The Ultimate NFT Marketing Strategy Guide For 2023
January 12, 2023
Editor's note: This post was originally published on September 26, 2022 and has been revamped and updated for accuracy and comprehensivenes.
NFTs have gained widespread acceptance and have become an important part of the web3 economy. Non-fungible tokens are stored on a blockchain protocol like Ethereum, Solana, Cardano, etc., and use smart contracts to prove ownership of virtual or physical assets like photos, videos, tweets, music, and even memes.
NFTs enable the commercialization of digital assets such as art pieces, music, files, online games, and so on. NFTs are available to everyone; anything can be sold as an NFT, and anyone can create one. If you are an artist, content creator, or brand, you can use NFTs to sell your works directly to your audience, eliminating the need for intermediaries.
According to NiftyTable, OpenSea has 6.8 million Ethereum and Polygon-based NFT collections, but only 15K have ever been sold, accounting for 0.2% of the total number of NFTs. This number is likely to go up when we consider the number of NFT collections on other blockchain protocols such as Solana, WAX, Cardano, etc. People like to talk about how 99% of NFTs will go to zero, but 99.8% of NFTs have no market value already. The sheer number of NFT collections being launched has overwhelmed the NFT market. Because of this, there is a need for NFT marketing strategies that can get NFTs in front of the right people.
Read more: The Best Crypto Marketing Guide For 2022
While there are numerous articles and videos explaining what an NFT is and how it can help you sell your digital assets, this guide will help you put together a solid NFT marketing strategy that will allow you to expand your audience reach, build more trusting relationships, create a community, find potential buyers for your NFT projects, and sell your NFT collection.
The most important NFT marketing strategies for content creators and brands
To get high bids for your NFT, you must stand out from the crowd and differentiate yourself from others. There are numerous examples of people who created something unique but failed to generate awareness and profits because they did not market their product or service properly.
Let's take a look at how you can spread awareness about your NFT drops:
1. List your collection on more than one NFT marketplace
Before doing anything else, you must put your NFT collection up for sale or auction on marketplaces like OpenSea and Magic Eden. These are NFT-specific marketplaces where you can list your works for sale and people can bid on the NFTs they would like to purchase.
In addition to listing your NFT project on popular marketplaces, you can also select NFT marketplaces relevant to your niche. Zora, for example, is best suited for buying and selling music NFTs, whereas SuperRare is a marketplace for limited-edition digital artworks.
You could also read our article about the best NFT marketplaces to see which one is best for your NFT project.
Read more: 10 Best Music NFT Marketplaces
2. Build your own NFT community
Every web3 brand or content creator requires a strong community to back them up. It is without a doubt one of the most important and fundamental parts of every web3 project, including NFT collections.
Having your own community will assist you in quickly and efficiently spreading awareness about all of your current and future projects. Furthermore, members of your community are the people who are most interested in your work and thus most likely to own your NFTs. You can create your own community by using platforms such as BitcoinTalk, Telegram, Discord, or Reddit. Here's a guide to building communities on Discord, Twitter, and Reddit.
Maintaining engagement metrics is critical for building a thriving community. Actively participate in community discussions, share your insights, and interact with community members. Don't just post links to your own content in your community; look for constructive feedback from the community about your NFT collection.
3. Host regular AMA Sessions on Discord and Twitter Space
'Ask Me Anything' (AMA) sessions are extremely popular in the web3 and crypto ecosystem. It is an excellent NFT marketing strategy to actively engage with the community on online platforms and raise awareness for your NFT project. AMA sessions can assist your target audience in grasping your NFT project and the utility of your non-fungible tokens. You can also explain your project's roadmap during the AMA sessions and take feedback from your audience.
Twitter, Reddit, Discord, and BitcoinTalk are the most popular platforms for AMA sessions. You can also reward community members for contributing to your project and sharing value in your community.
4. Collaborate with influencers, other NFT collections, and brands
One of the most effective strategies for informing your target audience about your NFT collection is by implementing influencer marketing strategies. Influencers have a strong reputation and are well-liked by their followers. You can work together with them to get the word out about your NFT to their target audience. Some influencers focus on certain niches and have audiences that are focused on those niches. This makes sure that your work gets to the right people.
Because the web3 space is more about collaboration and growth, it's also critical for you to collaborate with other NFT collections and brands to create amazing products that ultimately provide value to everyone's audience.
5. Build a solid social media marketing strategy
Social media marketing is an essential component of NFT marketing and has been the backbone of almost every digital marketing strategy. You can get the most out of social media for your NFT project if you use it correctly. You can create a crypto community using social media marketing. The community will help spread the word about your project. Project owners use multiple channels to market their virtual artworks.
Having a consistent presence on social media platforms such as Facebook, Instagram, and Twitter will aid in the promotion of your NFT drops. Focus on making thoughtful, interesting content and useful resources for your audience on these channels.
While you should promote your NFT project on all major social media platforms, Twitter marketing should be your primary focus. Twitter is currently the most dominant social media platform for NFT marketing, according to data provided by Kofi, with YouTube coming in second. The majority of NFT projects use Twitter marketing to announce updates and spark discussion through comments. So, if you use a relevant hashtag on Twitter and host NFT space consistently, you can reach more people in the web3 and NFT communities.
6. Search engine optimization of your NFT collection name
Search Engine Optimization (SEO) is more than just including keywords on your website; it also includes a variety of techniques and methods for increasing the project's ranking on SERPs. SEO can help your brand's NFT collection gain organic visibility on search engines. On-page SEO, off-page SEO, content marketing, link building, guest posting, local search engine optimization, etc. are all popular SEO strategies.
7. Submit your NFT collection on drop listing websites
NFT calendars are websites that NFT collectors use to research and find out about future NFT releases on various NFT marketplaces. To reach potential collectors and communities, make sure all of your drops are listed on NFT calendars. While there are numerous NFT calendar websites, you can begin with this list of the best NFT calendar websites for your NFT launch.
NFT calendars consolidate all of the best NFT drops from various NFT marketplaces into one location, eliminating the need for NFT collectors to search multiple marketplaces for the latest and greatest NFT releases. Filling out a simple form with information about your release is all that is required to be added to the NFT calendar. Listing your NFT collection on NFT calendars is completely free and can provide you with a lot of exposure.
8. Email marketing
E-mail marketing is an excellent marketing strategy to communicate with your target audience about your NFT collection. You can send personalized email newsletter campaigns to your newsletter subscribers on a weekly or monthly basis to keep them up-to-date on events and insights related to your NFT collection. With email marketing, your goal should be to tell people about new products or highlights while also asking for feedback or getting them to join in.
Newsletters are distributed by the majority of NFT marketplaces, calendars, and blockchain-related media outlets. Some even accept requests to include new NFT releases. Most NFT platforms will offer paid options for this type of advertisement, but some media outlets, such as NFT Calendar, will feature NFT drops for free. This is an excellent marketing opportunity because you get to market yourself in front of users that are both a highly targeted audience and interested in NFTs.
9. Create a whitelisting strategy
Whitelisting is an NFT marketing strategy that allows a select group of community members early access to your NFT drop at a lower price than the general public. Whitelist campaigns are a great way to see how well received your product is likely to be by the NFT community at large and use that feedback to determine whether or not to expand your marketing efforts.
There is nothing more exciting than launching a new NFT project, and being a part of something that has the potential to change the world is an opportunity that not everyone will have. While most users and brands are still learning about NFTs, you could be among the initial adopters to get recognized in the NFT space. Don't be shy about implementing NFT marketing strategies to get the word out about your own NFT if you plan to release one in the future.
NFT marketing is going to be necessary in order to drive bids and increase sales as more people become involved in this world. By providing a fun and interesting experience, you can increase the likelihood that your audience will back your project. It is critical to make people emotionally connect with your NFTs so that they can buy into your vision and be eager for it to succeed.
Achieving better long-term results requires maintaining a consistent focus on the strategy at the center of your plan. By following these steps, you will avoid the majority of the common mistakes that most projects make, allowing you to concentrate on creating a unique NFT-based economy.