Marketers in the Web2 space have developed various strategies to identify and “capture” potential customers, but in the realm of Web3, the approach is less refined, according to ad-tech executive Asaf Nadler.
Nadler, the chief operating officer of the company Addressable, has introduced a new service that he believes will enhance the effectiveness of marketing in the Web3 environment—primarily from a sales standpoint. The focus is on “retargeting” individuals who came close to making a purchase or participation but ultimately did not follow through.
In the Web2 world, pinpointing such individuals is relatively simple due to the vast amounts of personal data available online. However, in the crypto space, things become more complex because wallets operate under pseudonyms. The database his company provides aims to “bridge the gap,” enabling businesses to reach their most likely customers.
This level of targeting could prove crucial, especially if the current bearish trend in the crypto market worsens, potentially deterring new users. Economic downturns can drive up what traditional marketers refer to as “cost per acquisition,” while Addressable labels it as “cost per wallet.”
“During bear markets, enthusiasm for user acquisition tends to wane,” Nadler noted, “But what founders want is to reassure the community that they still care and to reactivate previous users.”
Addressable clarifies that it isn’t developing a doxxing service. While it may recognize that John Doe controls wallet abc123, it doesn’t share that intel with clients such as CoinDEX. Instead, its platform allows CoinDEX to serve ads targeted at John Doe, aiming to convert wallet abc123 into a paying customer.
Inferring connections is where Addressable excels, according to Nadler. The firm scours social media for clues that can be cross-referenced with wallet information. For example, if wallet abc123 engages with protocols that John Doe follows on X or makes trades mentioned in John Doe’s Reddit discussions, these indicators can help reconstruct a targetable identity.
The company’s approach to ad-tech isn’t merely a crypto-specific innovation; it represents a customized adaptation of existing online marketing strategies, tailored for the on-chain economy. Nadler emphasized that Web3 marketing funnels are particularly narrow, making it especially hard to target potential customers effectively.
“Instead of relying on KOLs or engaging in broad outreach, we empower companies to focus on users who have already interacted with them,” he explained. KOLs, or key opinion leaders, are influential individuals who promote projects to their audiences.
Although Addressable has been operational for three years, the retargeting feature is a new introduction. Nadler is optimistic about its potential to enhance customer loyalty within protocols.
“The worst thing for DeFi projects right now is if users stop placing their trust in them,” he stated, highlighting targeted advertising as a viable solution.