beginner
3 min read
Tracking the Marketing Funnel
Understanding user journeys from awareness to retention
Understanding how users move through a marketing funnel is a great way to reason about behavior, even if real journeys rarely follow a clean, linear path.
In web2, this modeling has traditionally relied on third-party cookies, though that approach has been changing significantly due to shifting regulations.
Typical web3 funnel
- Awareness: User learns your protocol exists (social media, content, ads)
- Interest: User visits your site/app, reads documentation
- Consideration: User connects wallet, explores interface
- Conversion: User completes a first meaningful action aligned with the protocol's goal (swap, stake, provide liquidity)
- Retention: User returns and continues using protocol
Performance-oriented measurement tends to focus on stages where actions can be clearly observed and evaluated, typically stages 3-5, assuming some baseline awareness exists. The goal is to move users from consideration to conversion efficiently, then optimize for retention and revenue.