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8 Ways Brands can Benefit from NFT - Part 1 (3 Benefits)

You can say that an essential element of any good marketing approach is to offer meaningful experiences to followers and consumers beyond your brand's products or services. This helps you create communities and establish relationships, which turn into loyalty and support. It also increases customer lifetime. In contrast to traditional marketing, NFTs may not lead to immediate ROI. Still, they can play an essential part in supporting all the other efforts aimed at generating conversions and sales. The key here lies in understanding what customers want from a relationship with their favorite brands and how these companies can provide it. Here are some ways in which NFTs can help marketers achieve this goal:

1) They Can Help Companies Build Relationships With Customers that Are More Meaningful And Long-Lasting Than Traditional Marketing.

As mentioned above, one of the main goals for most businesses today is to build long-lasting relationships with customers and encourage them to become loyal advocates who promote their products or services. Many studies have been conducted over time on why people choose to remain loyal to certain brands rather than others; however, there has never really been consensus about what makes such bonds so strong. However, one thing that seems clear is that NFTs play an important role in creating lasting connections between companies and their fans. According to research published by Harvard Business Review, "companies that focus on delivering value through social interactions with customers see greater returns." Furthermore, "the more a business connects with its community members—by responding quickly to questions,

offering discounts, providing useful information,

etc.—the stronger the ties tend to grow."

The adjoining pic is on opensea its not yet up for sale but you can bid for it

2) They Allow Brands To Interact Directly With Their Followers On A Personal Level

One way in which NFTs differ from traditional marketing methods is because they allow companies to interact directly with their followers on a personal level. Unlike mass media advertising campaigns, NFTs enable organizations to engage with their audiences in real-time and deliver personalized messages based on individual preferences, interests, and needs. These communications are far less intrusive than typical ads since they don't interrupt consumers while browsing websites or watching videos online and seem much more natural to those receiving them. By establishing direct contact with customers, NFTs make it easier for firms to address issues or concerns raised by clients and resolve problems before they escalate.

NFTacoBellThe fast-food giant Taco Bell, known for their sometimes audacious digital marketing stunts, released 25 NFTs to mark the return of potatoes on the menu earlier this year. In less than 30 minutes, all NFTs had been claimed; one of them was sold for close to $3,646, and is now being resold for up to 10 ETH.

3) They Give Organizations An Opportunity To Create Memorable Experiences For Consumers

NFTs allow brands to create memorable experiences for their audience members. Unlike traditional marketing techniques that rely heavily on images and text to convey a message, NFTs often use interactive elements like games, quizzes, contests, polls, and surveys, among other things. Such activities require users to take action and interact with the content being shared, which creates engagement and encourages them to share the experience with friends and family. This means that NFTs can spread virally across social networks very quickly, which helps to increase visibility and reach new audiences. In addition, the nature of these tactics allows brands to collect valuable data about consumer behavior and opinions.

To be continued in the second part - LINK

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