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adbank blog

Q1 2020 Update

2020 has been a wild ride so far — find out what adbank has been up to!

As always, the update will cover the following sections:

Outlook and reflection from the CEO

Update on key areas of the business

  • Tech
  • Team
  • Runway
  • Marketing / Sales

Our 2020 Goals Progress — OKR progress

Summary of adbank’s goals in 2020:

You can find our last big roadmap update here. In this post, we outlined what has been achieved so far up to 2019, and the goals for 2020.

Jon (CEO) Outlook:

Q1 had a load of roadblocks for us, specifically the removal of the BLADE extension from the Firefox store for just over one month (we are live now!). Fortunately these issues are now behind us.

We progressed all of our main fronts and achieved many of our goals but certainly not all.

Q2 and COVID-19 is creating an entirely new set of problems in the world. Display spending has dropped by an estimated 40% and for how long is presently an unknown. On the bright side, there are some fresh new problems our tech is uniquely positioned to solve. One opportunity is an application for communication with remote teams that we had in our bucket of future ideas. We are accelerating its progress to jump on the current market need.

I anticipate early in Q2 we will be announcing a new team member joining to spearhead the efforts of applying the adbank technology to a new use case for communication with remote staff. We will share more over the coming months on this effort and how it will leverage adbank technology and introduce it to thousands of users.

The Task Marketplace was well received and will remain a focus along with user acquisition through monthly referral campaigns.

We will look to run more Task Marketplace tests while we are live in the Firefox store during Q2. We require more feedback before further development occurs for the Task Marketplace.

In Q2 our development focus will be on efforts related to a few new projects, including the new opportunity for communicating with remote teams.

Update on key areas of the business

Tech

Q1 there was work being done to set the stage for the task marketplace as well as for the enterprise remote work play we will be sharing more information on in the coming months.

Team

You can see everyone on the team on the website at adbank.network and you can read about the final re-org in this blog post. Once we have reached an amount of active daily users on BLADE, we will bring on a dedicated Sales Lead with industry experience and shift resources back to sales. For now, the team is working on aggressive user acquisition strategies.

We expect to announce a hire early in Q2 to pursue the adoption of adbank technology by larger companies facing challenges with remote work.

Runway

Our runway model projects past 2021.

Q2 achieved a major milestone where between capital efficiency and revenue from ECig Media we achieve one month of break even or as I like to call it infinite runway.

Marketing / Sales

Skeinera partnership:

Adbank is excited to partner with Skeinera on a multi-phase test of the adbank platform, including the Task Marketplace. The adbank platform consists of several branches, all based on adbank’s Ethereum-based blockchain system that utilizes the ADB token to transparently show advertisements. Read the full announcement here.

This announcement achieved coverage from CoinNewsSpan.

Task Marketplace

The Task Marketplace completed the first task and Task #2 is live! Read more about the Task Marketplace here:

New adbank website!

One of our Q1 objectives was a complete overhaul of the adbank.network website. It is now live, so take a look at the light and fresh new look! Advertisers and Publishers on the adbank platform can sign up and access their dashboard from adbank.network.

One of our ongoing objectives is always mainstream coverage of all aspects of adbank, including BLADE and the Task Marketplace. In Q1, we were able to secure two pieces of coverage:

Our 2020 Goals Progress — OKR progress

We are focusing on 2 main objectives:

1. BLADE User Growth to 100k

We were pleased to see a steady growth in the beginning of Q1. Things slowed once BLADE for Firefox was offline for a period of time. Now that BLADE is live for Firefox, we anticipate the growth to continue.

Monthly Incentive Campaigns — we have put the monthly campaigns on hold while we did maintenance on the extensions. Now that BLADE is live for Firefox and Chrome, we will relaunch the monthly campaigns in Q2.

Once per Quarter Main Stream Coverage:

As we noted in the Marketing / Sales sections above, we secured two features as well as coverage of the Skeinera partnership:

2. Effective CPM over $2.50

2a. Task Marketplace — Tested and Rolled Out Generating Revenue for Users — The Task Marketplace has been launched and the first beta test task has been completed!

2b. World’s First Ad Creative Case Study — In 2020 we will test and demonstrate as a case study the increased engagement a brand can get from an “easter egg hunt” campaign that can only be run on BLADE. This is planned for Q2 2020.

2c. New adbank website — The new website is live at adbank.network!

The 2 key results for increasing CPM are about leveraging the unique position BLADE is in to drive up the CPM to the audience that the advertisers want to be advertising to as well as finding a way to generate value in audiences that advertisers are not currently spending money to advertise to.

Don’t forget to join the Telegram channel here to chat with the team and get all the news first!

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