As NFTs become recognized as the next big technological platform that is set to revolutionize the way brands do business, many people are curious to know how to market their NFTs successfully.
That being said, marketing an NFT is no easy task. In fact, it takes a lot of hard work, consistency, and know-how. That’s why I want to help you out. Here are 10 effective ways to market your NFTs.
1. Find Your Target Market
Before you begin trying to market your NFT, first you need to know what your target market is. Your target market is a group of people you have identified as your potential customers.
It’s important to note that you shouldn’t choose a target market just because you think that specific niche will make you a lot of money. Rather, choose something that you are passionate about.
For example, if you really love dried fruit, then figure out a way to incorporate NFTs into your dried fruit business. Or perhaps you love bowling, well then, figure out how you can create an NFT that delivers value to the bowling community.
Ultimately, understanding your target market and knowing what is missing (and what is needed), will set you up for success before you even begin trying to promote your NFT.
If you don’t have a market, you don’t have customers.
2. Only Work with Professionals
It’s okay to ask for help, just make sure the help you receive is good. When it comes to the creation of your NFTs, working with people that know what they’re doing is important.
Promoting your NFT is a team effort, especially if you are trying to build a successful brand. That’s why knowing how to hire NFT creators for all your needs is important.
Whether it be an artist, developer, or even a marketer, you should only work with people who have a solid reputation. Otherwise, you risk receiving low-quality work, being scammed, and losing money before you even start.
Trust me. A solid team is crucial to marketing your NFT successfully. And that includes the entire process leading up to your marketing efforts.
Additionally, some professionals might prefer to be paid in crypto. If you come across this and you need some crypto, make sure to buy it from a trusted exchange such as Paybis.
3. Build a Community
Once you have identified your niche, then you can begin building a community. Now let’s not get confused here—Gary Vee said it himself—when most people say “community” they mean customers.
Don’t even think about customers before you have successfully fostered a community. That being said, there is no set amount of people that define a community. A community can be as small as 10 people or as large as 10 million people.
The only way to build a community is by sharing your journey and interacting with others.
Of course, it’s a lot easier to create content and interact with people in your niche when you know the lingo, as well as where your community hangs out.
That’s why it’s so important to use NFTs to leverage the things you love doing, not just to make a quick dollar.
Depending on where your potential community is found, that’s where you need to be as well. Let’s say you have an NFT project that focuses on art. That means you should find places where other artists spend their time so you can interact with them.
Many NFT artists love spending time on Twitter and other platforms like Instagram. You can interact on these platforms (and other platforms) by simply posting your own content, liking and commenting on other people’s work, and joining discussions that you feel you can add value to or say something nice.
Using these platforms, you can begin to encourage people to join your own community. An NFT Discord is one of the most popular platforms currently used to build communities within the NFT space.
Keep in mind that building a community takes a lot of time. Overall, the amount of people who decide to join your community is a direct result of the value you provide and the effort you put into your craft.
4. Provide Value
It’s fair to say that providing value goes hand-in-hand with building a community. If you aren’t providing value, then why would anyone want to be a part of your community?
Your goal should always be to bring more value to your community than they bring to you. But how do you do that?
First, there are two main forms of value you can provide:
Utility is a word that has become the main focus in the NFT space. That is, “what do I get from this NFT?” Before we think about the utility that an NFT itself can provide, let’s talk about the utility that you can provide.
Utility has many forms. Education is one example of utility. If you possess valuable information that might help others, then sharing that information with your community would prove to be extremely valuable.
Another form of utility is possession. I’m talking about something you can physically offer your community. It can be something as simple as a t-shirt or something as extreme as your own card collection.
Either way, as long as you have something your community desires, then giving it to them is considered valuable.
Entertainment is an underestimated form of value. Many people enjoy good entertainment. This is especially true for anyone who is building an NFT brand within the entertainment industry.
Musicians, actors, athletes, and artists could all fall into this category. If you are skilled at your craft and can create extremely entertaining content, then building a solid community of people who truly enjoy what you do can be very rewarding.
At the end of the day, the best way to ensure you provide value is to only talk about what you know. You don’t have to know everything by any means (you never will), you just need to be passionate and keep a curious mind.
This way others can be curious and share their passions with you. To do this, you need to deploy self-awareness. What do you enjoy doing? What are you good at? Once you know the answer, triple down on it.
5. Generate Demand
Gary Vee said, “If you’re unable to generate demand, a hundred percent of zero is zero.” You can have the best idea in the world or even the best product in the world, but if you aren’t able to create demand then you’ve already failed.
Of course, marketing your NFT is a part of generating demand. If no one is interested in what you have to offer, then you’re not going to sell anything.
There are numerous ways to generate demand including:
Storytelling is the most effective way for any brand to generate demand. People love a good story, and many brands have been built through this method. Toy Story, Star Wars, Pokemon—they each have a story with an end goal.
What is your tangible end goal? What is something that you’re working towards that you’d like to share with others? Maybe it’s buying your mom a new house or retiring your parents to their dream island?
Every good story has an end goal. Something the protagonist (you) is working towards. It’s not a goal that will necessarily be accomplished overnight or even next year. But it’s something that you can potentially achieve over time.
Sharing this goal with your community is a great way to keep them interested. Others want to see your process and observe your journey. They won’t stop watching until you reach your goal. So keep sharing your dream, and others will keep watching.
You can’t just share your story one time and expect people to stick around. Sharing your story is a long process. Over time, you develop new theories, plot twists, friendships, and lessons that can be shared with your community.
You must be consistent with your storytelling efforts.
Not only does this keep your audience interested, but you can use these new lessons and friendships to bring value to those who are watching. Also, the more consistent you are, the harder it is for people to forget about you.
If you show up on everyone’s feed on every popular social platform, then you are more likely to be noticed—hence forming an even stronger community.
Show up every day, put in the effort, and reap the rewards.
3. Get your hands dirty
Getting your hands dirty is crucial. If you want to be a known brand in your niche then you have to gain experience.
Experience builds trust. Trust supports greater demand.
It’s a lot easier to trust someone with hands-on experience over someone who just talks about doing something. Who would you rather have build you a new house?
Someone who has a reputation for building high-quality homes, or someone who has read books about building high-quality homes? Experience always gains the most trust.
Again. You don’t need to be an expert if you’re just starting. You can be someone who is striving to be an expert. However, the only way to become an expert is to put in the work. There’s no shortcut.
Through storytelling and experience, you will begin to build trust. From trust, emerges demand.
6. Ask Friends and Family for Support
Oftentimes if you are just getting started selling NFTs and building your brand, support can be few and far between. That’s why it’s wise to ask for support from those who already know you best.
Friends and family are a great option to invite to be some of your first supporters. Support can appear in various forms. Whether they consume your content, share it with others, or even buy one of your NFTs, you should be willing to take any support you can get.
Additionally, friends and family provide you with a perfect opportunity to test out your storytelling and community-building skills.
The best part about utilizing the people closest to you is that you have more room to mess up (not that you should try to mess up, but it’s going to happen). Maybe there’s something you could do better? Who better to hear it from than your friends and family?
7. Ask an Influencer to Share Your NFT
Another option is to ask an influencer to share your NFT. I’ll be honest with you, most influencers (especially if they have a large following) will likely not share your NFT with their community.
However, perhaps if you find the right influencer who is in your niche, they’d be willing to simply retweet your project or share it with one of their friends. Honestly, any awareness you can get early on in your NFT startup is worth it.
That’s why reaching out to 1,000 influencers to only have 10 say yes is worth it. Keep in mind that all you’re doing is asking. Never waste time trying to convince someone that your brand is the best or why they should share your NFT.
Simply ask. You will either receive no reply at all or you might be pleasantly surprised. Regardless, it’s very little effort for potentially huge returns.
That’s not to say that you shouldn’t be respectful and craft a genuine personalized message for every influencer you reach out to. But understand that they’re doing you a favor by sharing your NFT.
Expect nothing, and waste no time convincing. Efficiency is key with this NFT marketing strategy.
8. Collaborate With Other Brands
Collaborating is huge in the NFT space. Especially considering how early we are to NFTs in the macro. Both NFT-native brands and brands that are just beginning to dip their toes into the technology are more than willing to collaborate.
The main benefit of collaborating is leveraging each other’s community and building a certain level of trust with your existing community, as well as with the other brand’s community.
Assuming you collaborate with a reputable brand that makes sense to collab with, you can potentially double, triple, or even quadruple your community size. Plus, the amount of trust you can gain by collaborating with a brand even more reputable than your own is an opportunity you don’t want to pass up.
Also, notice how I said a reputable brand that makes sense to collab with. If you are a dried fruit brand trying to market your NFTs, then it might not be the best idea to collaborate with a real estate brand.
Why? Because you’d offer each other little value considering they are two completely different markets with different interests.
Now, if a dried fruit brand collaborated with a hiking brand, you could assume that there might be some cross-interest between the two communities. People who hike enjoy healthy snacks that are easy to pack and quick to consume.
Moreover, you don’t have to collaborate with huge brands. The most important aspect is that the collaboration makes sense to you and your community. Otherwise, it can cause more harm than good.
Always stay on brand.
9. Giveaways Are Gold
NFTs are often given away to generate more sales and attract attention. This is a common tactic used in the NFT space. But of course, giveaways are used in almost every industry successfully.
You’ve likely partook in many giveaways yourself. From your local grocery store to the car dealership down the street, giveaways are used all over the place. Why? Because they work.
They bring people in, and once you have people in, you can begin to provide them with value so that they stay and learn more about you and your brand.
As for the individuals who win the giveaway, they will spread the word within their communities. Positive talk via word-of-mouth and on social media can bring an influx of new people interested in joining your community.
Of course, NFT giveaways should be conducted thoughtfully. You don’t want to become a charity and encourage people to get freebies while your loyal community spends hundreds or even thousands of dollars to get their tokens.
That being said, there’s a lot that you can choose to giveaway. It doesn’t have to be an NFT. It can be other products or services that are provided by your brand.
10. Try New Things
Just because everyone else is marketing their NFTs a certain way doesn’t mean that’s how you have to do it. Don’t be scared to try new things.
Sure, trying something new is always scary, but there are really only two outcomes. You either fail and learn from your mistakes or you succeed and repeat. Either way, there is value to be had from each outcome.
Another pro of trying new marketing tactics is that you stand out from the crowd. Just like Seth Godin said in his nationwide best-selling book, Purple Cow, “You’re either a Purple Cow or you’re not. You’re either remarkable or invisible.”
In a world where everyone is after the same thing, while at the same time offering the same thing, it can be difficult to stand out from the crowd. So anything you can do to gain awareness is a true win, especially when it comes to marketing your NFTs.