NFTs may be one of the most talked-about trends happening on social media, although until now, NFTs haven’t featured much within social media.
But that’s set to change – and with that change, a new set of challenges (and opportunities) for brands with ambassador programs.
NFTs have gone beyond just being a new digital trend and have transformed into a commodity that has actual value. Many big name brands, from Charmin to Taco Bell, have utilized NFTs in their marketing campaigns, innovating by incorporating them into their respective campaigns. Taco Bell sold NFT Taco GIFs, a newspaper column sold for hundreds of thousands of dollars, and Pringles unveiled a “CryptoCrisp” flavor—with NFTs, the possibility for marketing is virtually endless.
NFT Integrations on Social Media
Over the first half of 2022, Twitter, Instagram and TikTok have all announced NFT integrations into their platforms, offering creators a unique opportunity to further monetize their content *outside* of brand partnerships and more traditional avenues.
It’s an exciting time for brands and creators.
Creator Content Monetization
According to Influencer Marketing Hub, over 75% of creators rely on brand sponsorships as their main revenue source, whereas only around 5% depend on ad revenues, all of which has lead creators to explore other avenues for monetizing their efforts.
While the sale of non-fungible tokens (NFTs) has surged and stabilized over the last year and falling again this month, many companies are treating these blockchain-powered digital assets as marketing tactics instead of investments.
The more you know about your customers, especially your most intense customers, the more you sharpen your competitive edge. And only NFTs can provide that level of precise data about your most engaged consumers. – Newsweek
Johnnie Walker’s $35,000 NFT + Exclusive Experience
Diageo-owned Johnnie Walker teamed up with Block Bar to offer seven bottles from its rare Masters of Flavor series as NFTs, plus digital artwork created by graphic artist Boss Logic and a unique BTS experience at the distillery — all for the tidy sum of $35,000.
Each NFT provides the buyer with the chance to visit the Johnnie Walker experience in Edinburgh. The experience will include a stay at the Gleneagles townhouse and a tour of the Glenkinchie Distillery and the Diageo Archive, along with a VIP tasting of rare whiskies from the Diageo collection.
For marketers with sparkles in their eyes for the possibilities of NFTs in support of their brand ambassador programs, we’ll discuss some strategies (and tools) to consider.
NFTs Support and Amplify Brand Community
For all its high-dollar price tag, the Johnnie Walker NFT example above provides a blueprint for how brands can leverage amateur creators-turned-brand-ambassadors in creating unique and memorable exclusive experiences.
In this sense, NFTs are collectable art and event access combined into a single digital product.
For the consumer, the value in buying an NFT co-created by a brand and a creator isn’t accrued at the end of the purchase. Rather, there’s a whole string of benefits attached to ownership, with ticketing and discounts being two of the most obvious use cases.
Remember the Golden Tickets tucked into Willy Wonka’s chocolate bars in “Charlie & the Chocolate Factory?”
Used in this way, NFTs are simply reimagined Golden Tickets for the Metaverse.
Instagram’s support of NFT creators and collectors is ushering in new waves of opportunities for brands and creators alike.
Using NFTs with Amateur Creators
Some of the potential applications for NFTs in ambassador programs are:
- Ambassadors and amateur creators in partnership with brands will soon be able to promote NFTs in Posts, Reels and Stories.
- Brands utilizing creator management tools like SocialLadder can assign challenges and tasks for these ambassadors, much like any other posting assignment.
- For brands leaning into NFTs and other blockchain powered digital collectibles as part of their marketing efforts, these new “rewards” can be loaded into a reward and points system already being utilized to reward and incentivize ambassadors to complete tasks and challenges.