NFTs and cryptocurrencies have become a significant part of everyday life, but you might still need advice on how to promote and sell your NFTs effectively. We see NFTs in news headlines all the time, so it’s even more important these days to learn how to make sure your NFT stands out.
As the NFT market grows, it also offers up new investment opportunities for investors. When you develop NFTs, getting them in front of the correct audience is crucial. To promote your NFT collectibles, you must use top-notch marketing tactics.
This article will look into how to go about NFT marketing effectively. Before we dive into that, let’s look at why NFTs developers even need to bother marketing to potential buyers.
Why is it necessary to market NFTs to potential buyers?
The goal of NFT creation is to gain authority and ownership over the authors’ original work. NFT trading, on the other hand, is primarily concerned with producing profit. You’ll need to use standardized NFT marketing tactics to encourage people to trade NFTs. Several factors determine the success of NFTs. To begin with, the NFT should be unique and uncommon enough to appeal to a big audience.
The most popular NFTs are rare digital creations, so the ones you develop should be appealing. Take, for example, the CryptoPunks, a collection that has gained a reputation in the market for providing consumers with a wholly unique experience.
In addition to being unique, your NFTs must be well-crafted. Finally, the marketing techniques you employ for your non-traditional NFTs will make or break your success. You’ll need the appropriate mix of marketing methods to get you over the bump.
You’ll need people to buy pieces of your NFT collection once they’ve finished viewing it. To get people to buy your NFT art, you’ll need to work with an NFT collectible marketing agency. They will be in charge of organizing campaigns to promote your NFT collection. This will attract new investors to your NFTs and establish a foundation for future trades and collaborations.
Understanding NFT economics
Before you begin the marketing phase, you must decide whether you’re launching an entire collection of NFTs or just a single NFT. The rarity level of your NFTs will be pretty high when two or more NFTs are combined and offered as a collection. You can provide your customers with a variety of alternative options for flexibility and convenience. Furthermore, you can pay royalties to your NFT holders.
You can also grant privileges to the holders, such as allowing them to vote on future enhancements to the collection and allowing them to join the community. You can use this community as a platform to interact with both current and potential buyers one-on-one. You can also hold a special pre-sale for the members of this community of buyers.
How to create your own NFT marketing strategy
The success of your NFT is primarily determined by how successfully you advertise it. To promote your NFTs, you’ll need to learn about the best marketing practices. In a way, marketing must reach the right individuals at the right time. It’s sometimes necessary to imagine yourself bidding on or purchasing an NFT. This will help you put yourself in the shoes of your audience.
1) Understand the potential audience
Not everyone who sees your NFTs will buy them. You must target them at the correct demographic to avoid wasting resources on marketing to a whole new group of people. You can establish an audience of people interested in the crypto world. Make sure, however, that your target audience exhibits the right characteristics. Imagine being unable to sell your NFT to someone with no prior knowledge of blockchain or cryptocurrency.
2) Reach out through public channels
Following the identification of your target audience, the next stage is to determine the most successful methods through which to communicate with them. It will be beneficial if you have a large social media following. If you’re just getting started with NFTs, it’s a good idea to build a relationship with the audience on platforms like Discord, Reddit, and Telegram. Taking this step will help with communication regarding your cryptocurrency and NFT aficionados.
Aside from that, there is a slew of social media networks with active users worldwide. You can promote your NFT collections on social media platforms like Clubhouse, Twitter, Linkedin, Steemit, and Facebook. You can also sell your NFT collections on the international market.
3) Create relevant content for marketing your product
It is critical to have relevant and valuable content when reaching out to large public forums. In order to give customers a good sense of what you’re selling, explain every detail of your NFT assets in an engaging way. You can also opt to explain your NFT token standards to help people understand them better.
4) Create communities
Currently, social media communities are extremely vocal about NFT projects. The first step is to identify the most popular channels on which crypto aficionados are active and reach out to them. Once you’ve done this, you will be able to create communities on the various platforms. You can also post updates about NFTs here.
5) Host an AMA/Livestream
By allowing potential customers to ask questions and receive answers, direct communication with audiences via AMAs is a beautiful strategy to develop meaningful connections and portray a sense of live participation. It’s also an excellent tool for presenting background information and marketing the project in your own words.
If you hope to engage followers with your AMA, you should follow a few basic rules:
- Make sure to notify community members about the AMA ahead of time, and create a section where users may submit questions ahead of time so you can prepare responses.
- To offer your followers a reason to hang around until the end, start with a list of roughly 15 questions and the most interesting answers. Don’t forget to provide a thank you for participating in the AMA/ streaming.
- Keep the session between 30 and 45 minutes long to avoid losing your audience’s attention. Furthermore, you need to cover the most intriguing questions within the first 15-20 minutes. However, make sure you don’t run through all the juicy content at once – otherwise the rest of the session will come off as monotonous.
- Allow 15-20 minutes for a Q&A session with your followers, during which they can ask you whatever questions they have. This is a fun method to communicate with your followers in real-time while also making them feel important.
- To add some extra flavor to the proceedings, offer your listeners an opportunity to participate in an NFT giveaway as a show of appreciation for attending the AMA.
6) Choose the appropriate marketplace
Every successful marketing campaign and strategy must begin with a thorough examination of the project and the venues available for its promotion. First, the project must research and analyze the terms and fees for each NFT marketplace.
Market volume and liquidity highlight whether a marketplace is considered a popular venue. For this reason, these are two vital criteria to pay attention to. The third aspect is transaction fees, which vary from 2.5% to 15%, putting a severe dent in profit margins. The next step is to evaluate the user experience. An ideal marketplace provides a unique combination of services and features and a variety of benefits for both artists and users.
You should also test out the Binance NFT Marketplace, which is home to a lively crypto community with community-driven approaches to development. Binance NFT charges producers a record-low 1% platform fee, ensuring they earn as much as possible without incurring additional costs.
7) Host a giveaway
Giveaways can help you raise online visibility to acquire and further engage fans. Giveaways are quite beneficial because they offer a greater promotional return on investment. This is quite true if the NFTs are newer to the marketplace – having some free NFTs would definitely appeal to community members.
Here are some pointers for organizing a successful giveaway:
- Set giveaway guidelines based on the creator’s goals and objectives, ranging from boosting social media followers to generating buzz. Always include the basic functions for following the project, resharing the content, commenting, or tagging friends as a rule of thumb. These activities can generate organic traffic.
- To create enthusiasm and encourage viewers to discuss and learn more about the effort, schedule the NFT offering around a week before the project launch.
- Tag your NFT marketplace so that consumers know where they can buy your NFTs. When you do this, the NFT marketplace can also reshare your content.
8) Create your website
When you want to leave a footprint in the digital world, a website is a great place to start. Designing one to promote your artwork is therefore essential. It boosts credibility and is crucial for efficient Search Engine Optimization (SEO) because you have complete control over the content on your website.
9) Collaborate with influencers
Influencers have more significant followings and may affect them in your favor, so their opinions and expectations should be taken seriously. To tap into their social media networks and employ cross-promotion, projects must collaborate with influencers or artists and execute NFT collaborations.
For example, within the realm of possibility, to create a thematic series in which artists can earn new social media followers by leveraging the networks of other artists. This strategy allows potential customers to contribute constructive critique and form stronger bonds with artists and influencers, resulting in a win-win situation.
A marketing strategy must be based on a multipronged approach that combines variety and interaction to remain interesting during the launch and sales process and beyond. The best way to establish rapport is to make people feel like they are part of a greater whole. Therefore, connecting with the community is crucial to the effective marketing of any crypto asset. Consistent community support and recognition will ensure that the value is immediate and long-term.
Customers are on the lookout for new NFT products. Here’s how Pressfarm can connect you with these people
Do you need help putting your NFT product in front of the right audiences and generating positive media coverage? At Pressfarm, we’ve worked with NFT developers to help create newsworthy content like email pitches, press releases, guest posts, and press kits. Our PR professionals and expert writers can also build customized media lists to help you find your perfect media match. The experts at Pressfarm also come armed with a content distribution strategy that has worked for hundreds of brands across different industries.
By submitting your content to the right media outlets and startup directories, Pressfarm can help your project to rank in relevant search results across various search engines. Additionally, Pressfarm can build custom media lists from a comprehensive database of over 1 million journalists across industries. With these media contacts, Pressfarm can help you to continue doing media outreach for up to a year after you’ve signed up.