4 Marketing Dashboards Web3 Projects Should Be Reporting Every Month

There’s nothing more satisfying for a marketer than growth. New users. Viral campaigns. Revenue. Finding product-market fit. A job well done, evidenced by a beautiful chart of sales, users, and conversions moving up and to the right every month.

Here at Raleon, we believe in celebrating these successes and sharing them with your coworkers, community members, and investors. But that doesn’t mean you should waste time every month with manual, error-prone spreadsheets or clunky slide decks. Instead, consider these executive-level dashboards to automate the process, improve transparency, and inspire even more growth from all in your community!

Tell Your Story

Dashboards are a tool to tell a story. The data in your dashboards represent the actions and behaviors of your users and prospects on-chain and off. When you design these dashboards, focus on your user’s journey from prospect to customer. Who are you targeting? How do you define the right audiences? What dApps do they use? Which Discord servers are they in? How and why are they engaging with you and your products?

But don’t get too granular and lost in the details. For this executive, investor, or DAO audience, it’s important not to lose the forest from the trees. Tell the story, but don’t get bogged down in too many details. For example, your conversion funnel may have any number of different steps — and while it’s helpful to deeply understand each step in your day to day optimizations, your executive audience can skip the intermediary steps in this high-level view.

Don’t bury the lede. We’re big fans of defining your North Star metric. It may be new wallet connections, active players in your game, or the number of NFTs minted at your launch. Whatever it may be, make sure that this North Star is front and center in your dashboard. Here are some common North Star metrics we’ve seen:

Common North Star Metrics in Web3 Projects

Good, bad, or ugly, be transparent. We all know that some campaigns work better than others. Use data to inform stakeholders. Remove emotion and focus on what’s working and what you can do to improve the things that aren’t working. Data can inform product, support, and account management changes. Use your dashboards to celebrate what’s working and focus your team on what needs improvement.

4 Marketing Dashboards Every Web3 Company Should Be Reporting

Return on Investment

For many in web3, ROI will be a financial metric that requires tracking your spending on off-chain campaigns against your conversions on-chain. It doesn’t have to be a financial metric though, depending on your project’s goals and objectives. It could be new users or number of mints per dollar invested, just as easily as it could be revenue. The key here is to understand the bang for your marketing buck.

User and Revenue Growth

After your North Star, you should always address your actual user and revenue numbers (these may, in fact, be your North Star). User and revenue dashboards can be simple bar or line charts, but no matter how you choose to visualize the data, you should always be transparent about the size and shape of your user community.

Per User Economics — Customer Acquisition Cost (CAC) and Lifetime Value (LTV)

Another set of difficult metrics for Web3 marketers are customer acquisition cost and lifetime value. These two metrics together tell the story of your ability to generate profits as you scale. If the lifetime value of the customer is greater than your customer acquisition cost, then you can scale profitably. The challenge is connecting the acquisition activities off-chain with the lifetime value of each user on-chain — including in-game purchases, secondary market sales, and possibly even ad views.

Web3 marketing platforms like Raleon solve this with data schemas specifically designed to connect those activities into a unified customer data platform, and then help you optimize both acquisition and retention.

User and Community Health — Socials, Segments, Churn, and Engagement

Community is a core principle in Web3. This is your opportunity to inform your audience about who your users are, where they hang out, and how they’re interacting with your product, protocol, or service.

We recommend including a view into your specific social media efforts — for example, is your Discord community growing? How is your engagement on Twitter? Is your email list growing? What is resonating with your highest value user personas? Build your dashboards to filter by these segments and highlight why the data supports your strategy, whatever it may be.

This is also the time to show churn levels, dormant users, and your efforts to re-engage with these users. Churn is yet another standard Web2 metric that can be difficult for non-technical marketers to track on-chain without a specialized platform, designed for these Web3 specific use cases.

Don’t be afraid to iterate!

Just like you test and optimize your marketing tactics, take feedback from your investors, community, and leadership to iterate and optimize your dashboards. Over time, your business, community, and product will change — your marketing will too! Let these dashboards evolve with you.

Need help?

If you need help with your dashboards, defining your user personas, connecting your off-chain activities with on-chain transactions, or simply want to talk about best practices in Web3 marketing, Raleon can help.  Click here to try it now. We’d love to hear from you!

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