Every marketer needs data. The problem is that Web3 makes it difficult to retrieve that data. Where do your customers come from and what do they do? This is the basics of Web2. It's Marketing 101. However, Web3 has off-chain behavior and on-chain behavior, making it difficult to connect the two.
Cookie3 describes itself as “the first open MarketingFi economy shared between users, creators, and businesses.” Cookie3 includes the Web3 marketing ecosystem, which aims to connect creators and advertisers, tools for KOLs (key online influencers) to quantify their reputation, and most of all, to help projects understand both. It has a variety of features, including AI-powered data analysis tools. Off-chain and on-chain marketing behavior.
“You can think of it as a replacement for Google Analytics,” says Philip Wilania, co-founder and CEO of Cookie3. He has a background in both IT and digital marketing at Deloitte. The Cookie3 plugin allows Web3 projects to understand their customers' ROI, lifetime value, and contribution to on-chain progress. Wielanier explains how Cookie3 analytics works, why this data is important for any project, and he explains that Web3 marketing is a win-win for everyone as creators are building more engaged communities. Explain why this is the case.
The interview has been condensed and lightly edited for clarity.
What are the biggest advantages of Web3 Marketing over Web2 Marketing?
Philip Willanier: Web3 allows you to communicate directly with and incentivize your contributors. You can also decentralize what Web2 calls “publishers.” You can make them your ambassadors. You can also collaborate with and provide value directly to other creators who contribute directly to the ecosystem. This is very difficult with Web2 Marketing. And this is exactly why we created it. affiliate — Provided by automated or non-privileged means. Cookie3 affiliate marketing can be thought of as a type of matching between creators and advertisers.
You mentioned the Cookie3 affiliate program, but what is the overall vision for Cookie3?
The current vision is to provide fair value distribution among various stakeholders such as retail individuals, creators, and businesses. We're building a whole ecosystem to bring it to everyone. Currently, especially in the cryptocurrency industry, a small group of insiders have a huge advantage in terms of information, and we want to open this up to the entire market.
I like this in theory, but could you give me an example to make it more concrete?
of course. Fundamentally, we are a data company. We specifically use the AI data layer and are working on a variety of solutions, including our user analytics platform, Cookie3 Analytics. You can think of it as an alternative to Google Analytics. We help people understand flows such as user attribution, transactions, and on-chain conversions. Measuring the two worlds of off-chain and on-chain data together is very difficult, but we provide that information in one place.
Understood. So, in general, who are the main end users? Is it a project or a company that wants to understand its customers better?
Yeah. In other words, we are B2B2C. [Business to business to consumer.] Therefore, any platform, be it a DeFi platform, DEX, or gamification platform that wants to onboard users, needs to optimize its marketing spend. And you want to tailor your communications to specific user groups. Thanks to our insights, they will finally be able to understand who is actually using the platform, what their flows are, and what their attribution sources are. You can see her ROI on marketing campaigns. Also, the Web3 world is in a challenging environment because you have off-chain attribution and on-chain conversion, which are difficult to measure together.
Can you give a specific example of how this kind of insight can help your project?
this is awesome Use case Our client Northam's. They were able to reduce their marketing costs by 64%. They thought they were doing well because a lot of people were coming together, but when they looked at the on-chain data, they saw very little tokens and liquidity in the wallets of the people they were attributing. I understand that. This is not the person you want logging into your platform. These users were not generating any value or revenue.
So they looked at other channels that had fewer users but could potentially attract more valuable users. They have completely stopped putting money into users that don't bring value. Vanity metrics alone have their limits.
Vanity metrics are when, for example, you're doing an airdrop and a lot of bots are following you on Twitter and the numbers look amazing. It's a vanity project.
I'm glad you mentioned bots. How do you deal with the bot problem when analyzing data? And isn't this becoming even more complex in the world of AI?
Yes, I won't tell you the exact details. Once I tell you…
It's your secret sauce!
But you know, it's a constant chase.They are [bad actors] I'm chasing. Basically we're chasing them.and there are a lot [actors] For example, they are simply exploiting certain metrics and behaviors in order to obtain airdrops or drain valuables from airdrop campaigns. We are talking about tokens worth sometimes millions, so these are real risks. In terms of how you approach it, it's very conventional.
What exactly are these villains doing?
Attackers create multiple accounts focused on attacking specific protocols or interacting with specific smart contracts to earn some kind of incentive or airdrop in upcoming airdrop campaigns . This is the most common use case for Sybil bots and Sybil attacks. They may create multiple, sometimes thousands, or even tens of thousands of wallets.
Where do you have to act as a cybersecurity company in addition to data analysis?
species. And it's getting even harder because these Sybils are much more advanced and sophisticated than they were even a year ago, especially with the introduction of various AI solutions. So it's a constant race going on to chase each other because we're using machine learning models to detect them, and then we're using other models to try to avoid being detected.
And by the time our calling ends, it will have evolved again.
Yeah. This is the actual environment and current situation in which we live. This is why projects like Worldcoin are a great example of where Proof of Humanity will be so needed in the future, as AI behavior becomes more sophisticated.
One of the taglines on your web page is “MarketingFi Protocol and AI Data Layer.” What exactly do we mean by “AI data layer”?
This is our area of expertise. We are a data company and provide these data points from various angles, including on-chain. It's like Google Analytics data. And when the platform is integrated with our analytics plugins, all that data is available to help you understand user behavior.
Can you give me another example of the insights that companies can gain by using all of this?
Yes, certainly. Basically, mentions and likes! [on social media] can be measured. When someone talks or promotes your product digitally, you'll see the results. This also applies to marketing efforts such as advertising, collaborations with influencers, and the Quest platform. Thanks to us, we can basically see the real results, not just in terms of the number of visits and the time spent on her website by users who come from a particular source and spend an exact amount of money. Masu. Check out the actual results of the protocol. Thanks to on-chain statistics, you can see how much liquidity is coming from different sources. Finally, you can calculate ROI, customer acquisition cost, and customer lifetime value. These are very basic metrics in the Web2 marketing world, but they are less common in Web3 because they are harder to measure.
Finally, let’s talk about your vision for Web3, which is how decentralized creators can connect with consumers instead of using Google or Facebook. Can you give us an example of how this works?
Absolutely. Essentially, it's the advertiser who defines the campaign. They define the conversion event, and they define the reward for the conversion event. Then the publisher (in this case the creator) decides whether they want to participate. They then promote their product to get conversions, and for each conversion (which is verified by a validation engine), the creator is rewarded by the smart contract. And those rewards can also be cost-shared with the end user. This is just one example, but there are many more.
Additionally, thanks to blockchain, you can also reward your community if they are interested in you. This is a win-win situation for everyone, as creators are building a more engaged community thanks to this value-sharing approach. ”
