{"id":9850,"date":"2022-02-04T17:53:06","date_gmt":"2022-02-04T17:53:06","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/04\/4-key-strategies-for-nft-brand-launches\/"},"modified":"2022-02-04T17:53:06","modified_gmt":"2022-02-04T17:53:06","slug":"4-key-strategies-for-nft-brand-launches","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/04\/4-key-strategies-for-nft-brand-launches\/","title":{"rendered":"4 key strategies for NFT brand launches"},"content":{"rendered":"

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Marketers understand the value in implementing new technology like non-fungible tokens (NFTs) to launch campaigns, especially to pull in younger audiences. But there are also risks to venturing out in uncharted waters. They have to know what they\u2019re doing, and with NFTs the game plan isn\u2019t well-known.<\/p>\n

NFTs using blockchain technology have caught fire in the last year, inspiring big brands like Taco Bell and Burger King<\/a>.<\/p>\n

Read more: How marketers will use blockchain technology and NFTs in 2022<\/em><\/strong><\/a><\/p>\n

Luxury brand Balmain recently teamed up with Mattel\u2019s iconic Barbie to promote a new clothing line and to auction off Balmain x Barbie NFTs<\/a>.<\/p>\n

The tech partner behind these NFTs is L.A.-based studio MintNFT, and their founder and CEO James Sun recently shared his playbook for marketers looking to get in on these digital collectibles.<\/p>\n

Sun has experience in software engineering, CRM implementation and data-driven marketing at such companies as Intel and Deloitte. He outlined four strategies that every marketer should develop when they put together an NFT brand initiative.<\/p>\n

According to Sun, marketers need to firm up their goals, develop the right creative look and decide on the right technology for their NFT drop. They also need to think about any longer-term plans for the life of their NFTs, and shore those up ahead of time.<\/p>\n

Determine goals for your brand\u2019s NFT campaign<\/h2>\n

\u201cMarketers have to think about goals first,\u201d said Sun. \u201cDo they expect the NFT to drive revenue? Are they bringing market awareness to a new audience?\u201d<\/p>\n

The goals for the NFT initiative also have to be tied to what the brand knows about their customers. Marketers have to be precise about the audience they intend to reach and make sure the technology fits the customers they intend to serve.<\/p>\n

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For instance, if the campaign is tied to a gaming environment like Roblox, will their customers follow them there, or will they lose some or most of their audience?<\/p>\n

Marketers need to weigh this audience engagement and experience against goals they think will be a benefit from their NFT, like impressing consumers with the \u201ccool factor\u201d of using new technology.<\/p>\n

Create a message around the NFT and make it visual<\/h2>\n

\u201cNext, what is that creative branding and messaging for the campaign going to look like?\u201d Sun asked. \u201cBecause NFTs are visual by nature, what kind of campaign will it be?\u201d<\/p>\n

NFTs can help introduce a new logo, or a new product launch, said Sun.<\/p>\n

In the case of the Balmain x Barbie Limited Edition, the NFTs incorporated visual elements from high fashion and the iconic toy line. This made the NFT campaign playful, especially in its use of pink clothing items, both in the characters depicted in the NFTs, and modeled in the clothing line for actual items that customers could buy.<\/p>\n

Partnerships are an important element in the campaign message, and it doesn\u2019t just have to be two brands like Balmain and Mattel. Marketers can also consider teaming up with nonprofits or individual artists to add another dimension to the campaign. Last year, San Francisco\u2019s Aquarium of the Bay launched NFTs<\/a> that attracted bidders interested in supporting sea life and the environment, for instance.<\/p>\n

Select the right technology partner<\/h2>\n

Marketers need to select a blockchain partner that is easy for customers to use, especially since adoption of NFTs is still gaining.<\/p>\n

\u201cWhat I saw when NFTs were gaining popularity in the art community and cryptocurrencies was an interesting use case for large brands,\u201d Sun explained. \u201cThey had the ability to get to the masses, and NFTs had a very interesting property called ownership. However you define ownership, your name and wallet are attached to that piece of blockchain forever.\u201d<\/p>\n

He added, \u201cMost of the Internet doesn\u2019t provide that today. This makes NFTs a cool tool for brands.\u201d<\/p>\n

With this in mind, marketers need to select a brand-friendly partner.<\/p>\n

\u201cYou have to find a platform that is very brand friendly and also is easy for the brand\u2019s customers to use and engage with,\u201d Sun said.<\/p>\n

Decide what happens after the NFT debuts<\/h2>\n

Make sure you decide what happens after the NFT, but make up your mind ahead of time through careful planning.<\/p>\n

\u201cDecide what happens in terms of customers using the NFT,\u201d said Sun. \u201cIs this for a loyalty program? Is it a metaverse play?\u201d<\/p>\n

The next engagement could be another NFT, or it could live on in a virtual environment.<\/p>\n

\u201cYou could use the technology by adding an interesting utility when it goes into Fortnite,\u201d Sun suggested. For instance, the owner of the NFT could show it off with an extra power in the game. It could make a player fly, as an example.<\/p>\n

\u201cThe NFT scene is so nascent \u2013 some brands dipped their toes in, and some succeeded and some didn\u2019t,\u201d Sun said. \u201cI believe that a holistic way is looking at the NFT, and, before creative is finalized, consider what the NFT and the brand will do after the launch.\u201d<\/p>\n

He added, \u201cLaunching NFT campaigns through collaborations with artists and other brands has the potential to engage consumers in a deeper, stickier way. It gives them a sense of ownership of the brand and can turn all these fans into more mature customers of the brand.\u201d<\/p>\n\n

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