The Ultimate Guide for NFT Marketing Strategy
NFT marketing strategy helps you extend your audience reach, build trustful connections and boost revenue.
NFTs are snowballing, and NFT marketing campaigns are becoming popular faster than greased lightning. It’s still new. Therefore, it’s pretty welcoming for new ideas.
Let the numbers talk:
- The online marketplace OpenSea is now worth $13.3bn after a new investment of $300m.
- NFT trading volume totalled more than $23 billion last year, increasing more than 20,000% in a year.
Marketing strategies are all about getting involved in popular platforms and expanding trends. When you join the party earlier with a good idea, you will have more chances to hit your marketing goals. Just like the growing trend of the metaverse.
Claim your share in this field with our NFT marketing strategy guide.
What is NFT?
NFT stands for non-fungible tokens.
The long version of it doesn’t really help to understand NFT better. Actually, it’s not so complicated. We just feel weird to see people paying lots of money for JPGs or downloadable videos. So first, put your bias down. Then keep reading.
So, let’s cut it into smaller slices to grasp the idea behind it. With non-fungible, we mean you cannot replace those tokens with something else.
Here, we see the difference between NFTs and other cryptocurrencies: You can trade or exchange cryptocurrencies, making them fungible tokens. However, NFTs are a digital asset that has value and can be collected, but as they are unique, they are unchangeable. Like cryptocurrencies, NFTs are bought and sold on specialised platforms like OpenSea.
These tokens can be any kind of digital assets such as any piece of art, video, tweet, website, images, stories you create on social media, and more. And NFTs transform them into unique, verifiable properties to trade on the blockchain.
Here is an example of what we talk about: Twitter CEO Jack Dorsey sold the first-ever published tweet, which says “just setting up my twitter” as an NFT for $2.9 million.
So, what does this buyer buy exactly? The certificate of ownership of the NFT is registered on the blockchain.
Well, I know it sounds a bit crazy, but that’s how NFT works. And people spend a good amount of money on NFT marketplaces, so it is better to develop your NFT marketing strategy.
How to Use NFTs for Digital Marketing?
First of all, quality digital marketing helps your brand shine out in a competitive digital world. And to build a strategic plan, you need to follow the latest developments and changing circumstances.
Here, NFTs come into play. It’s new. It’s interesting. Most importantly, NFTs offer many opportunities for digital marketing.
Let’s learn how NFTs marketing strategies can help brands with digital marketing:
Create Unique Brand Experience
Nowadays, brand experience is why people choose a brand over competitors. NFTs can help you create a unique experience by cooperating with artists and content creators.
What they do in marketplaces is promote your brand through an engaging experience. NFTs create a particular way to communicate with your brand. As a result, you will be more visible, more memorable, and most importantly, more interesting.
Expand Audience Reach
First of all, by joining the NFT marketplaces, you reach new audiences. Ranging from digital creators and art collectors to young or experienced entrepreneurs, diverse communities are there. As it’s new and its real-world value increases, people are ready to engage.
The more NFTs you create, the more people will notice you. And as they familiarise with you and talk about you, these interactions in the NFT marketplaces will enable you to extend your customer base. Reaching more potential buyers means a higher chance to close a sale.
Customers prefer brands that communicate with them. The popular platform for NFT owners is Twitter. Almost all of them have a Twitter account to build a community or share their NFT collections.
By engaging with your audience on a platform they enjoy using, you can also build dialogues and create online NFT communities for your brand. Moreover, building authentic relationships maintains loyal customers, who are indeed the basis of how brands survive in large and highly competitive markets.
Generate Interest in Your Brand
Being a pioneer in your industry helps you get noticed. People like living brands. When you provide new experiences to your online community, you will definitely generate interest in your brand. Accordingly, NFTs will increase conversions and drive sales.
NFT marketing is an excellent opportunity as a growing space. Probably your competitors are not here. Therefore, you will boost brand visibility even with a simple marketing project on these platforms.
Digital marketing strategies for NFTs
As the popularity of NFTs grew, the demand for building an effective NFT marketing strategy also increased. With so many NFT marketplaces, many opportunities to create NFT marketing campaigns for brands emerged. To get the desired result, working with an established NFT marketing agency might be ideal.
You may employ different marketing strategies to promote your NFTs. Here are some examples of digital marketing strategies for NFT’s to achieve their business goals:
That’s the first digital marketing strategy for NFTs to perform if you want to put effort into NFT marketing. Create your unique NFT and make it available on the NFT marketplaces to be listed. Taco Bell has a famous NFT project. Take it as an example. They created a series of NFT artwork inspired by their product. They sold out in under 30 minutes.
This is one of the most important ways to make money through NFTs. And the pleasing side effect is you promote your brand with an enjoyable campaign.
People are more likely to believe in social influencers rather than firms promoting themselves. Therefore, influencer marketing has become extremely widespread nowadays. So, contacting an NFT influencer related to your specialty would be pretty beneficial.
This way, your NFT projects might capture the attention of your target demographics. When cleverly done, believe me, or not, that will pay off enormously. For example, NBA created Top Shot as a marketplace cooperating with influencers, and they got 7 purchases a minute.
We all love organic traffic; however, paid ads are still effective. Paid adverts would provide you with a broader reach and an active online presence including in the NFT world. Therefore, they are indispensable elements in NFT marketing services.
You could use popular platforms like Facebook, Yahoo, Google, and others. Along with effective social media management, and search engine optimization, you can have an active online presence, thus visibility. Make sure you’re financing wisely.
Discord & Telegram Marketing
The basis for marketing your NFT projects to the global audience is building community. And applications like Discord and Telegram help you create bonds with your audiences.
Discord is a real-time communication platform that helps establish NFT communities. It allows you to build servers or channels for conversations about NFT’s. Moreover, you may advertise your NFT projects by sharing memes, GIFs, and other images.
Telegram is a cloud-based communication service with multimedia capabilities, where users can send large files. It’s ideal for reaching out to varying audience segments and providing assistance anytime possible.
Email marketing maintains regular communication with prospective buyers, customers, sponsors, and your intended audience. Sending newsletters, announcements, press releases, and other info to relevant users builds trust in users and boosts business credibility.
Firstly, determine your target audience and figure out where they spend most of their time. Then, you have to collect their email addresses through campaigns, contests, or other ways. Eventually, prepare helpful and attractive content and send them regularly.
With NFT marketing strategies, you can show your brand’s social and creative face. This will help you reach out to more people in an engaging way. As it’s a brand new concept, you can boost your visibility and revenue using NFT marketing campaigns, even with simple ideas. Check our Metaverse marketing for brands article as further reading.