Crypto & Web3

The shape tilts toward Digital Maturity (69.3) and away from Retention & Loyalty (61.1). That tilt tells you where the industry's marketing dollars have gone and where they haven't. The businesses that correct the tilt first will see outsized returns because they're fixing the constraint that's holding everything else back.

Dimension Breakdown

Marketing maturity in the most volatile category in Australia

Crypto marketing in Australia exists in a regulatory and reputational environment that does not exist elsewhere. The collapse of FTX, the ASIC crackdown on unlicensed operators and the introduction of licensing requirements for digital asset exchanges have all shaped how the surviving players market themselves.

The composite of 65.2 places crypto in the middle-upper range, which reflects the digital sophistication of the operators that have survived the shakeout. These are not cowboy operations. Companies like CoinSpot, Swyftx, Independent Reserve and BTC Markets have professional marketing teams, compliance-reviewed content and multi-channel acquisition strategies.

Digital maturity at 69.3 leads the pack, as expected for a natively digital category. But it is not as far ahead of the all-industry average as you might expect. The explanation: regulatory constraints limit the marketing tools available. Google restricts crypto advertising to licensed entities. Meta is even more restrictive. This pushes operators towards SEO, content marketing and community building rather than paid acquisition.

Brand and positioning at 65.9 is interesting. The sector has invested heavily in brand, partly out of necessity. After the trust destruction of 2022-2023, the surviving Australian exchanges needed to rebuild credibility. "Australian-owned", "AUSTRAC-registered", "funds held domestically" became brand messages as much as product features.

The retention challenge at 61.1 is structural. Crypto usage is cyclical. During bull markets, engagement is high and retention is easy. During bear markets, even the best products see declining active users. The operators winning on retention are the ones who have built utility beyond trading: staking, earn products, portfolio analytics, tax reporting and educational content.

A 27.8-point spread between Coinbase (AU) and Cointree. That's not one industry. That's two separate leagues operating under the same name. The leaders are playing chess. The challengers are still learning the rules.

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Frequently Asked

Where does your business sit in this picture?

Crypto & Web3 scores 65.2 on average. That's one number across 6 dimensions. Your number will be different, and the breakdown will tell you exactly where to invest and where to stop wasting money.