Non-fungible tokens (NFTs) are gaining momentum as a technological innovation, and many people have opted to use those as part of their careers. These digital representations supporting products on the decentralized blockchains have emerged to change the world for better, as they intend to reduce a lot of intermediaries that present many barriers to people. But how can one exhibit their version of this brilliant technology when the existing market is crowded, and a sizable proportion of the population isn’t unaware of these tokens? NFT marketing presents a brilliant opportunity for businesses and individuals to promote their NFTs to the Web3 community. The below quote can help one understand the NFT market’s current state, as thousands of projects flow in often.

“The attention economy is not growing, which means that we have to grab the attention that someone else has today.”

— Brent Leary.

NFTs in 2023: Where Do They Stand?

The NFT market in 2022 had three phases — a boom from January to May, a decline from June to November, and a comeback in the last two months. The market’s growth has been continuing as the global economy witnessed improvements, affecting the crypto and NFT markets. No wonder why NFT trades worth 10 to 20 million dollars occur weekly.

According to the above chart, the popular NFT genre has been collectibles (43.3%), as most of them come to offer some use in virtual environments. They are followed by utility NFTs (38.6%), artworks (10.9%), and metaverse NFTs (4.2%). Other categories occupy the remaining portion of the chart.

The Ever-lasting Question: “Why Should I Promote NFTs?”

You might think, if the NFT space comprises only a small portion of the world’s population, why you should work hard to market your business. Despite the space being small, the competition is huge, as numerous projects flow in every day, alongside ventures that have established their presence strongly in the space.

Such a bottleneck makes NFT marketing a must for any NFT business so as to build community traction and generate profits. Also, as always, promoting NFTs is a way to exhibit how you communicate to your audience, giving them an idea of what you will present to them once online. The below quote from one of the marketing pioneers stands relevant even in the age of NFT promotions.

“What really decides consumers to buy or not to buy is the content of your advertising, not its form.”

— David Ogilvy, Advertising Tycoon.

Prepare Yourself for the Year With These Strategies

Advertising NFTs can be done in numerous ways, and we intend to present here NFT marketing strategies that ensure success for entrepreneurs in 2023 and beyond.

Community Marketing

The NFT community is growing in size every day, and it is important for any project to have a loyal customer base before launch. Community building using platforms such as Discord and Telegram has become popular in recent times. Also, voice-based apps like Twitter Spaces and Clubhouse supplement these efforts by garnering reach for an NFT venture. Various activities can be conducted in these communities to generate attention and create a sense of belonging for members.

Social Media Marketing

With social media applications becoming a prominent part of our lives, the NFT space has to adopt them for promotions. Platforms like Facebook, Instagram, Twitter, and LinkedIn have been top social networking sites for a long time. NFT projects can use these applications to exhibit their attitude to the target audience through engaging posts of various forms. The strategy can also complement other marketing strategies by enabling hosting polls, contests, and link sharing.

NFT Influencer Marketing

Another facet of promotions that have been a result of social media’s growth is influencer marketing. This strategy has gained importance among NFT projects due to the space being in the initial stages. For any NFT project to have a high reach, working with influencers related to its genre is crucial, as doing so helps it to widen its community. Since most influencers have experience in the space, their inputs can help projects gain valuable insights on how to proceed.

Collaborate with NFT Creators

Marketing NFTs by collaborating with well-known creators can help a business open new markets. It can be as simple as engagement via social media to enhance collaborations, including community talks that intrigue participants to get involved. A venture must be able to partner with creators related to their work niche to create huge attention. It can help a project expand its community base and maintain its social media presence during the launch phase.

Conduct Giveaways

Giveaways have become an integral part of many NFT projects today, as they aid in creating hype in the market. These can be conducted in the project’s social media and community handles, with prizes being NFTs, native tokens, or even a spot in the initial whitelist. Such contests increase online impressions for the project as they typically include tagging, commenting, and sharing on social media.

Press Releases

The NFT space’s relative newness makes it essential for projects to adopt press releases as a marketing strategy. Publishing press releases that elaborate on the project’s nature can help to increase the reach of a project among the public. There are numerous NFT and technology press websites one can use to create informative content related to an NFT project. Mentioning press releases on an NFT project’s site can help improve its credibility.

Guest Posting

Apart from whatever an NFT venture does officially for promotions, publishing guest posts on reputed blogging sites can aid it in reaching a broader community, including Web3 native and non-native audiences. Content used in such posts should be informative while ensuring necessary SEO elements are present to increase visibility in search engine result pages. Also, a point to remember here is that direct promotions do not work in this space, as most of the audience here wants to know something new.

Search Engine Optimization (SEO)

Search Engine Optimization (SEO) helps an NFT project establish its presence online. Experts can help to rank the project’s website to be shown on the first pages of search results. This is highly helpful as doing so allows the project’s website to generate organic traffic, which can help in the long term. Having a list of keywords relating to the NFT project is immensely helpful while optimizing its website for search engines.

“Content is the reason search began in the first place.”

— Lee Odden, CEO & Co-founder, Top marketing.

Email Marketing

Sending emails has become a popular NFT marketing strategy that most NFT projects use. Promotional emails and periodical newsletters are the go-to ways to email after a project has access to its community members’ email addresses. Content captivating readers, along with an attractive Call-To-Action (CTA) button, is the most welcomed marketing email format. This is a dynamic strategy, which means a project should adapt to the latest trends and change the approach per reception from the community.

Video Marketing

Increased access to the internet among people has made videos a powerful tool for communication. Projects can use them as part of their NFT marketing campaigns using platforms like YouTube and TikTok. Presenting informative content filled in a vibrant tone can be helpful for an NFT project to capture followers. A mix of full-fledged promotional and explanatory videos can help to keep your audience interested in your NFT project.

Ad Campaigns

As search engines and social media serve as the fundamental element for people to access the internet, it is important for any NFT project to use what they provide. Paid ad campaigns are one of the features that can elevate an NFT venture’s presence on the web. Paid services offered by search engine providers and social networking platforms can help a project appeal to broader NFT community. This will be a great promotional tactic helpful from Web2 to Web3.

NFT Roadmap

For any NFT project, its roadmap plays a vital role in forming a foundation. Listing all the project’s milestones along with the expected time can encourage the community to believe in its goal. It is essential that process timeframes are set in such a way that steps can be achieved in the mentioned time without hiccups. Many successful NFT ventures today reached this position due to their well-planned roadmap.

Create NFT Airdrops

As a way to distribute NFTs for free to many wallets at once, airdrops have emerged as a must-have element among NFT projects. These drops are conducted based on previously decided allowlists, members for which can be taken through contests. Giving away some of the project’s NFTs would not hurt its revenues, as the process drives online traction that can be tapped with other strategies to grow its follower community.

Cross Marketing

Cross-marketing for NFT projects refers to the process of collaborating with fellow NFT ventures for promotional activities. Through social media posting and community engagement strategies, NFT businesses can achieve their goal of reaching audiences. For example, a profile picture (PFP) NFT collection project can pair with a well-known PFP NFT collection for advertising purposes. Such collaborations can help the new project increase its value in the Web3 space and have enormous reach.

Podcasts

Another outcome of the increased access to the internet is podcasts, made easy through apps like Spotify, Apple Podcasts, and Google Podcasts. An NFT venture can either opt to host its own podcast or participate in leading podcast programs to speak about what they do. During these sessions, it is necessary to present the project’s user perks rather than hard-selling them to listeners. As an auxiliary strategy, it can help people to understand an NFT project in depth and captivate their interest.

Affiliate Marketing

One of the successful Web2 marketing strategies, affiliate marketing, has expanded into the NFT space. Here, people who promote a project’s NFTs are offered a cut on the sales that occurred from their referrals. This can help an NFT venture strengthen its community by providing an exclusive program for the task. Also, it can serve the purpose of getting new users on board the NFT project while encouraging existing users to get perks.

NFT Listing Services

NFT listing services have become a popular way to market NFTs as people have started using these portals to know the latest project launches. There are many listing sites and calendars available online where projects can apply to get listed. Here, one must ensure to provide links to the project’s website, social media, and community handles, along with descriptions of the project and the founding team that can help in building trust among viewers.

Promoting in NFT Marketplaces

NFT marketplaces for NFT projects are important platforms as they will aid in the primary and secondary sales of their NFTs. Most platforms contain provisions for featuring projects for a fee that can be tapped by projects. Note that these platforms will accept to feature NFT projects only when they are launched on them. Getting featured on these platforms can be helpful for projects to gain reach in a shorter time, particularly close to the launch date.

Marketing in NFT Gaming Applications

NFT gaming has grown manifold since the pandemic, as many people began playing these games for the incentivizing mechanisms. NFT projects based on gaming and related accessories can consider working with NFT games (both P2E and metaverse-based) for promotions using their community strength and online following. Such deals can extend beyond marketing purposes by building long-term partnerships to integrate the project’s NFTs into these platforms, giving them utilities in the virtual world.

Conversion Rate Optimization (CRO)

Conversion Rate Optimization (CRO) helps NFT projects to increase the number of people interested in buying their NFTs. Decoding the Drivers, Barriers, and Hooks can enable ventures to optimize their websites to attract more viewers to take action. By performing the best CRO practices after considering all constraints present, NFT ventures can improve their business.

Voice SEO (VSEO)

The emergence of IoT-based voice assistants has been refining how browsing is done in recent times. Hence, it is important for NFT projects to be prepared to focus on voice-based search queries. This can be done through Voice SEO (VSEO), a special marketing domain that has been evolving recently. Despite being a recent innovation, utilizing this strategy can place an NFT project at the top in 2023 and beyond.

Real World Events

The world is back to normalcy after the pandemic, and this means Web3 events, such as conferences, are back in full swing. Participating in such events in some form can help projects expose to a wider audience and gain valuable insights from established Web3 entrepreneurs. Right from going in as observers to sponsoring the event, there are a lot of ways an NFT venture can be part of Web3 events in 2023.

Which is the Best Way: To Do It Myself or To Have Some Help?

We have seen a plethora of NFT marketing strategies one can use now to promote their venture. But you might have the above question, and the answer depends on your constraints. In case your NFT venture has sufficient resources and workforce, you can consider working things out by yourself.

But, if your team is small and you have less prior experience in promotions, opting for expert help is ideal. There are many experienced NFT marketing agencies that offer world-class marketing services for NFT projects. You can choose one of them based on your requirements and resource constraints. But one thing is sure — having a helping hand does not hurt you, as you can be relieved of some burden.

How Much Does It Cost to Promote My NFTs?

The cost of marketing your NFTs depends on the way you choose to proceed. In case you take matters into your own hands, many factors come into play, including recruitment, training, management, and the actual marketing process. All these factors reflect in the final promotion expenses.

On the other hand, working with an experienced NFT marketing service provider can reduce expenses manifold, as you will need to pay only for promotions. These companies will typically have professionals with adequate knowledge and access to the latest technologies and statistics. The exact costs, though, depend upon individual projects’ needs.

Final Thoughts

Hence, we have presented you with a comprehensive guide involving all NFT marketing strategies a project can utilize to generate high reach and revenues. Although I would not suggest you use all of them at once (it’s impossible to master them all!), I recommend you hand-pick strategies you feel are apt for your venture and execute them flawlessly. Apart from that, it is important to stay true to the goals of the project, which can be enhanced by treating your community and followers closely. Tap on the exciting world of NFTs through power-packed promotions to lead the market in 2023! The below quote can be a starting point for your NFT marketing efforts.