Marketing is already a difficult skill to master. For the DIY business owner, marketing can even be downright overwhelming. There are a dozen different verticals, hundreds of different metrics to learn, and millions of acronyms and technical jargon that you need a full-on dictionary to translate.
Now, if you are here, that means you have not only taken on the tough task of learning marketing but also added a whole new layer of learning to it by marketing an NFT project. While this might seem daunting and sometimes impossible, we are here to tell you that it doesn’t need to be that hard. We are here to arm you with the knowledge you need not get your project’s name out there and generate sales from your project.
So if you want to crush your marketing campaign and sell out your mint, buckle up and sit down for the most insightful 5-minute read of your life.
NFT Marketing vs. Web2 Marketing
Marketing an NFT project differs from traditional Web2 marketing practices; however, there is a degree of overlap. Marketing an NFT project strongly correlates to event marketing in the Web2 space, but there are key differences at the foundation. So, what are the key components of a successful NFT marketing campaign?
At the heart of any NFT project is community. Your community will be your greatest asset, as they will provide you with the following:
- Valuable feedback
- Marketing/word-of-mouth growth
- Initial revenue
- Brand Advocacy
- And much more
While communities are the lifeblood of NFT projects, the task of attracting enthusiasts to your community remains. When it comes to growth, organic connection truly trumps all; however, this pitfall is that it is time-consuming and not scalable. For this reason, we must balance fostering organic connection and getting your story out to the masses. This is done by building a proper funnel that attracts a large audience, vets qualified leads and allows for a direct connection that fosters a real relationship.
When it comes to marketing tactics, we have learned that the general NFT audience operates differently from that of the general public. NFT enthusiasts are more skeptical of traditional marketing channels like paid ads. The audience has a preference for organic connections and authority. With these key pieces in mind, we can discuss proven tactics.
The Importance of Community
Building a strong community should be at the heart of your marketing strategy. Kicking this guide off with the community is imperative, as all marketing channels should focus on feeding your community. Early-stage projects will rarely be able to get people to buy their tokens from a single touch point in your marketing funnel. New projects tend to be unproven and riskier investments. To ease the nerves of prospective holders, you have to slowly introduce them to your project and instill confidence in them that this is a project worth their time. In addition to this, building a community creates a devoted member. NFT projects succeed when they have key members dedicated to bringing them along instead of investors looking for a quick cash-out.
Community size and activity are key indicators for potential holders when deciding to invest. For this reason, it is important to grow your community — not just for internal logistics but external optics.
Spending thousands of dollars to bring members into a community will mean nothing if you cannot retain and engage. Maintaining a large and engaged community will translate into success in the long run.
Discord is the platform of choice when growing your community. Not only are NFT natives accustomed to Discord as a platform, but it also offers analytics and robust customization options that allow you to do much more than most other platforms.
NFT Marketing Strategies
Twitter raids are something fairly unique to the NFT space. Twitter raids are another fun way to activate community members in your promotional activities. These raids include community members “raiding” or posting under specific Twitter threads with promotional messages of the server. There are different ways to perform a Twitter raid, but below, we will outline a common practice for the tactic.
- Open a “Twitter Raid” channel in your Discord Server.
- Allow members to link to the tweets and threads the community wants to raid.
- Members must follow the links in the channel and respond to the tweet.
- Each response should be unique and, in some capacity, promote the NFT project.
- Each response should include the Twitter handle of the project and a hashtag unique to the group.
- Once everyone has made their posts, search for your unique hashtag on Twitter.
- Retweet every tweet within your unique hashtag to amplify the volume.
It is important to note that Twitter raids should be targeted toward topics related to NFTs, and we are open to seeing new projects flood the comments. Twitter raids can quickly become spam campaigns when the wrong links are added. Actively monitor what links are being sent in and quickly remove links that don’t belong. Tweets like the one below or tweets from your brand’s accounts are good places to start.
Influencer Marketing For NFTs
Influencer marketing is probably one of the best traditional marketing strategies on Web3. As mentioned before, Web3 natives prefer credibility and authority over all else. Many look towards thought leaders to help make difficult decisions when navigating the market.
A distinction is the use of thought leaders over influencers. Influencers are classified as thought leaders, but thought leaders are not necessarily influencers. Thought leaders are influencers in that they have a dedicated audience that they can influence. However, where thought leaders go beyond influencers is that they are natives of the topic or niche you are trying to promote within. These thought leaders have independent ideas and projects they work on that give them the utmost credibility. Think Kim Kardashian (who was recently fined for promoting crypto) — she might have millions of followers and can reach an even larger audience, but what does she know about crypto? She may be invested in crypto, but we know she is not the one in the weeds trading and investing. So what true Web3 native would take her word over a small-time crypto thought leader who has spearheaded half a dozen successful projects?
The moral of this story is to start small. Find quality thought leaders who have a real influence over their audience. Finding micro-influencers that deliver an effective campaign will be worth much more than finding big-name influencers to promote your project.
NFT Listing Platforms
The first step in bringing your NFT to market is listing it on an NFT marketplace. If your project doesn’t have much of a following, listing it on a marketplace opens you up to a new audience amassed by the platform itself. This is essentially like listing yourself in a directory or search engine. This will not be the most effective traction method, but it is one of the easiest and most necessary ways to make your project more discoverable to a wider audience. Some popular marketplaces include:
Leveraging these marketplaces as best as possible is important to remember when trying to extract their total value. For example, some marketplaces like SuperRare offer extended support for promoting your project. Unfortunately, many founders miss this when listing their projects, which means they lose an important way of accessing a larger audience.
Another platform, Enjin, offers promotional opportunities as well. Enjin allows you to promote your site and listing. For example, you can get a premium listing with a banner on Enjin’s global community list. These hidden promotional offers can make or break an NFT campaign. We recommend always reaching out to the marketplace team to see their available promotional opportunities before choosing a platform.
Marketing your NFT project will be difficult but rewarding if you are persistent. So first, take the time to learn from great resources and understand your objectives clearly. Then, please continue searching for more in-depth NFT marketing guides that can provide you with a wider array of options to market your project to maximize your chances of knocking it out of the park.