Guided Workflows for Better Insights
Last updated
Last updated
This section provides essential workflows to help you gain actionable insights from the app. These workflows address specific challenges and offer clear solutions, ensuring a smoother, more efficient experience.
Tracking user behavior and platform performance begins with monitoring key metrics: visitors, sessions, transactions, active wallets, page visits and wallet spent. Together, these metrics provide a comprehensive view of how users engage with your platform, helping you identify areas for improvement.
Visitors represent all users who land on your platform, regardless of whether they connect their wallet. A high number of visitors without conversions can indicate the need for better engagement strategies. Sessions reveal how long users stay active, with more sessions or longer durations reflecting higher engagement. Short sessions may point to user experience issues.
Transactions track wallet interactions like purchases or transfers, offering insight into how users engage financially. A low number of transactions could suggest that users are not finding enough value. Active wallets measure meaningful user engagement, and drops in this metric can signal retention problems.
Page visits show which areas of your platform are drawing the most attention, helping you identify high-traffic pages that are valuable to users and low-traffic ones that may need adjustments. Lastly, wallet spend tracks user financial activity, allowing you to identify high-value customers and the campaigns driving the most revenue.
Tracking where your high-value users come from helps you make smarter marketing decisions. In this section, you'll learn which referrers (like social media, campaigns, or websites) bring in users who spend the most or interact with your platform.
Instead of just looking at traffic volume, focus on wallet spend. By sorting referrers based on how much users from those sources spend or engage, you can figure out which channels are giving you the best return. This lets you invest in the ones that bring real value and avoid those that don’t.
By selecting a specific referrer, you can explore Session Details to understand how visitors interact with your platform and see which Wallets were connected during these sessions. This helps you identify which referrers bring in the most valuable users and which wallets drive significant activity, allowing you to optimize your marketing efforts and focus on high-value sources.
In Referrer Sessions, you can see detailed information about each session, such as how long users stayed, their actions, where they dropped off, and where they came from.
This helps you answer key questions:
Which campaigns or links did they click to get acquired by the referrer?
Identifying the specific campaign or referral source that brought the users to your platform will help you understand which acquisition channels are most effective.
Are users from this referrer engaged?
See how long they stay and what actions they take to determine if they’re getting value from your platform.
Do these sessions lead to wallet connections or transactions?
Track what users do during their visit to measure whether this referrer drives meaningful engagement.
When you look at Referrer Wallets, you can track which wallets were acquired through a particular referrer and sort them by Lifetime Wallet Spend. This shows how much each wallet has spent on your platform since their first transaction, allowing you to spot your most valuable customers.
Retaining users is just as important as acquiring them. Retention metrics reveal whether users are finding value in your platform and returning after their first interaction. These metrics help you identify what’s working to keep users engaged and how to replicate those successes across new campaigns or features.
Retention metrics, like Day 7, Day 30, and Day 90, offer a snapshot of user engagement over time. Tracking these critical intervals allows you to better understand user behavior and identify opportunities to improve long-term retention.
Tracking Retention at Key Intervals: Day 7, Day 30, and Day 90
Day 7 Retention measures how many users return within a week of their first visit. The first week is crucial for hooking new users. Low Day 7 retention often points to issues with the first impression your platform makes, such as onboarding or immediate value.
Day 30 Retention tracks how many users return a month after their first visit. A strong Day 30 retention suggests users are finding ongoing value and are more likely to become loyal. Low Day 30 retention indicates users may lose interest after the initial few weeks.
Day 90 Retention shows how many users are still active three months after their first interaction. This metric reflects long-term loyalty. Users who stick around for 90 days are often your most valuable customers. Low Day 90 retention signals a need to improve long-term engagement.
Retention heatmaps help visualize user retention over time. They show how well you retain users (wallets) and how many return after specific periods.
Here’s how to read and use a retention heat map:
Cohorts: Each row represents a group of wallets that first connected to your platform during a specific week or month. This allows you to see how different groups of users behave over time.
Columns (0, 1, 2, etc.): These columns show how many weeks or months have passed since the wallets' first interaction. The percentages within each column show the proportion of wallets from that cohort that returned in subsequent weeks or months.
Start with the First Week/Month (Column 0):
The values in the first column (0) represent the number of wallets that initially connected to your platform in the given week or month.
The rows represent different cohorts of wallets based on the week they were first seen on the platform.
Example: In the row labeled "01/07/24," 6,376 wallets first connected to your platform during this week.
Track Retention over Time:
As you move right across the row, the percentages show how many wallets from that cohort returned after 1 week, 2 weeks, etc.
Example: For the cohort starting on "01/07/24," 12% of wallets returned after 1 week, 7% after 2 weeks, 5% after 3 weeks, and so on.
Higher percentages across time indicate better retention and continued engagement.
Identify Drop-Off Points:
Look for where the percentages drop significantly across the weeks or months. This shows where user engagement is declining.
Example: For the cohort that connected during "01/07/24," retention falls from 12% in Week 1 to 7% in Week 2, and then to 5% in Week 3. This decline could indicate a point where users lose interest, signaling that improvements may be needed to sustain engagement beyond the first week or two.
Compare Different Cohorts:
Compare retention rates across different cohorts (rows) to see how well specific groups of users are retained.
Example: In the cohort from "15/07/24," 9,680 wallets connected during that week, and 12% returned after 1 week, followed by 8% in Week 2, which is a slightly stronger retention compared to the "01/07/24" cohort. This comparison helps you identify whether product changes or marketing efforts are more effective in driving better long-term engagement.
Tracking notable wallets and high-value transactions allows you to focus on your most valuable users, particularly those who contribute the most to your platform. By understanding wallet activity and spending patterns, you can optimize your efforts toward retaining premium customers and identifying opportunities for growth.
Notable wallets are those that engage the most or spend the most on your platform. By analyzing wallet data, you can easily identify your top customers based on their activity. Users with high lifetime spend or frequent transactions are typically your most valuable users.
Navigate to the Wallets Section: On the left side of the app, you’ll find the Wallets section. This area provides detailed insights into each wallet’s activity.
Sort by Wallet Spend: Once in the Wallets section, you can sort wallets by Wallet Spend to view the top spenders for a selected time period. This allows you to quickly identify your most engaged and valuable customers based on how much they’ve spent on your platform over time.
Investigating Notable Wallets
Once you’ve identified your notable wallets, it’s important to dig deeper into their activity to understand how they were acquired and how they interact with your platform.
Here’s how to investigate notable wallets:
First Seen Date: By checking when a wallet was first seen on your platform, you can track when they were acquired and understand the timeline of their engagement. This helps you pinpoint which campaigns or events may have brought them in.
Lifetime Wallet Spend & Net Worth: Look at the Lifetime Wallet Spend to see how much they’ve contributed to your platform since their first transaction. Their Net Worth gives you a broader sense of their financial activity and potential as a premium customer.
Drill Down into Sessions: By drilling down into their sessions, you can identify their behavior, such as how they interact with your platform during each visit. This includes tracking what pages they visit, their actions, and when they drop off. You can also determine the source that brought them in or their first touch attribution, which helps you pinpoint the source that initially brought these users to your platform. By identifying the acquisition channel or campaign responsible for bringing in high-value users, you can focus your efforts on strategies that attract and convert similar users. For example, if a significant number of high-value users consistently come from a particular campaign, you can prioritize similar approaches to increase user acquisition.
High-value transactions are those with significant wallet spend made on your platform during a specific time period, whether it’s a transfer, purchase, or any other financial activity. These transactions highlight user engagement and the monetary flow within your platform.
To find high-value transactions:
Go to the Transactions Section: On the left side of the app, click on Transactions to view all activities.
Sort by Wallet Spend: In the Wallet Spend (USD) column, sort to display the highest-value transactions for the selected time period.
Once you've identified high-value transactions, it's essential to dive deeper into these transactions to understand the behavior and motivations behind them. High-value transactions often represent key moments of engagement, and analyzing them can provide insights that help optimize your platform for premium users.
Steps to Investigate High-Value Transactions:
Use the Transaction Dropdown for Detailed Analysis: In the Transactions section, click the dropdown next to a transaction entry to uncover essential details:
Tokens Transferred: See the tokens involved to understand what assets are being transferred.
Wallet Addresses: Analyze the wallet addresses of both the sender and recipient. This provides insight into which users are engaging in significant transactions.
Gas Fees and Value: Understand the gas value and total value in USD to confirm the financial importance of the transaction.
Identify Spending Patterns:
Transaction Frequency: Are high-value transactions happening frequently with specific wallets or just as one-off events? Identifying repeat transactions can help you understand which users are deeply engaged.
Transaction Timing: Are these large transactions connected to your platform's specific promotions, features, or events? You can pinpoint what drives this type of activity by identifying when these transactions occur.
Connect High-Value Transactions with Campaigns: If high-value transactions are tied to specific campaigns or events, you can identify which strategies attract your most valuable users. This helps you focus future marketing efforts that drive the most revenue.
Analyzing high-value transactions, you understand where your platform generates revenue and gain insights into user motivations. This allows you to build stronger engagement strategies and cater more effectively to high-spending users.
Tracking active wallets and growth accounting provide essential insights into user engagement and platform growth. These metrics help you monitor wallet activity, understand user behavior, and evaluate the effectiveness of your marketing and retention strategies.
Key Wallet Metrics:
New Wallets: These wallets represent new users engaging with your platform for the first time, offering insight into acquisition success. Monitoring new wallets gauges the effectiveness of acquisition campaigns. A spike in new wallets indicates a successful campaign or marketing push.
Retained Wallets: Users who consistently return after their first interaction. Tracking retained wallets measures user satisfaction and long-term engagement. Low retention may indicate issues with the user experience or platform value.
Churned Wallets: Wallets that stop engaging after being active for a period of time (e.g., 30 days). This helps you spot drop-off points and potential issues with user retention. An increase in churned wallets signals a need to reassess your user engagement strategies.
Resurrected Wallets: Wallets that were once inactive but have re-engaged with your platform. Monitoring resurrected wallets evaluates the success of your re-engagement campaigns or events that drive users back.
View these wallet metrics in weekly or monthly formats to track growth over different periods. By switching between these views, you can:
Analyze Short-Term and Long-Term Trends: Use weekly views to measure the immediate impact of campaigns, while monthly views can help identify broader patterns in wallet growth and retention.
Adjust Strategies Quickly: If you notice a decline in retained wallets or an increase in churned wallets in weekly views, you can implement quick fixes to improve engagement before the problem escalates.
Understand Growth Accounting: The breakdown of new, retained, and resurrected wallets over time offers a clear understanding of how your platform is growing and retaining users.
Monitoring active wallets and applying growth accounting helps you:
Focus on strategies that retain users and minimize churn.
Assess the success of your marketing and re-engagement campaigns.
Improve user loyalty by identifying what works and replicating a successful strategy.
User stickiness helps you understand how often users (wallets) come back to your platform on selected time period. It compares daily, weekly, and monthly activity to show how engaged users are over time. The goal is to see how frequently users return to interact with your platform, which tells you if they find value in your services.
Daily Active Wallets (DAW): This tells you how many wallets are active on your platform each day. A higher DAW means users are interacting frequently on a daily basis.
Weekly Active Wallets (WAW): This measures how many unique wallets are active over a week. A higher WAW means users are coming back throughout the week.
Monthly Active Wallets (MAW): This tracks how many unique wallets are active in a month. A higher MAW shows long-term engagement.
What to look for:
A higher DAW/WAW ratio means users are coming back regularly within the week.
A higher WAW/MAW ratio shows consistent engagement on a weekly basis throughout the month.
A higher DAW/MAW ratio means wallets are returning daily over the course of the month, which shows very strong user loyalty.
In short, the higher the percentage for these ratios, the more "sticky" your platform is. Sticky platforms keep users coming back again and again!
Interpreting the User Stickiness Chart
For example, in this chart:
DAW / WAW (17.81%): About 18% of weekly active wallets also engage daily. This suggests daily engagement is low, indicating the need for improvement.
WAW / MAW (34.01%): Approximately 34% of monthly active wallets are also active weekly. While this shows some consistency, there’s an opportunity to enhance weekly engagement through targeted campaigns.
DAW / MAW (6.06%): Only 6% of monthly active wallets are active daily, indicating that users may not find enough value to return daily.
By focusing on these metrics, you can create strategies to boost user stickiness and retention on your platform.
Measuring your campaigns' success is crucial for understanding their effectiveness. You can gain insights into how well your campaigns are performing by tracking key metrics such as wallet connections, transactions, and wallet spend. This data helps you assess their impact on your overall platform performance and identify areas for improvement.
Wallet Connections: Monitor the number of new wallets connecting as a result of your campaigns. A spike in new wallets signals that your outreach and messaging are effective.
Transactions: Analyze the volume and value of user transactions tied to your campaigns. High transaction numbers show successful conversion of interest into action.
Wallet Spend: Track how much users are spending via each campaign. Higher wallet spend indicates more revenue, helping you gauge ROI and optimize future efforts.
Use the dashboard to review visitor activity, session duration, and engagement while identifying top-performing campaigns to replicate their success. Leverage charts and graphs to track trends over time—if a campaign shows consistent growth in wallet connections and transactions, consider investing in similar strategies. Regularly analyzing your campaign performance allows you to refine your marketing approach and stay aligned with your business objectives.
Creating a Campaign
Creating a marketing campaign enables you to target specific audiences effectively and measure the success of your initiatives.
To create a new marketing campaign, follow these steps:
On the campaigns table, Click on Create New
Fill in the Required Fields:
Base URL: Enter the URL for your campaign (e.g., https://example.com).
Name: Provide a name for your campaign.
Source: Specify where the traffic is coming from (e.g., Twitter, Google).
Medium: Select how your campaign will reach users from the drop-down list (e.g., affiliate_social).
Content: Optionally, add additional information about the campaign.
Paid Advertising: If applicable, check the box to enter the Campaign Term and Campaign ID.
Once all fields are completed, click Create Campaign to set up your campaign.
Once the campaign is created, copy the UTM link and use it in your marketing efforts to effectively track performance.
Important Note:
Newly created campaigns will appear in the last few rows of the campaign table until any spend is tracked.
Importing campaigns allows you to utilize existing marketing efforts efficiently by consolidating them in one place. This process helps you save time and ensures that all your campaigns are organized and monitored effectively.
To import a campaign, follow these steps:
Navigate to the Campaigns Table and Click on the Discovered tab to view all available campaigns for import.
Review the list of campaigns and select the ones you wish to import.
Complete the fields as you did when creating a campaign, including Base URL, Name, Source, Medium, and Content.
Once you've filled out the required fields, click the Import button to complete the process.
After importing, return to the campaign table to confirm that your selected campaigns are now visible.
Managing your campaigns allows you to change their status or remove them altogether.
To manage your campaigns:
Select the checkbox next to the campaigns you wish to manage.
Update the status of the campaigns by choosing from options like Pause, Active, Stopped, Archive, or Delete.
You can also update the status of multiple campaigns at once by checking their boxes, allowing for more efficient monitoring and adjustments.
UTM (Urchin Tracking Module) tags are essential for accurately tracking the performance of your marketing campaigns. They provide valuable data that helps you understand where your traffic is coming from and your marketing efforts' effectiveness. Here's why UTM tags matter:
Accurate Tracking:
UTM tags allow you to specify the source, medium, and campaign name associated with each link you share. This ensures that you can accurately attribute wallet connections and transactions to specific campaigns when users click these links.
Critical Insights:
With proper tagging, you can gain critical insights about user behavior. For example, you may need to determine whether new wallet connections originated from an email campaign, social media post, or another source. This information is vital for understanding which channels are most effective in driving traffic.
Wallet Acquisition Analysis:
By using UTM tags, you can easily drill down to see which wallets have been acquired through a specific campaign. Suppose a campaign successfully generates a substantial amount of wallet activity. In that case, you can investigate at the wallet level to understand how much each acquired wallet spends and how they interact with your platform.
Optimizing Marketing Strategies:
By analyzing the data collected through UTM tags, you can identify successful campaigns and those that need improvement. This enables you to refine your marketing strategies, allocate resources effectively, and increase overall campaign performance.
Measuring ROI:
UTM tags provide the data necessary to measure your campaigns' ROI. By linking wallet spend and transactions to specific UTM-tagged links, you can assess the financial impact of your marketing efforts.
In summary, using UTM tags is crucial for clearly understanding your marketing performance. By implementing them in your campaigns, you ensure you have the insights to make informed decisions and drive your marketing strategies forward.
The Wallet Overview page helps you understand your users by tracking individual wallet activity and engagement on your platform. By drilling down into the details provided, you can uncover valuable insights about user behavior, spending habits, and session activity. This will help you identify your most valuable users and optimize your platform accordingly.
Lifetime Wallet Spend (USD): The total amount spent by the wallet since its first transaction on your platform. High spend indicates a valuable, engaged user, helping you prioritize retention efforts.
Wallet Spend (USD): Measures wallet activity within a specific period. Significant recent spending may indicate an active and engaged user.
Net Worth (USD): The total value of assets held by the wallet. While not directly tied to platform engagement, it shows financial strength and potential for high-value interactions.
Sessions: Tracks how often and for how long the wallet interacts with your platform. Multiple sessions suggest repeated engagement and opportunities for long-term retention.
Transactions: Shows the number of transactions made by the wallet, indicating the user’s financial engagement with your platform.
Age (Days): The age of the wallet since it was created or first appeared on the blockchain. This helps distinguish new from long-standing wallets.
Last Active/Last On Chain: Tracks the wallet’s last interaction with your platform or the blockchain, indicating recent user activity and when re-engagement efforts might be needed.
Digging into Wallet Insights:
Clicking on a wallet in the overview provides detailed insights:
Analyze Session Activity: See how users interact, including session duration, events, and transaction details. This reveals which features users engage with most and where they might lose interest.
Identify Drop-Off Points: Pinpoint where users leave, helping you identify and resolve pain points in the user journey.
Track Acquisition Channels: See how wallets arrived—through a campaign, referral, or direct visit—allowing you to focus on the acquisition channels that bring in the most engaged users.
Identify High-Value Users: Focus on wallets with high Lifetime Spend and Transaction Count to create personalized retention strategies.
Optimize User Experience: Use Session Data to understand user behavior and improve platform layout or flow to reduce drop-offs.
Refine Marketing Strategies: Track Acquisition Channels to see which campaigns bring in valuable users, and adjust marketing efforts accordingly.
Boost Retention: Analyze Sessions to identify barriers causing users to drop off, and address them to improve conversion and retention.
Re-Engage Inactive Users: Use the Last Active metric to target users who haven’t engaged recently with special offers or incentives.
What is the difference between new, retained, churned, and resurrected wallets?
New Wallets: First-time users who connect a wallet.
Retained Wallets: Users who return to your platform regularly.
Churned Wallets: Users who have stopped engaging with your platform for the last 30 days.
Resurrected Wallets: Users who were inactive but have returned after a period of disengagement after 30 days.
How do I identify high-value users?
Use the Notable Wallets and High-Value Transactions workflow to analyze wallets by transaction volume. High-value users typically show a pattern of repeated transactions and significant wallet spend. You can engage them through personalized offers or VIP programs.
How can I reduce user churn?
Start by analyzing your Retention Metrics. If you see a significant drop-off, implement re-engagement campaigns, such as email reminders, incentives, or content aimed at reconnecting with churned users. Monitoring churned wallets in the User Stickiness: Daily, Weekly, and Monthly Wallets section can also give you insights into user behavior.
How do I analyze retention heat map?
To analyze retention metrics effectively, we recommend reviewing How to Analyze the Retention Heatmap section. This guide provides detailed instructions on how to interpret the heatmap's layout, identify retention rates, examine specific cohorts, and spot significant drop-off points.
How do I create a campaign?
To create a campaign, follow these steps:
Click on Create New in the Campaigns Table.
Fill in the required fields, including Base URL, Name, Source, Medium, and Content.
If applicable, check the box for Paid Advertising to enter Campaign Term and Campaign ID.
Click Create Campaign to finalize your setup.
For detailed instructions, refer to the Campaign Creation and Performance Tracking section in our guide.
What are Daily Active Wallets, Weekly Active Wallets, and Monthly Active Wallets, and how are they measured?
Daily Active Wallets (DAW): This metric counts the number of unique wallets that interact with your platform each day. It measures short-term engagement and user activity. A higher DAW indicates strong daily user interaction.
Weekly Active Wallets (WAW): This metric tracks the number of unique wallets that engage with your platform over the span of a week. It's useful for assessing engagement trends and the performance of weekly campaigns. A higher WAW suggests users are consistently returning throughout the week.
Monthly Active Wallets (MAW): This metric measures the number of unique wallets active over a month. It provides a broader view of long-term engagement and helps assess overall user retention. A high MAW indicates that users find sufficient value to return regularly over a longer period.
For detailed insights and analysis, refer to the User Stickiness: Daily, Weekly, and Monthly Wallets section in our guide.
What is Wallet Spend and Lifetime Wallet Spend?
Wallet Spend refers to the total amount spent in USD ($) by a wallet on your platform during a specific period. This includes all transactions, such as purchases, fees, or gas costs. Tracking wallet spend helps you understand user activity and engagement within that timeframe.
Lifetime Wallet Spend is the total amount a wallet has spent in USD ($) on your platform since their first transaction. It’s the cumulative value of all transactions over time, helping you identify your most valuable users and allowing you to target them with special offers or loyalty programs to maintain engagement.
What insights can I gain from the Multi-Chain Analytics feature?
Multi-Chain Analytics provides detailed insights into wallet behavior, transaction volumes, and user engagement across multiple blockchains. You can also see which blockchains are contributing the most to your platform’s performance and identify key opportunities for expansion and improvement.
How do I use Multi-Chain Analytics to monitor cross-chain activity?
Multi-Chain Analytics lets you view wallet connections, transactions, and user activity across different blockchains. You can set up workflows that include cross-chain comparisons, analyze how users behave on each chain, and identify which chains are driving the most engagement and value for your platform.
