Web3 marketing analytics is emerging as a must-have for growth teams in Web3. As more products shift toward onchain infrastructure and apps, understanding how users interact across wallets, dApps, and protocols is critical for performance marketing, retention strategies, and community building.
Traditional marketing analytics focuses on tracking user activity across websites, apps, and channels by utilizing cookies and device IDs. Web3 introduces a new composable data paradigm, introducing onchain activity, decentralized apps, NFTs, and Web3 games. So, how exactly does Web3 marketing analytics differ from traditional analytics? Let’s dive in.
In this guide, we’ll cover:
What is Web3 marketing analytics?
What are the different types of Web3 marketing data?
Why is Web3 marketing analytics important?
Web3 marketing analytics use cases
The most important Web3 marketing metrics
The best marketing analytics tools in 2025
Web3 marketing analytics capture, analyze, and unify data to help you acquire and convert high-value users.
What Is Marketing Analytics?
Marketing analytics is the process of tracking and analyzing data from marketing efforts, often to reach a quantitative goal. Insights gleaned from marketing analytics can enable organizations to improve their customer experiences, increase the return on investment (ROI) of marketing efforts, and craft future marketing strategies.
According to a report conducted by PwC, highly data-driven companies are three times more likely than their less data-driven counterparts to see significant improvements in decision-making. Whether you work with marketers or are one yourself, it’s important to be familiar with the basics of marketing analytics and how it can inform your organization's decisions.
What Is Web3 Marketing Analytics?
Web3 marketing analytics is the process of collecting, analyzing, and acting on web3 user data. Unlike Web2 analytics, which focuses on emails, cookies, and IP addresses, Web3 analytics revolves around wallet addresses, smart contract interactions, token holdings, and onchain behavior.
Instead of relying solely on traditional third-party platforms like Google Analytics or Meta Ads Manager, Web3 marketing analysts leverage a mix of onchain and offchain data to understand the entire user journey. This includes tracking wallet activity such as mints, staking, and swaps on one or more apps, in addition to offchain signals such as social media engagement and user demographics.
Web3 analytics helps marketing and growth teams identify their most valuable users, measure true engagement and conversion, and ultimately build more personalized and efficient marketing funnels based on decentralized identity and behavior.
How Is Web3 Marketing Analytics Different from Traditional Marketing Analytics?
The core difference comes down to what’s being measured.
Traditional Analytics | Web3 Analytics | |
Data Source | Cookies, sessions, clickstream | Cookies, sessions, clickstream, Onchain data, smart contracts, wallet activity |
User Identity | Email, device ID, and account logins | Anonymous ID, Wallet addresses |
Behavior Signals | Page views, bounce rate, conversions | Page views, bounce rate, onchain conversions and transactions, revenue, retention |
Transparency | Opaque (controlled by centralized platforms) | Transparent and verifiable (stored on blockchain) |
Data Ownership | Centralized (Google, Meta, etc.) | Decentralized and composable (owned by users and open to all) |
Key differences:
Web2: Tracks clicks, sessions, and conversions through third-party tools.
Web3: Tracks the full user journey from offchain to onchain. Analyzes wallet activity, transactions, NFT mints, and token holdings, and links them to web2 data.
Traditional marketing tools help you understand who clicked and why in Web2. Web3 tools goes further to show you who transacted, what tokens they hold, and how they engage onchain—giving deeper context into web3 user intent and value. Web3 analytics also lets you connect social behavior with onchain outcomes, enabling more precise targeting, deeper engagement insights, and better campaign onchain attribution.
3 Types of Web3 Marketing Data
Web3 marketing data can be grouped into three main types: onchain data, offchain data, and cross-chain/cross-platform data.
Onchain Data
Onchain data includes all publicly available information recorded on blockchain networks:
Wallet addresses
Token transfers and balances (ERC-20, ERC-721, etc.)
Smart contract interactions (staking, swapping, minting)
NFT purchases and ownership history
This data provides direct insight into what a wallet has done, what assets it holds, and how active it is on specific protocols or chains.
Offchain Data
Offchain data is generated outside of the blockchain and is typically collected via marketing tools or form submissions:
Website traffic sources (UTMs, referrals)
Click-through rates and bounce rates
Email engagement (opens, clicks)
Social media actions (likes, comments, shares)
Form responses and survey data
Offchain data provides important context around user acquisition, campaign engagement, and top-of-funnel interest.
Crosschain and Cross-Platform Data
Advanced web3 marketing analytics unify both onchain and offchain data across multiple chains and platforms to provide a unified view of the user journey. This includes:
Web2-to-Web3 conversion tracking
Wallet activity across multiple chains (Ethereum, Polygon, Solana, etc.)
Behavior mapping across Discord, Twitter, Farcaster, and your dApp or protocol
Why Is Web3 Marketing Analytics Important?
Traditional marketing analytics tools are not designed for blockchain environments. They rely heavily on cookies, email addresses, and databases that don't apply to blockchain systems. Here are key reasons why Web3 analytics is critical:
Web3 user profiles I Formo’s Web3 Analytics
Understanding Web3 User Behavior
With wallets serving as the primary identity in Web3, analytics tools must provide insights at the wallet. This enables marketers to identify:
Who their most valuable users (wallets) are
How wallets interact with specific campaigns or product features
What types of wallets are converting, churning, or returning
Measuring Onchain Outcomes
Web3 marketing analytics helps marketers move beyond vanity metrics (clicks, likes) and focus on real outcomes such as:
Did the user mint the NFT?
Did they swap tokens or stake?
Are they still holding your token 30 days later?
Optimizing Spend and Strategy
By mapping Web2 activities (like Twitter ads or Discord announcements) to onchain outcomes with UTM tracking, teams can:
Attribute success to the right channels
Reduce acquisition costs
Create higher ROI campaigns based on verified wallet actions
Enhancing Personalization and Retention
Web3 Marketers can use wallet behavior to create more personalized experiences and retention flows. For example:
Send custom emails to wallets that minted but didn’t stake
Trigger rewards for DAO voters
Offer airdrops to loyal token holders
The Most Important Web3 Marketing Metrics
Objective | Web2 KPI | Web3 KPI |
Awareness | Impressions, reach | New wallet impressions (via UTM-tagged landing pages) |
Acquisition | Click-through rate, form fills | Wallets connected, new wallets interacting with your dApp or mint |
Activation | Sign-ups, trial starts | First onchain transaction (mint, swap, stake) |
Engagement | Time on site, social comments | Repeat onchain actions, DAO votes, NFT trades |
Retention | Churn rate, returning visits | Wallet retention: % of wallets with >1 txn in 7/30/90 days |
Revenue & ROI | ROAS, CAC, LTV | Revenue per Wallet (RPW), $TVL per campaign, token sales, Cost per Wallet (CPW) |
Web2 vs. Web3 marketing metrics
Here are the most important metrics for understanding wallet behavior and campaign performance in Web3:
Website Traffic: Total sessions, unique visitors, and traffic sources.
Wallets Connected: Number of wallets that connected to your dApp.
Active Wallets: The Total number of unique wallets that interacted with your product or campaign within a period.
Conversion Rate: Percentage of site visitors who connected a wallet and completed a first onchain action.
Revenue Per Wallet (RPW): Total onchain revenue/number of active wallets
Cost Per Wallet (CPW): Ad or campaign spend / wallets acquired.
Campaign ROI: The return on ad spend or influencer campaigns by tracking onchain outcomes per UTM or campaign source. → Use the ROI calculator
Wallet Retention: Percentage of wallets that return to your platform after 7, 30, or 90 days
Referral Activity: Track wallet growth via invites, referral codes, or shared links.
Top Tokens Held: Breakdown of token holdings across your user base
Time to First Transaction: Average time from wallet connect to onchain action (mint, swap, etc.)
Crosschain Behavior: Wallet activity across multiple chains to understand loyalty or drop-off points
Best Web3 Marketing Analytics Tools
Tool Type | Example Use Case |
NFT Analytics | Track floor price trends, collector behaviors |
Wallet Analytics | Segment users based on onchain actions |
Social Analytics | Monitor DAO, Discord, or Lens activity |
Product Analytics | Understand drop-off points in dApps |
Wallet Intelligence | Run campaigns based on wallet activity |
To execute effective Web3 growth strategies, you need tools built for wallet-native marketing. Here are the leading platforms:
Formo
Formo is a wallet-native product and marketing analytics platform that combines onchain behavior with offchain data. Formo enables marketers to:
Track wallet conversion from product and websites
Build wallet profiles with token holdings and history
Run campaign onchain attribution
Calculate Revenue Per Wallet (RPW)
Web3 user segments and messaging.
Formo’s landing page
Dune
Dune provides SQL-based dashboards for custom onchain analytics. It’s ideal for analysts who want to build:
Protocol activity dashboards
Custom wallet cohorts
Token flow reports
Dune’s landing page
Nansen
Nansen provides deep wallet intelligence tools:
Labelled wallets and Smart Money tracking
Token explorer and holder analysis
DAO, NFT, and DeFi trends
Nansen’s landing page
Flipside
Flipside is a community analytics platform:
Query data with SQL or Python
Gamify community learning with bounties
Open data environment for collaborative marketing analysis
Flipside’s landing page
Spindl
Spindl specializes in offchain-to-onchain attribution:
Campaign UTM tracking with onchain conversion events
Behavioral funnels for wallet activity
CRM sync and social segmentation
Spindl’s landing page
How Can I Use Data and Analytics to Optimize My Marketing Efforts in Web3?
In Web3, data and analytics are critical for driving growth and making impactful marketing decisions. Yet, a common challenge is connecting social activity with onchain behavior, making campaign performance harder to track.
To optimize your marketing, focus on three key areas:
User Behavior
Track how existing users respond to campaigns—wallet activity, NFT mints, token swaps, etc.—to refine your messaging and timing.
Target Audience Signals
Analyze how your ideal audience interacts with similar content or products to tailor campaigns for better engagement and conversion.
Ecosystem Trends
Monitor market trends, competitor activity, and onchain events to align your strategy with what's working across the ecosystem.
How Can I Measure the Effectiveness of My Web3 Marketing Analytics?
Measuring marketing effectiveness in Web3 requires a blend of traditional analytics and web3-native metrics. Here are the key areas to track:
1. Website Traffic & UTM Tracking
Start by monitoring your website traffic using tools like Formo. UTM parameters help attribute traffic to specific campaigns, so you can identify which wallet adress, ad, or tweet drove conversions or product engagement.
2. Social Media and Onchain Engagement
Social metrics such as impressions, engagement rate, and reach reveal what content resonates. But in Web3, go deeper by combining these with onchain analytics such as wallet connections, NFT mints, or smart contract interactions triggered from your Twitter posts.
3. Quality of Followers
Not all followers are quality. Focus on attracting power users—wallets that actively trade, mint, or use dApps. Tools like Formo or DegenScore can help you assess wallet profiles and follower quality beyond vanity metrics.
4. Revenue Per Onchain Action
Track the revenue per wallet for key campaigns. Knowing how much it costs to drive a wallet activity helps you evaluate ROI and optimize your spending.
5. Audience Insights
Use Web3 user analytics platforms to learn where your audience spends time, how they interact across platforms, and which wallet cohorts are most valuable. These insights allow you to refine your targeting and content strategy.
Data-driven marketing is a must in Web3. Web3 marketing analytics marks a major evolution in how marketers capture insights and shape strategies. While tools like Google Analytics remain critical for tracking user behavior, Web3 tools like Formo unlock powerful onchain insights. By leveraging onchain analytics, attribution tools, and user behavior data, you can boost ROI, effectively allocate resources, and grow with precision.
Further sources:
Follow us on LinkedIn and Twitter, and join our community to learn how Web3 teams turn insights into action with Formo!
Additional FAQs
1. What is Web3 marketing analytics?
Web3 marketing analytics is the process of tracking and analyzing user behavior across Dapps and blockchain platforms using wallet data, onchain activity, and decentralized identity.
2. How is Web3 marketing analytics different from traditional analytics?
Traditional analytics uses device email IDs, while Web3 analytics goes beyond that and supports insights on wallet addresses and onchain activity.
3. Why is Web3 marketing analytics important?
Web3 marketing analytics reveals real engagement, onchain outcomes, and wallet behavior, going beyond vanity metrics that are easy to fake but don't drive growth. Web3 Analytics helps uncover true growth and retention drivers, enabling data-driven decisions.
4. What are the top Web3 marketing metrics?
Key metrics include active wallets, wallet connected, revenue per wallet (RPW), cost per wallet (CPW), ROI, wallet retention, onchain conversion rate, referral activity, and more.
5. What tools are best for Web3 marketing analytics in 2025?
Top tools include Formo, Dune, Nansen, Flipside, and Spindl for tracking wallet activity, campaign attribution, and cross-chain behavior.
