Hospitality Industry

Are you launching a new venue, service or product or maybe re-launching an old one? Are you looking to raise awareness around your brand and boost consumer loyalty? Do you need to give special access to your customers or create an exclusive community? NFTs as a new marketing tool will help you go a long way towards achieving your goals.

NFTs are redefining digital asset ownership. We used to think of digital assets as files that could be copied and shared endlessly. But with NFTs they can be one-of-a-kind, scarce, and valuable items whose authenticity can be verified, and they can thus be sold many times over. Because NFTs are unique by design, organizations can build unique experiences for their customers that may be more engaging than existing traditional methods.

More and more brands are using NFTs to up their marketing strategies, adding excitement and attracting the attention of the public. Yet, in most cases, in order to engage, you would need to own cryptos with only a limited percentage of the global population currently being crypto savvy.

However, it is possible for anyone with an easily downloadable Web3 wallet to receive your brand’s NFTs without the need to engage with cryptocurrencies or have any prior understanding of NFTs or blockchain, and still enjoy the unique experience your brand wishes to provide.

NFT technology gives the opportunity to an organization, regardless of size or financial muscle, to develop a one-on-one communication line with its clients in periods when consumer loyalty is often low.

Here are some examples of how companies within the hospitality industry can uplift their marketing strategies through NFTs.

New Product Launch

Celebrate the launch of a new restaurant or special plate on a restaurant’s menu with a collection of NFTs. The NFTs could be created by a well-known artist, inspired by the launch. Partnering with popular artist will increase the virality of the promotions, add value of the NFTs and excite clients’ engagement.

Invite people to engage with the brand on social media platforms to get an NFT and a chance to win bigger prizes following a draw, along with additional exclusive NFTs. The competition could be advertised in the press and on social media in parallel with the launch announcement.

These NFTs could also set in motion a direct communication line between the establishment and its customers. Attaching certain benefits, such as booking priority, discounts, or prizes to the NFTs, will maintain the engagement between the brand and the customer.

Enhance Customer Loyalty

NFTs enable brands to build a personal relationship with it’s customers and increase loyalty by opening a direct channel of communication. A hotel or chain of hotels, for example, could use NFTs to create an ongoing relationship with customers, adding extra value to their stays. The NFTs would serve to reinforce the community feeling surrounding the brand and create a sense of belonging for its customers. 

The program could be laned as below:

  • As a start, a simple NFT could be given to any person staying at the hotel for a certain number of nights. The NFT will grant benefits such as discounts for next stay and prizes after a draw, hence, creating the first level of engagement.  
  • The program could then be developed to something more advanced. Over a certain number of collectively staying nights, a customer receives a higher grade of NFT (Bronze, Silver, Gold, Platinum) with more benefits attached to it.
  • For special occasions, such as honeymoon stays, NFTs can be minted of the actual room the newlyweds stayed in, with a new one sent on anniversaries thus building a valued collection and retaining the relationship with the client (which would be more appreciated than an email or card or other fungible means).

Unlike loyalty points, there’s an open market for trading NFTs, granting holders the opportunity to cash in on their collections.

All of this can be linked to the company’s existing Reward Program.

The idea of Tokenizing room availability in the form of NFTs, is something that hoteliers should start considering. Having the ability to sell the NFT of my stay at a hotel for a specific period to someone that is willing to pay me my cost plus, will not just make me and the buyer happy, but also benefit the hotel as they could build into the smart contract a percentage for them on a future sale of the NFT.

NFTs for Access

We have witnessed hotels shifting from using metal keys to using plastic card keys. While losing metal keys could be disastrous due to the restricted number of copies available, the use of plastic card keys creates different issues such as the burden on the environment or more practical issues when the access code is accidentally erased.

NFTs could instead be programmed and used to provide access to the hotel room for the duration of the stay. NFTs can also provide access to facilities at the hotel, such as saunas, gyms, and VIP areas. At the end of the guest’s stay, it can be retained as memorabilia. The usefulness of it can extend beyond the stay, as the NFTs could serve as a tool to keep engaging with the customer through the wallet.

Community Building

Who wouldn’t want to be a member of a community that shares their passions and values and be awarded for that? Scarabeo, is an entertainment venue, talent promoters, hosts of live events, and all-round art lovers with a big number of devoted followers.

The brand created an NFT project, a social application that aims to harness the limitless potential of blockchain technology to create a community-driven, well-functioning economy that rewards participation, effort, creativity, and networking. Scarabeo intends to release 3 types of NFTs. The Silver Beatles, Rare, and Super Rare NFTs, each unlocking a separate level of benefits for the holders. The participants will be rewarded for their level of loyalty to the community by receiving a lifetime access to all events, free invitations, free drinks, and game access among other benefits.