by Alex Abrams, Director of Customer Success, Web3 Pro
The Consideration stage follows the Awareness stage in the buyer’s journey. Here, the potential customer has determined that he has a desire or need to be resolved and is researching, comparing, and considering alternative brands as his solution. Awareness has brought attention to the pain point and he is now in the mode of research and contemplation.
Perhaps the buyer is comparing Brand A versus Brand B. The Brand A marketer’s goal is to motivate the buyer toward the decision to purchase Brand A. The potential customer may be comparing the price and value of Brand A versus Brand B, or whether to purchase at all versus the alternative “do nothing” option. An extension of this quandary is the question of whether to buy sooner or later.
Brand A marketer may want to build greater trust with the buyer, show clear differentiation and value, and to potentially create urgency for the purchase without pushing too hard. The Consideration stage of a contest of value: Which brand is better for buyer’s total experience.
Take note of some brand strategies in the highly competitive consumer TV market. Mostly, brand awareness is not the main concern for today’s TV manufacturers. Nearly everyone is aware of the big brand names: Sony, Samsung, LG, Vizio, and Insignia. Form factors, features, warranties, and pricing are all confusing enough for some buyers that they remain in the Consideration phase for months.
Leveraging the uniqueness and attractiveness of NFTs is a brand strategy for potentially adding value to the buyer’s consideration.
For many consumers, paying hundreds or thousands of dollars for a big-screen television can be a journey that lasts for months. The Consideration process of researching prices, comparing specifications, reading reviews, and shopping multiple retail stores can slow the progress toward the Decision.
LG is now using NFTs in an attempt to add differentiating value. For US customers with a webOS 5.0 or later TV, LG is offering access to its new LG Art Lab platform. This platform is a marketplace for buying and selling NFTs directly through the TV’s home screen. A countdown feature reminds the customer about upcoming NFT drops.
LG’s latest action is likely in response to Samsung’s early adoption of NFT value. With Samsung’s feature, users can view promoted NFTs for free and display their purchased NFTs in full screen mode. This unique viewing experience has no restrictions or watermarks
Not to be out-marketed, Sony partnered with Theta Labs to launch a limited-edition NFT collection that creates the sensation of solid 3D objects without any accessories. Sony’s tablet-like device displays 3D visuals in semi-physical augmented reality, an experience that requires no VR goggles or other accessories.
Many other brands in other industries are also focusing on the benefits of the NFT experience. One example is Afterpay, a purchase-now-pay-later company, which has partnered with New York Fashion Week to offer exclusive merchandise and in-person experiences. Another case study can be found in Gary Vaynerchuck’s Flyfish Club. This is the world’s first NFT restaurant, giving members access to culinary, cultural, and social experiences.
Generate Interest with an NFT Marketing Firm
Web3 Pro is a leader in developing marketing campaigns to launch digital media and NFTs. We’ll help you identify ways to create buzz and generate preference in your customers’ consideration phase.
