Web3 marketing moves fast—and without the right analytics, it’s hard to know which campaigns are truly working. UTM Analytics gives Web3 teams a precise way to track, measure, and optimize campaign performance across offchain and onchain channels.

With UTM tracking, you can analyze traffic sources, measure ROI, and attribute results from ads, influencers, or community campaigns all the way to real wallet-based conversions. This helps you maximize engagement, conversions, and long-term growth.

What is UTM?

UTM (Urchin Tracking Module) parameters are short tags added to the end of a URL. Analytics platforms like Formo Analytics use them to show you where website traffic comes from, which campaigns work best, and how users interact with your content.

Example:

https://yourdapp.com/?utm_source=twitter&utm_medium=social&utm_campaign=nftdrop

Here, the UTM tags reveal that the traffic came from Twitter (source), via social media (medium), as part of the nftdrop campaign.

List of UTM Parameters

• utm_source helps identify where your traffic is coming from. This could be platforms such as Google, Twitter, Facebook, or a specific newsletter. You use this tag to track which sources drive the most visitors to your website.

• utm_medium defines the marketing channel through which users reach your content. Examples include social media, email, CPC (cost-per-click ads), or referrals. This helps you understand the effectiveness of different mediums in your marketing strategy.

• utm_campaign is used to track specific marketing campaigns. Whether you're running a promotion, a product launch, or a seasonal sale, this tag allows you to measure the performance of individual campaigns.

• utm_term is mainly used for tracking keywords in paid search ads. It helps marketers analyze which keywords drive the most traffic and conversions. While not always necessary, this tag is valuable for PPC campaigns.

• utm_content differentiates multiple links within the same campaign. For example, if you have two call-to-action buttons on the same page or different versions of an ad, this tag can help you determine which variation performs better.

Why UTM Analytics Matters in Web3

Unlike traditional web analytics, Web3 teams need attribution that spans offchain marketing efforts and onchain user actions. UTM analytics bridges this gap.

With Formo, you can:

• Attribute wallet connections, swaps, or mints back to specific campaigns.

• Measure ROI across channels like Twitter, Discord, Telegram, and influencer partnerships.

• Identify the highest-converting traffic sources and reallocate budget for maximum impact.

This gives you a full-funnel view of the user journey—from ad click to wallet interaction—something standard analytics tools can’t provide.

What Can You Do with Web3 UTM Analytics?

Track referral traffic and pinpoint top-performing sources.

• Measure campaign performance across Twitter, Discord, Telegram, and influencer activations.

• Optimize ad spend with precise attribution.

• Maximize ROI by focusing on channels that drive the most engaged wallets.

• Improve conversion funnels by linking offchain actions with onchain outcomes.

How It Works:

1. Generate UTM links for your marketing campaigns

2. Share these links on Twitter, Discord, Telegram, and newsletters.

3. Track and analyze traffic sources on the “Overview” page on Formo Analytics.

Get Started with Formo

Supercharge your Web3 marketing with data-driven marketing attribution — optimize spending, identify high-performing campaigns, and drive sustainable growth. Get started with Formo and track your web3 marketing campaigns with UTM Analytics.

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FAQs

1. How does UTM analytics support attribution in Web3?
In Web2, attribution often stops at clicks, signups, or purchases on a website. In Web3, however, the real value happens onchain—when a wallet connects, a swap is made, or an NFT is minted. UTM analytics provides the missing link between offchain marketing campaigns and onchain outcomes. By tagging links in ads, tweets, or community posts, you can see not only which traffic source drove a visitor but also whether that same visitor connected a wallet or performed a meaningful action onchain. This creates end-to-end attribution that helps marketers double down on the strategies delivering the most real value.

2. Can I use UTM tracking across community-driven channels like Discord or Telegram?
Absolutely. Unlike traditional ad platforms, Web3 growth relies heavily on grassroots channels such as Discord servers, Telegram groups, and influencer shoutouts. By attaching UTM parameters to links shared in these communities, you can identify which groups or influencers drive the most engaged traffic. For example, if a Telegram group sends high click volume but no wallet connections, you may need to refine messaging. On the other hand, a smaller Discord community that consistently converts into active wallets might deserve more investment. UTM tracking lets you measure what was previously guesswork in community-led growth.

3. How does UTM analytics help optimize ad spend in Web3?
Web3 campaigns often run across fragmented channels—Twitter ads, influencer promotions, newsletters, and even onchain incentive programs. Without UTM analytics, budget allocation is a blind guess. With UTM parameters in place, marketers can see which channels generate not just clicks but real onchain conversions. This allows them to cut wasted spend on underperforming sources and reinvest in high-ROI campaigns. Over time, UTM analytics also helps teams experiment: e.g., test two ad creatives with utm_content and quickly identify which variation drives more wallet signups or swaps. The result is smarter, data-backed growth rather than “spray and pray” marketing.

4. What’s the difference between Web2 and Web3 UTM analytics?

• Web2 UTM Analytics: Ends at offchain actions like page views, signups, or purchases in fiat. Attribution relies on centralized tools (Google Analytics, Mixpanel).

• Web3 UTM Analytics: Extends attribution into the onchain world. It connects an offchain click to a wallet-based action such as minting an NFT, staking tokens, or making a swap. This requires bridging data across different layers: the website, the blockchain, and sometimes the wallet provider.

In short, Web2 tells you who clicked; Web3 tells you who clicked and became an active wallet participant—a much stronger growth signal.

5. Do I need a Web3-native tool like Formo for UTM analytics?
Yes. While any analytics tool can read UTM parameters on a URL, only a Web3-native analytics platform can connect that information to onchain activity. Traditional Web2 tools won’t show you if the user who clicked your ad went on to connect a wallet, mint an NFT, or trade tokens. A tool like Formo bridges this gap by capturing both the offchain event (ad click, signup, referral) and the onchain event (transaction, wallet engagement), unifying them in a single dashboard. Without this integration, you’ll only see half the picture, and marketing decisions risk being based on incomplete data.