How should a brand use NTFs in its marketing strategy?

2022 is the year of NFTs. What for the last few years has been a growing trend in some parts of the world, today is the beginning of a new reality for thousands of brands, not just luxury brands. Little by little, the NFT marketing is a must for all class of brands in the world.

One of the great challenges that the spread of NFTs still faces is the struggle of people to understand their value; Currently almost everything related to Blockchain technology remains a mystery to many people.

Although there is still a wide berth around the value of NFTs, and interest in them has seen exponential growth; NFTs are much more than a fad, and gradually the global community and new generations are integrating platforms outside the traditional web, such as Discord. Clearly, NFTs signify a door to long-term development for all brands and their importance to new digital consumers.

The opening to the public began with digital collectibles, and to date the first approach of several brands to NFTs has been from the launch of their own collections, such as Campbell’s, Taco Bell, Coca Cola, etc. However, the integration of the NFT marketing goes far beyond that first approach.

Of course, the integration of NTFs into marketing strategies and their chances of success depend at many levels on the sector and the market niche for each brand, for many of them the transition is a logical step, for others it is just a matter of creativity.

A successful example of the integration of NFTs into the marketing strategies of a brand, is the recent line of virtual accessories that Adidas has created for the Bored Ape Yacht Club characters or the acquisition of the digital sneaker agency NFT by Nike.

NFT Marketing is committed to experiences.

Although collecting is the elementary expression of how NFTs could interact with company marketing, the diversity of NFT applications goes beyond simple digital art, and has the ability to offer personalized experiences beyond of collecting.

The objective of an NFT marketing strategy is to transcend to new scenarios and achieve presence and engagement in new generations of consumers, granting exclusive experiences or assets that certify the closeness of a brand with its fans. As exclusive access to certain events.

The value of NFTs for a marketing campaign is not necessarily associated with their scarcity. One way to demonstrate this is by turning old real-world resources into NFT applications, such as purchase certificates, or NFT coupons.

How to integrate NFTs into a Marketing strategy?

Some elementary aspects to consider for the management of NFT marketing strategies in a brand are:

• Start with NFT collectibles: As the first step to launch of NFT in a brand, the collectibles are a resource that allows to know a little more in depth the behavior of the public and its interaction with the Non-Fungible Tokens. It is important to design a balance between availability and rarity, which allows maintaining a good level of attention from the public.
• Use the flagship product: Before experimenting with new launches, associate the iconic product and the brand identity with an NFT collection, It is basic to make it easier for the public to identify with it.
• Experiment with strategy: The balance between experimentation and strategy is essential in creating an NFT marketing campaign for a brand. Although Web 3.0 is essentially uncharted territory for most brands, having a clear goal and tactical lines will help make experimentation a successful move.

The potential of NFTs is still a little explored area, but it has a long way to go, and brands have many things going for them in exploring all these possibilities. At Blue Manakin we have extensive experience in integrating NFT Marketing strategies with different brands and companies.