While NFTs are not a panacea, they add another approach to the pool of communication options. Before brand managers consider NFT campaigns, they should carefully research the options. And also whether these fit into your strategy:
Before planning begins, the technical and accounting aspects must be taken into account. Not every company owns cryptocurrency and can create its own wallet. Where this option does not exist, credible service providers may be required to support these parts.
Closed communities often operate around crypto and NFTs, including many gamers, IT specialists, investors, art lovers and collectors. It is not so easy for companies and commercial campaigns to find the right entry point. Therefore, strong partners are needed to open the doors: In addition to service providers that support, for example, NFT auctions, NFT newcomers also need suitable implementation partners for press and website support. Important to know: Web3, the web environment of Metaverse, is very different from the usual web concepts. It is therefore worthwhile to search for specialized partners.
This also applies to collaboration with actors who are already active in the Metaverse – for example, artists who work with digital art. Crypto art collective ART2PEOPLE has interpreted the G-Class in digital motifs for Mercedes Benz, offered as NFTs. Absolut Vodka organized a public exhibition of digital artwork for the Absolut Art of Togetherness campaign. At the same time, the works could be seen worldwide as NFT art on the Internet. Interfaces for gaming, fashion or partnerships between two brands also appeal to new perspectives: Gucci and Superplastic, manufacturers of VIP and NFT collectibles, jointly launched a series of NFTs for a collection of handmade ceramic sculptures.
take criticism seriously
The global gaming industry and Gen Z representatives still seem to have a lot of faith in cryptocurrency and NFTs – but there are also many naysayers. It is therefore important for companies and brands to check whether NFT campaigns fit their own strategy and communication. When companies implement such a campaign, it is generally well advised to carry out crisis monitoring and prepare contingency plans, including frequently asked questions.
Once the mentioned obstacles are overcome, the more creative work begins.
Determine the focus of the campaign
Should the campaign deepen customer loyalty, strengthen sales of digital products or branding? Who do we have in mind: brand-affine target groups or new target groups? For example, anyone who offers loyalty and bonus programs or other benefits in the Metaverse can take a new path with customer loyalty. Depending on the goal, a campaign can then be steered towards attention or engagement.
Find and set up distribution channels
Where will the campaign be played, where will it find the right resonance and which target group will use which platform? Channels such as Facebook, Pinterest or YouTube play a more secondary role as they are often restricted by advertising laws when it comes to cryptocurrency. In the case of Instagram, it remains to be seen how well users accept the NFT support feature. And on Twitter there is a critical audience. Discord or Telegram is more important for NFTs – because that’s where the community is on the go. Email marketing or other, more traditional channels may also be appropriate. One thing is certain: different goals require different channel strategies.
Get ready for tomorrow today
The NFT market also reacts sensitively to world crises like the current one. But anyone who sees potential in NFTs should break down any reservations and test opportunities now to generate learning. When the next wave comes, you are in good shape and can paddle straight to it.