Following PIP-36, this post introduce a concise way to move forwards Growth initiatives by the community.
Growth Experiments have the only goal to increase TVL by increasing awareness, acquiring new customers, and retaining existing customers.
- Every GE need to have a Champion responsible for the success of the operation.
- GE need to have clear: goals, start time and end time as well as ways to measure success.
- A starting Budget can be deployed for a GE.
- Successful GE can be repeated at larger scale.
How to design a GE?
- [ ] Define the GE with a name, start-date, end-date.
- [ ] Define the GE Hyphotesis behing it
- [ ] Define the GE methodology for metrics and a definition of success.
- [ ] Define the GE resources needed.
- [ ] Define the GE confidence rate (1-10)
GE Name: Sponsor Today in Defi
Time frame : Week 5 to Week 9
Hypothesis: Today in Defi will lead to more traffic and TVL.
Description: Contact Today in Defi. evaluate rates and understand target audiance, then run a sponsorship for 4 weeks & evaluate the data.
Metrics: CTR of people from the sponsor converting into using the Oven.
Definition of success: 20% conversion in 4 weeks and at least $100k minted.
Resources: $1000/month for sponsorship, dev time to setup analytics tracking from the blog to conversion, design help for graphics.
Deliverables for GE Champion
- [ ] Produce a weekly report of the experiment for the entire perior.
- [ ] What worked well?
- [ ] What worked poorly?
- [ ] Improve the playbook accordingly
- [ ] Present results of the GE to the monthly community call.
GE will be prioritised according to what brings the most impact (Definition of success) with higher confidence rate and lower effort required.
GE Champions which have their proposal selected are eligible to a rewards from ($1000 to $3000) depending on impact, duration and success of the GE, rewards have to be distributed at the end-date of the GE following the submission of deliverables.
The Treasury Committee reserves the right to give a bonus for “Outstanding results”, which definition is up to the discretion of the Treasury Committee.
To submit a GE, create a forum post in the Growth Section with the description of your Growth Experiment.