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We’ve now finished month #2 of Q2, 2022. A lot of 2s there, eh?
Anyway, you’ll recall from previous shards (here’s Shard #3) that our Q2 objective was to “Start Your Marketing Engines”.
We selected 3 Key Results to help us focus our efforts and to support our claim that we had, in fact, started the marketing engines.
(For a refresher on the OKR paradigm, please reference Shard 2).
Q2 Key Results
- 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)
Ok, so how are we doing?
Wallet Growth
We’re 35% of the way towards our goal of total wallet growth (with just under 8400 against a goal of 10,000).
That’s ok growth and we see consistency week over week, but nothing spectacular. In fact, we’re exactly double where we were at the end of last month. Assuming this pace continues, we’ll come in somewhere around 54% of the target. Given the aggressive nature of OKRs (70% attainment is usually considered ‘strong,’) it’s not bad, but this is an area where we need to increase our efforts.
The good news is that there are two job openings now that will go a long way towards ameliorating this situation, the Head of Token and the Exchanges and Trading Lead.
One of the signs of the ultimate success of our marketing efforts is that more people choose to make a commitment to our community and our vision. Token ownership is obviously one of the best indicators of that commitment.
Granted there’s a lag from the moment that someone hears about Radix towards the moment of #RadixRevelation and then putting “skin in the game,” which is why we look at this Key Result and why we focus on it.
Scrypto Repos
We are continuing to perform well against our goal of 1500 repo clones for the quarter (up from 600 in Q1), clocking in at 1331 as of this writing. In other words, we’re at 89% attainment, so we’re really pleased with that, as it’s a great sign of growing developer enthusiasm for Scrypto.
Hopefully, by now, you’ve seen some of the “developer love quotes” we’ve captured and begun promoting on social and paid channels. The quotes aren’t the only reason for our success, of course, but they are a good example of the strategy.
Our belief behind these quotes is that developers may not trust Radix, but they are more likely to trust the words of fellow developers. Obviously, these need to pass the “trust but verify” sniff test, which is why each testimonial has a link to the original quote.
Website Visits
The big event of May, of course, was our takeover of the Brave homepage on the 10th and the 11th. The results from that activity are nothing short of outstanding.
On those two days alone, we had nearly 250,000 visitors to the website, which, in and of itself, is 5 times our monthly average for Q1. Thanks to that push, we’re on track to come close to 100% attainment of our 450,000 quarterly visitors for Q2. The only downside to that is a 100% attainment of an OKR is a signal that we weren’t aggressive enough in our initial planning, so I guess we’ll have to shoot higher in the future.
Obviously, the more people coming to our website, the more people who are introduced to Radix and the more people who begin the road to the Revelation.
One thing we are going to be giving more attention to in Q3 is organic site visitors. While the strong growth we have had in total traffic is great, and something we will continue to increase, organic traffic is a strong indicator of brand awareness, SEO, and critically, word of mouth referrals. These are all things we can improve in parallel to our performance marketing.
Highlights of May Marketing Activity
If our objective was to “start the marketing engines,” I think we can lay claim to the fact that we’ve done that in many non-measurable respects.
For example,
- The Rekt Retweet series has become a regular feature, published every Tuesday, and has received tremendous levels of engagement from the community and beyond. What I love about it is that it’s extremely educational while reinforcing our unique value proposition.
- Our #RadixRevelation meetups are a phenomenon.
In May alone, I attended events in New York, Montreal, Barcelona, and Tel Aviv (I missed the Helsinki sauna because of a canceled flight) and we’ve also had ones in Bangalore, Singapore, Nairobi, Milan, and many other places.
The next goal for our Event Ambassadors is to scale the meetups. The first to do this is Avaunt, with the Atomic Series: London. The half-day event features keynote speakers, Web3 panel, presentations from the RDX Works team, and an after-party. Good chance you see an “Atomic Series’ Event in a city near you soon…
As you can tell I’m really excited about the growth of this program. You can see the list of upcoming events here.
- Our programmatic ads on Reddit, Brave, and Twitter continue to drive awareness of Radix amongst developers and token holders across the world as we add new countries to our targeting list. We’ve also heard a lot of anecdotal evidence from developers saying that they saw our ads, investigated Radix, and discovered the power of Scrypto as a result. If you discovered Radix from our paid ads, make sure you let us know in our Discord or Telegram!
- We’ve also seen incredible growth to over 175k followers on Twitter as well as on our other channels such as Discord, Telegram, and Reddit.
Our Brave takeover revealed that the campaign engine can rev when necessary. Alongside the huge influx of website traffic, the campaign had a massive impact on the Brave audience. Here are some of the highlights:
👀 49 million Impressions
🗺️ Overall awareness of Radix increased 28% on Brave since our takeover. That's an additional 2.5m people on their first step of their #RadixRevelation, with more than half of Brave users recalling seeing our ads.
👊 When asked, “Which Layer 1 will have the biggest impact on the financial system?” Radix was selected 8% following the takeover, now scoring equally to the Fantom Network.
💭 Radix’s brand perception increased significantly post-campaign, with 20% of Brave’s audience now believing that we might have the best technology of all Layer 1 protocols.
🛠️ 1 in 5 Brave users consider themselves a developer and since our takeover campaign, more than 33% of developers on Brave would consider building on Radix
This one was truly a team effort.
A few other highlights:
- By the time this goes out XRD will be added to Gate.io and MEXC, which is key to XRD being listed correctly on CMC.
- We’ve released our Core Story deck, as promised, and members of the community are already putting it to good use. You can get one by contacting Jacob, Kevin, or Farah, in any of our community channels. (Note: We’ll have an automatic download feature coming soon, but have some security tests to pass first.)
- The Radix Open Arena Chess competition had over 2700 players, coverage from popular live streams, participation 15+ IM or GM players, and generated some great awareness for Radix.
- If you want, you can download the Brave images as a desktop wallpaper by going here.
- I had a chance to speak at the Israel Crypto Conference on “What will it take to decentralize the $400 trillion global economy?”, and Piers will be speaking at The Crypto Valley Conference in Switzerland June 2nd.
- And we hit the back cover of the German Blockmagazin publication.
Looking Ahead to June Activities
We’re going to keep pushing forward in June to build on our May momentum and success. Our two cornerstone activities for the month are Consensus in Austin, Texas, and FooHack.
To dive deep into either of those, click on the links above. Also, in Austin, we’ll be building on the success of our Lisbon event with the next installment of our Scrypto Developer Event series on June 11th. If you know devs who would be interested in building the next $10 billion dApp, then make sure to tell them this is the place for them. To find out more, here’s the blog post, and here’s the event registration link.
Immediately after Consensus, we’re rolling right into FooHack, so it’s going to be a busy couple of weeks. We’ve also engaged a PR firm to help us spread the word about this remarkable event. NO promises yet, but hopefully we’ll get some additional coverage about this story of rocker turned Web3.0 coder.
Speaking of PR, we’re going to start ramping up our external PR efforts over the course of the summer and then build more as we move into the fall and Babylon beyond.
Also, in June, be on the lookout for a new community marketing grants program, designed to accelerate our experimentation, learning, and innovation. Target date for that announcement is June 21st. Codename: Dandelion. That’s all I’m saying now.
Lastly, we are continuing to grow our team, welcoming a new copywriter in early June to help make our paid media spend even more effective. We are also continuing our search for a Director of Marketing and are interviewing several top candidates.
At the end of the month, our team is going to go deep on Q3 OKR planning, so that we can come out of the gates fast on July 1 and drive towards the “Radix is Rising” corporate objective and its associated Key Results, by the end of September.
If - sorry - when, we do that, we should be well-positioned to get ourselves set up for the big Babylon Beta launch in December.
Ok, I think that does it for now.
We are looking forward to questions/comments/ideas in our Wen-Marketing Discord and, as always, we are grateful for your support.