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“What kills a skunk is the publicity it gives itself.” Abraham Lincoln, the 16th American president
From that quote, it’s easy to conclude that skunks got it all wrongly and need a good PR campaign to turn things around.
Capturing a client’s attention to a service or a product has always been the number one challenge for all businesses. Leading companies have come a long way and applied unlimited marketing strategies, including newspaper and TV advertisements, arriving on billboards, social media platforms, and others.
However, after tracing the success stories of many big brands, it has never been the classical product description on a daily newspaper, a stereotypical Facebook announcement post for a new service, or a giant billboard featuring the brand’s slogan that got them on top of the competition. It has always been a story about some exceptional event or campaign that did the trick.
Most marketing methods treat targeted clients as passive receivers who cannot react or communicate. And that “monologue” style for marketing should not be the only possible option. Clients must know, feel, and witness how much they matter to the brand. It’s time to follow the example of flourishing, lucrative brands and bring new ones to light. This article will introduce what PR stunts are, the essential steps to creating a PR stunt, and the best publicity stunts with some real-life scenarios.
Clients must know, feel, and witness how much they matter to the brand. It’s time to follow the example of flourishing, lucrative brands and bring new ones to light. This article will introduce what PR stunts are, the essential steps to creating a PR stunt, and the best publicity stunts with some real-life scenarios.
What is a PR stunt, basically?
A publicity stunt is a fun and catching event planned by marketers or public relations specialists to attract public attention, raise brand awareness and attract new customers, investors, or stakeholders. It’s a public relations trend that’s never disappointing if carried out appropriately.
What distinguishes a PR stunt from any marketing campaign is its uniqueness and out-of-the-box approach. In addition, it involves targeted clients as part of the campaign as much as possible.
A successful stunt achieves its goal when it goes viral and receives comprehensive coverage on social media platforms, TV channels, or relevant magazines.
Most important steps to creating a PR stunt
Clarify the goals
Before thinking about an innovative marketing stunt to get publicity, it’s important to find out what the company wants to accomplish and the desired outcomes. Clarifying the goals is crucial as it’ll help organizers judge whether the stunt was a success and attained its prime goal or not.
A PR stunt goal might be:
Raise funds for a project
Generate website traffic
Promote a product or a service
Build up brand awareness
Get into the clients’ minds
If a brand really wants to live up to clients’ expectations, it has to know what clients want, what triggers their attention, and what turns their heads. Getting to know the audience is a process and requires a long time of research and analysis. However, if a brand manages to make this right, the publicity stunt is halfway to success.
Think up a unique idea that corresponds to the brand’s message
There might be hundreds of ideas that turn heads to a stunt, but if these ideas have nothing to do with the brand’s promoted message, a stunt will be a waste of time. A publicity stunt must connect to the brand’s personality in all aspects. If not, the audience will enjoy the event and never be able to make the connection between the brand and the marketing stunt it planned, which is the last thing any company will ever want.
Utilize the best two marketing mediums
Whether the campaign will be digital or on the ground, a successful marketing stunt has to be marketed and advertised efficiently to attract attention.
As of 2022, Americans spend an average of 147 minutes on social media daily, making Facebook, Twitter, Instagram, and others a stage to announce and promote an upcoming campaign to an existing audience that has already developed an interest in the brand. Social media is unavoidable. So, if a marketing campaign goes viral on the internet, receivers will come upon it on all platforms.
Real-life example: ALS ice bucket challenge viral SM exposure
The ALS Ice Bucket challenge became a massive trend in 2014, and everyone started to follow it enthusiastically. The challenge suggests dumping a bucket full of ice on the partaker’s head and challenging two or three friends to do the same.
This international PR campaign has raised awareness about ALS disease (Amyotrophic Lateral Sclerosis). In addition to more than 100 million dollars of donations for medical research. The funds were channeled into expanding research and trials for possible cures.
Influencers and celebrities
Influencers have the power to affect purchasing decisions. Many people have confidence in celebrities and influencers and are willing to trust a brand or purchase a product blindly if a popular name recommends it. So, a marketing stunt must involve at least one influencer to expand the outreach and engagement.
Real-life example: As Above, So Below Cooperation with PewDiePie
In 2014, PewDiePie, a Swedish YouTuber, teamed with the producers of a French horror film “As Above, So Below” and recorded a series of 10-minutes videos about adventures on the film’s set. Because the YouTuber has over 100 million subscribers who love and trust him, the film’s trailer views were boosted, and it gained more popularity. It was a win-win situation. PewDiePie fans enjoyed the series, and the film had the reach and attention needed.
Social media platforms are the unbeatable means of marketing nowadays; however, that doesn’t completely cancel the role of traditional media. TV channels, printed magazines and newspapers, radio broadcasting, and billboards could be effective methods in some cases. Many companies have found that some of these methods are still adventurous for them to some extent.
So, a stunt planner should have an open mind and consider how diverse and unique the audience is so that no one can predict what will garner their attention.
Real-life example: Renault’s electric car campaign in Romania
Auto brand Renault has raised awareness about pollution by utilizing one of the traditional methods, billboards, yet with some updates. The stunt was in Bucharest, which is considered one of the most polluted cities in the world. The pollution-triggered billboard was a great approach to boost sales for the new electronic car recently released by Renault.
The price of the zero-emission electric car, ZOE, drops down on the digital display, DisCO2unt billboard, whenever pollution goes up. That stunt encouraged more Romanians to consider the environmentally-friendly car as an affordable option.
Do publicity stunts still work?
Stories about inadequate and failed publicity stunts have been circulating the internet lately, which raises the concerns of everyone on whether PR stunts still work or not.
Actually, marketing stunts worked before and will still mark the success of many brands to come. But if a company wants to rise to the occasion and achieve its goals, many factors need to be aligned to attain the best results. A successful marketing stunt has to be:
Bold, out-of-the-box, and original
Planning a successful PR stunt means going above and beyond expectations and coming up with an unpreceded idea. People always remember special and fun events. Consequently, this kind of PR stunt will achieve long-term success.
One of the most winning factors that directly contribute to a marketing stunt thriving is engagement. What’s meant by engagement is that clients, who are the only ones to decide whether to take the PR stunt to the next level of publicity or bury it, should be able to participate, just like the case in the Ice Bucket Challenge.
When the audience feels they’re a prominent part of the stunt, that’s when it’ll become a word-of-a-mouth, and that’s when a brand can take pride in planning a top publicity stunt.
Timing is another crucial element to be considered with the utmost circumspection when planning a campaign. A marketing stunt could be targeting, well-planned, and unique, but if it doesn’t occur at the right time, it won’t get the anticipated impact.
Instead, another stunt could not be that special or innovative, but it gathered colossal attention because it seized an opportunity at perfect timing. IKEA #StayHome is an excellent example of that, as you’re about to read.
Because a PR stunt is an event that targets a variety of people from different cultures, perspectives, and beliefs, appealing to most of them is a stressful challenge. A planner has to think about the possibility of things going wrong or the audience not getting the message clearly and establish a plan B to stay ahead of any surprise.
Wise planners gather opinions from different people to have a more comprehensive and realistic outlook and put themselves in any client’s shoes.
This step is essential because facing a backlash in the social media era might be impossible, and the poorly planned campaign might leave a stigma on the brand’s reputation forever.
For example, Brewdog has imitated Willy Wonka’s idea and announced it had hidden a golden can in a beer box. The unfortunate winner who found the can was extremely pissed off about the fact that the can isn’t actually made of gold. It was a little misunderstanding, and the stunt spread massively, but not in the best way.
What are the best publicity stunts?
Red Bull space dive
Red bull has really gone to the extreme and pulled off a historic international PR campaign that the world is still talking about till our days. Red Bull has always claimed that its energy drink “gives you wings,” so that slogan inspired its next prosperous marketing stunt.
In 2012, Red Bull sent Felix Baumgartner over 24 miles from space to earth in an attempt to bring the slogan to life. The stunt wasn’t live-streamed on TV as the event’s exact timing was unpredictable due to the weather issues. So, YouTube was the only option to spread the stunt.
Red Bull utilized social media to promote the event and triggered the interest of 8 million people to watch the live stream on different platforms. It was an earth-shaking event; it’s the best representation of a successful publicity stunt.
As long as the stunt is connected to the brand’s message and identity, a brand can go as big as it can.
When COVID-19 has found its way to each and every spot in the world and locked up everyone in their homes for an unknown time, IKEA, by a 30-second video, has made the best use of the situation all humans are experiencing worldwide. That video features many short clips taken from different homes showing the other bright side of the pandemic and how it gave us the chance to feel and enjoy that intimate space life concerns have been taking us away from.
Not only that but a digital catalog has been released along with the video. That catalog includes many fun group and family games everyone can enjoy.
This campaign was booming, and both the video and catalog were received with massive acceptance by the audience because IKEA released it at a time when people were dramatically overwhelmed by the quarantine and the new lifestyle. It simply demonstrated how IKEA stands next to its customers in all circumstances.
A simple and life-inspired stunt idea could be a great move if done correctly. Any brand needs to consider the current situation and empathize with the target audience.
Diet coke unlabelled cans
As an attempt to encourage diversity and stand out against false societal labels, Coca-Cola has launched a limited edition of [unlabelled] diet coke cans. This marketing stunt had a clear and fixed goal: to help people open up, express, and accept themselves the way they are.
To maximize the campaign’s success, Coca-Cola has devoted a prominent real estate in New York to a group of “unlabelled” people. In addition, it created unlabelled free spaces and introduced the new cans to many cultural events in the US.
No matter how simple the gesture might be, a company has to connect with clients in all possible ways. This kind of action won’t only attract new clients; it’ll also improve the rapport with old ones and make them entirely loyal.
KFC “It’s Good” Campaign
Ever since KFC acquired its franchise in 1950, the slogan was “it’s finger-licking good” However, in 2020, after the Corona pandemic emerged, the Advertising Standards Authority received a significant number of complaints about the slogan and how it conflicts with Corona safety precautions.
KFC has responded to clients’ objections and blurred the “finger-licking” part. The new slogan become to “it’s ******* good.” That change was applied to all KFC branches worldwide in the US, UK, Middle East, North and South Africa, etc.
Though it was a fun and simple international PR stunt, KFC has indirectly contributed to the awareness-raise of hygiene importance during the pandemic and simultaneously made a splash.
When a company considers its clients’ suggestions and complaints, its attentive and considerate presence will stand out among competitors.
FAQs about publicity stunts
How could a marketing stunt grant a company success?
The main point of planning a marketing campaign is to capture the target audience’s attention using the most innovative and catchy ideas. People remember these things, which will leave a positive impression about the brand and motivate them to make a purchase, provide a fund, or contribute to word-of-mouth marketing.
Should the campaign’s budget be large?
If we want to define the publicity stunt in two words, it’ll be a “unique event”; it shouldn’t be expensive or extravagant. Uniqueness is something that everyone can afford. But to tell the truth, a generous budget might help generate more ideas for a stunt. However, a tight one will never be a hindrance to planning a memorable publicity stunt in the presence of brilliant minds and innovative planners.
Can a publicity stunt get noticed without involving an influencer?
The influencer’s rule in a PR stunt is a facilitator. They will save the campaign planner a lot of time and effort in advertising the event because if an influencer is well-connected and knows how to do their job right, their role can be enough to market the stunt. As a result, it won’t need to involve any marketing mediums.
However, a publicity stunt can succeed if it utilizes other mediums efficiently. Yet, in a more challenging way.
Who is the stunt planner?
A stunt organizer works in the public relations field and is up-to-date with the brand’s current state. A PR practitioner is a leader, so they should be innovative, smart, calm, and able to keep abreast with the field’s trends.
How to decide whether the marketing stunt was a success or not?
The best-case scenario differs from one stunt to another because the desirable goal is not the same for all campaigns. For example, if the stunt goal was to promote a product, it’s achieved if the sales increase.
Publicity in general and PR stunts in specific play a vital role in a brand’s success. In one way or another, it’s the magic wand that can bring a brand to the sky or destroy its reputation for years to come.
Now back to what Abraham Lincoln said, it sounds more reasonable how powerful publicity can be and how PR stunts can affect publicity for businesses in different fields. Unluckily for skunks, their PR manager messed things up for them in the past, and they still have to suffer from that.
What is the Best Day to Send Your Press Release Emails?
If members of your target audience work at ecommerce or SaaS startups, the best day to send an email is on Tuesday or Thursday, according to findings by Sendinblue. If your target audience works in marketing services, the best day to send emails is on Wednesday.
According to Muck Rack’s state of journalism report, 94% of journalists prefer receiving pitches via email. So, if you’re reaching out to a journalist to pitch your press release for the first time, a cold email is the best way to get a hold of their attention.
Siege Media’s findings suggest that you’re better off sending out your cold email on Monday if you’re looking to get an open rate of more than 20%. If you’re following up on your pitch (more on that later), send your follow-up email on Wednesday, to increase your chances of getting a response.
Now, that’s general email data on the best day to send an email.
Let’s compare this with how journalists interact with the email pitches they receive and their preferences and identify any trends.
Journalists prefer receiving email pitches early in the week, and this tapers off as the workweek progresses. Fridays aren’t a good day to send your press release as journalists are wrapping up their work week, making it more likely to have your pitch ignored.
In a typical work week, a journalist will receive more than 20 pitches. Given 59% of journalists publish a quarter of the pitches they receive, you’re better off sending your press release on Monday or Tuesday.
Journalists work at least 4 beats, meaning that they receive more email pitches to cover stories in each of these beats, so if you’ve done your homework and your timing is relevant, send a follow-up email.
Their preference on what to publish will be determined by how relevant your pitch is, and if you have done your homework, follow up using a compelling subject line to increase the chances of your emails standing out in their inbox.
What is the Best Time to Send Your Press Release Email?
Going back to industry data from Sendinblue, 10:00 am to 4:00 pm in SaaS, Ecommerce, and marketing services are the best times to send your emails.
Siege Media’s findings don’t deviate far from this, as the report suggests that you send your cold emails from 6-9 am if you’re in EST and from 9-12 pm if you’re in PST.
On the other hand, 67% of journalists prefer receiving pitches between 5 am and 12 pm.
Regardless of the niche, general email behavior suggests that most people want to deal with emails earlier in the day (either when they wake up) or when they get to the office before starting off their workday.
For journalists, that’s not any different, and you want your press release to land in their inboxes early enough to have a shot at being covered.
Well, the data will tell you one thing, but that’s not the whole story
There are factors that will get in the way of sending out your press release on any of the days listed so the best day and time we’ve presented here should be a guide.
For example, a public holiday that falls on a Monday means you’ll have to either send out your press release on the second-best day, which is on Tuesday or Wednesday.
If your content program involves localizing your content, In some cases you’ll need to consider hiring a content writer and the different time zones of different locations where you want to deliver your press release to make sure you send it at the right time.
Current events will also influence the best day and time you’ll send your press release. One of the reasons journalists fail to publish a story they receive is because of bad timing and irrelevance.
Their timing was appropriate due to current events, and they were more likely to get more visibility during the COVID-19 pandemic than at any other time.
On average, a journalist covers four beats, which means that in addition to your story being relevant, you also need to be aware of what’s going on in the other niches they are covering.
So instead of mass-emailing journalists and hoping for the best, narrow down your focus and send your pitch to a few journalists who are more likely to open and read your pitch.
Muck Rack’s insights on more than 5 million pitches reveal that the larger the list of journalists you email, the less likely it is for them to open your email:
The more journalists you target, the less personalized your pitch will be, making it harder to stand out. It is even likely that you will be sending emails to journalists who do not cover your industry.
Narrow your targeting by using Muck Rack to monitor what journalists write about, the topics they cover, their location, and their social media activities. You can also use the tool to identify online publishers and bloggers who cover topics related to your industry.
Put all this information into an excel sheet to make it easier for you to filter your list to know who to reach out to when your press release is ready.
Having learned about the best day and time to send your press release, you’re in a better position to decide which day works best for you, depending on how you intend to distribute your press release.
Here’s a recap of what we just covered:
Send your press release emails on Monday or on Tuesday preferably early in the morning, between 6:00 and 10:00 am or between 10:00 am and 4:00 pm.
Factors such as current events and location will affect the relevance and timing of your press release. Use the best day and time we’ve established to guide you when deciding when to send your press release.
Most likely, you have heard about NFTs from somewhere, and whether you know what they are or not, their growing popularity cannot be denied. According to Chainalysis, the spending on NFTs on various marketplaces was up to $41 million in cryptocurrencies in 2021.
With the growth of NFTs’ popularity overall, it’s natural that the digital marketing landscape is slowly changing as well. Many brands are trying to grab a piece of the pie for themselves and stay connected with events in the digital sphere.
By implementing NFTs into your brand’s marketing strategy, you can enhance customer-brand relationships, drive customer engagement and create unique experiences that boost your brand awareness.
Keep reading to understand what are NFTs, and how your brand can take advantage of this phenomenon and reach a new level in how you approach digital marketing.
What Are NFTs?
Before diving into how NFTs can be used in marketing, let’s take a brief look at what exactly are NFTs and their use cases.
NFT or a Non-Fungible Token represents a digital asset recorded on the blockchain system. Ever since its launch in 2014, the NFT-wave is in full stride. The first NFT, Quantum, is sold for a whopping $1.4 million at the close of Sotheby’s auction Natively Digital. Non-Fungible stands for one of a kind – NFTs are interchangeable (unlike fiat money), each token has a unique value and shows ownership and authenticity. Besides that, NFTs are immutable and counterfeit resistant.
Due to all of these qualities, different industries are starting to look at how they can take advantage of these aspects and implement NFTs into their business strategies.
To put it simply, anything digital – a photo, a video, a gif, a music piece, or even a Twitter post, can be turned into an NFT. And although everyone can get a copy of the file, the proof of ownership of the digital assets belongs to the one holding the NFT.
The initial idea behind NFTs was for artists to have a platform where they could sell their art and fans could support their favorite artists, build unique digital collections, and trade their assets.
And while there are many famous digital artworks like CryptoPunks and Bored Apes Yacht Club, NFT hype is rapidly expanding into many other industries.
Why are people buying NFTs?
Whereas it’s pretty easy to grasp why so many artists are eager to join the NFT world, it can be a little harder to understand what makes people buy NFTs that seemingly don’t hold value in everyone’s eyes.
And while NFT is essentially nothing more than data stored on a blockchain system, the concept of value is behind the trend of this phenomenon. Therefore, the value that the potential buyer sees in a specific NFT defines the transaction price.
A good comparison with NFTs is what’s been happening with different collectibles associated with famous people for a long time. A few years ago, Barack Obama’s high school basketball jersey was sold for $192 000. And the jersey’s high price was believed to be worth it by whoever sealed the deal.
In essence, the same applies to NFTs – people buying them see value in them, and often, it’s also related to social status and the bragging rights about what you own. And, of course, when the circumstances are right, it’s possible to sell the NFT for a better price than what was initially paid for it.
This is also why many well-known brands such as NBA, Taco Bell, Budweiser, Gucci, Coca-Cola, McDonalds’, Ray-Ban, and many more have successfully made NFTs part of their branding strategies.
However, NFTs don’t just have to be for legacy brands, and businesses of all sizes can get creative to implement NFTs into their marketing strategy and boost customer experience.
How Can Marketers Make Use Of NFTs?
Every marketer knows that good marketing has to go beyond offering customers your products and services. A successful marketing strategy includes providing meaningful experiences and forming long-lasting relationships.
NFTs are a perfect way to do this and simultaneously keep up with modern times in the digital sphere and take their first steps into the Metaverse. Whereas NFTs may not result in immediate ROI, they have an essential part in supporting the rest of the efforts to generate conversions and sales.
Here you will find a list of possibilities for how to include NFTs in your digital marketing strategy.
1. Reach A Larger Demographic
Adapting digital trends such as NFTs into your marketing strategy is an excellent way to broaden your audience reach. Especially now when there are 15 000 – 50 000 NFT sales daily, and NFTs popularity is on the rise.
Entering the NFT market can easily attract new customers in the digital sphere who would not otherwise stumble across your brand and your offered products and services.
Bicycle, a card company that has been around for over two centuries, is nothing but an old-fashioned company and therefore is a brilliant example of how brands can embrace the world of NFT marketing to be present for a new digital demographic.
Bicycle’s artwork for their NFT collection “Genesis Collection” represents a digital deck of playing cards in a way playing cards might look in a thousand years and was created by a respected playing card artist Adrian Valenzuela.
With the purchase of NFT assets created by Valenzuela, the Bicycle NFT holders gain access to card deck presales, can attend exclusive events, and access a digital deck of NFT cards.
This new approach to bringing playing cards into the digital sphere has gained the attention of people interested in new technologies and frequent card players alike.The company’s CEO Stefaan Merckx has stated that the NFT launch has opened doors to reach new consumers while still staying true to the brand’s roots.
“At Bicycle, we’re a heritage brand that has been at the forefront of playing cards for over 135 years, and this NFT launch marks a special moment in our history where we’re bridging the gap between tradition and innovation,” he said. “Looking ahead, we’ll continue to reach new consumers and generations while also staying true to our history.”
2. Increase Brand Awareness
A trending approach to using NFTs in marketing is to show off your brand in the Metaverse. The primary Metaverse shopping environment is within online video games, where 74% of Gen Z users have reported to have made at least one purchase.
To get your brand on the Metaverse, you can mint your products or branded merchandise as NFTs and then sell them on different platforms where users can buy their desired items and use the assets in the Meta sphere.
By giving your loyal customer the chance to use your branded items, you will be able to gain exposure among Metaverse users and spread word about your brand.
Naturally, it’s simpler for big brands with a huge fan base who are eager to get their hands on the brands’ virtual assets. However, this does not mean there’s no room for small players, mainly because metaverse is still in its early stages and NFTs popularity is steadily increasing.
One of the most inspiring examples of small brand success is RTFKT Studios, a digital fashion brand that became popular worldwide with its series of virtual sneakers minted as NFTs. Their NFTs went viral and built up a real hype and brand awareness which resulted in Nike buying the company’s rights in December 2021.
3. Create Unique Customer Experiences
75% of customers expect companies to combine existing technologies with new ones to provide better experiences. NFTs really hit the mark here as they can easily be integrated as part of your brand storytelling, allowing customers to enhance their experiences and engagement with your brand.
Integrating NFTs into your customer experience has multiple options to strengthen brand loyalty. For instance, you can hold special virtual events or complement your on-location events for NFT holders, provide an exclusive rewards system, promote new products, etc.
A great example of a success story of boosting customer experience and strengthening brand loyalty through NFTs is from Burger King and their Keep It Real Meals NFT collection.
Together with Trading NFT Sweet Platform, Burger King integrated 6 million QR codes on their most popular burger and sandwich packaging boxes. Once those codes were scanned, customers could unlock, collect, and trade Burger King NFTs.
By unlocking 4 NFTs, customers were granted a reward-based NFT ranging from digital collectibles, Whopper sandwiches for a year, autographed swag, or a call from one of the celebrities representing the brand.
4. Support A Good Cause
In recent years, customers’ expectations for brand values have grown immensely. Customers expect transparency, and up to 84% of millennials are willing to spend more money with brands offering a culture they can relate with.
One way to show your brand’s dedication to social causes is to use NFTs revenue to support charities. These digital assets provide a great way to collect money via transparent auctions, which help to engage with new audiences and strengthen brand awareness.
Like many other celebrities, Ellen DeGeneres launched her own NFTs, including her four-minute monologue that was sold for $14,555 and her selfie “Woman With Sick Cat.”
All the proceeds from the auction were donated to World Central Kitchen, the food-relief org founded by Chef José Andrés.
5. Create Hype And Boost Pre-orders
Building hype around your product before its actual release is a known marketing strategy in various industries. A lot of FOMO is successfully created among book and video game communities where customers desperately wish to be the first ones to get their hands on the product.
Creating NFTs and allowing early access to their holders can help to generate buzz and spread the word before the actual product launch. This way, you’re likely to attract numerous early-bird customers and increase your sales.
A creative approach to a new product launch (and for funding) was seen by writer Rex Shannon who released his novel CPT-415’s pages separately as NFTs. Once a page was sold, another one was made available to the public. This gained a lot of attention among the community and also introduced a new way of novel reading.
6. Protect Brand Image
Although small brands are usually not in danger of their fake merchandise circling in the market, it’s something to keep in mind when your brand grows. And NFTs are a perfect way to secure and protect the brand image against fraudulent products.
Robert Mondavi Winery has approached creating NFTs with this specific goal in mind – to protect their wine province.
With the increase of knock-off vintages getting to the market, the Winery partnered up with an artist Clay Heaton to create a collection of wines featuring porcelain bottles and NFTs that authenticate the wine.
While the main focus was combating wine fraud, the creation of NFT has also turned the bottle into a collectible and traceable work of art, underlining their emphasis on environmental responsibility.
The Downside Of NFTs – The Ecological Cost
While using NFTs in your marketing strategy holds numerous benefits, it can also have a negative impact that you need to consider.
Brands need to be aware of the bad reputation of blockchain technology for using up enormous amounts of energy.
According to a study made by Computational Artist and Engineer Memo Akten, the average footprint of a single transaction relating to an NFT (minting, bidding, sales, transfers, etc.) is 82 kWh, with emission of 48 KgCO2. This amount of energy use exceeds the consumption of power that the conventional household requires for over a day and a half.
It’s also important to understand that the price of a digital asset does not influence the amount of energy used. The energy consumption comes from the tokenization and the exchanging of data where each transaction needs to be verified. And while thousands of miners are looking to verify the transaction, only one can be successful.
Fortunately, there are people out there, like Elon Musk, who are working on implementing technologies for crypto transactions that would be more sustainable.
Therefore, if you embrace the use of NFTs in your marketing strategy, take time to familiarise yourself with the possibilities of being as environmentally responsible as possible and let your customers know what steps you have taken to ensure that.
The Bottom Line
NFTs are slowly moving into the landscape of digital marketing, and major brands are rushing to implement NFT marketing in new and creative ways.
As NFTs are still in their baby shoes, it’s a perfect time for other brands and marketers to jump on the board to start building their presence in this new digital era, capture the attention of new potential audiences and boost the loyalty of returning customers.
But as always, integrating new technologies into your business comes with challenges. To ensure you are not jumping blindly into the unknown, do your own research, and familiarise yourself with the perks and concerns that might come with stepping into the NFT world.
Any business that denies the importance of sales and marketing is a business that’s driving itself to the ground. Without proper sales and marketing strategies, a business will find it hard to grow at best and perform very poorly in not-so-good scenarios.