10 Essential Metrics for Measuring Crypto Wallet Marketing Success 2024

Because the crypto marketplace continues to mature, there is a rising need for secure and user-friendly wallets to store these assets. Non-custodial wallets, often referred to as self-custody wallets, have emerged as a popular choice for cryptocurrency users who wish to take control of their assets and keep them secure.

However, like any other product, non-custodial wallets need to be marketed effectively to attract users and build a loyal customer base.

In this blog post, we will discuss 10 essential metrics for measuring the success of a marketing campaign for cryptocurrency wallets.

10 Essential KPIs for Advertising and marketing Crypto

Wallets

Conversion Fee

The conversion rate is the proportion of website visitors who take a desired action, such as signing up for your wallet. For a non-custodial wallet, the desired action could be creating an account, setting up the wallet, or making a transaction. Monitoring your conversion rate is crucial to measure the effectiveness of your marketing campaign in driving user acquisition.

A low conversion rate might indicate issues with your website or app design or marketing messaging, while a high conversion rate could suggest that your marketing efforts are resonating with your target audience.

Person Acquisition Value (CAC)

The customer acquisition cost (CAC) is the expense incurred to acquire each new user for your non-custodial wallet. This metric helps you determine the effectiveness of your marketing efforts in attracting new users. A high CAC might indicate that your marketing campaigns are not targeting the right audience or that your messaging is not resonating with potential users.

To calculate your CAC, divide your total marketing expenses by the number of new users acquired during a specific period.

Buyer Lifetime Price (CLTV)

The customer lifetime value (CLTV) is the amount of revenue you can expect to earn from each customer over their lifetime. This metric helps you determine the long-term impact of your marketing campaign on your business.

A high CLTV indicates that your marketing efforts are attracting loyal customers who are likely to generate more revenue for your business over time.

To calculate your CLTV, multiply the average revenue per customer by the average customer lifespan.

Retention Fee

The retention rate is the percentage of users who continue to use your wallet over time. This metric is an excellent indicator of the effectiveness of your marketing campaign in building loyalty among your users.

A high retention rate suggests that your crypto wallet is meeting the needs of your users and that your marketing efforts are effective in keeping them engaged.

To calculate your retention rate, divide the number of active users at the end of a period by the number of active users at the beginning of the period.

A deficient retention price might be signal of:

• Deficient User Experience
• Lack of Engagement
• Security Concerns
• Deficient Customer Support
• Misalignment of Your Product and Marketing Message
• User Engagement

User engagement measures the extent of interaction users have with your non-custodial wallet, such as the number of transactions or the frequency of logins. High user engagement indicates that users find value in your wallet and are actively using it, which can lead to increased loyalty and retention.

This metric helps you assess the effectiveness of your marketing campaign in driving user engagement.

A high level of user engagement indicates that your non-custodial wallet is meeting the needs of your customers and that your marketing efforts are successfully keeping them involved.

Social Media Engagement

Social media engagement measures the extent of interaction your social media posts receive, such as likes, comments, and shares. This metric helps you determine the reach and impact of your marketing campaign on social media.

A high level of social media engagement indicates that your marketing efforts are resonating with your target audience and that your social media strategy is effective in driving engagement.

For inspiration, check out some of the top crypto Twitter accounts.

Natural Visitors

Organic traffic measures the number of visitors your website receives from organic search results. This metric helps you evaluate the effectiveness of your SEO efforts in driving user acquisition. A high level of organic traffic indicates that your website is ranking well in search results, which can drive more visitors and ultimately increase conversions.

To boost your organic traffic, focus on optimizing your website for relevant keywords, creating high-quality content, and building backlinks from other sites.

A crypto SEO company can assist with these efforts.

Referral Visitors

Referral traffic measures the number of visitors your website receives from referral sources, such as other websites or social media. This metric helps you evaluate the effectiveness of your referral marketing efforts in driving user acquisition.

A high level of referral traffic indicates that your referral strategy is successful in bringing visitors to your website and increasing conversions.

To boost your referral traffic, consider partnering with other companies in the cryptocurrency space or offering incentives for users to refer friends to your non-custodial wallet.

Buyer Pleasure

Customer satisfaction measures the level of contentment users have with your wallet. This metric can be assessed through surveys, feedback forms, or reviews.

A high level of customer satisfaction indicates that your non-custodial wallet is meeting the needs of your users and that your marketing efforts are effective in building a loyal customer base.

To enhance customer satisfaction, focus on providing excellent customer support, responding to user feedback, and continually improving your product.

Income

Revenue measures the total amount of income generated by your non-custodial wallet. This metric is the ultimate indicator of the success of your marketing campaign in driving business outcomes.

A high level of revenue indicates that your marketing efforts are effective in driving user acquisition, increasing user engagement, and building customer loyalty.

To increase your revenue, focus on optimizing your pricing strategy, introducing new features or products, and expanding your user base through targeted marketing campaigns.

Conclusion

Marketing crypto wallets can be challenging, but by monitoring these 10 essential metrics, you can assess the effectiveness of your campaigns and make data-driven decisions to improve your results.

Focus on attracting the right audience, building trust and loyalty with your customers, and continually enhancing your product to meet their needs.

With a solid strategy and a user-friendly crypto wallet, you can position your business for success in the competitive Web3 space.

If you need assistance with your crypto wallet marketing, consider Coin Bound, a marketing agency specifically designed for crypto companies.