NFTs or Non-Fungible Tokens use blockchain technology to create a cryptographic token that acts as a digital asset. Unlike cryptocurrencies, NFTs are individually unique and you cannot exchange one for another. Businesses selling digital goods have more opportunities in NFTs. These traceable assets can help you grow your business more.
Create Trust with Customers
Blockchain technology is considered safe. NFTs use blockchain to keep and track information, which makes it impossible to tamper with information. Unlike other assets, NFTs, just like Bitcoin and other cryptos, are theft-proof and cannot be counterfeited. You can use them to highlight your business’ transparency practice and accountability. With the transparency that comes with NFTs, your business will appear more responsible and trustworthy.
Businesses can turn their products into NFTs and then track them from there. You can turn anything into NFT, including essential oils and furniture. When you need to create your own NFT from physical products, will need to serialize products, and then turn them into phygital by scanning the serialized code.
Send Rewards to Your Customers
All NFTs comes with a unique ID. This ID connects to the wallet with the real item. You can use these IDs to send rewards directly and instantly to the customers. Businesses with a loyalty program will benefit from the traceability of NFTs in accelerating the loyalty life cycle of the customers. When well-implemented, the loyalty program can help your business turn one-time customers into loyal customers. Because everything is done digitally, you will have an easy time managing the loyalty program.
You can also reward your customers with members-only content or airdrop more NFTs to members. Ensure that your most loyal customers have easy membership access to perks and benefits.
Create Easter Eggs to Enhance Customer Experience
You can present your physical products as images or video content. These phygitals bridge the gap between the tangible items and the digital products that are the NFTs. Besides presenting your products as images, you can create “Easter eggs” and several other surprises to create an enjoyable and gamified experience for your customers.
These surprises provide an opportunity for your customers to interact more with your brand and learn more about your products and services. The games are ideal for small brands looking to grow their audience or even get their products known. You can create surprises to include personalized messages for the customers who buy your products. After launching new products or services, you can use the same Easter eggs and personalized messages to help people learn more about your products.
Use NFTs to Tell a Story
You can tell your brand’s and your products’ stories using NFTs. When you present physical products as NFTs, customers will have instant access to more details about your products and services or your brand. Reading the story behind your brand behind specific products will help customers form a personal connection with what you are offering. It also helps people understand your story and what you are trying to do with your brand.
Once you scan the serialized physical products, the customers will have access to photos, videos, and certification files among others. This is a great marketing strategy that will get customers to connect with your brand values better.
Selling Direct to Consumers
NFTs offer you a simple platform where you can sell your products directly to consumers. When you sell your products directly to the consumers, you reduce the chances of having counterfeit goods as you are the original seller. The customers can communicate directly with you to learn more about the products that you offer. If you can communicate fast and effectively to the customers, they enjoy a great customer experience, and you sell more.
As a brand, you can communicate with the customers through push notifications, email, and several other platforms. Create effective marketing campaigns for your phygital products to sell more.
Besides enhancing your business’s strategies, you can earn from the NFTs you create. Creating NFTs gives you a whole new revenue stream so that you never have to lean on ads and sponsorships. You can sell the NFTs in fiat or crypto, receive payment as a merchant, and sell ancillary products to NFT holders.
