Brief #55: NFTs and Crypto in Marketing?

This content originally appeared on March 24, 2021 as part of the Future of Marketing weekly email series. Subscribe here.

Welcome to Future of Marketing.

Each week, we send you the most relevant trends, resources, and strategies in social and user-generated content (UGC) from leading marketers and brands around the globe. 

Today, we’re discussing…

  • NFTs in marketing
  • Bitcoin in hashtag challenges?! 
  • #BrandCrush: Little Debbie

The NFT Train

Most brands are still catching up to new consumer expectations (like user-friendly in-app ordering), but others are already leading the race with virtual experiences, cryptocurrency, and now… NFTs

Taco Bell was the first fast-food chain to jump on the NFT train; Charmin sold toilet paper-themed crypto art and donated its proceeds; Jack Dorsey sold his first tweet, and TIME magazine released three NFT covers.

For brands, “it’s a quick way to get money and gain attention,” shares Jacob Kastrenakes. It’s also a new way for brands to engage fans and access a new realm of creators. 

For Fintech companies, NFTs in their messaging are an obvious choice – but for enterprises like Charmin and Taco Bell, NFTs are not only a chance to position “traditional” brands in a more innovative light and engage fans from a new angle… but a chance to be part of history.

Remember – the last thing marketers need is another distraction. Start with a clear strategy and goal to drive word-of-mouth. 

Here’s an idea: consider running a contest or challenge to recognize and immortalize the voice of your fans (like having users submit content in exchange for a sponsored NFT).

Bitcoin in Hashtag Challenges?! 

Michelob ULTRA is giving away one Bitcoin (currently valued at nearly $57,000) in its #ULTRAOrganicSeltzer social media contest, where they make fans pledge to not drink the beverage. 

They promoted the campaign with this commercial featuring a creepy robot filming people’s reactions on the street as it strutted around and tore Michelob ULTRA’s posters down. 

The brand’s message? REAL is better – hinting at the organic ingredients in Michelob ULTRA’s new Seltzer drink. 

Brands like Michelob ULTRA are using social media and advanced tech (like NFTs and cryptocurrency) to drive word-of-mouth, and convert people into customers by creating irresistible experiences that spark UGC. 

Remember: Your goal should be to inspire UGC, create word-of-mouth, and drive people to your brand.

What we’re learning

#BrandCrush: Little Debbie

Each week in #brandcrush, we highlight exceptional brands that are channeling their customers’ voice to connect more authentically with their audience.

Little Debbie engages their audience by replying to fans and re-sharing UGC. From memes to clever recipes, Little Debbie is this week’s brand crush because of the love their fans express.

You see, you don’t need to overspend in content production to build trust with your audience. By giving your brand a more humanized personality, fans are more likely to resonate, connect, engage, and buy from you

Look at the content your fans are sharing, ask your team what questions your customers have – and as Simon Sinek says… start with why.