Name of Proposal: PIP 2 Engagement Harvesting
Discord Link to Conversations related to the proposal:
Creation Date: 29/09/2021
What’s needed (financial, additional help, please specify): Approval from community on go forward incentive funds.
The current issue we’re facing is that the incentives for accounts to push for engagement are not in place. In fact, the incentive for any account to push for maximum engagement for Phuture related content is at the discretion of the DAO. This doesn’t help the open promotion of Phuture content and is not an effective tool to engage larger social media accounts to distribute Phuture related content.
This proposal aims to achieve the following:
- Mass distribution of Phuture content
- Build out a quality social media presence
- Engage more people to help promote and scale the Phuture ecosystem
- Track user acquisition to Phuture main page and app
- Define what kind of content has max engagement
- Define the most effective time frames for post impressions
- Track the best content makers
Incentives act as key levers to enable a large audience base to engage and act on our behalf. In this instance, we are formatting for the first time a content distribution ecosystem.
Currently our content gets small levels of engagement. This is at odds with our goal of mass awareness. The content we are producing as an ecosystem is of quality and needs to be seen by people outside our current ecosystem to have the impact intended.
If someone in the community creates a well-crafted video, article or even gif, we currently distribute this on Phuture Twitter, Telegram and Discord channels, and ask others to share. The challenge with this current system is that our distribution channels (Twitter, Telegram and Discord) are populated with people who already know about and are engaged with Phuture.
So, how do we gain the attention of new users who haven’t yet had the luxury of knowing about Phuture? This is what Engagement Hacking solves.
We need to have the incentives in place to encourage virality for each Phuture related content piece.
This proposal shows that we don’t need to allocate a lot of capital for advertising and cross our fingers that it reaches the right people. We will reward content for successful performance once live, and over time will give us the data to calculate customer acquisition cost.
In order to launch Engagement Hacking successfully, we need to make the incentives clear.
Here is what we propose for each medium:
- Video Content (YouTube, Tiktok, Instagram video) - $60 (per 1k views)
- Written Content (blog post, research reviews) - $30 (per 1k reads)
- Social Media Impressions (Twitter, Linkedin, Instagram, Facebook) - $15 (per 1k impressions)
Please note, these rewards may change depending on community feedback and market rates.
If this proposal passes, we will publish a Medium post presenting the above offer and to distribute the message far and wide. The process would be:
- Create a medium post with an engagement opportunity
- Begin utilising our content distribution network to its full capacity
- Work on expanding this network
Successful Engagement Hacking would mean that we obtain a large amount of attention that we can convert into user acquisition via our content. Therefore promoting and growing the Phuture ecosystem.
To be successful we need to track user acquisition, contributions flow and determine the best contributors whose content leads investors to the Phuture app and site. To do this we will use UTM tags and defined hashtags for content.
This will work as follows:
Each participant of the incentive program is obliged to insert either defined hashtags or UTM tags to their content related to Phuture.
Each content, which has a link to the Phuture website or app, should contain a UTM tag, which will give the information needed for analytics. Including:
- Effectiveness of each post measured by views, reads or impressions
- Number of successful follow throughs
- Depth of viewing (number of pages visited, time spent on the site)
- New and returning visitors to the site
We will create a guide/manual on how to create unique UTM tags in the following days.
- Each tweet without a link to the website should contain hashtags, which we will track to measure:
- Number of mentions
- Top influencers in the space
- Engagement (the reach for the social mentions)
The data would be tracked and visualised as in example below:
This proposal looks to solve several key issues related to the involvement of users who are currently outside the Phuture ecosystem.
In addition, we will be able to fairly and qualitatively assess the contribution and significance of each participant of the Engagement Harvesting program, rewarding specific indicators of the effectiveness of content distribution.
Moreover, using UTM tags with posts will allow us to see from what sources new users come to Phuture from, and assess the interest of new users (having analytics on time spent on the site). We will be able to reward those whose content leads to the increase of traffic to the platform. As well as those who make high quality content and have a highly engaged audience.
PIP 2 edit:
Adding @dgen.eth’ suggestion
Time-bound - Limit of 3 months from publication. Claims can only be made for this duration.
Financial - To protect DAO funds from viral videos, we suggest the following limits for hugely successful videos.
Videos $10k limit
Articles $3k limit
Twitter $1k limit
UTM Tags and pricing:
Video Content (YouTube, Tiktok, Instagram video) - $60 (per 1k views) with UTM $30 without UTM
Written Content (blog post, research reviews) - $30 (per 1k reads)with UTM $15 without UTM
Social Media Impressions (Twitter, Linkedin, Instagram, Facebook) - $15 (per 1k impressions) with UTM $15 without UTM $7.50