The NFT industry is booming and getting saturated every day. In the past few years, NFTs have grown into a multi-million dollar industry. However, creators and project owners continue to face hindrances in making their collectibles visible to NFT fanatics. In the face of escalating NFT competition, they fail to attract new customers for their artwork.
Let’s face it, selling NFTs is not that easy, especially in the current economic environment and rising competition. With so much competition saturating the field, it’s quite hard to help your project shine organically. However, a strong NFT marketing strategy can help your project succeed. So, let us dive deep.
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The Need for NFT Marketing Strategies
Projects spend numerous days creating the perfect NFT Collection, but what they sometimes miss out on is creating an engaging community. Unsurprisingly, many projects are yet to sell any NFTs from their collections despite their uniqueness and rareness creating a renewed interest and vibrant community in the market.
That’s where the need for an efficient marketing strategy comes into the picture. Developing a marketing plan without a clear objective in mind is an impossible task. Understanding your objectives is the first step to developing an effective marketing strategy. Once you have identified your marketing objective, building a strategy that helps you achieve your desired goals becomes easier.
Two excellent NFT marketing examples are Ray-Ban and Gucci’s launch of exclusive NFTs. Besides their big names, the right NFT marketing strategy to create the buzz needed to grab eyeballs, including social media and influencers helped them gain traction among buyers. A comprehensive marketing plan can help projects expand their community footprints, boost sales, and gain popularity in the competitive market.
Here are some objectives for NFT projects that can help you build a defined marketing strategy for your brand:
- Attract creators and artists to be a part of your brand
- Boost Sales
- Lead Generation
- Build Brand Experience
- Increase Customer Lifetime Value
- Reach Target Audience
Let us now look at the basics of the best NFT marketing strategy to achieve your marketing objectives.
The Fundamentals of an NFT Marketing
An ape token of Bored Ape Yacht Club was sold for $2.85 million ( Value of 1080 ETH) in January 2022. The sale happened on the LooksRare NFT platform. Currently, OpenSea is bidding BAYC for a floor price of 1080 ETH.
How has the value of an art collection first minted at the cost of 0.08ETH skyrocketed? The increase in popularity can only be achieved with efficient marketing efforts. Learn deep insights into NFT marketing strategy in 2023 to initiate a sales explosion in the NFT collection.
1. Know Your NFT Project
Understanding your project can make you set your long-term and short-term goals. Check your NFT rarity ranking based on the traits with any rarity tools. Also, identify the target market. Most members of the community of NFTs are traders and artwork lovers. But specific super rare collections like World of Women NFTs have attracted new women to the project by marketing that women are only 5% of the total NFT market.
Develop a base model before starting.
Identify your primary competitor and do a SWOT analysis.
Marketers must communicate the uniqueness and rarity of their artworks.
The remarkable benefits the holder can get from owning your collection.
Leverage the NFT market trends to decide your marketing goals.
Budget every step of your marketing effort.
2. Drop Your NFT Collection with a Hype
The demand for NFT largely depends on the hype of its launch. A good press release can create buzz and engagement. Create an eye-catching press release and distribute it with all the popular crypto and NFT media outlets out there. PR helps make the first impression among the target audience, making your collection instantly discerned and viral.
List your collection of rarity tools to get recognized, establish social media channels, and run give away before airdrop. The more excitement you create, the more it will get absorbed into the psyche.
3. Build an Amazing Website
Anyone purchasing an NFT is highly likely to pay a visit to your official website. They will check the project team and offering. Standard websites, which feature the details of your collection, your investors, and a roadmap, help reinforce your project’s legitimacy. It should be colorful and attractive. Make the team members and artwork visible to the public.
4. Develop an Exciting Roadmap
An NFT roadmap is a clear vision of the goals and milestones of the project. It communicates the long-term value of NFT collection. Although investors are concerned about the non-fungibility of artworks, a long-term roadmap will convince them about their future value.
The NFT roadmap allows marketers to project the future benefits holders receive. It projects what the developers or the project team will do with the profit in the future. Hence, project developers and marketers use roadmaps as a strong marketing plan.
5. Add Utility to Increase Value
NFT is just artwork, but if the project team provides additional utility and benefits upon purchasing a token, it will attract the buyer. BAYC has started the trend of offering other perks on NFT purchases. Anyone who owns a BAYC ape is a Bored Ape Yacht Club member. They have exclusive access to member-only areas, games, and entertainment events.
Most new NFT projects are coming forward with additional benefits and perks for investing in their artwork. Recently launched Yubo Randos NFT collection of Yubo social media live streaming apps also planned to provide other benefits to Yubo Rando’s owners.
6. Select the Right Marketplace
The growing NFT phenomenon gives rise to multiple NFT markets. Listing in a legitimate marketplace is essential to prove the authenticity of your project. To avoid major NFT scams, you should list your collection on a popular NFT platform with a verified seller identity. Some legitimate platforms that can generate high sales are listed below.
|OpenSea||Largest NFT marketplace offers a wide range of NFTs, including art, gaming, and collectibles. It has a user-friendly interface that allows for easy buying and selling of NFTs.|
|Nifty Gateway||Offers exclusive drops from well-known artists and has a user-friendly interface. Supports payment methods, including credit cards and cryptocurrencies. It also allows for easy trading of NFTs on the secondary market.|
|SuperRare||Focuses on high-quality art NFTs, provides a curated selection of NFTs, and has a community of collectors and artists. It also has a unique auction system for selling NFTs.|
|Rarible||NFTs include art, gaming, and music. It allows for the easy creation and minting of NFTs. It also has a decentralized approach, allowing for more freedom in transactions.|
|Foundation||Focuses on art NFTs, has a curated selection of artists, and provides a bidding system for selling NFTs. It also allows for social interaction and engagement within the platform.|
|Binance NFT||It has a user-friendly interface supports multiple payment methods and allows for easy trading of NFTs. It also has the backing of the well-known cryptocurrency exchange, Binance.|
Here is a list of criteria for selecting an NFT marketplace.
- Total traded volume
- The number of active users
- Top sales history
- Premium collections listed
- Transaction charges
- Supported wallets
- Ease of operation
7. Create Your Presence in NFT Calendar
NFT calendar is a platform that notifies every airdrop in different NFT marketplaces. Ensure all your airdrops are listed with NFT calendars to reach potential collectors and communities. Fill out a form to list in the NFT calendar. You can enter all the necessary information carefully and submit it back. Do not make any mistakes or get confused on the following factors while filling.
- Title of your art collection
- Information about artists
- Date and time of release
- Listed market platforms
Those, as mentioned earlier, are some of the essential aspects of NFT marketing. Now that you know the basics, it is time to look at the top strategies.
Best NFT Marketing Strategies to Follow in 2023
The most fundamental aspect of marketing your NFTs is the unique selling proposition (USPs) or your brand. Talking about your differentiators is a fantastic approach to start in any industry. So with that in mind, we now get into the best NFT marketing strategies for your NFT project.
1. Social Media Marketing
Social media is the backbone of every marketing plan. You can leverage maximum advantage from social media for NFT marketing. Predominant social media platforms have tremendous potential to market your collection. They help directly connect with NFT artists, collectors, followers, and marketers.
Add proper social media strategy to your NFT marketing and execute the same to build a follower base. Ensure your social media presence before launching your project. You can create an official brand account on all social media platforms and encourage followers through posts and videos. Do not forget to update and engage with your social media handles.
Twitter is the most professional and reliable social media platform to market your NFTs. Most NFT projects use Twitter to announce updates and initiate initial chatter around the uniqueness via the microblogging platform. So posting on Twitter with a powerful hashtag helps to reach the NFT community quickly.
Twitter also has numerous NFT collectors with a vast fan-follower base. Networking with them can also get public attention for your artwork. Listed below are some of the famous NFT collectors accounts on Twitter.
- Starry Night
- Museum of Crypto Art
Facebook and Instagram are also predominant social media platforms where NFT fanatics, artists, and collectors build their communities.
2. Influencer Marketing
Influencer marketing brokes the boundaries of traditional marketing practices. The fastest-growing influencer marketing can help you get endorsements for your project and show your collections to their large social media followers. Influencers provide quality content and host excellent marketing shows on YouTube. Hence, NFT marketer connects with top NFT influencers to promote their collection.
If any celebrity or influencer owns artwork in your collection, it is the best way to promote your work. You must find a top influencer who can effectively promote your collection to their large follower base.
Here are some of the most famous NFT influencers you can approach:
- Crypto Baristas
3. Giveaways and Competitions
NFT projects announce giveaways on their social media channels which ask the participants to like, share and follow their project to participate in giveaways. You can conduct different contests to project followers and digital artists worldwide.
For instance, every month, the World of Women NFT team selects seven amazing digital artists globally, and one outstanding artwork gets minted as an NFT. These minted artworks are airdropped to existing WoW token holders.
Through the competition, they support artists, encouraging artists to join their project community. Moreover, every month they give perks to existing WoW holders. A random winner is picked every month from the pool of WoW holders. Such excellent promotional techniques help projects to capture sudden public attention.
4. Content Marketing
Content marketing is an effective method to make your NFT visible to the public. Promoting educational content about NFTs that includes art creation, NFT minting, NFT sale, scams, selecting an NFT, and how to value an NFT artwork will help you to establish yourself as a thought leader in the industry.
Furthermore, you can make video content on NFTs. Giving detailed informational answers on community-based platforms like Reddit and Quora is another method of projecting your NFT collections through content.
Many popular NFT projects took the initiative to teach their community and fanbase about NFTs. For instance, you can see a learn tab if you explore the Boss Beauties NFT collection. If you tap the button, it will take you to a learning page dedicated to NFT. Any visitor who is not much aware of NFT can learn about them.
5. Search Engine Optimization (SEO)
You need to know the proper keywords for your search engine optimization strategy to get the right results for digital marketing. These keywords will help your target audience find your NFT project rapidly in the NFT market space.
However, NFT Search Engine Optimization (SEO) involves more than just keywords; it also encompasses a variety of approaches, strategies, and techniques for improving a project’s ranking on SERPs. On-site SEO, off-site SEO, content marketing, link building, guest blogging, local SEO, and other SEO tactics are among the most popular SEO strategies used by well-established brands.
Optimize your website and landing pages frequently to ensure ranking. NFT projects that use SEO will rank higher in search engine results pages and improve their reputation over time. Therefore investing in the right SEO services will help your project not only to achieve short-term goals but also quickly achieve long-term goals.
6. Press Release
Press releases can assist you in attracting investors, generating interest, and building public relations for your collection. It can also be used to generate leads for your business. Digital artists and graphic designers can boost credibility by constantly issuing press releases on numerous media outlets and websites.
This is one of the most tried-and-tested marketing methods to enhance the hype of collections, especially while launching and listing. That is why people keep returning to press releases for every new project update.
7. Community Marketing
Community is one of the most enticing aspects of a successful NFT collection. Creating a community for your brand is imperative. You can build and grow an NFT community on top social media platforms like Telegram, Twitter, and Discord. Social media is critical for connecting with your target audience in the digital age.
Furthermore, to maintain a long-term relationship with your audience, businesses should engage with their community and provide value addition to extend and retain the community. Tell community members about current industry trends and converse with them about your offerings.
There are NFT collections in which holding an NFT act as a community pass or membership, granting holders exclusive access to an online social club or premium amenities like limited edition drops, among other things.
You may also opt for community building and moderation services of NFT marketing agencies like Blockwiz, which will help you take off your burden of community management and instead allow you to concentrate on your business efficiently.
8. Paid Promotion
PPC allows you to target potential NFT collectors based on keywords, demographics, and geographic location. PPC advertising can generate traffic and leads quickly compared to other marketing techniques. NFT projects can use PPC to promote their new NFT drops or auctions to reach potential buyers and collectors.
9. Host AMA Sessions
Ask Me Anything (AMA) is one of the most effective marketing strategies the NFT project team can follow. Besides spreading your project, it allows for building a direct relationship with the customer.
A FAQ tab on your website will answer the basic questions about your project, but AMA can help you clarify any doubts about your digital collectibles. It aids in providing more information about your project to the community and target audience.
10. Hire an NFT Marketing Agency
Contrary to typical belief, hiring a marketing agency is more cost-effective than experimenting with different NFT marketing plans. When you hire an agency, they will ensure success in all the perspectives for your project. Here are some advantages of hiring an NFT marketing agency.
- Develop the best NFT marketing strategy to expand visibility
- Extend the community through the community moderation techniques
- Increase demand for tokens
- Boost floor price
- Work to ensure ROI
They will keep uplifting your project till you need it. Popular marketing agencies like Blockwiz can help you with an end-to-end NFT marketing plan for your NFT initiative. So, contact the NFT marketing experts to boost your project’s success in the competitive NFT space.
Through honest and transparent procedures, a successful NFT marketing approach allows you to build credibility and reach a large audience. A marketing strategy helps establish brand loyalty and long-term customers with a defined path to pursue and a simple way of conveying your value to others,
Blockwiz offers a variety of NFT marketing services. Their team of marketing experts, content creators, and NFT wizards can work together to meet all your unique marketing needs. So, get in touch with Blockwiz if you need help to promote your collections.