NFT marketing strategies are usually critical in the successful sale of a new NFT. Implementing well-thought-out strategies is especially important if you want your NFT to stand out in the marketplace. Additionally, digital artists can use these services to expand the reach of their NFTs to the right audiences. This article will explain what an NFT is and explain how you can create and promote one successfully.
What Are NFTs?
Let’s start with a brief definition of what NFT stands for. It stands for non-fungible tokens – these are one-of-a-kind digital assets created on the Blockchain network. These non-transferable tokens can be bought and sold in a virtual medium, such as the NFT marketplace. Users can utilize this platform to mint, sell, and purchase digital assets and collectibles. Art, music, exceptional sporting events, in-game goods, and a variety of other things could all be turned into NFTs for sale to the public.
Why is it important to market your NFT?
Marketing has a critical function in significantly increasing business prospects. The success of a business is determined in large part by the marketing techniques that the business team uses.
However, as the popularity of NFTs grows, so does the desire for digital creators to create, mint, and sell digital assets on the NFT marketplace. As a result, the demand for NFT marketplaces has been increasing exponentially for over a year.
The NFT space is in significant demand among digital producers who look for any opportunity to repurpose their digital assets and sell them in a new space. By transforming their work into NFT form, they can ensure that it reaches a wider audience. This is crucial because many digital creators mint their works on the platform, and there’s a danger that someone’s collection might go unnoticed.
However, with so many NFT assets and marketplaces to choose from, making your platform stand out is critical. It would be ideal to approach marketing experts who have experience working with NFT projects for help with this.
Benefits of choosing an NFT marketing agency for promotions
When it comes to launching your NFT asset or marketplace, you’ll need to build a lot of awareness and visibility for your project. For this reason, approaching a suitable NFT marketing agency will provide numerous benefits. When you partner with an agency of this kind, you can enjoy the following benefits:
- Make a memorable entrance into the NFT world with the appropriate marketing strategies for a larger audience.
- Save money when you choose an agency/company rather than depending on in-house developers to promote the project.
- Set up ongoing marketing efforts that run 24 hours a day, seven days a week, to reach the target demographic with no time limits.
- Get access to advanced tools that you can use to achieve beneficial effects and outcomes.
- Enjoy flexible marketing tactics that meet your needs
Top NFT Marketing Strategies
While marketing your NFT, it is necessary to follow the most current approaches. Some of the most recent and effective NFT marketing tactics are listed below. Take a look at the following.
1) PR strategy
The most crucial tactic to implement is the distribution of press releases. A press release will benefit your NFT project more than you realize because you will be able to communicate the drop of your NFT or NFT marketplace to the appropriate audience. Make sure the press release is distributed to top-tier media outlets.
Do you need help putting your NFT product in front of the right audiences and generating positive media coverage? Pressfarm is a PR agency that has worked with NFT projects to create newsworthy content like email pitches, press releases, guest posts, and press kits. Their PR professionals and expert writers will also create customized media lists to help clients find their perfect media match. The experts at Pressfatm 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 brand to rank in relevant search results across various search engines. Additionally, Pressfarm can build custom media lists in addition to offering clients access to a comprehensive database of over 1 million journalists across industries. By giving you these media contacts, Pressfarm can help you to continue doing media outreach for up to a year after you’ve signed up.
2) Discord & Telegram marketing
The best way to promote your NFT project to the worldwide community is through community building. Promotion through chat services like Discord and Telegram is one of the ways that you can build a loyal community around your project, even before your NFT drop or the launch of your NFT marketplace.
You can build a Discord server for talks on Discord, an emerging digital distribution network. Create a channel with like-minded people interested in NFT-related issues and join it. You can also use this platform for advertising your NFT project by submitting memes, GIFs, and other images.
One of the most objectively successful ways to connect with potential buyers is through Telegram marketing. Create private or public channels for this purpose, and then ask potential NFT collectors to join your channel. Inform them of your NFT drop while you’re out and about.
3) Influencer marketing
Influencer marketing is pervasive these days, as every industry has its own influencers. As a result, reaching out to NFT influencers whose content aligns with your specialty would be quite beneficial. If you can do your influencer marketing the right way, there is a much higher probability that your NFT project will capture the attention of your target audience. Just keep in mind that influencer marketing does not produce immediate results, and you need to take time to build positive relationships with these influencers and give them time to produce content that their audiences will enjoy. Ultimately, the key to success with influencer marketing is to make sure that you choose your influencers based on the engagement they get rather than the fees they charge.
Reach vs. engagement
When choosing a suitable influencer to work with, many entrepreneurs make the mistake of choosing influencers with wide reach but little engagement. Using this approach could actually result in a massive waste of money because reach tends to be a vanity metric. What do we mean by that? Simply put, if a social media post is seen by 1 million people, but only 11 out of 1 million people engage with it, then we can conclude that the post only impacted 11 people. If you relate with a social media post, chances are high that you will engage with it in some way – either by liking it, commenting on it or sharing it.
At the end of the day, it’s better to choose an influencer whose content is seen by fewer people if a large portion of these people (for example, 668 out of 1,000 people) engage with the content. If you want to choose an influencer who will boost your brand, then you should always prioritize engagement over reach.
4) Social media marketing
You can also engage your target audience or community by posting on social media sites, but keep in mind that not all social networking sites are appropriate for NFT marketing. On the other hand, Facebook, Linkedin, and Twitter are the most popular social media platforms among NFT developers, and creating an active online presence on these platforms increases your chances of connecting with potential buyers.
5) Paid advertising
When combined with an organic marketing strategy, paid adverts can also provide you with a broader reach. You could use common platforms like Facebook, Bing, Google, and others to advertise to a specific demographic of people. With the targeted advertising tools available on most social media advertising platforms and search engines, you can connect with many potential and current NFT collectors.
6) Search Engine Optimization
It is possible to increase the overall organic visibility of your NFT project using SEO (Search Engine Optimization) to attract the attention of potential purchasers. Developing an SEO PR strategy for your NFT asset or marketplace can widen your reach even further. By boosting your SEO, you make it easier for your target audience to find you through organic searches across search engines. This is undoubtedly a great option, as many people currently rely on Google search results to answer their questions or gain insights.
7) NFT Listings
Listing on an NFT marketplace is highly beneficial to people who are looking to sell their NFTs. By listing your digital asset on popular NFT marketplaces, you can boost its value. Given that there is a myriad of platforms to choose from, you should base your decision on your niche.
NFT marketplaces currently specialize in buying and selling digital artworks, trading cards, virtual games, and real estate. Even so, they’re expanding to include more NFT assets over time. In order to trade in the NFT marketplace, you’ll need an Ethereum wallet.
You’ll have a better chance of selling your NFT at a greater price if you list it on multiple marketplaces. Once you’ve listed on one or more marketplace, all other tactics that you use to promote NFT will drive traffic to these marketplaces.
Let us look at some of the top NFT Marketplace Listings.
- OpenSea – OpenSea is a leading NFT marketplace for buying and selling art, domain names, trading cards, collectibles, sports, and utilities. Every NFT sale is subject to a 2.5% commission.
- Rarible – Rarible is a marketplace where users may sell personalized crypto assets. The platform is based on the Ethereum blockchain and supports the ERC-721 protocol. A 5% fee is charged on the final sale price by the platform.
- Atomic Hub – The Atomic Hub is an NFT marketplace from the team at The Pink Network. On this marketplace, it’s easy to make NFTs and exchange digital assets. The Atomic Explorer allows you to search across the platform for all types of NFTs.
- Enjin – Enjin is a blockchain asset marketplace where anyone can learn about and trade NFTs. Over 1.1 billion inventive products are available on the platform, with 1 million already sold.
- Jumy – This is the first NFT marketplace that originates from the Middle East. On this platform, you can purchase and sell a variety of NFTs, including art, photography, music, memes, sports cards, and influencers.
- WazirX – WazirX is also known as India’s first NFT marketplace, allowing artists and creators in the country to trade NFTs. In order to trade on this marketplace, you must join the waiting list first.
- Known Origin – Known Origin is another reputable site for buying and selling rare and limited-edition digital artworks. There are approximately 1,800 digital artists on the marketplace, and over 20,000 artworks have been sold on the platform so far.
- MintBase – MintBase is a prominent marketplace with specific stores for trading music, memberships, services, games, tickets, art, news, photography, and product non-fungible tokens (NFTs).
- Pixura Inc. – Pixura Inc. established SuperRare, a legitimate digital art marketplace. The Ethereum blockchain is used to certify tokenized digital art. In order to purchase an NFT from a seller, you must first place a bid, then resale the NFT at a greater price later. The platform makes it easy to design your profile so that patrons from all around the world can see your NFT collection.
- Cargo – The Cargo marketplace is a great location to find new artists’ treasures. This marketplace has built on the Ethereum blockchain network. To begin trading NFTs, you must create an account on the site.
- Fan – A decentralized social marketplace that connects creators and their fans, Fan is still fresh to the NFT market. This platform will soon be home to the world’s first Lindsay Lohan NFT.
8) Video content
Creating videos is beneficial for increasing awareness and clarity about your NFT project among your target audience. You can easily create and publish videos on video-sharing sites like YouTube to accomplish this.
9) Content marketing strategy
Content marketing is a successful marketing strategy since it produces the best results. The truth is that content reigns supreme and is the lifeblood of marketing. You can achieve brand visibility by advertising for your NFT initiative through blogs, infographics, and other means. This allows you to reach out directly to your intended audience. Ascertain that the content is of the highest quality and communicates essential information. Publishing content on sites like Reddit, Quora, Pinterest, and other interactive and widely utilized platforms is another way to promote it.
10) Email marketing strategy
After you’ve got your target audience’s attention, you need to create a strategy that will successfully convert these leads into buyers of your NFT assets. Without a doubt, email marketing is the most cost-effective conversion technique for NFT advertising. Collect potential customers’ email addresses and inform them of the sale by sending an email newsletter.
Blogging is a time-tested approach that is used to reach out to NFT buyers at various phases of the buying process. When you develop different blog posts with answers to typical questions that people would type into a search engine to learn more about NFTs, the search engines may pick up your information and index it.
Every industry has begun to realize the benefits of NFT technology. For this reason, the value of NFTs is expected to rise even more in the future. As a result, businesses wishing to issue their own NFT tokens face increased competition. Using effective NFT marketing strategies and partnering with agencies that have experience in the NFT space will help you to position your brand in front of your target market.