Data related to blockchain projects is often too fragmented to be used effectively by marketing teams.
To put it another way, information is stored across various platforms, databases, and applications, which makes integrating Web2 and Web3 data challenging. For example, Web2 data is typically stored in centralized databases, while Web3 data is stored on decentralized ledgers. To combine them, you must convert the data into a uniform format and connect the storage locations. Additionally, the incompatibility between EVM and non-EVM blockchains adds an entirely new layer of complexity.
It’s no surprise that Web3 projects struggle to understand their users, leading to a sky-high rate of failure.
This is where Footprint comes in. As a leading provider of on-chain data solutions, Footprint offers a comprehensive data linking solution that seamlessly connects Web2 and Web3 data. By providing project teams with a unified view of their data, Footprint helps them analyze, interpret, and act upon it more effectively, unlocking the full potential of product and marketing growth.
By leveraging data from both Web2 and Web3, project teams can fully maximize their marketing growth.
Here are 3 use cases for Web3 data-driven marketing analytics.
Analyze the complete funnel of the user journey. Then, identify key conversion and loss points and optimize the product accordingly. By examining the user journey, you can determine where users are dropping off and adjust the product to reduce loss. For example, if only 10 out of 1000 website visitors connect their wallets, you can determine that connect wallets is a key loss point and add more user-friendly guidance or prominent wallet connect buttons to the website.
A user funnel across web2 and web3
Combining off-chain tags with on-chain data can allow for deep analysis of user groups and their sources. For instance, you can separate user channels into categories such as search, marketing campaigns, community and social media by tracking where users are coming from. The conversion rate and quality of users from different channels can then be compared, which is critical for measuring ROI and channel effectiveness.
Users by channel over times
Combining social media data with web3 data can help project parties associate Discord or Twitter users with their web3 addresses using social graphs. Footprint analyzed data from hundreds of millions of wallets and matched tens of thousands of wallet addresses with Twitter accounts, enabling more efficient marketing strategies. We can imagine if you know the active accounts of CryptoPunks holders on twitter, isn’t there something you can try to do? By focusing marketing efforts on specific customers, we can avoid shouting to the world.
If you need help with your dashboards, defining your user source, connecting your off-chain activities with on-chain transactions, or simply want to talk about best practices in Web3 marketing, click here to connect with our team at Footprint.