A new marketing metric for crypto has been launched by the Web3 firm Addressable. This marketing metric is called cost per wallet(CPW). It was recently launched and is geared towards upgrading user acquisition tracking for decentralized applications (DApps) and blockchain businesses.
This was disclosed on March 13; currently CPW is designed to provide more precise insights for Web3 marketers. By tracking on-chain wallet activities instead of traditional Web2 advertising metrics like cost per acquisition and cost per click. Additionally, a lower CPA signifies that a customer’s acquisition is more efficient, while a lower CPC indicates that customer businesses are implementing more cost-effective ad campaigns.
Web3 firm’s Addressable claims that the new marketing metric CPW, would allow businesses to calculate which users are “high-value” and are more likely to get converted into their marketing funnels, assisting them amplifying their marketing efforts and preventing “bots.”
Web3 Users with wallets are presumably to convert to crypto products.
Asaf Nadler the addressable chief operating officer and co-founder of Web3 Asaf Nadler made the statement to Cointelegraph.
“Our analysis reveals a striking insight: users with a crypto wallet installed are 18 times more likely to sign up and seven times more likely to convert to crypto products.” (this was his statement)
Furthermore, Nadler debated that this fact proves CPW to be a “more effective” metric than traditional metrics. The executive in addition said metrics like CPC or cost per impression (CPM) have so many times failed to determine who are high-intent users and which ones are simply “low-quality traffic,” users who are probably not interested in their products.
“For the first time ever, cryptocurrency companies are able to accurately measure some important details. These details mainly include, campaigns drive engagement, high-value users, rather than wasting resources on bots or ‘normies.’” This is because these bots and ‘normies’ are unlikely to convert, Nadler told Cointelegraph.
Lastly, In a press release, Asaf Nadler said the new Web3-native acquisition metric could help crypto projects. Projects like tracking the number of active participants in decentralized finance (DeFi) protocols, wallets, or exchanges.
Effect of wallet ownership on engagement, logins, and conversions.
