How to harness the digital potential of your brand with NFT marketing
Although NFTs are a unique asset, using digital marketing to promote your NFT follows the same guidelines as all other digital marketing processes.
Remember the days when collecting and trading baseball cards seemed like the coolest thing to do? Today, those coveted baseball cards and other collectibles have been largely replaced by NFTs, or non-fungible tokens. These tokens are digital pieces of property – assets – that can be bought and sold. In this sense, they resemble other collectible goods.
However, what sets NFTs apart from other collectibles is that each one is unique and non-tradeable. The token to which the name refers is a proprietary digital certificate. To keep track of the tokens, they are stored in a digital ledger known as a blockchain. This technology makes it possible for NFT creators to receive royalties every time a token is resold, depending on the details of the contract.
According to Statista, Beeple’s Everyday: the First 5000 Days remains the world’s most expensive NFT to date, having sold for $69 million. This work is also credited with starting the NFT craze and driving sales. As of November 2021, NFT sales had exceeded $10 billion.
Now, the question is: will NFTs revolutionize digital marketing?
How to sell NFTs
NFTs may be a unique asset, but using digital marketing to promote your NFT product follows similar guidelines as any other digital marketing process.
To be successful, you have to start with a solid digital marketing strategy, defining your marketing goals and creating a path towards them. Without a well-defined strategy, it is difficult, if not impossible, to stand out from the NFT crowd on NFT trading platforms. Although the platforms are very accessible, they are becoming more crowded as the popularity of NFTs continues to grow.
Most creators aim to generate short-term sales while building medium- to long-term customer relationships. Diversifying your approach helps you achieve both.
Related: NFTs are not what you think. They are something much better.
Building relationships is the key
Even if you’re only considering NFTs at this point, don’t underestimate the potential of the underlying blockchain technology. The blockchain allows you to establish a closer and more direct relationship with your fan base and build your brand from a community base.
When choosing your marketing channels, remember to prioritize building relationships and matching the channel to your product and target audience. In our experience, these channels work best for most NFTs:
- Social media advertising.
- Public relations.
- Graphic advertising.
- Email marketing.
social media advertising
Social media advertising is a very targeted way to connect with potential customers and generate instant NFT sales.
As a creator, you remain in control of the associated costs. You also benefit from sophisticated analytics to measure how well this part of your campaign is working for you. Combined with organic social media activity, this tactic can help skyrocket your reach and build a strong brand.
Public relations (PR) not only helps promote your NFT, but also builds credibility for your NFT brand and product. Posting or sending our press releases can seem almost old-fashioned. However, it’s a great way to connect with journalists and bloggers looking for the next NFT hit.
Public relations allows you to reach your target audience and build long-term relationships, while encouraging short-term sales. It is a very profitable marketing channel.
Display advertising through channels like Google Ads is another great way to drive sales for your NFTs in a very targeted and measurable way.
By monitoring cost per 1,000 impressions or cost per click, you control your marketing budget. Plus, you can see at a glance how much each sale costs you.
Combining display advertising with other marketing activities, such as search engine optimization, creates synergies and helps achieve even better results.
Just like press releases, email marketing has been around for a while. Top marketers continue to turn to this channel because it pays off, and it can for your NFTs, too.
Email allows artists and other creators to put their work directly in front of an investor. You can’t get any closer than someone’s personal email inbox. In addition to driving direct sales, email marketing is also a great relationship-building tool when done consistently.
NFTs offer your business the opportunity to sell more than just tangible items. They can add a whole new dimension to your brand. Plus, non-fungible tokens are a great way to open up your brand to new audiences you wouldn’t otherwise have reached.
Almost anything can be an NFT. As long as the asset is presented as a GIF, a Jpeg, a digital music file, etc., it can be traded on the NFT platforms. It is a perfect opportunity to explore the digital potential of your brand like never before.