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Rebranding of TRAVALA? The community is asked to decide (and to pay)

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@spinvest-leo
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Today a new community proposal went live on Travala.com. It will start 25th of April (voting is open until 28th of April) and is asking for US$200.000 from the Community Pool to execute a comprehensive brand refresh. Before we will discuss it in detail, let's have a look at the Project Goals, Benefits and Key Deliverables as indicated in the proposal

PROJECT GOALS

  • Create meaningful change within our business and help to better define who we are and what we stand for
  • Develop a new brand platform that encapsulates the brand and drives everything we do inside and outside of the business
  • Use these new brand assets and learnings to support and propel our new growth strategy for 2022 and beyond

BENEFITS

  • This project will create enormous opportunities and benefits for Travala.com and the community by helping to:
  • Establish Travala.com as a leading player in the crypto and travel space
  • Build a brand that can earn the trust of business leaders, technical leaders, and everyday travelers
  • Attract new users that will generate more revenue, increasing Ambassador Bonuses for Smart Diamond members
  • Incorporate and highlight the unique value offered by AVA within the brand
  • Increase allocations of AVA for the Community Pool with new users and more revenue, driving future growth initiatives
  • Strengthen brand awareness and be recognized for innovation
  • Position the company as a trailblazer in an emerging category that is bold and visionary, opening new doors to future partnerships and growth opportunities

KEY DELIVERABLES

  • Brand platform
  • New visual and verbal identity, including a new logo
  • New style guide and core brand asset artwork
  • UI/UX, copy, design, templates for website revamp/redesign
  • Core UI asset toolkit

What amount of money we are talking about?

To put UC$200.000 a bit more into perspective, it might make sense to check what amount of the community pool we are talking about. From the last Monthly Report we can see that the community pool is currently consisting of 769.788 AVA. With a current price of $1,35 per AVA this amounts to US$1.039.214. As you might know, the community pool is growing with 3% of revenues and 50% of secondary sale royalties per month. In the last month alone 146.978 AVA or UC$198.420 have been added from this source. In summary, the proposal is asking for 19% of the current pool size and for an amount that is regularly added per month to the pool.

Do we need a rebranding and is it worth $200K

It is certainly true that rebranding comes with opportunities and benefits to Travala.com.

The brand refresh will allow Travala.com to highlight its unique position in the market, bring fresh recognition to our well-established brand, and help reinforce the company's vision, mission, and values in this rapidly changing landscape. Making the brand more unique, differentiating it from booking.com or expedia.com and the likes, and pulling the unique selling points clearer in front of the eyes of more customers will help it to grow. Given the size and the growth of the community pool, 200K is looking quite affordable. However, is a marketing initiative like this really something that needs to be paid from this pool, or is it belonging to the core business - and should be paid from the operating costs instead? The concept of the community pool is quite new, and it is not yet decided how exactly this money is going to be used. Of course, it should fund projects that add value to Travala and therefore to its stakeholders. But how exactly could that be differentiated from the day-to-day operations that are required to run a company as well as hold it fit for the future? Maybe this is a philosophic question, as well as one that will be decided in the process.
Everybody who has a SMART-member status can cast the vote on whether this proposal should be funded or not. Marketing is essential for success and therefore, my vote will go to YES. How will you vote? Tell me in the comment section.

This is @no-advice for @spinvest-leo

Image by @mariosfame

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