Proposal “Payment_Contest“ (Closed)Back

Title:Dash Payment Provider Contest
Monthly amount: 200 DASH (16613 USD)
Completed payments: 1 totaling in 200 DASH (1 month remaining)
Payment start/end: 2017-01-04 / 2017-03-20 (added on 2016-12-28)
Final voting deadline: in passed
Votes: 52 Yes / 467 No / 0 Abstain

Proposal description

Goal : Incentivise payment providers to increase payment volume from their customers by offering a contest prize.

The idea is to push payment providers to increase their transaction volume. In order for them to do this they will need to push their existing customers to trade more and on-board new customers. I will help them engage there customers about using Dash more (help them market to their audience). Its easier to grow more business from existing customers than getting brand new customers.

The contest will have 2 main prizes
First prize for greatest percentage growth (50 Dash)
First Prize for greatest Nominal growth (50 Dash)
There will be 2 runner up prizes for each category of 10 Dash each or 4 x 10 Dash (40 Dash).
Contest will start Feb 1 for month of Feb

This project will run for 2.25 months. First month gathering data, creating marketing material. reaching out to talk to payment vendors to let them know there is a contest and what the details are. Second month conducting the contest (Month of February) and first week of March awards presentation and final data compilations.

Gather a list of all Dash payment providers and start reading out to them about the contest.
Gather transaction statistics of Dash payment providers. This will benchmark performance and provide a deliverable data set to business
Develop marketing material for pre contest (countdown) and marketing during. 
Contest start. Marketing the contest on various channels.
Working with payment providers to engage their audience to sue more Dash
Collecting transaction Data and providing updates
Contest results compiled, winners selected, award presented and further marketing around it

Overall transaction volume will have increased amongst those that have participated in the contest. Transaction data for each contestant will be measured before and after the contest. A great excuse for some PR.

I will be reporting trading volume of contestants as needed

Dash Resources
Payment provider contact list and current transaction volume. Like to use Amanda B's Dash Detailed to market with.

140 contest prize (2 50 dash prize winners and 4 x 10 Dash runnerup winners)
200 2 months x 100 Dash
55 for marketing material 
5 for proposal fee

Who am I?
I am sales and marketing person from the capital markets industry. You can see who I am on Linkedin and my Youtube Channel

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
1 point,3 months ago
The incentive (500 USD) is too low for a payment provider to work as a carrot. To get things going, the price for the winner should be around 5000 USD.

I addition you would need some kind of "advertising expenses subsidy" for each participant.
0 points,2 months ago
Thanks Rango for the reply. I used 500 as a starting amount because it would be better to go through the process once and hear what customers have to say. I am sure there will be people who try to game the reward and doing the contest once will possibly demonstrate how. There is a budget for advertising expense subsidy and my salary falls under that as well.
2 points,3 months ago
To me, there are several flaws with this proposal. First, for this amount of money, we could work directly with CoinPayments or other altcoin payment processors directly. They have relationships with hundreds of retailers... how will this proposal even reach hundreds of retailers? This person doesn't have the same reach or direct relationships with merchants. Word of mouth is not a good approach to getting the most out of a promotion like this one.

Second, who cares about percentage growth? If I grow from $0 to $1, my growth rate is infinite! But that does nothing to move the needle for Dash. And almost by definition, this category would be won by merchants that don't have volume.

Third, how do you verify volume growth? Merchants aren't going to give you access to their systems, and then you are dependent on them being honest with you. If he worked with an altcoin payment processor, though, the winners could be certified by the payment processor.

In short, this seems a suboptimal way to promote adoption and is not well conceived.
0 points,3 months ago
Hi dash7476. Thanks fo taking the time to respond.

In response, is anyone working with coinpayments or other alt coin payment processors to foster and grow those relationships? My proposal seeks to work with all Dash payment processors and increase those retail and other relationships. It is my intention to engage these types of customers directly as they do have the audience as you have rightly mentioned.

You second point, lists the outlier example of infinite growth. If 100 merchants increase volume by 1 from 0 there are 100 new people using Dash that otherwise wouldn't. Who knows how much these ne relationships will grow afterwards. I dont expect to move the Dash needle in 2 months but step by step volumes should grow.

Third is a good point. How do I verify growth? This is a key metric of success. I lok to the dash community to point me in the right direction as I don't actually know how.

The idea of the contest is to help existing customers grow there existing volume with a dash reward incentive.

I do appreciate the feedback. With 70 no's your comments are invaluable.

Happy to get on a call and discuss further with you or any others who wish.
Steve (gethhead)
0 points,3 months ago
Is it just me or is the text in the proposal really big and impossible to read?
0 points,3 months ago
I fixed. Apologies