Since the blockchain's inception, we saw hundreds of entrepreneurs coming ahead to build the decentralised economy. There are various aspects that we need to look into before going into the depths of the technology. The startups are focusing on creating a community for their brand which can help them achieve their goal. But there are certain metrics that these web3 startups forget to track, and often end up struggling to get the desired results. If you are building a web3 startup, you must be aware of these metrics selected by a professional Web3 Digital Solution Provider. Let's read. 

What are the Metrics Web3 Startups are Tracking?

The early-age startups are focused to spread awareness of their brand and products. On the contrary, their second goal is to increase retention through various marketing attempts and generate leads. But generating leads in such a competitive market is not easy. Various brands are continuously working in the Web3 industry for more than a decade or so building products and creating communities for their life-long existence. 

When you are in the stage of introducing your brand to the web3 audience, it is crucial that you need an expert to assist you with all the modern-day marketing strategies and metrics which can improve your tactics and reach the goal faster. If you are not aware of the marketing strategies that you can follow, you need to read through our previous blog "What Marketing Tactics Should Early-Stage Web3 Startups Use?" If you are not aware of how to implement these strategies, you can connect with the web3 digital solution provider to assist with all your marketing needs. 

Let's read the marketing tracking that early-age web3 startups should focus on. These trackings might be different depending on the business or the industry you choose. It is always advised to do your research before you step up to practice. 

Traffic Source

Keeping track of the traffic source can help you increase radar awareness. Tracking each and every source will help you create various personas depending on various aspects, including demographic, earnings, gender, age, interests, and much more. Traffic sources are not easy to track, as you need various GTM, UTM, and Facebook marketing tracking programs to help improve the data. 

It is usually advised to take help of the professionals, such as web3 digital solution providers to assist you with improved tracking of the user and getting their data. 

Database of the Community Audience

It is a well-known truth that Web3 is all about networking. To establish your brand and create a well-known reputation, you need to attract the audience to be part of your community. To do so, there are various strategies you can apply as suggested in our previous blog. To increase the count in your community group, you can play with both organic and paid strategies to achieve your goal. Paid marketing tracking always results in the short-term acquisition of the audience. Thereby, your larger part of the marketing must focus on getting the audience through organic means. 

Cost of Acquired Customer (CAC)

The CAC is the metric that many startups use to calculate average spending per user retention. Let's illustrate it with an example. If a web3 startup connects with an influencer and pays $5000 and based on the estimations the brand receives 1000 more users, then the per-user cost equals $5. It is to note here that every business has different standards for measuring CAC, and the final cost may vary business-to-business. The web3 digital solution provider suggests every startup calculate their CAC to set the limits of their marketing budgets. 

Conclusion

If you are a new web3 startup and looking for an extra hand to assist you with all the marketing tactics and keep track of all the achievements and drawbacks you have, you need to connect with the web3 digital solution provider such as Zelta Tech for the upper hand. These metrics track needs experts to collect the data and bring out meaningful information that can sound profitable to your business.

FAQ

1. What are the paid marketing strategies in web3?

Paid marketing strategies in the Web3 industry are the money spent to achieve the desired goal. These goals can be specific to a product or to spread awareness. 

1. Is it necessary to keep track of the strategies?

Yes. It is. Keeping track of the strategies helps ensure that you are performing the right strategies leading to an increase in the number of audience or leads. 

1. Why networking is important in the Web3 Industry?

The industry is newly introduced to many of us globally. To bring your startup into revenue mode, you need to build a strategic connection with the popular face in the industry.