2024 GMV Strategy Overview - Grants Lab
Summary
Our primary objective for 2024 is to triple our Gross Merchandise Value (GMV) from 2023, aiming for $15 million, with a Big Hairy Audacious Goal (BHAG) of reaching $50 million. Although we’ve had a slow start, achieving only 10% of the $15 million target in the first quarter, numerous opportunities remain to be seized. This document outlines our strategic bets across product opportunities and the investments necessary to reach our GMV goals this year.
Key Points
- Market Focus: Maintain a focus on web3 and EVM, as we believe this market is sufficient to meet our targets and we have the most strategic advantages in.
- Go-to-Market (GTM) Strategy: Expand the scope to accelerate opportunity creation, emphasize a land-and-expand approach, and improve our software development process to create more impactful features.
- Product Strategy: We predict 60-70% of our GMV will come from QF on Grants Stack, with the remaining 30-40% from other initiatives like EasyRetroPGF and Allo builds. Other product bets will be limited in Q2, with a review planned at the end of the quarter.
Detailed Strategy
QF on Grants Stack
Main Objective: Enhance our QF business via Grants Stack GTM and product improvements to achieve the majority of our GMV this year.
Challenges and Solutions:
- GTM Execution: We need to accelerate our GTM efforts with newly hired key personnel, focusing on rapid execution.
- Product Improvement: Elevate our Grants Stack product from good to great, demonstrating our capability and innovation to the market.
Key Actions:
- Expand Opportunities: Move beyond L2s to target large tokenized treasuries, such as LSTs/LRSTs, GameFi, DePIN, and DeFi 2.0 memecoins.
- Q2 Goal: Identify and pitch to new segments, securing a new client in one of these areas.
- Land and Expand Strategy: Increase initial commitment sizes and provide a clear roadmap for clients to increase their spend.
- Q2 Goal: Ensure client satisfaction and higher investment through excellent service and new service models. Target commitments from Avalanche, Polygon, and Zuzalu for larger subsequent rounds.
- Product Advancements: Implement enhancements based on customer feedback, such as MACI, whitelabel solutions, fiat checkout, and support for new tokens/chains.
- Q2 Goal: Improve core QF product and UX, embracing the Unix philosophy and enhancing the user experience, particularly for managers and builders.
Other Bets: Allo Builds and Easy RPGF
Objective: Generate $10M+ in GMV from innovative product bets, with a focus on Allo builds and Easy RPGF.
Key Initiatives:
- Allo Builds: Engage with integrators like REDACTED, 1Hive, Streaming QF and explore future opportunities.
- Easy RPGF: Build on the success of the OP RPGF Version 3 and evaluate scaling opportunities post-pilot.
- Q2 Goal: Achieve $1M+ commitment from the large pilot program and build a pipeline to $5-10M for the year.
Direct Grants: If Allo builds and Easy RPGF don’t gain expected traction, shift focus to Direct Grants v2.
Long-Term Vision and Experiments
Builder Ecosystem: Encourage other builders to develop on top of Allo, prioritizing high-potential opportunities like the Arbitrum LTIP.
Continued Innovation: Conduct ongoing experiments with new ideas like Easy Protocol Guild and other initiatives from the Rainbowpaper.
Ambitious Targets
Why $50M?: Despite the ambitious nature of the $50M target, it serves as a stretch goal to drive innovation and growth. We are leveraging a favorable market, recent product releases, and our strong brand and community to aim high.
Conclusion
By setting quarterly targets and continually refining our strategies, we aim to achieve our GMV goals while fostering growth and innovation. Our focus remains on leveraging existing strengths, expanding into new opportunities, and maintaining a customer-centric approach to drive success throughout 2024.