NFTs Can Help Your Business Reach New Customers And Grow Your Brand

In this episode, we will join Brad Friedman and Chris Madden as they chat about digital marketing, NFTs, cryptocurrency, and how it all can be used to grow your business.

Matchnode is a marketing and advertising agency that assists businesses to drive ROI, metrics driven. Among Matchnode’s clients are sports teams like Chicago Bulls, Chicago Blackhawks and Arizona Coyotes. Traditional businesses like sports teams are forced to adjust to the digital needs that emerged when the pandemic hit. Being in digital business requires being agile. As Chris puts it, the digital way forward for such type of business is through aggregating all the digital touchpoints cohesively, so that you could move with strategy fast enough to change with the digital times. To drive ticket sales, all available touchpoints for advertising and marketing should be integrated, depending on the client’s goals and needs.

Chris then shared about his work experience with NFTs, cryptocurrency, and the Metaverse. As entrepreneurial marketers, he and his co-founder, Brian, took the chance to buy cryptocurrency as an investment.

Chris defined NFTs as essentially unique collectibles, to compare it to something in the real world, where it’s just not like any others, like artworks. It is a decentralized and permissionless part of the blockchain, thus has potential for royalty. Starbucks, for instance, created a loyalty rewards program called “journeys.” Though without the exact term on its title, this re-oriented program involves NFTs coined as “stamps.” Through this rewards program, customers can enjoy their “stamps” in exchange for different types of rewards.

Additionally, Chris came up with an NFT project called Seabums that supports ocean health. With the advantage of being agile and forward-thinking, Seabums was created to be global community of NFT holders who would like to get out and help the environment.

How can small and medium-sized businesses use Web3 and NFTs to grow and engage community? Chris shared his insight: you can bring this whole new ecosystem to create something, like Starbuck’s rewards program or executing a scavenger hunt, that’s fit to the size of your business. What’s important is to design something that drives you to your goals. Any business that is cultural, artistic, fashion-oriented, and visual and design-forward can try to integrate NFTs through collaboration and community engagement.

There are many ways to dip your toes in, whether you are an individual or a business of whatever size, if you are interested in Web3/NFTs. Furthermore, there are a lot you can do in ad platforms if you know the strategy you need and what your goals are. You just need a little bit of curiosity and the desire to grab any learning opportunities to expand your experience in this area.

Resources:

• The Digital Slice Podcast hosted by Brad Friedman
• Case Study | Seabums