NFT Marketing: How To Launch & Sell Out in 2022
After working with many NFT project launches and starting ‘NFT Marketers Network’ — a closed group for marketers serving the crypto space; the questions everyone wants to know the answers to are: how do we sell out and where do we start with our marketing? Here I’ll break down just some of the tactics that lead to success.
What is an NFT?
NFTs can really be anything digital (drawings, music, in-game products etc) and even though they’ve been around since 2014, they’re now gaining huge popularity as a means to buy and sell digital artwork. Collections are flooding the market — OpenSea wrapped up 2021 with an incredible $14.6 billion in NFT sales and this year the numbers are looking to grow even further.
When it comes to NFT marketing there isn’t one strategy or one right way to market your project. One of the best principles to follow is testing by trying multiple methods and measuring results. That being said there are a few elements that play into sell out launches.
Identify Your Audience Niche
When you create an NFT collection it is important to know who you’re targeting. Is your collection for trading whales or crypto newbies? These are questions you should ask yourself before you start on your marketing. For example, if your NFT utility is focused on tools and analytical technology, then your target audience could be seasoned traders and whales.
Keep in mind not everyone is interested in the space. The logic is simple; it’s much harder to promote NFTs to an audience that doesn’t know the first thing about crypto. Hence, you need to put your message in front of your specific niche of a niche, aka NFT people in an NFT dense audience. For example, one of my clients came to me after spending thousands on working with mainstream celebrity influencers with little-to-no results because the audience wasn’t aligned. Don’t make the same mistake.
Majority of the clients I speak with say they want to build a community or help people. But the question I always ask is, how are you going to do that?
Ask yourself why would someone invest in your project? The answer to this question will be the value you provide. You can either solve a real-world challenge, execute a concept or build a community in a specific niche better than others have done. The point is that your audience should see something they believe in and that’s worthy of their time and money.
Have a Clear Message
Now let’s move onto communicating your value. It’s all about grabbing attention and interest. So hook your audience by reducing your key brand message down to two sentences.
Who is this project for? How is the user going to benefit from it? Is it worth the investment? What is the utility? Overall, you need to draft a very clear, concise message that people will understand in a split second. The best way to do this is to write out the bullet points of your project and condense it down to just two lines.
Remember, your confidence in your project’s efficiency should come across and convince your audience to invest. Use this as your tagline across socials and website.
A lot of clients get fixed on increasing their social media numbers more than any other metric, the number on the screen can give you a false sense of security that your project will sell out. But focusing on quality engagement is key here.
For social proof, you want to aim for 10,000 engaged, organic, authentic believers of your project across Discord and Twitter. This signals to your audience who are considering investing that your project is the real deal. However, keep in mind even 1,000 ‘whales’ (someone who holds a significant amount of tokens of a particular cryptocurrency) in your community is 20X better than 100,000 giveaway, bot, link sharing, whitelist spot followers.
After you have your target audience, value proposition and messaging down, getting in front of your target audience is key. The means and channels you use to get the message across is what is called a marketing tactic, and there are a ton of tactics in the space. But where do you start?
The tactics that are working in the space aren’t top secret — they can easily be found by observing historic or successful NFT projects.
Get creative, test different approaches — optimising and utilising content marketing, video marketing (behind the scenes videos, the background story to the artist etc), Q&A, giveaways, interviews, twitter promo, discord events, youtube, influencer marketing, partnerships with other projects in the space- you can do so much, there’s infinite options.
Tap into what you and your team are good at and what’s working so you don’t spread yourself thin — prioritise based on your resources and budget.
Successful NFT Projects and their Messaging
Now that I’ve shared some ideas on how to promote your project, let’s look at a couple examples of successful launches that nailed the messaging principle.
Cunning Wolf Society nails its messaging in two sentences and use it across all their channels. “Inspiring the Next generation of Alpha leaders. On-chain NFT Data Intel platform exclusively for members of the pack”
Here within two sentences, the project has established who it’s communicating to and the value proposition. Even more, since data intel tools are something seasoned traders and whales use, the incentive to invest is clear.
Blockchain Miners Club goes a step further and nails it in one with their tagline “First NFT with rewards from Bitcoin Mining” — all you need to see is if you are interested in this value they are providing and if the art in the NFT is good.
To wrap up, generally speaking a successful NFT launch marketing largely focuses on organic marketing, testing tactics, creating clear, concise messaging that speaks to your audience, providing real value and last but not least, community.
Creating a successful project takes a lot of work and planning — if you need help with putting a solid marketing strategy in place with the whole client journey mapped out, all the tests, measurement, budget and support in place, feel free to reach out - my team and I are here to help.
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