Although NFTs are not a panacea, they do add another approach to the pool of communication options. Before brand managers consider NFT campaigns, they should carefully examine the opportunities. Also, whether these fit into your strategy:
Clarify the setting
Before planning begins, technical and accounting aspects must be considered. Not every company owns a cryptocurrency and can create their own wallet. In the absence of this option, trustworthy service providers may be required to support these parts.
Find partners
Closed communities often operate around cryptocurrencies and NFTs, including many gamers, IT professionals, investors, art enthusiasts, and collectors. It is not easy for companies and commercial campaigns to find the right entry point. This is why strong partners are needed to open doors: In addition to service providers that support NFT auctions, for example, NFT newcomers also need adequate implementation partners for press and website support. Important to know: Web3, the Metaverse’s web environment, is very different from the usual web concepts. Therefore, the search for specialized partners is worth it.
This also applies to collaborations with actors already active in the Metaverse – for example artists who deal in digital art. Krypto Art Collection ART2PEOPLE has a Mercedes-Benz G Class They are interpreted in digital motifs that are presented as NFTs. Absolut Vodka has organized a public exhibition of digital artwork for The Absolut Art of Togetherness campaign. At the same time, the works can be seen all over the world as NFT art on the Internet. Game interfaces, fashion or brand partnerships also attract new horizons: so start Gucci and SuperplasticLtd., a producer of VIP and NFT collectibles, collaborates on a series of NFTs in a range of handmade ceramic sculptures.
Take criticism seriously
The global gaming industry and Gen Z representatives seem to have a lot of faith in cryptocurrencies and NFTs – but there are also many opponents. It is therefore important for businesses and brands to check if NFT campaigns fit into their strategy and communication. When carrying out such a campaign, companies are generally advised to conduct a crisis watch and develop contingency plans including FAQs.
Once the aforementioned obstacles have been overcome, the most creative work begins.
Determine the focus of the campaign
Should the campaign deepen customer loyalty, boost the sale of digital products or brands? Who do we have in mind: branded target groups or new target groups? Anyone offering loyalty and rewards programs or other benefits in the Metaverse, for example, could take a new approach to customer loyalty. Depending on the goal, the campaign can then be directed in the direction of awareness or commitment.
Find and set up distribution channels
Where should the campaign take place, where to find the right resonance and which target group is using which platform? Channels like Facebook, Pinterest or YouTube play a secondary 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 accept the NFT support functionality. And on Twitter there is a critical audience. Discord or Telegram is more important for NFTs – because that’s where the community navigates. Email marketing or other traditional channels may also be suitable. One thing is certain: different goals require different channel strategies.
Prepare for tomorrow
The NFT market also reacts sensitively to world crises such as the current one. But anyone who sees potential in NFTs should dismantle any reservations and experience the opportunities now to generate learning. When the next wave comes you are in good shape and can paddle straight to it.