Q2 2020 Update
Find out what adbank has achieved in Q2 and our plans for Q3
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:
Q2 finished very strong with many issues getting resolved. We also published our big announcement around the launching of RELAY.digital, a new project built off the back of the adbank and BLADE.software tech.
COVID-19 has created a significant number of problems in the world including significantly accelerating the trend of work from home. As a result companies that care about their culture are faced with the challenge of how to communicate important but not urgent messages. This is what we are excited about with RELAY.digital. You can read more about RELAY.digital and how it benefits the adbank community here.
A couple of significant challenges were faced including some reliability issues with the app in Firefox being out of the store for too long. We are back in now and the growth over the last month looks great!
We were also temporarily placed on the ST program at KuCoin but have since been removed.
Some other major milestones this quarter were achieved including a successful case study of a cryptocurrency project Skeinera using the task marketplace. Read their report here:
Q3 we are looking forward to pilots with RELAY.digital and a world’s first “easter egg” marketing campaign with the adbank platform.
The major tech updates in Q2 will be focused around the task marketplace, getting blade on another browser (to be announced) and RELAY.digital.
Update on key areas of the business
Tech
Q2 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.
- BLADE is live on Firefox once again!
- The Task Marketplace is live!
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’re excited to welcome Angus Crawford to the team. His position is with the Relay.digital B2B service offering and his role is to secure pilots for Relay.digital.
Runway
Our runway model projects past 2021.
Q2 achieved a major milestone where between capital efficiency and revenue from ECig Media we achieved one month of break even or as I like to call it infinite runway.
Marketing / Sales
Skeinera Task Marketplace Test
We were pleased to continue our partnership with Skeinera by running a test of the Task Marketplace with them. Read Skeinera’s case study here:
Monthly Referral Promos are Back
In Q2 we got BLADE live in the Firefox add ons store again and with that news, we launched the monthly referral promos again! Find out more here:
EssentialGoods press coverage
With the onset of COVID-19 the adbank team set out to find out if there was a way to help. Using existing tech from another project, the team quickly built EssentialGoods.org, an online shopping stock level notification system. While the service has been taken offline for now, we were happy to see the many mentions of the adbank team in mainstream media, including a very popular TV morning show.
Relay.digital, adbank’s B2B service offering
We’re pleased to announce Relay.digital, our B2B service offering built on the adbank platform. Find out how it works here:
Mainstream Media Coverage:
- CollingwoodToday (1st coverage)
- Benzinga
- CollingwoodToday (2nd coverage)
- Simcoe.com
- CollingwoodToday (3rd coverage)
- BossyNews
- Global News
We’re also always pleased with the grassroots support we receive through social channels like Twitter and Reddit!
Task Marketplace
We completed three new tasks on the Task Marketplace in Q2. We have been pleased with the results of each task with participation increasing, low levels of invalid entries, and quick token distribution.
In Q3, we are planning more tasks, with a focus on non-crypto industries. Our goal is to offer the Task Marketplace as a digital marketing offering which helps businesses boost their online presence through KYC verified social media followers.
Our 2020 Goals Progress — OKR progress
We are focusing on 2 main objectives:
1. BLADE User Growth to 100k
We were pleased to see some great growth once we were back in Firefox and able to get some referral promotions happening again! In Q2, we have gained over 6,700 new users.
Once per Quarter Mainstream Coverage:
- CollingwoodToday (1st coverage)
- Benzinga
- CollingwoodToday (2nd coverage)
- Simcoe.com
- CollingwoodToday (3rd coverage)
- BossyNews
- Global News
2. Effective CPM over $2.50
2a. Task Marketplace Tested and Rolled Out Generating Revenue for Users — The Task Marketplace has been working well with a case study for a crypto project completed in Q2. We are looking to test more non-crypto focused projects in Q3 and start driving more significant revenue.
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. We are excited to test this in Q3!
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!
