Web3 marketing firm Addressable has launched cost per wallet (CPW), a new metric aimed at improving user acquisition tracking for decentralized applications (DApps) and blockchain businesses.
Announced on March 13, CPW is designed to provide more precise insights for Web3 marketers by tracking onchain wallet activity rather than traditional Web2 advertising metrics like cost per acquisition (CPA) and cost per click (CPC).
A lower CPA means customer acquisition is more efficient, while a lower CPC indicates that businesses are implementing more cost-effective ad campaigns.
Addressable claims that CPW would allow businesses to determine which users are “high-value” and are more likely to get converted into their marketing funnels, helping them optimize their marketing efforts and avoid “bots.”
Users with wallets more likely to convert to crypto products
Addressable chief operating officer and co-founder Asaf Nadler told Cointelegraph that their analysis data showed that users with a wallet are more likely to convert to crypto products:
“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.”
Nadler argued this makes CPW a “more effective” metric than traditional metrics. The executive said metrics like CPC or cost per impression (CPM) often fail to determine who are high-intent users and which ones are simply “low-quality traffic,” users who may not be interested in their products.
“For the first time, crypto companies can accurately measure which campaigns drive engaged, high-value users, rather than wasting resources on bots or ‘normies’ who are unlikely to convert,” Nadler told Cointelegraph.
In a press release, Addressable said the new Web3-native acquisition metric could help crypto projects track how many users become active participants in decentralized finance (DeFi) protocols, wallets or exchanges.
Effect of wallet ownership on engagement, logins and conversions Source: Addressable
Related: UAE saw 41% increase in crypto app downloads in 2024 — AppsFlyer
Marketing for institutional adoption
While CPW primarily targets retail user acquisition, the broader crypto industry is also shifting focus toward institutional adoption.
On Jan. 22, Etherealize, a marketing firm backed by the Ethereum Foundation, launched to educate institutions on blockchain and Ether (ETH).
Etherealize co-founder Grant Hummer said the company wants to bring “all of Wall Street onto Ethereum rails.”
Additional reporting by Ezra Reguerra.
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