When Mike Winkelmann, popularly known as Beeple, sold his NFT collection for a whopping $70 million in March 2021, it took the world by storm. Last year marked a new milestone in blockchain technology, with NFTs ruling the space. There was the prospect of tokenizing pretty much anything into a digital art, making it unique and valuable. Who wouldn’t want to jump in?
From collectors and sellers to traders and resellers, a lot of people started jumping aboard the NFT bandwagon. This frenzy has also given way to endless NFT brands or projects. Many NFT brands have grown to new heights lately, launching something new and unique. All these projects look to social media platforms to educate and engage their audiences.
Therefore, social media marketing plays an integral role in making or breaking these NFT brands. While there are always traditional ways of marketing, NFT is a domain which requires some extra efforts because of the niche audience it appeals to.
Thus, in this blog, we’ll discuss how NFT sellers, brands, or projects can market themselves on social media. Also, brands can learn about the many ways they can use NFTs to engage their followers and enhance awareness. So, let’s first take a look at the basics of NFT marketing and the role of social media.
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What is NFT Marketing?
If you own a NFT brand, you definitely want the world to know about it. Your brand’s USP is what sets it apart from others in this space. OpenSea is among the most popular NFT marketplaces and it recorded a monthly volume figure of more than $3 billion in August 2021.
While these numbers may appear to be massive, the number of people associated with them are not. However, OpenSea managed to achieve this feat with the right marketing strategies in place and social media played a major role in it.
NFT is a constantly growing domain and marketing brands in this space is also about adaptability. In other words, NFT is a space for a niche audience which collects digital artwork, music, videos, memes, etc, in exchange for cryptocurrency. Thus, targeting such an audience can be a tedious task. This is where social media comes into the picture.
With the help of social media, brands can promote their products and services, collectors can learn about new offerings, and enthusiasts can learn about the NFT domain. Social media marketing offers this and much more unlike traditional marketing methods.
So, let’s take a look at how NFT social media marketing is different.
NFT Marketing on Social Media is not like Anything Else
As mentioned earlier, the core concept of NFT marketing is similar to that of any other product. However, how you reach, engage, and convert your target audience is what brings the main difference. It is, therefore, essential for NFT brands to build a target audience, engage them, and convert them into paying customers.
In order to succeed at social media marketing you need to use diverse content across different marketing stages. Moreover, having a social media strategy beforehand can prove to be highly beneficial. So, here are some steps that are critical for the success of your NFT marketing strategy on social media.
Building Relationships in the Community
Building and growing healthy relationships in the community is the best way to promote your NFT brand. The main objective behind private forums and groups across social media platforms is to engage the target audience. Overall, promoting your product and engaging the community is what NFT communities on social media is all about.
Also, you can easily get a better understanding of and connect with your target audience by joining these NFT groups and forums. The NFT Community group on Facebook has more than 80,000 members. It is among the largest NFT communities on Facebook for collectors, sellers, and artists where they can easily promote their NFT brand.
On the other hand, the Metaverse Watchdogs group on LinkedIn has over 30,000 members. It is the perfect place to market your brand along with learning about the latest developments, making connections, and showcasing talent in the NFT community. So, it is essential that you join such NFT groups and forums in order to connect with and engage your target audience.
Educating The Audience
While many people want to get into the NFT space, most of them don’t really understand how NFTs work. So, if you want to attract more people, educating them about the domain and your NFT brand should be among your top priorities.
Many experts in the domain feel that NFTs are the future for all unique and creative works. If that is indeed the case, the need to educate consumers about the NFT space will also grow substantially. You can spread awareness about the domain with help of NFT social media marketing.
TikTok and Instagram are among the best platforms to share educational content while also promoting your brand. The @nftnow handle on Instagram educates creators on how they can use NFTs to up their game. Similarly, the same firm shares simple and quick educational videos with musical background and text overlays on TikTok.
Many people are still unclear with the concept of NFTs and how to purchase or sell them. These people may be your target audience if you provide them with relevant information about the domain as well as your product. So, you should use social media platforms like TikTok and Instagram to share short how-to videos and tips for beginners in the NFT space.
Partnerships and Collaborations
Creative partnerships and a good team are what lead a brand to success. However, marketing is not everyone’s cup of tea and promoting NFT brands is even more complex. This is where you need some extra effort and help. If you want to succeed at the social media marketing game, you need to team up with marketing professionals like Blockwiz who can even help you connect with genuine social media influencers.
Such collaborations can make things a lot easier for you as marketing firms bring expertise and experience to the table. On the other hand, influencer marketing allows you to reach a larger audience. Overall, you can boost your brand visibility and traffic with such partnerships.
These are some of the key factors to consider when it comes to NFT social media marketing. However, there is always room for a deeper understanding which is why it is essential to learn some practices to market your NFT brand better. So, let’s get into the thick of it.
Best NFT Social Media Marketing Practices
Now that you know what NFT marketing and its key aspects are, it is time to dive deeper. So, here are the best practices that can help you from building an audience on social media to converting them into NFT sales.
Building a Target Audience on Social Media
Many NFT brands use growth-hacking and grassroots campaigns to promote their brand. However, social media is where you can easily connect with the audience you are targeting for your NFT brand. So, here are some tips to build and grow an audience of NFT newcomers and enthusiasts on social media.
1. Starting with Twitter
Twitter is the perfect place for promotions and discussions. NFT sellers and creators regularly share insights about new and upcoming projects. For example, Cory Van Lew tweets a short story along with an image or video of the artwork which is about to go on auction.
Apart from this, enthusiasts even involve in lighthearted, casual conversations and share meaningful information. Therefore, your NFT brand should have a strong Twitter presence to promote and engage to build an active and loyal follower base.
2. Teaming Up with Influencers
Influencers can be of great help when it comes to marketing your NFT brand on social media. They have a huge following across different platforms. Thus, they can easily promote your brand and help you reach your target audience. Even if you are on a budget, you can collaborate with micro-influencers.
While their follower base is usually below 100,000, they can still offer high engagement rates. Also, you can even look up NFT enthusiasts who have a following of 10,000-50,000 on Twitter. Such influencers engage their followers with a variety of content and, therefore, can help your NFT brand as well. Check out this blog to learn more about how you can use influencers for your brand.
3. Monitoring Competitors
The NFT domain is growing constantly and different brands use various marketing strategies that help them achieve their marketing goals. Thus, constant monitoring of your competitors can help you create effective promotional content in accordance with the latest trends. Also, you can understand how influencers are promoting your competitors’ brands. This can further give you an idea about how distinctively influencers can help your brand.
A thorough social media audit of your competitors can help you understand the responsiveness of your audience and plan better campaigns. You can easily go through their social media profiles to know what type of content they share. Also, you can find out the type of posts and social media strategies competitors use to keep their audience active and engaging. Overall, keeping tabs on how your competitors are marketing themselves can help you market your NFT brand better on social media.
4. Marketing Across Different Social Media Platforms
While Twitter is one of the best platforms to trigger discussions, it is always a good idea to use multiple social media platforms to reach a larger audience. Also, promoting your NFT brand across different platforms can help boost visibility and awareness.
So, be sure to check out NFT communities on Discord Facebook, TikTok, and Instagram apart from Twitter. These communities can help you get an idea of how you can market your brand on multiple platforms. For example, you can introduce people to your brand via Instagram Stories.
Moreover, you can share updates about your brand and educate your target audience about NFTs with the help of short videos using Instagram Reels and TikTok.
Engaging Audience on Social Media
Building and growing an audience around your brand is futile if you are not engaging them properly. If you are not sharing meaningful, engaging content with them, it won’t be too long before they forget you. So, here are several tips that can help boost engagement.
1. Telling Stories
NFTs come to life with good stories which in turn help your brand stand out. You can share stories about how an NFT item was developed, its creator, or create a fictional background story about a character or collectible.
CryptoKitties is a good example of how you can tell stories around your NFT brand. Their posts usually include quotes from their characters. Similarly, you can also incorporate storytelling in your marketing strategy to attract more people towards your brand.
2. Holding Giveaways and Contests
NFTs can come in quite handy when it comes to giveaways and contests. You can offer special or limited edition NFTs as prizes to your audience for participating in contests and giveaways. Announcing the same across different social media platforms will enhance engagement and might also bring in new customers.
Chill Ape Club held a giveaway of $100 thousand along with a rare NFT in November 2021. All participants had to do was follow Chill Ape Club on Twitter, join them on Discord, like and retweet the giveaway post, and tag their friends to gain extra entries.
You can hold similar giveaways and contests while offering exciting prizes to your audience. This will take engagement in your NFT community to the next level.
3. Creating Viral Content
TikTok is among the most used short video platforms across the globe. However, not too many brands utilize it to promote themselves. Thus, it presents a great opportunity for marketers to get past the competition they may encounter on other platforms. You can attract a lot of people by creating and sharing viral content across such platforms. Head here to learn how you can create a viral video for your NFT brand.
4. Responding to Social Media Comments
It is natural for followers to comment on your posts and ask questions about your brand or anything related to it or the industry. This essentially provides you with endless opportunities to build a human connection with your followers. You can take their feedback and suggestions into consideration, solve their queries, or simply engage in healthy discussions. Overall, responding to your followers on social media is essential if you want to maintain your engagement rate.
5. Using Analytics to Guide Content Strategy
By keeping tabs on your social media insights and metrics, you can easily find out what triggers conversations and discussions among your followers. With this data, you may find out the time of day you can get the most engagement from your followers. It’ll then be easier for you to schedule future posts to boost engagement.
Posting times can significantly affect the engagement of your content on platforms like Facebook, YouTube, and Instagram. Additionally, you can find out what type of content leads to higher engagement rates. Overall, it is essential to keep tabs on social media metrics to maintain engagement.
Converting Social Media Audience
Now that you have an engaged audience across different social media platforms, it is time to turn them into customers. Trust plays a significant role in converting social media audiences to paying customers or email subscribers. So, here are several tips to build trust with potential consumers.
1. Providing Social Proof
Sharing positive communication, comments, and press about your NFT brand can boost faith among your audience. Healthy feedback acts as social proof which may further cause people to invest in your brand. Social proof even helps establish you as a reputable, legitimate brand in the industry. So, be sure to share such content with your followers to build trust.
2. Sharing Creative Process
Like any other industry, scammers are present in the NFT space as well. However, sharing videos and images of some of your NFTs’ creative process can help establish authentic ownership. Apart from that, such videos, images, or storytelling can substantially enhance your marketing strategy, including engagement, awareness, and conversions.
3. Including Action-Oriented CTAs
Add CTAs (calls-to-action) and links in all the content you share on social media. Provide your viewers with information about where and how they can buy your products and services. This will make it easier for your followers to make purchases as they develop enough interest in your NFT brand.
4. Livestream Events
You can livestream special events around your brand like creator interviews, roundtable discussions, auctions, or new releases. This will keep your audience engaged and also help establish your brand as a legitimate one. Furthermore, it can help attract more people to your brand while also boosting the conversion rate.
5. Promoting Upcoming and New Releases
Teasing about upcoming and new releases with short clips of hints about the product or creative processes can help your brand succeed on the release day. Once your product is out, you can let your audience know about its release with different types of social media content like text posts, images, videos, etc. Creating buzz around the release of new and upcoming products with advertising and promotional teasers can help enhance your sales conversions.
6. Working with a Marketing Agency
By now you must have understood how complex NFT social media marketing is. With so many aspects to take care of, you are bound to miss out on a few. It is, therefore, always a good idea to work with a marketing firm to handle all the aspects of social media marketing. After all, agencies have years of experience in the domain which can help your NFT brand to grow to new heights in no time.
Using NFTs to Boost Engagement and Brand Awareness
NFT marketing is not only meant for NFT creators, sellers, brands, or enthusiasts. Many brands have been using NFTs to promote their tangible products. For example, Taco Bell stepped into the NFT space last year by offering 5 NFT collections themed after tacos. Each of these collections included 5 pieces of taco arts worth $1.79 each.
Those who bought NFTacos worth less than $2 earned thousands of dollars by reselling them. Therefore, brands that offer tangible products can also use NFTs for promotional purposes. This clearly shows how versatile the NFT space is and why more and more people across the globe are stepping into it.
The Key Takeaway
Social media marketing is critical for NFT brands just as it is for any other product or service. However, it requires a certain level of expertise in both, NFT as well as marketing domains. While one can learn about these domains by watching videos or reading about them, proficiency comes with experience.
So, if you want to promote your NFT brand, get in touch with our growth experts who can help you strategize a successful social media marketing campaign. It is always better to work with seasoned players in the marketing domain like Blockwiz who have a proven track record. Therefore, if you want your NFT brand to grow in every aspect, now is the time to act on it.