Customer Loyalty in the cookieless age of NFTs
The proliferation of Non-Fungible Tokens or NFTs is generating hot debate and confusion. The article highlights how NFTs help drive brand engagement and customer retention? We’re seeing people spending hundreds of thousands of dollars on a digital piece of art, and brands like Dolce & Gabbana, Reebok and Gucci making headlines with their NFT investments. The proliferation of Non-Fungible Tokens or NFTs are generating hot debate, but also confusion. Which begs the question, how do NFTs help drive brand engagement and customer loyalty in cookieless NFTs?
Marketers love cookies. Brands have been using them for years to track website visitors, improve the user experience and collect data to efficiently target the right ads to the right audiences. Loyalty is key to driving that connection. If you can package up a great value proposition, whether it be a membership, subscription or punchcard program, customers will give you their information.
Cookieless future calls on loyalty resurgence - As marketers, our day job of staying on top of execution is challenging enough. And marketers are left wondering how to connect with customers in a cookie-less era. Now we have to do that plus stay on top of data and regulation with customer engagement, challenges and privacy. It’s a lot. Like Paula says, “Loyalty has to be increasingly respected and invested in to compensate for the loss of third-party cookies.”
NFTs: The new driver of loyalty? - The movement of NFTs is essentially a digital contract of sorts. Say the brand releases 100 NFT badges of specially designed coffee cups, and the people who are a part of its loyalty program can buy those NFTs, becoming privy to certain benefits like a lifetime supply of free coffee. It could be art, or it could be something like a specialty Starbucks cup.
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