first Key Result listed: Grow the number of seven-figure cover buys by 125%, or 440 cover policies sold, within the next six months.
We offer this as an example and will follow the same approach to develop plans for the other Key Results.
Strategy for DAO Coverage Campaign (“DCC”)
- Small-to-mid size protocols that have assets between $5mm <> $100mm.
- Protocols that have ETH or stablecoins as part of their treasury already.
- Protocols that have previously discussed or announced efforts to diversify their treasury funds beyond 100% native governance tokens.
- (Ideal) Protocol core teams with a minimum of 2-3 publicly identified members.
- Protocol on Ethereum Mainnet and/or Polygon.
- Minimum of $20mm TVL.
- Optional favorable criteria: existing NXM member is also credible member of target protocol community.
Why We’re Targeting This Group
We can offer cover products to DAOs that want to deploy assets in DeFi while mitigating the risk of loss. If DAO treasuries were to deploy ~25% of assets, they could secure cover through Nexus Mutual without depleting cover availability for other members.
Possible Campaign Theme/Messaging
- Operation Hibernation
- Earn with the Bull, Protect for the Bear
- [Open to community suggestions]
Primary Offer: Cover your Ass(ets) with Nexus Mutual
What’s In It for Your Protocol?
(Why Cover your Ass(ets) in the First Place)
Why Nexus Mutual vs. the Other Cover Providers in DeFi:
No one offers cover with protections as comprehensive as Nexus Mutual.
Everyone in DeFi offers discretionary coverage: no differentiation.
Nexus Mutual is the most user-friendly UX in DeFi.
Best Risk Management practices.
Most capital efficient cover provider in DeFi.
We are the only DeFi cover that offers cross-chain cover under one policy.
Call to Action (Potential)
- Contact Ricky for a Community AMA to explore the value of “Covered by Nexus”
Tactics to Get Protocol Attention
- Nexus Community Ambassador (NCA) visits target protocol community forum(s) and “takes temperature” regarding Nexus offer (using OCT).
- NCA follow up with CPE.
- NCA requests customized video targeted to Protocol X.
- NCA shares pitch with specific Community Target Audience (CTA)
Supporting Assets to Create
- Outreach Communication Template (OCT): “Take the Temperature” [Google Form component]
- Community Proposal Elevator Pitch (CPE): “Interested in learning more?”
- Customizable Pitch (video)
- List of mutual members who can act as Nexus Community Ambassadors (NCAs) and do Community Outreach to different Protocols
Transparency and Request for Community Feedback
We are providing an update on our efforts for the Marketing/Communications Hub to provide transparency to the Nexus community. We believe that strategic efforts will deliver the best results for the wider Nexus community, which is why we’ve given much thought to how we can further the protocol through marketing efforts.
In addition to this disclosure, we are asking the community for any feedback, constructive or otherwise, regarding our current strategy for this one Key Result. The same approach will be taken for the remaining three Key Results.
The Communications arm of the mutual will create education content and engage with the community across various channels (i.e. Twitter, Discord, Reddit, etc.).
This arm will also serve other Hubs in creating written content.
We are working to develop these strategies, which we can then leverage through the Marketing/Communications Hub. Once we have strategies in place, we will create a proposal to launch the Hub with the relevant requests. Thank you for taking the time to read our progress so far. We look forward to hearing from the community.
We also welcome the community to help identify DAO treasuries we could market our cover products to. Here is a link to the DAO Treasuries resource document.
- Grow the number of seven figure cover buys from 350 within a six-month period (350 between Dec 21, 2020, to May 21, 2021) to 440 cover buys within a six-month period, or a growth of 125% from existing levels.
- Onboard 10 brand name members (e.g. Mark Cuban) that have influence and provide further credibility to the protocol.
- Increase the number of annual Cover Policies Sold from 4,107 (YTD) to 9,000. [4,893 annual cover policies / 1,224 policies per quarter]
- Double the Percentage of NXM Staked/Total Supply (28.2%).
How to Execute
- Identify Nexus Community Ambassadors (NCA)
- NCAs do outreach to DeFi communities to gauge interest in cover products/membership
- Target interested communities
- Onboard DAO treasuries, sell high-value cover policies to protect deployed DAO assets.
We are hoping for community feedback throughout the week with any final comments being submitted by Friday or Saturday. @jer979 and I will take any community input and adjust accordingly as we push forward with our efforts to get a complete marketing strategy ready.