The Web3 Marketing Firm Addressable has launched the cost of each purse (CPW), a new scale aimed at improving user acquisition monitoring for decentralized applications (DAPPS) and Blockchain businesses.
The company claims that the CPW provides a more accurate measure of user interaction compared to traditional web2 marketing, where metrics such as Customer Acquisition Cost (CAC) and Cost Per Click (CPC) are commonly used, by monitoring Wallet Wallet activity rather than clicking ads or website logins.
A lower CPA means customer acquisition is better, while a lower CPC indicates that businesses implement more ad-effective ad campaigns.
Received claims that CPW will allow businesses to determine which users “high value” and more likely to convert to their marketing funnels, helping them optimize their marketing efforts and avoid “bots.”
Users with wallets are more likely to convert to crypto products
Addressable Chief Operating Officer and co-founder Asaf Nadler told Cointelegraph that their review data showed that users with a purse were more likely to convert to crypto products:
“Our review shows a remarkable view: 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 argues that the CPW makes the CPW a scale of the traditional metric. The Executive said metrics such as the CPC or Cost Per Impression (CPM) often failed to determine who users with high intentions and which ones are simple “low quality traffic,” users who may not be interested in their products.
“For the first time, crypto companies can accurately measure which campaigns are driving, high-value users, rather than wasting resources on bots or ‘normies’ that are not likely to convert,” Nadler told Cointelegraph.
In a press release, the addressable said the new web3-native acquisition metric could help crypto projects monitor how many users became active participants in the decentralized financial protocol (DEFI), purses or exchanges.
Impact of Purpose of Pallet in Communication, Logins and Conversion Source: Addressable
Related: UAE saw 41% increase in Crypto app downloads in 2024 – Appsflyer
Marketing for institutional adoption
While the CPW is the main target of obtaining the user’s retail, the broader crypto industry also changes the focus towards the institutional adoption.
On January 22, Etherealize, a marketing firm supported by the Ethereum Foundation, was launched at Educate blockchain and ether institutions (Eth).
Etherealize co-founder Grant Hummer said the company wanted to bring “all Wall Street to the Ethereum rails.”
Ezra reguerra’s additional report.
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