Non-fungible tokens or NFTs are rapidly transforming the world of digital assets and ownership. With sales as high as 2.49 billion dollars in 2021 alone, NFTs are gaining immense popularity among hardcore cryptocurrency investors and art enthusiasts.
As a result of this monumental surge in its popularity, NFT sales today amount to several million dollars per week. This massive growth clearly indicates the potential opportunities and bright future NFTs and blockchain technology hold for all digital artists and creators.
However, like every glaring promise, there is a catch to it. The ease of minting and listing an NFT project has drawn in a flock of celebrities trying to make quick profits by turning JPEGs into NFTs. Consequently, the marketplace is flooded with so many NFTs that are not well planned or marketed and are destined for failure. In fact, “The Whale,” a popular collector with more than 210,000 NFTs to his name, believes 99.99% of the current NFT projects are going to fail.
The most prominent factor that separates a successful NFT collection from the flops is a stellar marketing plan. Let’s take a quick look at one of the most notorious examples of some recent NFT flops.
Celebrity YouTuber and UFC fighter Jake Paul jumped onto the NFT hype train to milk the NFT cash cow. He launched a project named Stick Dix back in November 2021, a collection of 6,969 poorly-drawn stick figures.
The entire project seemed like it was made in a hurry with no proper planning. Moreover, with such a weak NFT marketing game, it was destined to fail. Its current minimum price is about 99% less than its all-time high in November. This proves that no NFT project can achieve success without a proper marketing strategy. And for that, help from a reliable NFT marketing agency is vital.
If you offer services in the NFT marketing space, this is a problem you would be familiar with. How to make sure my client’s NFT project doesn’t get lost amidst the sea of countless NFT collections launching regularly? This is a question that many agencies are still struggling with. Well, the answer is simple: smart NFT marketing strategies.
If you want to save your client’s projects from turning into a disaster, here are some NFT marketing mistakes that you must avoid.
1. Not Having a Dedicated PR Plan
Probably the biggest and the most common mistake most NFT project owners and their marketing teams make is not realizing the importance of a good PR campaign. They completely ignore the idea of reaching out to popular media outlets.
Everyone wants to invest in projects which give them confidence and promise a bright future. So, the foremost criteria any big or small NFT investor and trader will look for are reliability and credibility. It doesn’t matter how great the features are or how well-thought-through the roadmap may seem. If your client’s project cannot win people’s trust, chances are it won’t do well with the price action.
What better way is there to build brand identity and credibility than getting featured on industry-leading crypto and NFT publications having millions of dedicated readers? Moreover, the right PR strategy can also help your client in educating their target audience about their product and its technologies.
2. Not Having a Meticulous Social Media Strategy
Social media marketing is probably the most powerful tool in every brand’s arsenal these days. Social media is the go-to place for people of every interest to communicate and interact with like-minded individuals or groups. Hence, it enables marketers to approach and connect with their targeted audiences easily and quickly.
Not leveraging the power of social media platforms, like Twitter, is another common marketing mistake we witness with so many NFT projects. You cannot expect people to find out about a project on their own without getting the word out there.
You would find the entire crypto and NFT community on Twitter, which is the prime hub of NFT investors and enthusiasts today. Here, they actively discuss different NFT projects they are interested in and the latest trends in the crypto world. The fact that @BoredApeYC gained more than 27k Twitter followers in the past week shows the intensity of the NFT craze on Twitter. So why not reach out to these users directly through Twitter DM marketing for NFT and convert them into potential investors for your client’s project?
3. Not Getting Your Client’s NFT Brand Page Verified
As discussed earlier, people want to see a strong brand image when they come across an NFT project. That is why it is crucial that all the official handles and websites of your client’s NFT brand give off that air of authenticity.
Social media verification is probably the best way to do so. That little blue tick next to your client’s Twitter or Instagram handle (as in the case of Bored Ape Yacht Club) can win people’s trust in seconds. But on the other hand, not having a verified profile (like Stick Dix) can do the opposite in the same amount of time.
Marketing is all about building trust, extending your audience reach, and cutting through the clutter by delivering impactful and powerful content. The same principles apply when it comes to NFT marketing. Understanding the market needs and how they are evolving is crucial to identifying new opportunities and growing your client’s brand.
To stay on top of what’s happening in the NFT world today, you need to start thinking strategically. Moreover, it’s vital to avoid the same marketing mistakes that have brought others down in this wild and volatile place.
If you are looking for a reliable NFT marketing partner to outsource your requirements, hop on to the Facilius bandwagon to get the most bang out of your marketing buck! We specialize in the best NFT marketing solutions and social media engagement for NFT projects.
We are the premier white label NFT marketing destination for hundreds of agencies and brands. Through our reseller-friendly services, we have helped countless agencies to take their client’s NFT brand to the next level. You can check out our Twitter verification and Crypto & NFT PR marketing offerings or connect with us for more details.