One in every three marketers indulges in random acts of marketing with little or zero strategy. 

An absence of a long-term marketing strategy will lead to money and time loss. 

None can stress the importance of strategy in anything (we do) better than this quote from Peter Drucker:

“Without a compass bearing, a ship would neither find its port nor be able to estimate the time required to get there.”

Businesses who strive for short-term success will embrace the random act of marketing; however, the businesses that yearn for indefinite success will have a data-driven marketing strategy.

Right then, let’s move on to the crux of the blog!

NFT Basics

While most of us know what an NFT is, it becomes important to recall that: non-fungible tokens (NFTs) are blockchain-linked digital assets, encompassing the ownership details of value-driven assets. NFTs are currently recognized as unique tokens in the blockchain space. As a requirement for growing your NFTs, you must devote as much attention to them as feasible. Launching an idea without formal approval means you’ll miss out on many prospects.

Because your NFT’s value depends on people talking about it and investing in it, devising an NFT marketing strategy to promote it is critical. As a result, creating a buzz is the key to turning your NFTs from a work of digital art to a money-making machine.

The 5-Step NFT Marketing Strategy that Works

In this blog, we’ll cover some of layman’s marketing strategies and how to make them work for you!

1. Planning

Not just marketing, your NFT business venture would have had the planning phase, ain’t it? Planning your NFT marketing campaign starts with defining your goals, which should be to-the-point, objective-oriented, and long-term vision, etc.

For instance, if you have a pre-built NFT marketplace; you will want to increase NFT sales, won’t you? In this scenario – driving more footfalls and increasing NFT marketplace sales should be your goals.

Most importantly, ensure that you have measurable goals. Examples of which include generating 100 signups or 1000 NFT sales per week in your newly-built NFT marketplace. 

2. Implementation

Now it’s time to leverage various promotion channels to implement your marketing strategy. While NFT projects retain traditional marketing channels like social platforms, they also engender new-age marketing channels like Discord, Telegram, and Reddit. 

Here’s an overview of the most effective marketing channels that could work magic for your NFT project:

• • Search Engine Optimization – SEO forms the crux of NFT marketing services that deploy business-specific keywords that your target audience is searching for. Say (for example); that you own a dedicated NFT minting platform with multi-chain support. Then obviously – a multi-chain NFT platform – would be your primary keyword. 
  • Social Media Marketing – Social media is a good way to reach a larger audience at an affordable cost. To reach beyond your present followers, you may make both organic and paid posts for a company page, much like a search engine. While traditional social platforms play a decisive role, NFT discord marketing seems to be the highlight, with almost a 19million active servers every week. 
  • Influencer Marketing – Influencer marketing is the way to go if you want to grow your audience and attract more traffic to your website. Digital gurus that are well-versed in their field are known as influencers. These influencers can clearly express complex subjects and build high anticipation among their audience.

3. Community Building

NFT Brands’ community management is a multifaceted endeavour. The community grows by attracting new users and maintaining them through consistent involvement. Engaging with the community takes time, and NFT Brands requires dedicated employees to manage communities effectively. Furthermore, it would help if you interact with your audience on various sites, including Telegram, Discord, and Reddit.

4. Evaluation

Assess your NFT marketing strategy from time to time with tools like Google Analytics, etc. Examine behavioural indicators like conversion rates and bounce rates to discover which channels are most effective and may require additional attention. 

While talking about the Evaluation (or) performance tracking, I got reminded of a famous quote from Winston Churchill:

“However beautiful the strategy, you should occasionally look at the results.”

Are you getting a lot of traffic to your blog but little conversions? Then maybe your first step is to figure out how to use that content better. Are you getting fantastic results from your PPC advertising using certain tactics and techniques? Perhaps it’s time to broaden your efforts and put these tactics to the test on new ones.

5. Competitor Analysis

It doesn’t mean you should imitate what they’re doing. Instead, look at their strategies, such as their rankings, messaging, and ad placements. Put yourself in your customer’s shoes and conduct the same type of research they would if they were looking for your service. Are you noticing other businesses where you aren’t supposed to be? Which possibilities tend to offer themselves as authorities when you assess them? These are important areas to evaluate and determine where you might need to improve your competitive advantage.

The Final Thoughts

NFT enthusiasts tend to dissociate themselves from brands that are not utility-driven; whatever project you’re designing, ensure that you embed persuasive utilities in your project. But wait – what does this have to do with marketing, you may wonder?

It makes more sense to weave an NFT marketing strategy around a utility-driven project than a random one.

AppDupe is a full-service NFT marketing agency promoting NFT projects amongst the blockchain audience. If you have an NFT project to promote, we’ll be glad to help you!