Please describe your proposed solution.
Cardano4Seniors Hubs is a continuation and expansion of the Community Platform C4S which was funded in F8 to begin to develop an educational and YouTube outreach based on our ELI65 language.
There currently are two billion Seniors globally that UN studies state will double within the next ten years. That will be a 4 billion niche market.
Everyone of us lives with, knows one or is a Senior Citizen. We are in every nation and social profile and are often marginalized due to age with LGQBT seniors even more so, often due to no support from children.
Project Catalyst needs talent to be part of our community for proposal assessments, proposal mentoring, community governance, and so much more. Seniors, often retired incorporate some of the brightest, highly trained minds. Teachers, medical professionals, coders, business people, housemakers, farmers and more that would enhance the Catalyst infrastructure.
Globally, seniors have control of a great amount of wealth. A Crypto platform requires liquidity to remain stable and to expand. Four billion Seniors are certainly a market that could bring enormous liquidity to Cardano or any other Ecosystem. It is critical for Cardano to posit itself as the crypto for Seniors, without being or appearing to be predatory by educating Seniors about DeFi with Risk Management principles. Cardano needs to begin to design and build Dapps specific to the needs of this Huge niche. But, we need to set up the infrastructure to attract, educate and onboard Seniors using tools suitable to their style of learning and socializing.
The Seniors of the world are the demographic of the first global environmental movement. The Conservative movement started with the current Silver Tsunami. Earth Day, Green Peace and so many more Global initiatives were founded by our seniors who may now be retired with their true potential ready to be harnessed. Cardano as the Green Cryptocurrency should consider the potential good the Seniors of Cardano can do for Mother Earth.
Cardano for Seniors thru several initiatives is building a community platform that in effect will be a wide spread funnel to attract, educate, and onboard Seniors to the Cardano family, while performing Socially positive activity.
This proposal is a second spoke of wheel so to speak. The first was the funded C4S-Cardano4Seniors proposal in F8. This will utilize and expand on that thru the use of Social Media Clubhouse.
<u>C4S will initiate and moderate several hourly chats in the Clubhouse Platform for Seniors</u> to have a safe place to participate or just listen. There will be a coffee hour, an hour with the RN, an hour for LGQBT, a 5 o’clock somewhere hour, delivered through this funding stage. With plans to expand to a Spanish, Italian and other languages and topic social hours. Some considerations include: Senior Woman’s topics, Sex after 60, Cooking on a Senior Budget and Global Climate Activism for Seniors. These social hours for seniors are intended to engage Seniors and provide a virtual community hub.
<u>Do you have a concept for our Clubhouse?</u>
Please describe how your proposed solution will address the Challenge that you have submitted it in.
Fund 9 has several stated Strategic Goals that require every Proposal to align itself witin each Challenge. The very first Strategic Goal is <u>"Prepare a group of people willing and able to make contributions to the ecosystem" .</u> It even states in the Proposal Assessors Guide that if the proposal does not meet one or more of the above attributes then assessment prioritization by PAs and voters should favor proposals which do meet these goals.
Clearly this and all of the C4S Community based proposals are specifically targeted at 'Preparing Seniors (a group of people) to make contributions to Catalyst'!
One of the other Strategic Goals is to "Build real-world solutions based on the Cardano blockchain". C4S is building this Community platform for global Seniors to that end. Eventually, there will be a Senior Community with specific DApps, native Token, and more. In summary of the Strategic Goals C4S-Cardano4Seniors is being built as a Community platform that meets two of the four Strategic goals for Fund 9.
Cardano4Seniors -hubs, also directly addresses two of the main statements of the DApps, Products and Integrations Challenge and the third under ‘Many Others’. Social Media (SM) and Nations Governance systems are direct solutions to those stated in the Challenge.
Social Media including Facebook, which studies indicate is the largest used social media by Seniors will be used for marketing, advertising and initial engagement, as well as a Senior attraction funnel.
Clubhouse, a newer bi-directional chat room social media will be utilized to engage Seniors in educational, moderated conversations within social hour topics.
Youtube will be used for PR broadcasts as funded in f8. It will also be integrated in this new initiative with Clubhouse so chatters can see and interact with the social hour moderators.
Some readers may notice some similarities to Twitter spaces or Discord channels or Zoom and ask why or criticize this initiative. Fair enough, though our F8 successful proposal was based on learning how Seniors (studies indicate we change how we absorb new material as we age) learn. One noted statistic regarding Seniors & Social Media use from Pew Research is while Seniors shun most ‘new’ social medias, over 60 (aged 50+) percent use Facebook. FB was a safe, easy and early adoption by many, now Seniors. They do not by significant numbers use Twitter, discord or many other Socials.
Clubhouse, while new is an easy adoption social media. There are little distractions or new skills to learn such as with Telegram, Discord and Zoom. With Clubhouse you enter your Clubhouse room and listen or talk. If the Senior desires they will also be able to open YouTube to the C4S channel to see their host for a more dimensional experience. This SM is easy to learn and adopt. Because of this we expect a higher utilization rate.
Due to its high rate of Senior adoption Facebook will be utilized as the marketing SM to initially attract Seniors to The Cardano ecosystem. By utilizing targeted Facebook paid ads our funnel will begin attracting Seniors to our YouTube, Web and other SM based awareness. The purpose is to tradition them onto the Cardano4Seniors Clubhouse with any one of the hosted programs. This is all designed to have multiple educational touches as we funnel them into the Cardano community.
The second direct Challenge Statement addressed ‘Nations Governance’ is by the process directed towards onboarding Seniors to Cardano and Catalyst. There are many talented Seniors who may welcome a side gig to supplement their fixed income by putting their experience to work in Catalyst Governance. Retired educators, legal professionals, technology experts, health workers, environmentalists, etc are some of the seniors we are looking to attract and onboard.
The talent pool within the billions of global Seniors is a goldmine for Catalyst. C4S through this proposal will set up a long term Community based platform to attract, educate with an emphasis on Risk Management and onboard the growing number of talented Seniors.
Please join our Community team in this outreach!
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
The main risk would be not receiving funding for this continuation proposal. Our successful fund 8 proposal stated that it was the initial stage in developing our platform. This proposal is part of phase II in the establishment of our Senior education outreach platform. The mitigation would be to coast until future Catalyst Challenge fund and apply again.
The secondary risk is insufficient traction with our target audience to achieve sufficient onboarding. In traditional, established industries there are algorithms designed to calculate how much a customer/client/community member is worth on a lifetime basis and how much should be invested to convert that person to a customer.
Resarch has not provided reliable data for customer conversion costs specific to DeFi. We are not aware of any such formula, but after attending Consensus 2022 and witnessing the displays, giveaways, expensive booths and other trappings we estimate this number to be very high.
Our proposal, proposes to spend the majority of our marketing budget on targeted Facebook ads as data shows ~51% of Seniors 65+ and ~60%of Seniors 50+use Facebook. The closet SM platform used are LinkedIn at 13 & 24. % respectively and Pinterist at 9 & 14%. While Twitter and Instagram see percent numbers of 5 & 9 and 1 & 6 respectively.
Since this is a new initiative to create a funnel for Senior attraction, engagement, involvement, education and Onboarding of Senior Citizens it is beginning without a Prospect or Suspect list. Such phone and email lists are available but are an aggressive, intrusive and typically - ‘a not trusted by Seniors’ approach.
These robo-phone & email “marketing” approaches may be a mitigation strategy but are typically low return and not as trusted as the SM insertion approach. Insertion into trusted Social Media is typically better, higher success rate and with a ‘more trusted’ result. Our mitigation strategy is to not rely on just one SM but rather use a multi-channel approach. The Cardano4Seniors YouTube programs will be airing by f9 funding and should begin to gain traction by November/ late Q4 2022.
Along with the YouTube channel we have started using Linktree(see media link) to begin to imbed all SM pushes. So a multi faceted social media build up prior to media spending on FB, along with Press Releases and Medium articles would be our mitigation strategy, currently.