Today, sales and marketing and public relations go hand in hand. It’s a win-win situation if you promote your art to people who are more likely to spend money on it. Nevertheless, I notice that some artists, particularly newcomers, they just ignore this process. Instead, they simply mint NFTs and then stop.
Marketing your NFT Collection helps you attract collectors, but it also helps you find future collaborators. Let’s do more than just talk about it. With my step-by-step guide, you will know how to market your NFT collection start off right today.
I use a model that has been around for a long time and is probably used for every product and service on the planet – the 4Ps. Pricing, product, promotion, and place are all part of the 4Ps of marketing, which help you define your offering to meet the needs of your target audience. However, you will notice that I have tailored it so that it is only suitable for NFT products. Let’s go over each one one by one.
Yet, as an artist, keep your mind open to new ideas. Creative marketing campaigns like Virtual Gallery and Interactive Virtual Tour have recently left me speechless as well, so you can also take these into reference.
What do you want to market?
In terms of promoting your NFT collection, understanding what you actually offer is the most important step. Most of the time, a SWOT and STDP analysis (to determine your strengths) should have already been completed (to know how you stand out from the rest). If you haven’t already, return to this page once you have.
It’s not about the artwork, but more about the stories behind them. As a matter of fact, marketing for NFT collections frequently begins with an incredibly interesting tale. If you want your audience to understand the value of your NFT collection and lay out a detailed roadmap for their future and the profit they might receive as early buyers, then you need to do this.
In order to have a successful NFT collection, it must be reliable. As a whole, they appear to be part of a larger and more cohesive art family, with each piece having its own distinct characteristics and personality.
Lost Socks NFT collection is a good example.
There are currently 2500 unique digital characters in their NFT collection. Their story is based on the premise that people frequently misplace their socks, whether they’re dirty or the washing machine “ate” them, and it tells the tale of how real-world socks can be found in the Metaverse. Their narrative is one of a kind and a humorous take on the struggle that any human being faces when they misplace their socks. Moreover, the fact that it follows a pattern that is present in every other NFT collection also contributes to its success.
What pricing strategy are you planning to use?
Customers and collectors are not only looking at the price when they purchase your work, but also at the artistry, utility, quality, design, and sometimes the labor of NFTs. So….. For pricing, there are no hard and fast rules.
My recommendation for setting NFT collection prices is to begin with a low price point and gradually increase it over time. In a marketplace where thousands of NFTs are for sale, it can be intimidating to get started. As a result, lowering the price of your NFTs to make them more accessible to collectors can be a marketing strategy to encourage customer loyalty. It’s more likely that a collectible will change hands more often than a fine art NFT, so you can list your work at a lower price in the hopes of earning royalties. This could lead to an increase in the number of NFTs sold during the initial sale. In the next step, use a linear pricing model and gradually raise the price of your work to reflect the true value of your efforts.
The sale of an NFT is influenced by a wide range of factors that are not directly related to the price. This means that you shouldn’t rely solely on “linear pricing.” There are times when lowering the price of an item does not guarantee that it will sell.
So, it’s fine to set your price high at the first start. When it comes to pricing, it’s possible that a luxury brand t-shirt will cost more than a mass market t-shirt of the same quality, even if they’re both identical. Even if you don’t expect to make a fortune selling your work right away, don’t undervalue the value of your work. Pricing accordingly if you have a strong brand with a premium or exclusive feel. First sales are always the most difficult, but once you’ve made them, you’ll find that you have a steady stream of customers who are interested in your work.
Where do you want to market your NFT collection?
When it comes to choices on where you want to market, you have the freedom to choose how you want to do it. However, if I had to give advice, I’d say go ahead and do them all. Here are some potential platforms along with marketing activities on how to market your NFT collections.
- Twitter: For your NFT collection, you need to set up a Twitter account and tweet frequently. Join NFT discussions and add value to the ecosystem if you want to grow an audience.
- Reddit Quora and Bitcointalk are great places to get the word out about your collection of NFTs. You can post a query such as “Which NFT artists do you recommend?” to gather everyone discuss. It’s possible to use a third-party account to link to your drop and describe yourself as if you were speaking for someone else.
- Discord and Telegram are two of the most popular places for crypto artists to meet, communicate, and exchange work. Just don’t post links to your NFT every 10 minutes in the chat! Make an effort to stick out in the group’s collective memory by participating in discussions, being polite, and doing your best to make others remember you.
- Website: An online portfolio is a great way to show off all of your hard work. As a result, search engines like Google, Yahoo, and Bing are more likely to direct traffic to your website. The artwork, the holders’ benefits, the NFTonomics, the roadmap, and the team should all be displayed there. You want people to be well-informed about your project, to understand why it’s a sound investment and why they should get excited about becoming a part of it.
Lastly, what promotional strategy do you want to adopt for your NFT collection?
Customers will see and reach your NFT collection through this component, so it is critical. However, there are countless locations where you can let your imagination run wild. So, how to market your NFT collection? I’ve outlined some of the best ways to market your NFT collection here, so you can make an informed decision.
Develop an intriguing teaser
The purpose of teasers is to give an idea of what your NFT Project will be about while maintaining a sense of mystery about it. This type of advertising usually piques the curiosity of potential buyers, encouraging them to keep an eye out for updates and to avoid missing the official release date.
For example, KnownOrigin has a weekly page with 4-5 featured drops and a countdown to the release of the next batch. A landing page with information about the drop, images, and a countdown timer is also generated by MakersPlace. On the Nifty Gateway website and Twitter, the company posts a schedule for the following week. Your NFTs will be shared on social media if they make it to the featured drops. So, you get the best of both worlds!
Organize an event (Hackathons or Giveaways)
Many in the NFT community are using this strategy for an upcoming collection. Both NFT collectibles and physical art can be given as rewards for participants. It’s a great way to spread the word about your NFT Collection, as well as a way to connect with new fans.
Collaborating with influencers is one of the most common methods of promoting a product or service. Most influencers have a dedicated following that trusts and respects their recommendations and viewpoints. Influencers are more than likely to request payment in crypto or another form of currency, or to offer you a reward in the form of NFT art.
Even though press releases are more expensive, you might be able to negotiate a better price or even find a benefactor. Maybe you can get an NFT to give you a few press releases. You can get ahead and attract a lot of new members if you’re placed on the right websites.
Submit an application for crypto-related newsletters
You can ask them to include your NFT release in the next newsletter by contacting them. Some are even offered at no charge if you are an active member of the community. Editors are more likely to notice and feature your work when they see it on social media.
A final piece of advice: remember that the heart of your project is the people who make it possible—your community. Therefore, the goal is to build and maintain a strong community. For those who have no idea how to build and grow their community, find this article here, where I present all the tactics to do so.
In this section, I have presented you with all the recommended marketing options for making your NFT collections widely known. If you are interested in these strategic plans, please join our mailing list so that we can better assist your startup.