While NFTs are not a panacea, they add another approach to the pool of communication options. Before considering NFT campaigns, brand managers should carefully research the opportunities. And also whether they fit into your strategy:
Before planning begins, the technical and accounting aspects must be taken into account. Not every company owns cryptocurrency and can set up its own wallet. Where this option does not exist, reliable service providers may be required to support these components.
Closed communities often operate around crypto and NFTs, including many gamers, IT specialists, investors, art enthusiasts, and collectors. For companies and commercial campaigns it is not so easy to find the right entry point. That is why strong partners are needed to open the doors: in addition to service providers that support NFT auctions, for example, NFT newcomers also need suitable implementation partners for press and website support. Important to know: Web3, the web environment of the Metaverse, differs greatly from the usual web concepts. The search for specialized partners therefore pays off.
This also applies to collaboration with actors who are already active in the Metaverse – for example, artists who deal in digital art. The crypto art collective ART2PEOPLE has interpreted the G-Class in digital motifs for Mercedes Benz, which are offered as NFTs. Absolut Vodka organized a public exhibition of digital artworks for The Absolut Art of Togetherness campaign. At the same time, the works could be seen worldwide as NFT art on the internet. Interfaces with gaming, fashion or partnerships between two brands also appeal to new prospects: Gucci and Superplastic, producers 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 great faith in cryptocurrency and NFTs, but there are also many detractors. It is therefore important for companies and brands to check whether NFT campaigns fit their own strategy and communication. When conducting such a campaign, companies generally do well to carry out crisis monitoring and draw up contingency plans including FAQs.
Once the aforementioned hurdles are overcome, the more creative work begins.
Determine campaign focus
Should the campaign deepen customer loyalty, boost digital product sales or branding? Who are we targeting: brand-specific 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 of customer loyalty. Depending on the objective, a campaign can then be steered in the direction of awareness or commitment.
Finding and setting up distribution channels
Where should the campaign be played, where will it find the right resonance and which target group uses which platform? Channels like Facebook, Pinterest or YouTube play a more subordinate role, as they are often restricted by advertising law when it comes to cryptocurrency. In the case of Instagram, it remains to be seen how well users will accept the NFT support feature. And on Twitter, there is a critical audience. Discord or Telegram are more important to NFTs – because this is where the community is moving. Email marketing or other more traditional channels may also be appropriate. One thing is certain: different objectives call for different channel strategies.
Get ready for tomorrow today
The NFT market also reacts sensitively to world crises such as the current one. But anyone who sees potential in NFTs should break through any reservations and try opportunities now to generate lessons. When the next wave comes, you’ll be in shape and ready to paddle right up to it.