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How To Take Control of Your Brand Community With A Token Ecosystem.
Interconnect your community with your own Digital Token and drive engagement with high-frequency interactions.
Traditional marketing wisdom has it that a successful social media campaign can do wonders for your brand. An ever-increasing list of Twitter followers and a growing Facebook community promise to give your business greater exposure. The expectation is that somewhere down the line, this will translate into more revenue and profits.
Unfortunately, it may not work that way.
A giveaway contest with an iPhone as the prize could lure thousands of people to start following your social media accounts. But are these genuine fans or only individuals who hope to win an expensive freebie? People who engage with you to gain a short-term advantage won’t help you achieve your goal of establishing a community-driven brand.
There’s another problem with building a community on Facebook, Twitter, or Instagram. The social media platforms that you promote your business on own your network of customers and fans. Not you.
Fortunately, there’s a solution.
Brand Tokens Offer a Way Out
What’s a Brand Token?
Think of it as an intelligent online engagement and payment system that can be tailored to your specific requirements. Here’s what you can do with your own branded token:
Connect seamlessly with your customers across gaming, social media, messaging and payment platforms. You regain control of how you interact with your brand community wherever they are.
Offer incentive and rewards to your community. Customers can use your branded token as a substitute for cash within your designated ecosystem of stores, restaurants, gaming sites, stadiums and payment platforms.
Branded tokens can even be a source of revenue. In some jurisdictions, you could sell tokens to your community. These can be used in the same manner as the tokens that are earned as rewards.
Remember that the success of your brand depends upon the excitement it generates within your community and the frequency with which your customers and fans engage with your brand. And a branded digital token with a customized reward and payment ecosystem can give your brand-building efforts a solid boost.
One of the greatest advantages that branded digital tokens offer is that they can be integrated with your existing mobile or web apps. Customers could earn rewards in the form of tokens every time they carry out a specified activity.
For example, a streaming platform could provide a specific number of tokens for each stream or each review written. Or a professional sports team could allow its fans to earn tokens through its predictive gaming platform and spend those tokens online, at brand partner stores or in stadiums.
There’s another crucial benefit for companies that include branded digital tokens in their strategy to connect with customers. The system is built on blockchain technology. This allows seamless integration with existing infrastructure like PoS and mobile apps. The blockchain-based backend permits brand tokens to be easily transferred between clients, vendors, and users, fully traceable with permissions developed by the creator of the brand token.
The bottom line
Getting your social strategy right is a prerequisite for building a strong brand. And a digital token can provide the perfect means for doing this. The added advantage is that a branded token could also provide you with a new revenue stream while helping you establish a robust two-way communication channel with your community.