Save Polkadot with Sustainable Strategies
Polkadot marketing proposals must show measurable results
The recent Polkadot drama touches on various issues surrounding marketing, such as campaign effectiveness, user acquisition, and growth strategies.
Let’s start with some background.
What happened?
The drama includes allegations of overspending on marketing by the project, with some critics suggesting that the funds could have been better utilized to improve the technology.
Influencers and key opinion leaders (KOLs) have also been accused of paid shilling, something not new to crypto. Some suggest that these individuals were receiving large sums of money to promote Polkadot, while the efforts had little impact on the project’s new user acquisition or market cap. The cost of the KOLs was astounding to most, with such little provided in return.
The main expenditure in question is over $473k spent on a few different KOLs. One X user analyzed that Polkdadot spent over $130k per real follower. This does not even calculate the cost of acquiring new tokenholders, which is a better metric that would most likely be much higher.
In the wake of this costly decision, the project’s leadership has been criticized. Some question the strategy of Gavin Wood, the co-founder of Ethereum and also involved in Polkadot.
How can Persona help?
Persona could potentially help Polkadot address its underperforming marketing by leveraging our expertise in targeted advertising and onchain-powered audience engagement.
Here’s a step-by-step approach:
- Develop a targeted advertising campaign: Using the Persona platform, we would create a targeted advertising campaign aimed at maximizing market spend to attract real users through our exclusive publishers. This would involve promoting the benefits of Polkadot, highlighting its technical advancements, and showcasing its potential.
- Utilize onchain data for targeting: Persona’s platform is built on principles of value exchange and not value extraction. By leveraging onchain data for targeting, we would ensure Polkadot is in front of the top 3% of Web3 users. This would help ensure that advertising efforts are reaching the right audience, who are more likely to be receptive to the DOT message rather than bots.
- Provide a clear and compelling narrative: Persona3.io has design and copyright experts to help Polkadot develop a clear and compelling narrative that addresses the criticisms and controversies while helping to convert new users. This would involve highlighting Polkadot’s vision, technical advancements, and potential to drive innovation in the blockchain space.
- Monitor and adjust: Unlike the expensive KOL strategy that added little value, Persona would continuously monitor the effectiveness of the advertising campaign and make adjustments as needed. This could involve tweaking messaging, targeting different onchain audiences, or exploring new publishers.
The best part of utilizing Persona is that the budget could be received after certain milestones are reached to ensure the community is getting the best value. Once the value is financially realized, more funds could be released, creating a more sustainable marketing process.
Further, if Polkadot decided to also become a publisher, they could share revenue directly with holders.
Persona could help Polkadot address its marketing failures and improve its reputation within the Web3 community while acquiring REAL users.
