[bisq-network/compensation] For August 2018 (#115)

[Steve Jain]

> Perhaps my 1500/mo figure is off by a wide margin after all.

I think it's easily off by a factor of 2 or 3.

At the same time, part of the reason for Twitter's effectiveness _right now_ is months of savvy management by @cbeams to get to this point. But valuing marketing is hard because you can put the same considerable effort in month-to-month but get wildly different results. 

You may get nothing for a very long time as you build an audience, whereas you'll get relatively huge results for the same work with a huge audience. We're past that dark period for Twitter, but I don't think we're there yet anywhere else.

This means it's unreasonable to value marketing work on a developing platform by results, but it's also unreasonable to value marketing work on an established platform by results. Marketing needs to be valued by effort/hours put in. But because marketing efforts have varying levels of impact, unlike delivered code (for example), we need stakeholders to agree which marketing work is best to do in the first place. Which means, as @ManfredKarrer suggested above, that we need to collectively determine a monthly budget stakeholders find acceptable to spend on marketing.

Personally, I did not vote for this proposal because I didn't think the Reddit work was worth that much. @HarryMacfinned I value the time you're spending there, but I see Reddit as being more useful as a support forum than a marketing tool. Reddit can be hugely powerful as a marketing tool, but that power (in my experience) comes from targeted posts & comments in HUGE subreddits (like 1,000,000+ subs). That's the only way get any attention there. Otherwise, with a small following, you're basically in a room by yourself talking to yourself (even if posts there are getting >100 views, they're getting little to no exposure outside the subreddit...which means there's a near-zero chance of going viral). Contrast that with a platform like Twitter: even with a small following, you're still talking to yourself most of the time BUT you're in the same room as everyone else, so you have a decent chance of going viral with any single post. YouTube also has this benefit.

Once we have a monthly budget, we can determine how many platforms we can financially support marketing on. Then we can determine which platforms those should be. Where do our most probably new users hang out? Twitter is an obvious one, email should be another one, but I'm not sure about another one. Reddit may show promise, but frankly I've never seen anyone interested in Bisq link to Reddit. Maybe YouTube?

I think we should also consider partnering with existing channels for exposure instead of trying to build our own channels. Twitter is crucial, and we've nailed that. Others are questionable/TDB. Perhaps it's better to spend time getting interviews on the many great podcasts & YouTube channels, doing guest blog posts, etc. on channels that already exist. The bang-for-buck factor will be through the roof, and if we pick smartly, we'll KNOW we're reaching the right people. Bisq has a stellar brand and the trust of many of the smartest, most prolific figures in Bitcoin—we should make use of it.

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