While companies like Bored Apes and Pudgy Penguins are making headlines, and the potential for decentralized finance (DeFi) and gambling is undeniably large and exciting, the marketing potential of non-fungible tokens (NFTs) deserves no less attention. It boils down to this: almost anything can be played with NFTs to achieve the desired marketing results.
Gamification, as defined by Gabe Zichermann, author of The Gamification Revolution, as “the process of using game thinking and game dynamics to engage audiences and solve problems,” is nothing new to sales and marketing. What’s new is the mechanisms you can use to attract and motivate potential customers and clients. And my God, they are breathtaking. To illustrate this, here are five use cases for NFTs for marketers.
Joint marketing for market segments
Let’s say you’re one of the approximately 40 million people in the United States who move every year. As a “newcomer”, you are in demand with a number of brands that want to meet your very predictable needs.
Previously, if Sherwin Williams (paint), Simplisafe (home security), Spectrum (cable), Stanley Black & Decker (hardware), Sony (electronics) and Pottery Barn (furniture) wanted to merge to sell you when you’re big need, it would be virtually impossible. Ultimately, different internal systems, constant indecision in data exchange, different market structure and design of loyalty programs, duplication of distribution points and other obstacles always create an insurmountable gravel.
Now imagine that these brands are teaming up to make Move Me NFT or something like that. Consumers who buy them will generate revenue for all participating brands and put our New Mover in a virtual community where they can travel around the neighborhood, attend a Metaverse housewarming party with a celebrity, attend to win digital real estate, hang up. their digital art and of course find out how each brand’s products / services can help them along with an “exclusive and generous” discount.
In addition, you can offer our ultra-observant consumers rewards in Bitcoin (BTC), Ether (ETH) or other coins as an incentive to buy from two or more Move Me brands funded by an NFT revenue pool or relative scale membership fees. .
Name your segment: the possibilities are almost endless.
Related: Why are major global brands experimenting with NTAs in Metaverse?
Brand loyalty marketing
Let’s say you represent a brand that has a portfolio of multiple consumer products (CPG), such as diapers, detergents, oral care products, over-the-counter drugs and skin care products. Your goal: to create a mechanism to reward customers for purchases in your portfolio as often as possible.
Most attempts to do something similar in the past have been colossal failures. The combination of a cumbersome purchase confirmation mechanism and the lack of a cross-currency to really motivate behavior made the effort worthwhile.
But what if your customers could create a My [insert brand name] wallet and connect it to their store cards, such as the MVP Food Lion program, Kroger Plus or CVS ExtraCare. The purchase confirmation can now be simple for all brands. Armed with transaction data and a broader customer profile, all participating brands can send NFT rewards (such as an offer to add their newborn image to collectibles), metaverse experiences and even currency. Even the dealer can take part in the action.
While it can traditionally be overwhelming to return small amounts of fiat currency or dollar discounts on future purchases, adding cryptocurrencies with its fungability and potential for accumulating value can be a real game-changer. . Think about perception of value.
Related: The largest consumer brands operating in crypto in 2021
Imagine: you are sitting at home at the computer in Manchester dreaming of a trip to Manhattan. So you take a virtual tour of the city’s iconic sites, as well as visit certain shops, restaurants, clubs, theaters and more that are sold on the tour in an attempt to get you to add them to your itinerary.
When you visit each destination, you can collect NFTs that can serve as digital souvenirs to increase the excitement of your journey, while giving you priority access, unique experiences, special offers and more.