Over the recent years, many NFT investors and companies have run into the dilemma of investing thousands to millions of dollars into minting and collecting NFTs with no way to sell their products. This problem has led people to ask how to get their NFTs out to the public. This guide will serve as a way to utilize NFT marketing to its maximum potential, using influencer marketing to help get your NFTs off the shelf.
Overview of NFT marketing
To understand the crux of the influencer marketing strategy, you have to ask yourself a couple of questions. “Why should people trust me?” “If they don’t, how do I get them to trust in my product?” Just like how you might depend on certain online personalities to help you understand what TV or smartphone to buy, the average NFT customer has leaders and personalities in their field that tell them what to buy and what to trust.
To get into NFT marketing, you have to appeal to audiences’ sense of ethos by tapping into NFT influencers. If you can get a major influencer to endorse your brand, they will provide the services of:
- Teaching their followers the value of your brand.
- Creating an aura of credibility around your brand.
- Driving traffic to your NFTs.
Figure Out Your Niche
A person who understands who their customer is and what niche they occupy will outcompete any marketer with 10x their budget but no clue what niche their customers occupy. A good metaphor for this type of thinking comes from the website Token Minds:
“At first, you might try to promote your collections to anybody who purports to like Mercedes Benz. However, this technique is dangerous. Rather than marketing to anybody, you better segment your audience further. For example, you can promote your Mercedes Benz NFT to hobbyists and a group of exotic car lovers.”
This idea is called market segmentation, and there are 4 types that most marketers will be familiar with.
- Demographic segmentation: Try and define your market by their age, sex, income race, and educational level.
- Behavioral segmentation: Look at your audiences’ shopping habits, actions they take, and benefits they are looking for or their perceived loyalty.
- Geographic segmentation: Look at where your core demographic is located.
- Psychographic segmentation: This type of segmentation builds on demographic segmentation by asking why your customers buy certain products and adding those pieces of information to your marketing strategy.
After finding your niche, you have to find influencers who occupy your niche.
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As a marketer, you need to study your potential customers. That means going to conferences and going to the comment sections on Reddit threads, YouTube comments, and discord groups. By studying what people are saying, you can get your finger on the pulse of what your potential customers are looking for in an NFT, what forums and influencers they listen to, and other general pieces of information that can be useful in your marketing campaign.
Quantitative Factors in NFT Marketing
When looking through potential influencers you might want to work with, you have to investigate whether your influencer is big on the platforms you are trying to use. If your NFT project is dependent on using TikTok as its main channel, you might not want to hire an influencer who is big on YouTube but has minimal impact on TikTok.
Other factors you should consider
- Growth rate, measured by views, subscribers, and engagement
- Content type and quality
- Perceived reputation by other influencers in that niche as well as their audience members
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Qualitative Factors in NFT Marketing
The chosen influencer’s personality and values are very important. You might want to go with someone who doesn’t generate drama or conflict due to personality issues, or you might want to go with these influencers due to the vast amount of exposure they bring. In any case, you want to utilize influencer personality types on purpose, with full knowledge of who they are.
Another thing to consider is the fact that these influencers, whether you like it or not, affect your branding and how core customers see who you are. In the worst case, a bad influencer will make your brand untrustworthy or undesirable. In other more common cases, they may orient your brand image to be slightly different from the customers you are looking for. Your NFT marketing campaign will then suffer from unintentional segmentation
To see great examples of brand collaborations, click here.
Areas to find NFT influencers
- Social Media: Look through Instagram, TikTok, YouTube, and other channels to see who the biggest influencers are in your niche.
- Comment sections: Look through websites like Reddit, Facebook, and Twitter to see what channels and influencers your customers are looking at.
- Crypto Influencer Agency: More likely than not, creating an NFT marketing strategy from scratch will not lead to as many sales. That’s why you should utilize NFT marketing companies like NeoReach to help you figure out who your target demographics are, as well as the best ways to reach them.
In your endeavor to create a viable NFT marketing campaign, you should start by figuring out your niche. Don’t be afraid to segment your audience members into specific groups utilizing the strategy of market segmentation. Next, you should frequent social media and discussion boards to find out the most popular influencers in your niche. Then, whittle down your choices by looking at quantitative data like growth rates in subscribers and engagement and qualitative data like if your influencer’s personality reflects your brand’s image.
This article was written by Benjamin Byun