NFT influencer marketing: what do you need to know?
At this point, most users are familiar with influencer marketing. Since the advent of social media, this trend has evolved into a billion-dollar industry.
The world of cryptocurrency and blockchain is another phenomenon deemed to become the next big thing in marketing. So, if an entrepreneur is planning to launch a product in the overly saturated and competitive crypto market, they should enlist the services of an NFT influencer marketing agency.
What are NFTs?
By definition, NFTs are Non-fungible tokens. These assets have a unique code that cannot be replaced. For example, bitcoins are fungible: meaning that they can be traded for another bitcoin.
These one-of-a-kind trading assets are part of the blockchain, primarily Ethereum. NFTs are verified pieces of media and other art files in their inherent nature. Each digital token has a unique has that can be distinguished during the encryption process.
Essentially, users can buy any digital piece of art as an NFT. Some of the most common marketplaces to buy NTFs, include:
- Nifty Gateway
Once brought, these digital tokens can also be sold on marketplaces. For creators, they need to upload image content to a marketplace and transform it into NFTs. The instructions may vary from one platform to another.
NFTs in the influencer marketing
The most attractive feature for non-fungible tokens, when compared to other assets, is that it opens up a whole new world of intellectual property for content creators with copyright royalties.
Digital cyberspace has witnessed viral moments being turned into potential income streams over the years. This aspect of NFTs also draws in corporations and brands. Furthermore, these NFTs allow them to create an innovative customer journey by creating unique content.
How to work with NFT influencers?
NFTs serve the potential to enhance the partnership with brands and influencers for marketing. Brands can collaborate with creators to take advantage of this value-based transaction.
Studies show that 27% of millennials invest in NFTs, and the number will surely grow. Brands should work with influencers to create exclusive content for their target audience and provide enriched value.
A video experience accessible for NFTs purchases can be used to create an iconic moment. Their campaigns will gain more recognition than the competitors and provide an added advantage.
The uniqueness of this digital asset can become a whole new form of revenue potential for brands. They should ensure access to customers to these unique pieces of art and tap into the experience of exclusive content.
Brands can also work with independent creators to create individual interviews with celebrities or Livestream the content. The meet and greet experience of this type of content will prove beneficial in the long term.
Products launches and members exclusive campaigns are other ways to use the potential of NFTs effectively. These creations allow the brands to capture the unique connection they have with the fan base
DIY or Influencer marketing agency?
Since most internet users are familiar with influencer marketing, they may assume that NFT influencer marketing is relatively easy. However, it is not as simple as messaging customers. For instance, a segment of the audience may not be appropriate for an NFT creation. Moreover, there are multiple ways to approach the influencer marketing strategy. Trends keep on changing from month to month. Unless a brand owner is experienced in running hundreds of campaigns, they may not be able to understand the nuances of NFT influencer marketing.
Most importantly, they have to deal with various challenges in the promotion process. It includes dealing with deadlines, payment management, and analyzing metrics.
Why hire an agency?
NFT influencer marketing agencies have the right expertise and resources to connect with customers. They also collaborate with several creators to develop unique pieces of compelling digital content.
These items help develop a good connection with clients and drive successful results. They also select the best influencers for a campaign and guide the promotions across various platforms.
The most important reason to hire an influencer marketing agency is that entrepreneurs can save time in the fast-paced world. The blockchain and crypto landscape is constantly evolving, and attempting DIY marketing may not prove ideal. Instead, agencies can manage the entire process from concepts to analysis. As the industry grows further, they will also figure the best strategies for NFT influence marketing agencies.
How to find the right agency?
Choosing the best partner for influencer marketing amidst the crowd can be daunting. Researching agencies and the values they bring to the table can be a great starting point. They want to make sure that their brand will be marketed in the best light possible.
Social listening strategies will also help to gain insights into an agency. Knowing their ins and outs is helpful for the hiring process. Instead of making any hasty decisions, communicate needs and build momentum.
As a general rule, the compensation for the NFT influencer marketing campaigns should be reasonable. Expensive bills don’t necessarily translate into good service quality. Agencies price each campaign based on the influencer and specific solution. Hence, hand-picking marketers could prove ideal using their previous pricing track record.
Regardless of these factors, an agency should also stay up-to-date with the latest developments and trends in the blockchain industry. Keeping abreast of NFT trends is vital to remain relevant with the campaign design. It also allows marketers to leverage the updated tools for the process.
The future for NFTs
Non-fungible tokens are the latest craze in the digital landscape. Nearly millions worth of assets are transferred between users every day. But NFTs could become more than a trending topic. They have many practical use cases for businesses.
It is a digital object providing an efficient way to conduct business. Transactions can be performed quickly and easily on multiple platforms. This is the point that business owners must pay attention to and recognize the incentives in opting for NFT influencer marketing.