Developing an engaging, ongoing relationship with your consumers is one of the most difficult tasks a brand can face...
Developing an engaging, ongoing relationship with your consumers is one of the most difficult tasks a brand can face. In a world filled with digital distraction like promotional texts, emails and notifications, it’s a constant challenge to create and maintain a meaningful connection with consumers. Similarly, rewarding your loyal customers is key in developing long term brand advocacy. This is why many brands are looking to NFTs as a solution for re-engagement, as they are highly dynamic tools that can help circumvent these issues.
So what’s so special about NFTs for these applications? Outside of an NFT being a digital collectible and having value due to the ownership of the minted object and its scarcity, when someone purchases an NFT, they are essentially opening up a new communication channel for the brand to interact with the holder and a new data source to mine. This is because the information about the purchase of an NFT lives permanently on the blockchain and cannot be altered, and allows you to not only access the address of a consumer’s wallet, but also the entire transaction history associated with this wallet.
Take, for example, this ‘account’ (otherwise known as a wallet ID) on the Flow blockchain.
When we look at the transactions that have occurred on this public ledger, we’re able to get insight into behaviors like:
A lot of the information contained within this dataset would be considered an absolute goldmine to typical consumer segmentation specialists. This is because the data is clean, comprehensive and also contains all information about purchases made from potential competitors or brands of interest. It’s like having access to your consumers’ entire transaction history — in and outside of your brand’s products — with no need for collection of any PII.
With all this data available, you might be asking what can be done with it. The spectrum of complexity in which this data can be utilized is broad. For the remainder of this article, we’ll boil it down and provide a few examples of how segmentation and activation of this data can drive loyalists to re-engage with your brand using Gigantik’s Gated Access Campaigns.
Gated Access Campaigns enable brands to create additional value for their community of collectors by rewarding specific collectors based on their current or past engagement with the brand.
Gated Special Promotions
You can use the Gated Special Promotions feature to reward collectors with price discounts and early access benefits who own specific NFTs.
As an example, if a brand wanted to reward all current holders of any of a brands’ NFTs a 20% discount on an upcoming drop, Gigantik can verify token ownership and apply a 20% discount to verified holders.
Alternatively, if you wanted to re-engage collectors who were supporters of your early campaigns, you could give early access to your upcoming drop for collectors who purchased your inaugural NFT mint. Gigantik would verify ownership of wallets that currently hold the token corresponding to your inaugural NFT and enable early access purchasing for those holders.
If you wanted to do this in an even more sophisticated manner to reward collectors who have held long term and not sold, you could:
Gated Drops
In some cases you may want to give exclusive purchase access to collectors who currently own one or more of your NFTs. This is a common approach for many web3 and traditional brands who see the value in creating true purchase exclusivity for their holders. The new Gated Drops feature allows only a particular set of collectors, who own required tokens, to be able to purchase, redeem or bid on an NFT on Primary Marketplace.
For example, if you want to give access solely to collectors who hold NFTs from your latest collection, you can simply select all the NFTs in your latest collection and enable these as a prerequisite for a gated drop through Gigantik.
Alternatively, you may want to create an exclusive drop for your ‘top holders’. Top holders could, however, come in many forms. You may consider your top holders to be collectors who:
In all of these cases, you may want to do some custom data analysis using a combination of public ledger data, transaction history or collector score data (available within Gigantik) to develop these segments. After completing this, you’d simply need to airdrop a ‘mint pass’ NFT to the wallet allowlist you generate. This NFT would act as the verification token for a Gated Drop in Gigantik.
Conclusion
The above examples are just a few ways that brands can utilize Gigantik’s Gated Access Campaigns to drive re-engagement strategies and brand loyalty. As this nascent industry grows and privacy becomes more of a focus for consumers and technology companies alike, we will most certainly see more brands making use of web3 technologies to develop their relationships with consumers.
Meta Mike leads Partner Success at GigLabs and has a passion for contributing to the education and enablement of the open metaverse. GigLabs is an Atlanta-based technology company that provides white labeled end-to-end API technology stack for brands to launch NFT storefronts and marketplaces. The company partners with brands, agencies and creators to provide easy-to-use tools for generating, minting, and selling NFTs that can be presented within fully customizable brand experiences.
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