[Proposal] Budget Request for the Gitcoin EthCC Activation

Introduction

As part of the Ecosystem Collective’s mission to steward Gitcoin’s brand, we are excited to announce our plans for an exciting and engaging EthCC activation. This proposal outlines the budget for the activation, including expenses for events, merchandise, and travel.

This proposal aims to be in line with our 2024 IRL Events Plan.

Events

Below is our scheduled events for the week:

July 10th - Schelling Point Sessions: Grants Program Design

  • 250 pax event @ Jardin Brussels (half-day event)
  • More details coming soon

TBC - Grants Program Manager Appreciation Event

  • The purpose of this event is a follow up to our Grants Program manager day we ran in Denver
  • We’re hoping to continue to create opportunities to bring together the program manager community to connect, socialize, learn, and grow together
  • It is highly unlikely that we will need the entire requested budget for this event, but we did want to create maximum flexibility so that we can create a great experience for this group of people that we are keen to connect with and learn from
  • Venue TBD (evening event)

TBC - Evening event with values-aligned partners

  • Details for this event are still unconfirmed
  • We are in conversation with several other potential partner orgs who would cohost the event and share costs
  • In the case we cannot find any values-and-objectives-aligned orgs to partner with us, we will not run this event and return earmarked funds to the treasury
  • The idea here would be to work with partners who have reach outside of our usual audiences to position Gitcoin at the center or grants-and-capital-allocation-related conversations, in line with the Ecosystem Collective’s OKR to “Position Gitcoin as the source of truth for web3 grants”
  • Like with all our events, we aim to be prudent with the use of funds, trying to maximize the impact of an event and minimize costs, with all extra funds being returned to the treasury

Total Budget

The total budget for the EthCC activation is ~$41,000 (€37,600.00). This number is subject to foreign exchange rates.

Budget Breakdown

General

  • Travel reimbursements for the team managing and contributing to these events: €10,000

Schelling Point

  • Venue Rental: €8,700
  • Taxes / VAT: €2,000
  • Food & bev: €1,900
  • Merch total: €6250
  • AV Equipment: €1,750
  • Photographer: €1,000

Grants Program Manager event

  • Venue rental + food & bev (based on costs of similar EthDenver event): €3,000

Evening event

  • Venue rental + food & bev (based on costs of similar EthDenver event): €3,000

Total expenditure = €37,600.00 / approximately $41,000

Sponsorships

There are several conversations happening around sponsorships. Should there be any additional funds raised from sponsorships, those funds will go directly to offsetting these costs.

Return of Funds

It is likely that most of these event costs will come under what has been budgeted. The last thing we want is to have a bill that is higher than what has been request, so many of these estimates have been rounded up, with the expectations of creating wiggle room in our budget for unforeseen expenses (which tends to be an inevitability when running events).

The team is also 100% committed to being prudent with any spend, only using the DAO’s treasury for mission critical items.

Any leftover funds from the activation budget will be returned to the Gitcoin treasury.

Voting Options

If the vote is successful, funds will be sent to the Ecosystem Collective multisig.

  • Yes, fund the full EthCC activation for $41,000
  • No, do not fund the full EthCC activation for $41,000
  • Abstain
2 Likes

I think it would be helpful to resurface the objectives outlined in the 2024 IRL events plan to make this request more clear and compelling (+ so we don’t have to double click – good UX :+1: )

I’m aware of the Schelling Point Sessions plan but what is the scope of the other two events? I understand that you’re requesting budget for July so details may still be in the works but I think it would help to include as much as you can.

Also, just a note on merch costs, I know we’re planning something that we don’t feel at liberty to share publicly atm, so I will note here that the cost is higher than usual for a specific activation we have planned. Any steward is welcome to DM myself or @CoachJonathan for more details if that specific line item is curious.

2 Likes

Thanks for the comments, @Viriya.

  • I’ve gone ahead and added the IRL Events plan link
  • The scope of the other two events are tough to determine since they are highly partner dependent - that said I put more flavour into the proposal to capture some more ideas
  • Thank you for the merch call out! These costs are actually quite in line with our Denver costs and yes, I’m reluctant to reveal too many details since this is a very special activation and everyone attending our Schelling Point event will get their own piece of this merch
2 Likes

Thanks for the clear breakdown and proposal. This is really helpful.

In the events plan that you linked (which was really helpful by the way!) it calls out objectives for each of the events. Do we have thoughts on how we might measure the success or ROI on these events? I recognize that often these events are about driving narrative, the vibes and then also just general connection with others in the ecosystem. Is there a way we can tryt o measure the outcomes more though (ie, partner conversations had, number of new ecosystems using Grants Stack as a result of the event, etc.)

I am supportive either way, would just love to see more tracking of outcomes.

2 Likes

Thanks for the suggestion. I’d love to get better at reporting on events and PR, for sure.

Here’s a bunch of ways we can assess our ROI for events:

1. Audience Targeting:

  • Metrics: Measure audience engagement (e.g. registration v attendance numbers) and demographic data.
  • ROI Indicator: Increase in registrations and attendance from the targeted audience segments compared to previous events or benchmarks.

2. Venue/Location Selection:

  • Metrics: Track venue reputation and attendee feedback.
  • ROI Indicator: Higher attendee satisfaction scores, increased engagement with attendees, and positive post-event feedback.

3. Content Quality:

  • Metrics: Assess internal and external feedback on content relevance with post-event surveys.
  • ROI Indicator: Higher session ratings, increased engagement during breakouts or panels, and positive sentiment in post-event surveys.

4. Speaker Selection:

  • Metrics: Evaluate speaker profiles, session attendance, and post-session feedback.
  • ROI Indicator: Get an internal gauge on the relevance or alignment with our “Gitcoin = Grants = Growth” mantra.

5. Media Engagement:

  • Metrics: Monitor media coverage, social media mentions, and journalist attendance.
  • ROI Indicator: Increased media mentions, positive media sentiment, and expanded reach through media channels.

6. Partner Value Creation:

  • Metrics: Track partner satisfaction, leads generated, and post-event sponsor feedback.
  • ROI Indicator: Higher sponsor satisfaction scores, increased lead generation for sponsors, and positive post-event sponsor testimonials.

7. Holistic Success Measurement:

  • Metrics: Analyze various KPIs such as leads generated, press coverage, and event-specific goals.
  • ROI Indicator: Achieving or surpassing set KPIs, balanced costs against objectives, and demonstrating value creation for stakeholders.

8. Overall ROI Calculation:

  • Calculate the overall ROI by comparing the total event costs against the tangible and intangible benefits derived from the event, such as increased brand visibility, lead generation, and stakeholder satisfaction.

As there is quite a bit there, with a mix of internal and external feedback to be captured, I may tag in @Sov, @meglister, @Viriya and @CoachJonathan to ask specifically what we’d like to represent in our feedback form based on the above.