New Ways to Drive & Track Engagement

The digital asset market continues to grow, with over $24 billion spent last year alone. This represents a huge opportunity for your brand to better engage and reward your top customers.

Not only can digital assets help you engage with your customers, but they can also allow your brand to identify who your top advocates are and how they participate in your brand experiences.

In this article, we'll explore how your brand can leverage digital assets to further engage with your customers and your underlying brand community. 

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Incentivizing Engagement and Participation

Brands can use digital assets in a variety of ways to incentivize participation. The following are a few industry leaders that have utilized digital assets to drive engagement within their campaigns and with their products:

• In late 2021, Clinique hosted a contest and awarded winners with limited-edition NFTs. In order to enter, customers had to create content on various social media platforms that answered the question: “How do you bring hope and optimism to the people around you and who brings a smile to your face?”. Along with the NFT, winners would be granted an annual assortment of Clinique products for the next ten years.

• In January of 2022, Adidas collaborated with fashion giant Prada on a first-of-a-kind NFT project that featured user-created art. The project saw the two brands invite their customers to contribute unique anonymized photographs which were then compiled into a single piece of art by digital artist Zach Lieberman. Customers who chose to contribute images would continue to retain the full rights over their image. The final piece of art was created as an NFT, and went on to sell at auction for over $76,000 USD. 

• In January of 2023, Nike invited customers to design their own digital products on the .SWOOSH platform. The contest, called #YourForce1, invited community members to create a footwear design and share it on social media in a visual storyboard format. Four winners were selected from all entries, and each designer was awarded $5,000. A design from this contest went on to be featured in Nike’s “Our Force 1” digital sneaker drop in April 2023.

Track Engagement with Your Brand Community

Blockchain technology also enables your brand to identify your most engaged community members. For the first time, you can see who your superusers are beyond just initial interactions.

This unlocks valuable new customer data:

• See which community members are most active in collecting, earning, and utilizing your digital assets. 
• Identify key influencers within your community and collaborate with them on special rewards or co-creation opportunities.
• Gain visibility into which other brands and experiences your customers are engaging with through their digital asset activity.

For example, Lacoste established a virtual world for holders of its NFTs. Users could participate in creative contests, interact with the brand's history, and collaborate on fashion designs.

A leaderboard tracked participation, automatically recording it on the blockchain. The most active members received exclusive prizes like trips to Lacoste's Paris flagship. This allowed Lacoste to easily identify and engage its top brand advocates.

The key is designing digital assets that encourage ongoing participation and social connection amongst your community. This generates the data that provides actionable insights into your customers' interests, relationships, and influence.

With these insights, you can refine your marketing campaigns to better resonate with your audience. You can also identify opportunities to collaborate with community members on new digital asset designs and experiences.

Drive Engagement Today

Digital assets are positioned to change the way we think about customer engagement and participation. By utilizing the unique features of digital assets, your brand can tap into a new way to engage with and reward loyal customers. From digital contests to co-creation opportunities, the use cases for digital assets are endless, and there’s no better time to get involved with this emerging technology than today. 

‍Connect with us today to explore how digital assets can be best used by your brand.

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