Back in Shard 2, I said that our Q2 efforts were all about “Start Your (Marketing) Engines”.
I’m proud to say that I think we’ve done a solid job of getting rolling in pursuit of our Marketing team’s mission, which is to “Create and Empower Radix Evangelists.”
We still have a long way to go and have a number of open positions on the team such as VP/Marketing and the world’s greatest marketing copywriter to help but I am optimistic our overall trajectory. I hope you share that view.
Let’s dive into the Q2 OKRs…
(For a refresher on the OKR paradigm, please reference Shard 2).
Q2 Marketing OKRs
(Please note: these numbers are as of Monday, April 25th)
We have 3 Marketing Objectives and Key Results for Q2, 2022:
- Grow the number of wallets with more than 2000 XRD from 7500 to 10,000
- Drive 1500 unique Scrypto repo clones (up from 600)
- Grow to 150,000 monthly site visits (from 50k)
Number of Wallets
Currently we are just under 7900 wallets with more than 2000 XRD (7942 to be exact), which puts us at about 18% attainment. Not the best and it obviously highlights the immense number of challenges that people face in obtaining XRD. Yes, for all of you who keep asking the “wen exchange” question, now you know that I am definitely feeling your pain because this is directly impacting this topline OKR.
While I can’t go into too many details (do you hear the lawyers breathing behind me?), please know that it’s a big focus area for many, many people throughout RDX Works. In fact, we are going to have someone dedicated full-time to exchanges as soon as we can fill the role.
So, if anyone tells you that exchanges don’t matter, well, they are wrong.
And this isn’t just a business issue, it’s a personal one. I have two brothers and the three of us were hanging out a few nights ago. They asked me about Radix and I put on my CMO hat. I’m proud to say that 4 minutes later they were both sold. I got a text the next morning say “I want to buy Radix, please help me”...and my heart sunk.
It sucks and we must fix it.
Unique Scrypto Repo Clones
We’re basically at 55% attainment for the quarter before the 1st month even ends. This is the OKR where we are doing the best and if this rate continues, we should totally blow this number out of the water. A huge shout-out for this one goes to our Performance Marketing team, which has been sending better quality traffic via advertising (Brave, Twitter, Reddit) to our Developers landing page and, of course, the incredibly successful Lisbon dev event thanks to many, but in particular to Kristof and Konstantin. Watch the wrap video. It’s pretty epic.
Not only did we cost-effectively drive the right kind of registration, but we have also found a repeatable format for content. Now that we have a new Dev Ecosystem lead in the organization and a Product Marketing Manager joining on May 3rd, we should be able to ramp these up which, as you know, are key to long-term success.
Achieving this target is simply a measure of momentum for how marketing is doing, so the uniqueness is critical for us.
Monthly Site Visits
For this one, the needle has moved a little bit. We’re going to exceed 50k users for the month, probably coming in around the 60-65k range, so 20-25% growth m/m, but nothing like the 200% growth we are targeting.
While, on the surface, this is a bit disappointing, it’s not surprising as our big efforts on driving awareness are coming in May with the takeover of the Brave homepage on the 10th. We’ve spent a LOT of time building out and testing the advertisement, the copy, the landing page (and its associated copy) as well as the follow-on email campaign in an effort to turn visitors into believers into Revelationaries.
Hope isn’t a strategy, of course, which is why we’ve spent a lot of time doing the right things and doing them right, but obviously, the proof is in the pudding. I’m both excited and admittedly a little nervous since, well, this is the first “big” campaign of my CMO tenure, it’s a fair amount of money, and it’s a big opportunity. No matter what happens, however, we’ll learn and grow from it. Once we launch, then we can say “hoping for the best.”
We’re not putting all our awareness eggs in the Brave basket, however. We continue to invest in “shareable” content, the best example of which is the new Rekt Retweet series. The first one was about Cashio and you’ll see a new one every Tuesday. Ultimately, we’d like to be able to turn them around within 24 hours of a hack (and thanks to the EVM model, it’s the gift that keeps on giving), but as we work out the muscle, we’re going to get our reps in on slightly older ones. It’s about evergreen content, not newsjacking anyway.
While we all hope Radix is the most well-known crypto project by the end of the week, the reality is that great brands are built one shard at a time, over years. It’s highly unlikely that there’s a silver bullet that is going to solve all of our problems in one fell swoop. More likely, it’s about doing 1000 little things with 1000 true fans (like you) that will lead to a moment of “global revelation.” Believe me, I wish I could wave a magic wand, but my experience says that it doesn’t usually work that way.
In fact, I believe it works the other way.
Do a LOT of little things and a few of them will go huge. In short, we want to give the community as many ways as possible to promote Radix, so you can choose the tactic that works for you. I want every idea that comes by way to become a marketing experiment because you never know…More on this coming in May.
For now, our most sophisticated option is the “Radix Revelation Meet Up.”
We’ve already done or planned 15 of them with many more to come. If you want, you can join me in New York on May 1,in Montreal on May 5th ( I’ll be virtual), in Helsinki-in a sauna- on May 12th, in Tel Aviv on May 25th because NOTHING is better marketing than word-of-mouth from other people. Nothing.
Here’s the schedule of upcoming events. Spread the word.
So, if you haven’t signed up to attend or host a meet-up yet, what are you waiting for? Hell, we’re paying for it.
Now, let’s dive into some of the tactics I shared in Shard 2 and explain how we are doing against each of them.
In going through the above list, I realized that there are about 100 little things that we didn’t even talk about, such as a number of changes to the website, 3 new videos in production, and updates to a lot of our marketing collateral, among many others.
We’ve also had tremendous support from throughout the organization with too many names to mention and it’s been rewarding to see the alignment improve cross-functionally as well.
Overall, we have some work to do and we need to improve in parts of our execution engine. Once those become finely optimized, we can both think bigger in terms of what we are able to accomplish and think farther out in terms of how to make sure we’re really on track.
Nevertheless, I think we’re aligning and executing well as a marketing team around the Radix vision of a radically better financial system. I’m really proud of the hard work of everyone in the marketing organization over the past month.
I hope you’d agree.
By RDX Works CMO - Jeremy Epstein