How can brands effectively utilize NFTs as a marketing tool to increase customer acquisition, build customer engagement, and establish long-term loyalty?

Details

Supervisors

Schuiling, Isabelle

Faculty

Louvain School of Management

Degree label

Master [120] en sciences de gestion, à finalité spécialisée

Abstract

In the era of rapid technological advancements, Non-Fungible Tokens (NFTs) have surfaced as innovative tools for marketing strategies. Our study offers some insights on the potential and challenges associated with integrating NFTs into marketing strategies in a time when the initial hype has subsided, and a more sober perspective has taken hold. In this thesis, we look at the application of NFTs in marketing, their ability to reshape the customer-brand relationship, and potential challenges associated with their implementation. The study was based on an in-depth literature review and interviews with eight experts in the field, using a qualitative and exploratory approach. We explored the use of NFTs in attracting a more diverse audience, engaging customers through unique experiences, and fostering long-term loyalty. The findings revealed a shift in NFT marketing strategies from targeting a tech-savvy audience to appealing to a broader demographic. The study also highlighted an increased focus on security measures, user-friendly application methods, and the necessity for expert advisors to work closely with brands for innovative implementation of this new technology.

Citations

• APA

Dupont, S. (2023). How can brands effectively utilize NFTs as a marketing tool to increase customer acquisition, build customer engagement, and establish long-term loyalty? https://dial-mem.test.bib.ucl.ac.be/handle/2078.2/36382