The sky really is the limit when it comes to utilising NFTs in the marketing strategy for your brand. Just a few of their fantastic uses include:
Brand awareness
When you’re an early adopter in the world of Web3 and, more specifically, NFTs, you can achieve a huge amount of exposure over your competitors who hesitated to do so. As long as your project is supported by a strong NFT marketing strategy, your brand awareness is going to be catapulted to somewhere it’s never been before.
And you know how Uncle Ben once said to Spider-Man “With great power comes great responsibility”? Well, this is kinda same-same but different: with a greater number of people who are aware of your brand comes a greater amount of sales.
Social media growth
When you’re planning to drop a collection of NFTs, social media marketing is an essential piece of the campaign puzzle. But you can also use NFTs as a tool to increase the number of followers you have, too.
For example, you might think about running a promotion for your followers, through which one or two lucky winners receive their very own NFTs (or early access to the drop, at least).
You can also use your social channels to provide updates about your project and keep them engaged throughout the creation/minting/listing phases, so they’re fully engaged by the time it does drop.
A carefully-created social media marketing strategy supporting your NFT collection can most definitely generate increased brand engagement and develop a true sense of community.
Better customer experience
One of the major marketing goals for brands is to personalise each customer’s experience as much as possible.
Enhancing your marketing strategy with NFTs enables you to continue telling the story of your brand via an additional channel. This is a great way to increase your brand’s equity through a better, more fluid customer experience.
But be sure to maintain a consistent tone and feel across each of the channels within your marketing mix, or it can end up feeling very fractured and actually lead to a negative experience.
Exclusive promotions
Numerous companies are already utilising NFTs to provide their customers who buy them the opportunity to access pre-launch products and exclusive content.
There are also brands and musicians who have realised they can be used as digital tickets, enabling the owners to attend both virtual and real-world concerts and events.
When you’ve got a massive launch coming up – whether for a product, some hot content or something else – developing an NFT collection that offers buyers first access is a fantastic way to support the launch and develop a huge buzz around it.
Additionally, you’ll know that the people who purchase one (or more) are your most loyal customers – which can be highly useful when it’s time to start in the influencer marketing space.
Increasing loyalty
If you run a business, you know how important repeat business is – which is why loyalty is such an integral part of every marketing approach. And NFTs can be wonderfully useful to increase customer loyalty.
Like, for example, giving away branded NFTs for certain products at the point of sale which unlocks access to things like:
- Competitions for members
- Pre-launch products
- Special offers and discounts
- Certain private communities like Discord
- Exclusive content/events
Capital raising
Prior to the existence of NFTs, those who were in need of capital to help grow their business often used crowdfunding websites. And although yes, they’re still one way to go about raising capital, the groundbreaking new way to do it is through an NFT collection.
You might think that it’s just startups that are turning to NFTs, but that couldn’t be further from the truth! In fact, there are a lot of accomplished companies choosing to go the more effective NFT route these days as well.
Generally, the most effective approach to raising capital with an NFT drop is to create a number of NFTs and list them as auction sales. The listing should include information such as how the funds are planned to be used, as well as (if anything) what the buyer will get – in either the virtual or real world.
