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What is Wallet Relationship Management?

What is wallet relationship management

Ever since the internet exploded into the mainstream, the data concerning users viewing habits has been incredibly valuable. This has been immensely popular for huge tech corporations like Google, Facebook, and Amazon. These firms have had control of the vast amount of data from users of their platform and they have been able to use it to build the most targeted and effective ads on the internet. 

Now, crypto has introduced a whole new type of accessible data. Never before have so many transactions been publicly available. This represents a total sea change in how data can be utilized because it is accessible to everyone rather than just a few select firms. The challenge, of course, is how to use it. That’s where Wallet Relationship Management comes in.

Wallet Relationship Management

Wallet relationship management creates customer profiles by combining both web2 and web3 data. The contents of anyone’s wallet will tell you a lot about that person.

By looking at a crypto wallet, Web3RM will analyse NFT purchases and sales. It will look at the coins and tokens that are held in the wallet. It will look at the amount of trade performed and the trading volume. Then, it can track all of this data and trace it back to the creation of the wallet. 

This already creates a very comprehensive profile of a customer but that’s not where Web3RM stops. All of this information can be combined with more traditional data from the customer’s Web2 habits. Information such as their social media accounts, their address, their brand affiliation, their email address, and their interests and hobbies are all invaluable in trying to understand your customer. 

Of course, this data will have to be gathered voluntarily from your customers through give-away, or whitelist opportunities. 

All this information is combined and through machine learning, sentient analysis, and composable interpretation, the profile of your customer starts to take shape.

A New Way To Connect With Your Customers

Now you have an understanding of your customers’ behavior. This will enable you to segment your audience and engage in far more effective and efficient advertising. 

Maybe you have a certain high-end product with a high price, and you need to identify individuals who can afford it based on the contents of their wallet. Maybe you are launching a new NFT line and you want to advertise it towards people who have already purchased similar NFTs. Maybe you just need to determine the best way to engage with the customer to foster brand loyalty. 

This information is invaluable for any business and is available on Web3RM through a composable, modular and easy-to-use UX/UI. As more businesses come on-chain, this information will become a bigger and bigger tool in marketing. Don’t get left behind.

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