Last year, NFTs took the world by storm as enthusiasts, celebrities, and brands rushed in to capture a wave of interest around these curious digital collectibles. In 2022, NFTs have evolved to become much more than expensive JPGs. As the technology and use cases shift, brands and their marketing teams have a unique opportunity to utilize NFTs for customer engagement, acquire new audiences, and foster customer loyalty. But for many of these organizations, the question remains: how?
Simple and cost-effective approaches are needed to attract new audiences and drive meaningful engagement, but increasingly strict data privacy regulations and rising ad costs are making it more difficult for brands to create deep customer relationships. NFTs can help marketers overcome this hurdle by providing a powerful tool to foster customer loyalty through perks and rewards. Instead of relying on data sourced from ad platforms, marketers can offer NFT holders direct value while building strong customer relationships and gleaning meaningful insights.
Unlike a traditional loyalty program, an NFT provides a deeper brand connection by allowing customers to own a part of their favorite brands. This sense of ownership combined with engaging rewards can turn ordinary customers into a community of superfans and brand evangelists.
While many brands know that Web3 will impact their marketing strategy, a lack of NFT development skills puts brands at risk of being left behind by this exciting opportunity. Getting involved in Web3 requires skills that may be new territory for many marketing teams, like blockchain development, community growth, and partnership marketing.
It can be difficult for marketers to secure buy-in from their stakeholders to move forward with a Web3 project since it is an emerging technology in the early stages of adoption. Brands that aren’t ready to launch an NFT collection can still enter the world of Web3 through collaborations with existing NFT collections. These collaborations typically consist of creative perks and rewards for NFT collectors and offer a more manageable entry path into Web3. These collector audiences, with a wide variety of interests, can be excellent targets for brands entering the Web3 space.
PolyientX Platform Solution Overview
The PolyientX platform is the first self-service technology to help brands deliver perks and delight fans and customers through exciting NFT rewards. The no-code toolkit makes it easy for brands to create engaging rewards for NFT holders and allows marketers to target any NFT collection with perks and rewards.
Using the PolyientX platform, creators and brands can publish available perks to a white-labeled claim page to serve as a home base with a streamlined claiming experience for community rewards.
The platform’s expanding library of reward types includes physical merchandise, digital downloads, coupon codes, event passes, gated content, reward tokens, NFTs, and more. PolyientX provides everything needed to create a compelling NFT-based loyalty and rewards program.
In the last year, NFTs sky-rocketed in popularity as creators and brands generated millions in sales. Amidst a rising tide of interest, several major brands are exploring ways to use NFTs to create more engaging and rewarding products and community experiences. PolyientX allows brands across various industries to create real value and engagement for their customers by diving into the world of Web3 in a meaningful way.”Brad Robertson, founder/CEO of PolyientX
Marketers can use the platform to engage with Web3 audiences today.
NFT Rewards Best Practices
The PolyientX platform can help marketers navigate the process of launching NFTs that provide real rewards and perks to their customers. Some best practices for brands to keep in mind when doing this include:
- Prioritizing a smooth customer experience is the cornerstone of any successful Web3 rewards program. Brands that treat NFT holders as the top tier of their community can foster the growth of super evangelists (micro-influencer customers who go above and beyond to spread the word about a brand).
- NFT holders expect rewards to connect to the brand’s identity and roadmap. It’s crucial to ensure that an NFT reward connects to tangible value, like exclusive access to products and experiences. Brands should lean into their core strengths and avoid generic perks that don’t drive deeper customer engagement.
- A tiered reward approach can help marketers use NFTs to segment customers based on behavior. Non-cash rewards with high perceived value, like exclusive access and participation, can be a great way to balance the cost of an NFT rewards program.