AN UPDATE ON THE MARKETING CAMPAIGN....can you tell us what's up???

[tonyk]

Thanks for representing the forum defense force and reminding me why I don't waste my time in this cheerleading echo chamber.

My only concern was that you decided to spend some of your valuable time in said chamber. For you own good, I wanted to save you that unnecessary and equally unpleasant experience.


PS
AdamBLevine.... you still remain my favorite coin developer... the developer of my 2 favorite coins (excuse my bias but I still can not choose just one) LTBCoin or DOGEParty... cause I am totally split
 
You rock!
Which one do you like more?

[AdamBLevine]

Hey guys.   

Quick update.....I can assure you we are working around the clock on the marketing campaign.  Just like the many months Dan and the devs were working on BitSharesX - where it seemed like nothing at all was happening, this too isn't as easy (or as fast) as any of us would expect or want it to be.   

The marketing team has been spending nearly every day (and most of the event in Vegas) speaking with "on-ramp" service companies in order to find the best solution for getting USD into BTSX and bitUSD.  We are VERY close, btw, with one of them.  In addition, we are working on an "off-ramp" partner who can provide a bitUSD direct to a prepaid credit card to allow users to get out of bitUSD without needing a normal crypto exchange.  We were hoping to find one company to do both, but no one is able to do both at this time so we have two different sides to develop for this platform. 

On top of both of those partnerships, we're looking for "backup" service providers in the event either one cant handle the volume we intend to push.  We need to tie in the API's on the back end for a seamless experience, build a separate site, finish producing the multiple videos that explain what/how/why of BTSX and bitUSD, and so much more. 

This project is more involved than it may look from the outside, but I can assure you everything is moving forward.  Like Dan, I'm not going to put a specific date on when all this will be completed and the "go" button pushed, but it WILL happen. And when it does, it will be plainly obvious it is a DIRECT result of our efforts.

As for transparency, we are not sharing all the details of how or where we're going to get all the new users we expect to see into our system, or precisely what we are doing, for obvious reasons.  No one in the industry is doing what we are attempting to do - which is the very reason we will have the results no one else is having. 

The team I've assembled is nothing short of top notch and has knocked it out of the park in many other industries.  I have no doubt they'll do the same with us.  We expect a VERY significant increase in new users, as well as capital, into both BTSX and bitUSD, once launched, so our goal is real growth, not "pumping" the value artificially. 

I know many of you are anxious and wanting to see big returns on the of time, money and trust you've placed in BitShares.  I too want all of those things.  We will get there, I have no doubts.  Stay tuned.... The day we launch, I'll make the forum aware of it immediately so you can see exaclty what we've created and send your own friends and contacts through the site, to participate. 

Thanks! B

Brian, you've described bizdev activities or  "business development".  What is the marketing plan?   

Do you think Bizdev (strategic partnerships and personal relationships) and Marketing (messaging) are the same thing?

Wasn't there a project called dogeparty?
That's what I call true marketing effort - AdamBLevine style!
https://www.youtube.com/watch?v=jUpW18Exw8g

You can find info about dogeparty at http://dogeparty.io, I think it's pretty easy to understand but it's important to note that Brian is the director of marketing for Invictus who has been paid a salary to do that job for more than six months.  I was never compensated in any way for my work on Dogeparty, and I donated my time/effort because I think its a valuable experiment.

Thanks for representing the forum defense force and reminding me why I don't waste my time in this cheerleading echo chamber.

[Riverhead]

Bitshares hit 1.0 as soon as the bitUSD peg held.

The market mechanics for sure but not the usability/functionality of the client.

[tonyk]

Can I ask highly appropriate question, in a highly unrelated thread?

Why we discuss all matters, in 3 to 7 parallel  threads at a time?

[oldman]

I'm not sure what you mean? I'm saying even if we had a 1.0 product, they're seeding the wrong demographic anyway.

I'm just genuinely curious to know what's worked out best in your experience. We've seen what happens when people wait until a product is super polished and miss the boat but also what happens when half baked software is released. I guess it would depend on the product, the demographic, and what else is in the market space (or will be soon)?

Bitshares hit 1.0 as soon as the bitUSD peg held.

[Riverhead]

I'm not sure what you mean? I'm saying even if we had a 1.0 product, they're seeding the wrong demographic anyway.

I'm just genuinely curious to know what's worked out best in your experience. We've seen what happens when people wait until a product is super polished and miss the boat but also what happens when half baked software is released. I guess it would depend on the product, the demographic, and what else is in the market space (or will be soon)?

[Method-X]

Is there an easy way to sort out early adopters from the general population?  Seems like every demographic has them so we have to run each whole demographic through an appropriate funnel to filter out the ones that will adopt early.  No?

Early adopters are people your product has utility for right now and are willing to take a risk on it. The boomer demographic you mentioned won't take a risk on BitUSD unless they see their grandkids using it (and even then it will be a hard sell). Personal computers were not marketed to old people even though PCs offered them utility; they were simply too risk averse. But when we look around today, even the boomers are pretty comfortable using computers because their kids taught them.

Or are you saying that current crypto users are precisely these early adopters for our products and we should only market to them?

Disruptive technology starts off in the underground and spreads from there to broader and broader demographics. Think of it like planting a seed in the most fertile soil. Eventually the seed will blossom and spread to the areas around it. It starts off in the most fertile soil but eventually its offspring end up everywhere. What would have happened if you initially planted the seed in sand?

How close to a finished product do you get to before starting this? I feel that's the critical question. Would you start this with beta software, release candidate, or 1.0? We know what i3's choice is. What's yours?

I'm not sure what you mean? I'm saying even if we had a 1.0 product, they're seeding the wrong demographic anyway.

[Riverhead]

The strategy we use is called "piggybacking". That means we try to identify a market of early adopters that need the product/service right now and focus on catering to them. If the product "catches" and successfully establishes a solid niche userbase, it will organically spread to other areas (think vertical growth vs. horizontal growth). The niche we originally focused on acts as an advertisement for the utility of the product, allowing it to grow horizontally and eventually it reaches a mainstream audience all on its own.

How close to a finished product do you get to before starting this? I feel that's the critical question. Would you start this with beta software, release candidate, or 1.0? We know what i3's choice is. What's yours?

[oldman]

I3 seems to be hunting big game.

This is fantastic, but the community can't follow the stalk.

So it's a bit frustrating for many shareholders.

I would propose a placation:

Implement multisig and integrate bitUSD into OB.

Low input cost, fast turnaround, discrete work package. Wham, bam.

This will satisfy the community and a create a potential viral insertion point into the crypto-crowd.

[Stan]

I know you strongly believe in that MeTHoDx. And as much respect as I have for the knowledge and experience you have, I do not get why we have to limit ourselves when the sky is the limit?

I'm not suggesting we limit ourselves at all. I'm pointing out that technological adoption has a VERY predictable cycle and it makes more sense to leverage that knowledge vs. fighting against it.

Is there an easy way to sort out early adopters from the general population?  Seems like every demographic has them so we have to run each whole demographic through an appropriate funnel to filter out the ones that will adopt early.  No?

Or are you saying that current crypto users are precisely these early adopters for our products and we should only market to them?

[Method-X]

I know you strongly believe in that MeTHoDx. And as much respect as I have for the knowledge and experience you have, I do not get why we have to limit ourselves when the sky is the limit?

I'm not suggesting we limit ourselves at all. I'm pointing out that technological adoption has a VERY predictable cycle and it makes more sense to leverage that knowledge vs. fighting against it.

[Stan]

The strategy we use is called "piggybacking". That means we try to identify a market of early adopters that need the product/service right now and focus on catering to them. If the product "catches" and successfully establishes a solid niche userbase, it will organically spread to other areas (think vertical growth vs. horizontal growth). The niche we originally focused on acts as an advertisement for the utility of the product, allowing it to grow horizontally and eventually it reaches a mainstream audience all on its own.

If I've been understanding the marketing talk correctly, I think that the niche that the team is pursuing is the people who are interested in getting into the cryptocurrency market but want to be able to protect themselves against volatility.  That's why I'm assuming they're focused on marketing bitUSD rather than directly marketing BTSX.

We will have multiple "funnels" custom-designed to bring different demographics into our ecosystem.  Definitely not one size fits all.  The list of funnels will grow over time.  Low hanging fruit is specific populations that are losing trust their own currencies (e.g.  Greece, Argentina, United States, Bitcoin ... ).

In the US there are many demographics, but the biggest two-way partition is those who are awake vs. those who are asleep.  Seems to make sense to target those who are awake first.  That (we hope) is the fastest growing demographic.     Every black swan currently on final approach will grow this group when it touches down, waking more people up and generating another flood of "refugees".  We'll need a custom funnel for each one.

But really, its mostly about using different hooks to achieve the same goal:  overcome resistance and inertia in the average consumer.  After people have safely and pleasantly experienced BitSharesX as the most competitive bank in the world, the hardest marketing task is essentially complete.  It will simply out-perform everything else out there.  "Yield on savings and checking with the ability to instantly switch which currency mix to store in your own private vault and instantly wire it anywhere in the world with none of the current systemic risks."

Then its all about sustaining a good customer experience.

This is encouraging! Can you confirm you're not trying to market this to mom and dad? That's what all the marketing talk sounds like to me.

Well, one demographic that is already desperate is every baby-boomer who planned to live off their savings in retirement.  They are seeking risk-free yield.  The world financial system is offering them yield-free risk.  Sounds like a big opportunity to me.

Now we just have to flip their perception of real and perceived risk.  Whole new sales pitch.  Whole new funnel.

But we'll probably have to reach them through older, more expensive media channels.  It will take a while to get our marketing budget up to Super Bowl / World Cup size.

Oh wait, I'm talking about my own generation!  You'd be surprised how many of us use the Internet (to shop for laxatives, and dentures, and um, catamarans.)  I've been through quite a few funnels myself, now that I've learned to recognize them.   

"Are you sure you want to leave this page?  I'm about to get to the point..."

[tonyk]

Great question.



It seems to me this marketing plan completely ignores both chasm 1 and chasm 2. Bitcoin had so many potential uses cases but failed to cross chasm 2 because of its volatility. I'm betting BitUSD will cross chasm 2 all on its own but to do so it needs to establish itself in some of the chasm 1 use cases. I see us as the innovators and we need to establish a solid base of early adopters before trying for the early majority. The early majority follows the early adopters and without them, they'll see "BitUSD" as too risky.

I know you strongly believe in that MeTHoDx. And as much respect as I have for the knowledge and experience you have, I do not get why we have to limit ourselves when the sky is the limit?

And do we have to continue carrying on this restricting shell?

Plus, we already have one 'open minded' innovative company chose to go the turtle way and building a reptile of their own.


References to Turtle: *a slow-moving reptile, enclosed in a scaly or leathery domed shell into which...


Someone said a day or so ago:
 It is BTSX and turtles all the way down!  N.

And subscribe for that!

[Method-X]

The strategy we use is called "piggybacking". That means we try to identify a market of early adopters that need the product/service right now and focus on catering to them. If the product "catches" and successfully establishes a solid niche userbase, it will organically spread to other areas (think vertical growth vs. horizontal growth). The niche we originally focused on acts as an advertisement for the utility of the product, allowing it to grow horizontally and eventually it reaches a mainstream audience all on its own.

If I've been understanding the marketing talk correctly, I think that the niche that the team is pursuing is the people who are interested in getting into the cryptocurrency market but want to be able to protect themselves against volatility.  That's why I'm assuming they're focused on marketing bitUSD rather than directly marketing BTSX.

We will have multiple "funnels" custom-designed to bring different demographics into our ecosystem.  Definitely not one size fits all.  The list of funnels will grow over time.  Low hanging fruit is specific populations that are losing trust their own currencies (e.g.  Greece, Argentina, United States, Bitcoin ... ).

In the US there are many demographics, but the biggest two-way partition is those who are awake vs. those who are asleep.  Seems to make sense to target those who are awake first.  That (we hope) is the fastest growing demographic.     Every black swan currently on final approach will grow this group when it touches down, waking more people up and generating another flood of "refugees".  We'll need a custom funnel for each one.

But really, its mostly about using different hooks to achieve the same goal:  overcome resistance and inertia in the average consumer.  After people have safely and pleasantly experienced BitSharesX as the most competitive bank in the world, the hardest marketing task is essentially complete.  It will simply out-perform everything else out there.  "Yield on savings and checking with the ability to instantly switch which currency mix to store in your own private vault and instantly wire it anywhere in the world with none of the current systemic risks."

Then its all about sustaining a good customer experience.

This is encouraging! Can you confirm you're not trying to market this to mom and dad? That's what all the marketing talk sounds like to me.

[hpenvy]

I really hope a payment processor is in the works as well. As processors such as GoCoin continue to break into new markets, we want to make sure BitUSD is along for the ride. I know they are looking into the casino market, I'd like to be there for that ride.