Should Your Company Launch an NFT?

by | Sep 29, 2022 | News | 0 comments

As well-known brands such as Clinique, Gucci, and Nike get involved with NFTs, astute marketers have begun to pay attention. NFTs are seen as an opportunity by forward-thinking brands to extend the customer experience into a more digitally focused realm.

How NFTs Create a New Channel for Customer Experience

NFTs are one-of-a-kind digital assets that can be anything from a work of art to a movie ticket. Consumers can prove ownership of NFTs using the blockchain, a public transaction ledger.

Marketers can use NFTs in various ways to enhance the customer experience in novel and exciting ways. Marketers can use NFTs to provide unique digital items to new or existing customers. The digital item could be a “twin” of a physical product or an entirely digital asset that is distinctively and intriguingly branded.

One other strategic approach marketers can use is NFTs as a membership pass for connectivity and benefits. When used in this manner, NFTs can be an excellent complement to rewards programs, fostering a stronger sense of community and customer loyalty. Starbucks recently confirmed that they are looking into ways to use NFTs to create a group of coffee drinkers.

How to Make a Plan for a Successful NFT Launch

  • What does the brand’s objectives in participating in NFTs? Is the brand hoping to attract attention as a first-mover, generate new revenue through NFT sales, or increase customer loyalty?
  • How might NFTs supplement current marketing strategies? NFTs, like any other channel, should be included in the overall marketing mix.
  • How does the marketing team have executive endorsement deals and business leaders’ support? NFT launches can take a long time, and critical organizational stakeholders must be aligned with the NFT launch’s goals and direction.
  • Is the marketing team fully conscious of the expertise required to help the launch, such as talented individuals, developers, and a community manager who can generate support and excitement for the launch?
  • Is there a trustworthy strategy and technology partner on the marketing team who can help spot and avoid pitfalls and unnecessary expenses along the way?

Final Words

Businesses that invest now in recognizing the technology will have a considerable advantage later on as businesses discover new methods for monetizing and collaborating with NFTs.


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