At Cookie3 we strongly believe in transparency. That’s why we want to sum up September in terms of product development and reveal what is coming up in October.\nLet’s dive into Monthly Product Update below👇\n\nWhat did we deliver in September?\nNew integrations: boost marketing campaigns with on-chain goals from Linea, Optimism and Base.\nStrategic Collaboration: Kyber Network will help shaping Cookie3 (details in the comment).\nCookie3 Plugin: Track website events for granular analytics.\nWhat's coming in October?\n1. 🚀 Advanced on-chain goals\nNow, you can track the COUNT of on-chain transactions like number of token buys completed. But we noticed that some campaigns generate transactions less than $10, while others exceed $1000.\nThat's why advanced on-chain goals introduce the VOLUME.\nExample?👇\nImagine you're a marketer at Uniswap and your task is to attract new users to provide liquidity for the UNI/ETH pair. You decided to use an ad protocol and a quest platform. In Cookie3 you set up a goal for LP >$100.\nResults?\nAd protocol: 100 buys, 5 of them >$100\nQuest platform: 50 buys, 25 of them >$100\nAdvanced on-chain goals bring more valuable insights into your Web3 campaigns.\n2. ⛓️ New chains in town: Polygon, Mantle, Avax and Base.\nCookie3 users now get exclusive wallet insights across 5 EVM chains. This way Cookie3 will become the most comprehensive Web3 user analytics tool on the market.\n3. 📲 dApps Integrated\nDiscover which dApps your users interacted with in the past or might be engaging with in the future, including big names like \nUniswap Labs\n or \nOpenSea\n. This gives deeper insights into your community and competition research opportunities.\nP.S. As a startup, we highly value your feedback, as it is crucial to our growth. Special thanks to \nKyber Network\n, \nFlooz xyz\n and Notum 🙏

Cookie3 Monthly Product Update for October

\nEffective marketing in Web3 is a sea full of challenges: tracking metrics, optimizing campaigns, finding the most effective channels, and filtering out the irrelevant ones. \nToday, we’d like to share an inspiring story with you about the journey of Max Smekalov, the Marketing Manager at Notum. He faced numerous challenges as a Web3 Marketer but due to skills and tools he made it. \nHe reduced costs of wallet connections by 64% and saved over 30 hours of manual work.\nHowever, before we dive into Max's story, let's set the stage at Notum. They've developed a remarkable DeFi product, simplifying cryptocurrency investments to the level of a simple swap. Armed with this impressive product, Notum was ready to launch Go-To-Market campaigns on a significant scale. Influencers, quests, ad protocols, social media - you name it.\nBut before investing thousands of dollars, Max had some critical questions:\nHow do we calculate essential KPIs like ROI and CAC?\nWhich channels will yield the best results?\nWho is our product attracting?\nMax's first choice was clear: \n"Let's go with Google Analytics and Amplitude – the go-to tools in Web2."\n \nBut…\nWeb2 tools fall short in the Web3 landscape.\nIn the early days, Notum heavily relied on Amplitude and Google Analytics for their analytics needs. These tools did offer insights into channel-generated traffic and helped construct a comprehensive user traffic funnel. However, a crucial piece of the puzzle was missing – a deep understanding of the fundamental Web3 element: blockchain.\nGoogle Analytics and Amplitude, unfortunately, couldn't peer beyond user cookies. They provided valuable information like demographics, attribution channels, bounce rates, and more.\nBut what about on-chain holdings, portfolio or activity? \nHow much are users transacting from specific channels?\nWhat is their favorite wallet?\nWell, Web2 tools don't know about it. And Max couldn’t too. Until he stumbled upon a Cookie3 post on Twitter (sorry, X) about recruiting beta users. \nGetting Started with Cookie3\nAs summer arrived, Max kicked off a beta test for the Notum platform. Access was granted to users who shared their wallet addresses via the Discord bot. This strategic move brought in over 1,500 wallets, but Max faced a daunting challenge: he had little insight into these wallets. Manually inputting each one into a portfolio tracker for analysis seemed like a time-consuming nightmare.\nEnter Cookie3, with its game-changing feature: the ability to upload a CSV file containing wallet addresses and receive organized insights in a flash. What did this include?\nWallet balances\nTransaction counts\nHoldings of specific tokens and NFTs\nPortfolio size\nTimestamps of the first and most recent activities\n\n\nBy using this feature Max saved 34 hours of manual work. Without Cookie3 he’d need to type in the wallet addresses one by one in etherscan and develop complex dashboards on his own. \nImpressive, isn't it?\nMax goes a step further and checks the effectiveness of quests\nIn his pursuit of building an initial user base, Max delved into popular quest platforms. These campaigns achieved a remarkable feat, channeling over 4500 participants into the Notum Discord server, all at an impressively low cost of acquisition (CPA).\nHowever, upon uploading the wallet data, Max uncovered a sobering fact in Cookie3 dashboards: \nthe average user's balance was less than $100.\n It became clear that very few of these participants were suitable for beta testing, which was the primary objective.\nWith this insight, Max made a critical decision. He determined that quests were not attracting potential testers and chose to halt these campaigns saving thousands of dollars.\nWhich acquisition channel is the most effective? \nNotum’s public launch was covered by many sources at the same time, so Max needed to get results for each channel separately. This is where Cookie3’s Campaign Manager came into play. It allowed him to create separate campaigns within which he could generate UTM links for tracking sub-campaigns. \nFor the visual audience - check out one minute video explainer of Campaign manager below:\n\nMax decided to use 3 different methods to acquire relevant audience to Notum:
1. Influencers\n2. Ad protocols\n3. DeBank broadcasting\nLet’s see how Max puts all three to the test.\n1. Influencers - who is most effective?\nMax collaborated with 4 influencers on X to promote Notum product launch.\nAs per Cookie3's data, Max achieved an outstanding 20-25% conversion rate for wallet connections, with 10% of these users making actual investments.\nMax took it up a notch by setting specific goals within each campaign with on-chain tracking. This means Max could gauge KPIs in the context of costs. The average CPC stood at a reasonable $7, with a $40 cost per wallet connection.\n\n\nBut that’s not all. Thanks to Cookie3's Campaign Manager, Max gained valuable insights into the financial capacity of each influencer's audience. \nTwo influencers had a median user balance under $50, while the other two boasted balances exceeding $350.\n Max decided to concentrate his marketing efforts on the latter, more affluent audience for upcoming announcements.\nIt’s also important to note that influencer marketing consumed one-third of Notum’s marketing budget. This highlights the importance of comprehending what you're investing in and the user base it brings.\n2. Ad protocols - are they all effective?\nMax partnered with the two top Web3 ad protocols. These platforms had similar functionality but different publisher networks. Initially, the cost per connected wallet was a steep $150.\nTo address this, Max optimized creatives and revamped the user journey post-click. With Cookie3's continuous monitoring, Max could track user acquisition, completed goals, and assess the relevance of wallet balances. Eventually, \nhe managed to reduce the cost to $50-60 per connected wallet.\nWhat's noteworthy?\nMax observed a significant disparity in user profiles between the two platforms. In one of them, the median user balance was below $100, while in the other one, it exceeded $500. This highlighted the pivotal role of publisher quality and relevance in campaign success.\nReturning to the topic of Web2 tools, Max realized that relying solely on Google Analytics for insights would have left him blind to a critical aspect: \nthe financial capacity of Notum users. This oversight could have directed traffic toward an irrelevant audience.\nThanks to Cookie3, Max made a strategic shift. He decided against investing solely in acquiring impressions through performance marketing and instead reallocated 15% of the marketing budget to other channels.\n3. DeBank Broadcasting - how Max saved 50% of the budget.\nDuring the initial tests, Max explored \nDeBank Broadcasting\n's capability to convey the launch message to a specific target audience. However, as per Cookie3's data analysis, this channel delivered disappointing results with a mere 10% conversion rate for wallet connections and a \nsteep CPM of $1000\n. Moreover, individuals on the target list had a median user balance of less than $50.\nRecognizing diminishing returns midway through the campaign, Max made a decisive move to minimize losses. He redirected the budget to DeBank's social media segment. By strategically publishing posts within the feed and introducing a rewards system, Max not only expanded Notum's reach organically but also achieved investment goals more effectively.\nThanks to Cookie3's insights, \nMax managed to save a remarkable 50% of the initially allocated budget for DeBank broadcasting.\nWhat are the final results?\nWell, numbers speak for themselves:\n\nHowever, it’s also important to take a closer look at the marketing workflow Max was able to optimize using Cookie3:\nMax was able to leverage data-driven insights almost immediately. He watched how the KPIs evolved over time to move the budget to the most efficient channels. \nReporting to the team was streamlined and structurized. Explaining your work using KPIs rather than observations makes you better understood.\nFor a Marketer, CEO, Product Manager or even Designer getting to know the users is fundamental. Max made it easier.\nReady to become a data-driven Web3 marketer? Fill in the typeform below:\n\nhttps://form.typeform.com/to/h7eH2kWN\n

How did Notum reduce marketing costs by 64% using Cookie3?

\n\nCookie3 has recently partnered with the \nLoyalty+\n initiative to offer attribution and user analytics data to customers committed to investing in loyalty programs and leveraging Web3 solutions.\n
To mark the launch of Loyalty+, Cookie3 hosted a webinar featuring industry experts, including:\nJack Cameron, Co-Founder of Insomnia Labs, \nJC Oliver, Head of Strategy & Innovation at Co:Create, \nAntoni Boruszak, Customer Success Manager at Cookie3.\nLet us share 3 best highlights of the webinar:\n1. Data-driven Web3 marketing funnel\n\n2. How Coca-Cola creates an intimate relationship with the customers using “physical NFTs”\n\n3. How crossbrand collaboration based on tokens will improve loyalty programmes experience\n\nDo you want to watch the whole webinar?\n\n

How to improve customer loyalty with Web3 solutions?

\n\nWhat challenges did Flooz face?\nUnderstanding how particular channels and further, specific marketing campaigns, performed. \nAssessing quality of the traffic on both top and bottom of the marketing funnel.\nHow did Flooz address the challenges?\nFirst step: Analyze marketing campaign to optimize CAC\nFlooz utilizes numerous user acquisition channels, including Twitter, quests, PPC campaigns, and more. Thanks to Cookie3 Campaign Manager, they were able to meticulously track each campaign, monitoring user engagement from the first click through to the final on-chain transaction.\nFlooz effectively compared Customer Acquisition Costs (CAC) across various channels and focused their efforts on the most efficient campaigns.\nThis simple yet highly effective strategy significantly reduced the average CAC from $2.00 per user to an impressive $0.30, resulting in an 85% budget reduction!\nSecond step: Understand on-chain user behavior\nAfter determining the most effective acquisition channels, Flooz marketing team asked themselves a question: who are we actually acquiring?\nUsing Cookie3 Analytics Dashboards, Flooz was able to categorize on-chain statistics by specific campaigns and extract valuable user data brought to the platform by these campaigns, such as:\nPreferred wallet\nPortfolio balance\nToken and NFT holdings\n\n\nFurthermore, they could narrow this down to demographics and relevant on-chain holdings based on the user's country!\nThird step: Strategize the entire marketing funnel\nTraditional marketing funnels in tools like Google Analytics fall short for Web3 marketers as they lack connectivity to wallets and blockchain data.
\nTo bridge this gap, Flooz adopted Cookie3 Website Visit Funnels, which allowed their team to map out the user journey in a full picture (dummy data):\n\n\nThis approach enabled Flooz to optimize specific parts of the funnel. \nMoreover, by incorporating the Web3 aspect, Flooz, a multichain dApp, discovered that Ethereum remained the dominant chain for bottom-line conversions, while BNB lost momentum, and Polygon became the preferred choice for NFTs rather than DeFi.\nFlooz:\n\nWebsite\n\n\nTwitter account\n\n\nDiscord server\n\n

How Flooz reduced CAC by 85%?

\n\nApraemio stands out as a digital asset that not only preserves but enhances its value through an ever-expanding gold backing system.\n\nThe focal point of their website revolves around promoting their token - $APRA.\nThis emphasizes the importance of website analytics in identifying the most effective traffic sources, enabling the generation of more volume with the same resources.\nApraemio faced 3 daunting questions:\nWhat is the relevant KPI in Web3 performance marketing?\nWhat are our community demographics and their token holdings?\nWas the quest campaign genuinely successful?\nWhat is the relevant KPI in Web3 performance marketing?\nWeb3 marketing teams should adapt the KPIs that they track on a regular basis. Tracking website visits or social media impressions is simply not enough.\nThe wallet conversion rate turned out to be the ideal KPI, allowing Apraemio's marketing team to compare campaign performances effectively.\n\nWith Cookie3 automating this calculation\n, Apraemio's marketing team efficiently reallocated budgets from campaigns generating irrelevant traffic, \nresulting in substantial cost savings.\nWhat is our community demographics and token holdings?\nApraemio sought insights into demographics and token holdings, realizing that Google Analytics provided information on user origins but lacked on-chain details.\n\nWith Cookie3, Apraemio discovered that their community is truly global. Surprisingly, token holdings across continents were remarkably similar, dominated by stablecoins and ether.\nConclusion?\n Apraemio doesn't need to localize marketing efforts yet, as on-chain preferences are consistent across different countries.\nWas the quest campaign actually successful?\nIn October 2023, Apraemio launched a quest campaign with the sole objective of acquiring as many active users as possible.\nWhat was the outcome?\nAccording to Cookie3, over 5,000 new users held $APRA token. \nHowever, further investigation revealed that the average wallet net worth was below $100, which is too low from the target persona profile.\nThis insight emphasizes \nthe need to adjust future quests, ensuring they appeal to users with a higher balance.\nApraemio:\n\nWebsite\n\n\nTwitter\n\n

Blog

Latest updates from the Cookie3 team

Cookie3 Monthly Product Update for October

How did Notum reduce marketing costs by 64% using Cookie3?

How to improve customer loyalty with Web3 solutions?

How Flooz reduced CAC by 85%?

Website Analytics in Web3: Apraemio Case Study