Budget Category: Marketing

Proposal Kickoff: November 1st, 2020
Budget Amount: 20,000,000 SC per month, from block subsidy
Treasury Kickoff: 120,000,000 SC, from treasury
Timeline: Active until Jan. 2022
Stockpile Cap: 240,000,000 SC

This proposal is to set aside a significant chunk of SC as a budget for marketing. This would include PR firms, the construction of materials such as marketing videos, any ad spend or influencer spend, any marketing hires within the foundation, and any other efforts tangentially related to spreading the word about Sia. Conference sponsorships and travel for speaking opportunities would come out of this budget.

There is a low stockpile cap on the budget to encourage the rapid spending of Siacoins towards marketing materials.

2 Likes

I can see a healthy chunk of the 20mil monthly allotment being eaten up by Marketing Director salary and overhead (benefits and the like) and PR Firm alone. Call it $60,000 USD/m budget at current levels. A Marketing Director would likely run $10k-$12.5k per month ($120k-$150k annual salary) plus benefits using a 1.3x multiplier has the Marketing Director position accounting for $13,000-$16,250 of the monthly budget. A PR firm would likely run $5k-$10k per month I am guessing (unsure of scope). So, all-in, it’ll probably be $20k-$25k/m between those two fixed expenses leaving $35k-$40k USD per month.

I understand this is way more working marketing capital than Sia has seen before, but, I know this money can go quickly. For example, something like building relationships with Universities can come with high upfront costs and that is something that could/should be done on a regular basis.

The kickoff amount will go a long ways towards marketing materials and I think that is great.

I am not proposing increasing the Marketing budget. I just wanted everyone to see what’s left after the hard costs.

Out of curiosity, what would the scope be for the PR firm? Wondering if perhaps duplicate efforts with Marketing Director?

The PR firm would serve to augment the marketing director. Talking to news outlets and other broadcast mediums takes a lot of time, and a PR firm is generally going to be more connected and know each individual writer better.

The two would work together to provide the best overall strategy for Sia.

3 Likes

I really do like the idea of having a Marketing Director freed up for more grassroots and guerrilla marketing efforts.

2 Likes