Gitcoin Performance Report

Gm y’all,

Hope no one misses me too much. Figured I’d share this report on work done relating to public relations and events.

During my tenure from July 2023 to July 2024, my role evolved significantly from being a DAO publicist to handling internal communications and events management, while continuing to focus on PR efforts.

Context

I joined Gitcoin under rather abnormal circumstances with the initial mandate to manage public relations for the DAO. However, my role felt like it swiftly and frequently shifted, adapting to new responsibilities while maintaining a focus on PR. A notable challenge was managing the PR for the Shell partnership announcement, a deal that had been in the works for 13 months prior to my arrival. Despite these challenges, I remained committed to securing media coverage and promoting Gitcoin’s mission.

As 2024 approached, I was informed about an impending reorg. I appreciated the heads-up. This preparation translated positively into the coverage associated with Gitcoin, particularly in Blockworks and Coindesk.

There was increased interest in Gitcoin’s activities following this, with renowned podcasts Unchained and The Defiant featuring the whitepaper release. Honestly, this is a PR professionals dream – like reverse solicitation. The sturdy management of the reorg comms certainly had an influence here :partying_face:

Around April and May, following an offsite event that felt like we were on the cusp of brilliant work, the situation was deteriorating in the background with more budget cuts looming. Eventually, this disturbance affected the activities at the Ecosystem Collective, placing undue stress on DAO members right ahead of a pivotal industry event. Despite these challenges, success was achieved.

Key PR Results

  • Number of Placements/Opportunities: 45 (19 in 2023 + 26 in 2024). That’s almost one a week, a rate that any agency would be pleased with :person_tipping_hand:
  • Approximation of Advertising Value Equivalency (AVE): $8,250,000. I would not focus on the specific amount here. ChatGPT conjured this up. Just know that it was :sparkles: significant :sparkles:.
  • Share of Voice: Deduced via a Share of Voice analysis that Gitcoin is the primary contender across certain coveted key terms. Gitcoin SoV % per term mapped against 5 other prominent decentralised organisations:
    • “capital allocation” = 20% dominance
    • “growth” = 3% dominance
    • “grants” = 19% dominance
    • “open source software” = ~42% dominance
    • “public goods” = ~42% dominance

Of course, these results should be judged in unison. As AVE cannot relay sentiment, nor can sentiment relay monetary value. At the end of the day, I find public relations to be a balance between art and science, so the scale oscillates between objective and subjective quite a bit. Make of these results what you will :slight_smile:

*I can no longer access the full list of coverage, but for anyone that may want to recover and review it, it’s called something like 'Opps & Coverage Tracker" in my old drive. Happy hunting! :dart:

Objectives

The primary objectives of my media coverage efforts were to:

  • Raise awareness of Gitcoin’s mission and projects.
  • Engage the community and potential contributors.
  • Announce and promote key partnerships and initiatives.

Methodology

To achieve these objectives, I employed the following strategies:

  • Press Releases: Issued regular press releases to announce major updates and partnerships.
  • Media Outreach: Conducted targeted outreach to tech blogs, blockchain news sites, and mainstream media.
  • Interviews and Guest Posts: Secured interviews for Gitcoin team members and arranged guest posts on relevant platforms.
  • Social Media Amplification: Leveraged Gitcoin’s social media channels to amplify coverage and engage with the audience.

Event Management Breakdown

Schelling Point Sessions @ EthCC[6] | July 2023

  • Supported by manning the booth and collecting content at Funding the Commons.
  • Supported with content creation and generation at the Gitcoin House.
  • Attended the EthCC main event and connected with relevant media onsite.

Schelling Point Sessions @ DevConnect Istanbul | November 2023

  • Supported the coordination of Schelling Point Sessions Istanbul, including the management of the in-real life quadratic voting experiment.
  • Supported the management of communications in relation to the American Cancer Society funding round.
  • Engaged with Kara Miley in relation to PR tactics on site.

Gitcoin Side Events @ ETHDenver | February 2024

  • Web3 Grants Summit - Grantee day
    • Total attendees: +80
    • Total cost: Approx. $2,000
  • Web3 Grants Summit - Program Manager day
    • Total attendees: +70
    • Total cost: Approx. $3,000
  • Welcome to Denver Social
    • Total attendees: ±50
    • Total cost: $2,000
  • Ecosystem Growth Summit
    • Total attendees: ±200
    • Total cost: $45,000
  • Schelling Point Sessions:
    • Total attendees: +50
    • Total cost: Approx. $2,000
  • Passport Invite-only Dinner
    • Attendees: +10
    • Total cost: Approx. $2,000

[BLANK] Canvas @ EthCC[7] | July 2024

  • Total Guests Registered: 210 (estimated 100 attended due to check-in issues)
  • Luma Event Page Views: 416
  • Luma Event Feedback: Three 5-star ratings
  • Total Cost: €14,176 ($15,376)
  • Sponsorship: $20,000 from Tally
  • Social Media Engagement: Awaiting data from team members
  • Feedback: Limited responses, but positive on breakout sessions and overall satisfaction

Summary of Monetary Impact

The financial outcomes of these events can be summarised as follows:

  • Total Sponsorship Revenue: Approximately $51,000 (including Electric Capital, Consensys, and Tally contributions).
  • Total Event Costs: Approximately $69,376 (sum of all events).

Considering the total sponsorships, the net financial impact, including cost offsets, stands at approximately -$18,376. However, qualitative benefits, such as increased brand awareness, media coverage, and community engagement, significantly bolster the overall value derived from these events.

Other Contributions

As mentioned above, my scope of work included Internal Communications, which entailed the following:

  • I regularly built out modular risk mitigation documents ahead of seminal announcements to make sure that only the relevant personnel were reviewing what they needed to. This helped keep everyone on the same page and prepared teammates for potential crisis scenarios while optimising resources.
  • I was responsible for disseminating internal updates across our channels, supporting @deltajuliet and @CoachJonathan directly. This involved promoting Gitcoin Pulse, curating the DAO Digest with @gaoa97 and @rohit, providing content support on the monthly update for @MathildaDV, and promoting engagement with surveys periodically.
  • Supported an internal security working group, reviewing reports from cybersecurity provider Doppel and relaying information as needed to protect the community of Gitcoin citizens and contributors.
  • Knowledge sharing across various channels, particularly the #ec-research-and-inspo in Discord, the PR corner in our department dashboard and via the monthly comms round up I did during 2023.

Disclaimer

None of this should be interpreted as the work of one person. None of the above would have been achievable without the support of MMM/EC.

This includes, but is not limited to (as I can only mention 10): @Viriya @cici @harryeastham @alexalombardo @krrisis. Others that I’m not able to tag are Gerrit, McKennedy, Lina, Louis, Coach, Mathilda, Rohit, Gary and Ericka.

It was great working with you all :clap:

Notes

AVE Breakdown of Outlets and Their Impact:

  • High-Value Outlets:
    • CoinDesk, The Block, Axios, Irish Times: These outlets are prestigious with highly engaged audiences. For these, a higher CPM (e.g., $50) might be appropriate.
    • CryptoSlate, Blockworks: Slightly lower but still significant, a CPM of around $30 could be justified.
  • Moderate-Value Outlets:
    • Cryptoast, NaciĂłn Bankless, BlockTrends: Niche but less reach, a CPM of around $20 might be appropriate.
    • Project Glitch, Culture3, Benzinga: Similar to moderate-value outlets, potentially a CPM of $20.
  • Other Outlets:
    • Rare Radio, DAO Times, UCD Convene Series, etc.: Smaller reach or very niche, a CPM of around $10 might be reasonable.

Details of AVE Calculation:

  • High-Value Outlets:
    • Combined UMVs: 24.9M (Axios) + 20.3M (Irish Times) + 1.7M (The Block) + multiple mentions in CoinDesk
    • Assume total combined UMVs for these top outlets around 50M.
    • CPM: $50
    • Cost of Advertising Space: (50M / 1000) * $50 = $2,500,000
    • Multiplier: 3
    • AVE: $2,500,000 * 3 = $7,500,000
  • Moderate-Value Outlets:
    • Combined UMVs: 916K (CryptoSlate) + 950K (Blockworks) + 409.2K (Cryptoast) + 265.7K (BlockTrends) + others
    • Assume total combined UMVs around 10M.
    • CPM: $20
    • Cost of Advertising Space: (10M / 1000) * $20 = $200,000
    • Multiplier: 3
    • AVE: $200,000 * 3 = $600,000
  • Other Outlets:
    • Combined UMVs: Various smaller outlets and niche audiences
    • Assume total combined UMVs around 5M.
    • CPM: $10
    • Cost of Advertising Space: (5M / 1000) * $10 = $50,000
    • Multiplier: 3
    • AVE: $50,000 * 3 = $150,000

Estimated AVE:

  • High-Value Outlets AVE: $7,500,000
  • Moderate-Value Outlets AVE: $600,000
  • Other Outlets AVE: $150,000

Total | $7,500,000 + $600,000 + $150,000 = $8,250,000

This figure feels more balanced and justifiable, considering the mix of high, moderate, and low-value outlets. It aligns closely with the initial rough estimate, but with a more detailed and thoughtful breakdown.

Considerations:

  • The adjusted total reflects a more cautious approach by assigning appropriate CPM values based on outlet prestige and audience engagement.
  • The multiplier remains at 3, which is reasonable for earned media’s added credibility and trust.

Share of Voice Summary Table

Term Dominant Brand Gitcoin SoV Key Insights
Capital Allocation Arbitrum 20% Gitcoin has a strong positive sentiment in influential outlets.
Growth Arbitrum ~3% Arbitrum faces negative sentiment; Gitcoin’s mentions are tied to restructuring and community grants.
Grants Arbitrum 19% Gitcoin features prominently in grant-related discussions with positive sentiment.
Open Source Software Gitcoin ~42% Gitcoin leads with positive sentiment; Arbitrum’s mentions are linked to protocol exploits.
Public Goods Optimism ~42% Optimism’s rebrand has mixed reception; Gitcoin maintains a positive presence despite some challenges.
9 Likes

One of the best people to work with - from collaborating on PR initiatives during your time at Wachsman to being the official cleanup crew at ETH Denver (among a million other things), I have zero doubts that your endeavors moving forward will be nothing short of magnificent. Can’t wait to see ETHDublin IRL and cheers to many more fun times ahead!

:airplane:

2 Likes

This is fantastic @quaylawn - Thank you so much for sharing. Appreciate the eff out of ya and the craic you’ve brought to Gitcoin (did I do that right?). You (and the contributors you’ve mentioned) have done such incredible work and I’m excited for your next steps. Like @jessicagitcoin said - your endeavors moving forward will be nothing short of magnificent. I’m excited to cook up new ways to engage you and the community for future initiatives. :black_heart:

1 Like

Massive +1 to what @jessicagitcoin said @quaylawn

Was a highlight of my year managing security (amongst other things) at ETH Denver this year. And in all seriousness, I have massive respect for the work you have done and the professionalism and drive you brought to it. Looking forward to seeing you somewhere around the globe soon.

2 Likes

thanks Rena :slight_smile: I definitely won’t be far away, you won’t get rid of me that easily lol

appreciate you boss, see you at half past! :hearts: