We stopped trusting engagement rate after this.
We tracked 1,061 leads across 75+ Web3 campaigns.
One thing became very obvious:
High engagement does not always mean high conversions.
One KOL with 2.3% engagement drove 40% of total signups.
Another with 8.1% engagement drove almost nothing.
That’s why we think a lot of projects still focus too much on:
→ likes
→ impressions
→ comments
instead of:
→ wallet connections
→ signups
→ actual user actions
Curious what metric other teams care about the most now 👀