🚀 From Practice to Theory and Back Again: Unraveling the Power of Proxy Metrics in the Web3 Era to measure ROI for Brands 🌐
Through out my professional journey, I’ve always oscillated between hands-on practice and deep academic exploration.
This dance between the tangible and the theoretical has been instrumental in my quest to measure digital marketing since the end of the 90’s (and is now key to answer a pivotal question:
👉 How can brands effectively measure and value their NFT initiatives in the web3 space? 🤔
🚀 Enter the transformative world of proxy metrics. A Proxy Metric serves as a representative data point, illuminating the value of a broader concept or trend. In the realm of marketing, these metrics are invaluable. They offer a lens into the intricate flow of delivering value, both to users and to organizations. 📊
But why are these “proxy metrics” so crucial?⛔
Traditional “vanity metrics” like open rates or click-through rates, or – “how quickly you sell out your NFT drop” – often fail to capture the true impact of marketing initiatives.
🌟 Instead, we need metrics that align with business outcomes, that reflect progress, bottlenecks, and roadblocks on the customer journey. This is where Proxy Metrics shine, acting as beacons guiding us through the complex landscape of marketing KPIs.
🌟 Just as brands embraced the digital realm when metrics showcased the tangible impact of online advertising and digital marketing, we stand on the cusp of a similar revolution with NFTs.
🤔 The key?
👉 Robust branding metrics that support and validate investment in web3.
🌍As we bridge hands-on practice with profound thinking, we’re charting a course for a more measurable and impactful web3 adoption by brands.
I invite you to join this exploration. Dive deep, question, and engage. Let’s co-create the future of brand marketing in the web3 era. 🚀
