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Using NFT to Unleash Your Brand’s Digital Marketing Potential

Do you remember when collecting and trading baseball cards was considered the trendiest thing? Today, NFTs, or non-fungible tokens, have mostly supplanted those prized baseball cards and other memorabilia. Tokens are digital pieces of property (assets) that can be purchased and traded. In that regard, they are similar to other collecting items.

However, what separates NFTs from other collectibles is that each one is unique and non-transferable. The token referred to by the term is a digital certificate of ownership. Tokens are kept track of on a digital record known as the blockchain. Depending on the contract specifics, this technology allows NFT developers to get royalties every time a token is resold.

What is a Non-Fungible Token (NFT)?

NFT is an abbreviation for non-fungible tokens. It’s constructed using the same code as cryptocurrencies, such as Bitcoin or Ethereum, but that’s where the similarities end.

Physical currency and cryptocurrencies are both “fungible,” which means they may be traded or swapped for one another. They’re also worth the same amount—one dollar is always worth another dollar and one Bitcoin is always worth another Bitcoin. The fungibility of cryptocurrency gives it a reliable method of executing blockchain transactions.

NFTs are distinct. Each contains a digital signature that prevents NFTs from being swapped for or equivalent to one another (hence, non-fungible). Because they’re both NFTs, the “One NBA Top Shot” clip isn’t the same as “Everydays”.

How to Market Non-Fungible Tokens?

Although NFTs are a unique asset, digital marketing to sell your NFT product follows the same criteria as any other digital-marketing procedure.

To be effective, you must first implement an excellent digital marketing strategy, outlining your marketing goals and charting a course to achieve them. In short, you must know the “NFT meaning” before jumping in the fray. It is difficult, if not impossible, to stand out from the NFT trading forums without a well-defined approach. While the platforms are relatively accessible, they get increasingly congested as NFTs gain popularity.

Most content producers want to create short-term sales and medium- to long-term consumer connections. Diversifying your approach will assist you in doing both.

Relationship Building

Even if you are investigating NFTs for the time being, do not underestimate the underlying blockchain technology’s potential. The blockchain enables you to grow your brand from a community foundation and establish a deeper, more direct interaction with your followers.

When deciding on marketing channels, keep in mind the importance of relationship development and the channel’s compatibility with your product and target demographic. These channels, in our experience, operate well with the majority of NFTs:

•         Advertising on social media
•         Display Advertising
•         Email Marketing
•         Public relations

Advertising on social media

Social media marketing (SMM) is a very focused method of communicating with potential clients and earning immediate NFT purchases.

You, as the inventor, retain control over the related expenditures. You may also use advanced analytics to see how effectively this aspect of your campaign is performing for you. When combined with organic social-media engagement, this strategy may help you expand your audience and develop a strong brand.

Display Advertising

Display advertising via channels such as Google Ads is another excellent approach to generating sales for your NFTs that are highly targeted and quantifiable.

You can regulate your marketing budget by tracking your cost per 1,000 impressions or cost per click. Furthermore, you can see how much each transaction costs you at a glance.

NFT can Combine display advertising with other marketing efforts such as search engine optimization, producing synergies that aid in delivering even better outcomes.

Email Marketing

Email marketing, like press releases, has been around for a long time. Leading marketers return to this channel because it produces results — and it can do the same for your NFTs.

Interesting Read: Why Email Marketing is the need of your business

Email helps artists and other creators to present their work to investors immediately. You can’t go much closer to someone than their email inbox. Email marketing is a fantastic tool for connection development and driving direct sales when done regularly.

Public relations

Public relations (PR) aids in promoting your NFT and the development of credibility for your brand and your NFT product. It may appear that posting or sending press releases is practically archaic. It is, however, a fantastic opportunity to engage with journalists and bloggers hunting for the next rising NFT trend.

PR enables you to reach out to your target audience and establish long-term relationships while boosting short-term purchases. It is a very low-cost marketing channel.

Example: The Will Smith “Slap” NFT

Using all the tools for relationship building mentioned above can turn practically anything into an NFT. This has been apparent with the minute-and-a-half footage – the moment actor Will Smith smacks comedian Chris Rock and their responses – into chosen screen captures with meme-friendly but stupid words.

It took less than a day for an NFT of Will Smith’s slap on Chris Rock at this year’s 94th Academy Awards ceremony to surface. The Will Smith Slap DOA has 721 owners on NFT marketplace OpenSea, earning $45k in one day, and it feels like a new low point for joke NFTs.

This has not happened the first time that digital marketers have successfully monetized an exciting in the online NFT market. It has been done before with the “Nyan Cat” meme. While they are famous for allowing artists to take control and be creative, NFTs can also be controversial. Some people doubt their worth and the influence they have on the environment.

The Advantages of NFT Marketing

There are several advantages to using NFTs in your digital marketing approach. You need to understand why implementing NFT-based methods might be your key to success, from grabbing the attention of a digitally engaged demographic to defending your brand image.

Reach a broader audience

If you want to expand your audience reach, adopting digital trends like the emergence of NFTs can put you on the right track.

The NFT market is rapidly expanding, with 15,000-50,000 NFT sales each day. This is especially true among younger, digitally native customers. Brands that wish to reach new audiences who would not come across their product/service outside of the digital sphere can utilize NFT marketing to attract a variety of consumers who can give heritage brands new life.

Increase Brand Awareness

Did you realize that Non-Fungible tokens (NFTs) have been seen over 5.9 billion times on TikTok alone, and that figure is rapidly increasing?

If you want to enhance brand exposure and your chances of going viral, it’s time to ‘get down with the kids and start incorporating new technology trends into your marketing approach.

Pizza Hut adopted the NFT method to advertise its new pizza flavors. Pizza Hut Canada recently launched its “One Byte Favorites’ promotion,” where consumers could get an NFT for the price of one piece of pizza. The campaign aided in promoting their four new flavors and raised brand awareness among a digital audience.

Interesting Read: The Importance of Branding In 2022

Send personalized messages

Including NFTs in your marketing plan is a simple method to provide a one-of-a-kind consumer experience. In a new campaign, NFTs can represent various creative elements like art, music, and video. They have the potential to increase contact and engagement with your brand.

Even better, savvy marketers may employ NFT tokens to offer personalized messages to specific audiences.

Marketers may now pick from various social platforms depending on how they want to publicize their concept release. The metaverse may be used for NFT marketing, with particular platforms speaking directly to their intended populations.

How to Incorporate an NFT into Your Branding Strategy

You’ve come to the perfect spot if you want to include an NFT in your next marketing campaign. From the first stages of preparation until the creation of the ideal message. Here are some crucial measures to remember before getting crypto crazy with your approach.

Believe in your consumer insights.

Is your intended audience aware of what an NFT is? Is it probable that they will engage with your campaign? These are the first two things you should ask yourself before launching an NFT marketing campaign.

If you want to be successful, you must trust your consumer insights. Analytic solutions like Google Analytics may help measure audience behavior and interaction with the material you want to promote. Marketers must be well-versed in their target audience. Then they can ensure that the technology is appropriate for the clients they want to serve.

If you want to advertise your brand on the emerging metaverse, you need to catch on the bandwagon by starting NFT campaigning. Just make sure that the demographics are visible in the emerging trends.

Choose the ideal match.

It’s all about usability when it comes to marketing to the masses. If you want a big audience to participate with your NFT, you must make it accessible to newcomers and long-time NFT users.

Marketers must work with user-friendly blockchain partners and be broadly available on various devices.

The first blockchain partner to assist NFT’s expanding popularity was Ethereum, an excellent option for teamwork. Ethereum’s safe and decentralized technology is well-known globally, and crypto enthusiasts rely on it. It’s also an excellent place to start for newcomers.

Pick Your Audience

While NFTs are a visual asset and a type of creative branding, they, like all campaigns, must communicate with their target audience. Do you want to advertise a new product or exhibit your brand’s values? Your NFT campaign must include a company message.

Choosing the correct partner can also impact the campaign’s message. To enrich the message, they attempt to convey it to their audience. Savvy marketers should explore collaborating with non-profits. In the internet world, crypto enthusiasts rely on it. It’s also an excellent place to start for newcomers.

NFTs in the Fashion Industry

The largest luxury fashion firms are upending the rules and recreating fashion in the internet age by using digital marketing techniques. Big brands have invested in NFT in quest of creativity and ongoing innovation. Non-fungible tokens in fashion and luxury can take many forms, including digital doubles, rare digital assets in a metaverse, and even digital collections.

NFTs provide the fashion and luxury industries with the chance to combat counterfeits by providing exceptional items.

Gucci, the Italian fashion house, released a virtual replica of their Virtual25 sneakers in March 2020. A little more than a year later, Nike followed on the bandwagon, auctioning off wholly fictitious footwear. Dolce & Gabbana recently offered him 6.6 million euros for an NFT line of nine clothing and jewels.

NFT: the future of marketing?

NFTs are becoming increasingly popular in the internet world. Marketers must begin incorporating new technical breakthroughs into their tactics. The modern customer is more engaged than ever. If brands desire consumer retention, they must stay on-trend.

In terms of marketing’s future, it’s apparent that digital is the only way to go. Campaigners should brace themselves for major digital shifts in the aftermath of a pandemic. Today is NFTs, but tomorrow will be something else.

Putting It All Together

Finding the right agency partner requires time and effort. However, the more thorough your search, the more likely you have made the correct option. Do your research and ask the right questions to guarantee you’re making the most outstanding investment possible for your company.

Interesting Read: Choosing the Best Marketing Agency for Your Business

Go to the Silver Ant Marketing website, where you will find a network of highly qualified marketing professionals willing to help you in the next chapter of your company’s development. We promise that you will receive an excellent value for the price of our services. [/vc_column_text][/vc_column][/vc_row]