Non-Fungible Tokens & How They Can Benefit Your Small American Business.
It’s highly likely that you are reading this article because you are a small business here in America, and you’re looking for something that can provide you with a new business opportunity. It’s a perfectly normal thing to be doing, and using modern technology to push you ahead of your competitors is time and money very well spent. When people think about non-fungible tokens, they only think about artwork, but they are so much more.
It’s important for any growing business here in the US to build up a customer base and to guarantee itself future success. Customer loyalty is the name of the game, and with that in mind, you can speak to an NFT developer to create a token that provides your business with more revenue, allows you to get a competitive edge, and allows you to hold onto the customers that you have worked hard to get in the first place.
The following are some of the ways that your small business can take advantage of this new technology.
- Start off a loyalty program – It can be difficult to differentiate yourself from many other businesses that offer the same product and service that you do, and at the same prices. By setting up some kind of customer loyalty program and encouraging them to buy an NFT, you can offer your customers a number of incentives, including special discounts, access to products and services that are not on sale yet, and many other things.
- For networking events – The hope is that your business is taking part in such an event on a regular basis. It allows you the perfect opportunity to not only display the products and services that you have on offer, but to meet with new suppliers and current suppliers also. You can create a business buzz by issuing NFTs at a price for coming to the event. This may seem counter-productive because you think that it will drive customers away, but it will have the opposite effect. Those people who have a token to attend can be offered significant discounts across the board, which will far outstrip the amount of money that they pay for the token in the first place.
- For sales promotions – Customers always love something free, but when any business in America tries to set up some kind of giveaway, there are always unscrupulous people who are trying to take advantage of the situation. They make multiple entries into a prize draw, for example, and this reduces the chances of anyone else winning a prize. By issuing a non-fungible token, you control the narrative. It also means that the person claiming to be the winner is actually the person whose name is applied to the token.
- To increase your customer base – you can use NFTs to encourage current and new customers to come through the doors of your business. If you are starting the launch of a new product or service, for example, anyone who has an NFT registered in their name can claim some kind of reward. Depending on the kind of sector that you operate in, this could be something as simple as free breakfast for six months, if you operate within the hospitality industry. The opportunities are endless, and you can use them for your particular business.
- To create new revenue – There may be an opportunity for you and your business to earn some new money by using NFTs. It can be set up in such a way that once the token is sold from one customer to the next, your business will actually get additional revenue. The more of them that you release, the higher the possibility that your business will benefit directly. This is an opportunity that is too good to be passed up.
Just because you are a small business here in America, it doesn’t mean that you have to take a back seat to your much bigger competitors. You can be pretty sure that they are using such things as non-fungible tokens already, so in order to level out the playing field, this is something that your business should look into as well. Do it today, and create new, exciting business opportunities.
