If you go on Facebook or other social platforms, you’ll always see the talk about NFTs. You might be wondering if NFTs are just a hype or are they going to stay as the Internet did.
You’ll see Gary heavily promoting his NFT Project, VeeFriends, on Twitter.
But it’s not enough to just create and support NFTs, you also need to know how are you going to benefit from them.
Yes, you can sell NFTs and make money off them. But you can also utilize NFTs as part of your marketing campaigns.
With over a hundred NFTs being created each day, it’s now getting harder to get noticed with all the noise. Fortunately, this article will get you covered.
What is an NFT? (and what is not?)
NFTs are digital assets that uniquely represent real-world objects like artifacts, music, video, and other items.
Uniqueness is greatly emphasized here because unlike other digital products, you cannot duplicate the same NFT that will look exactly the same. It’s like the one and only Mona Lisa but digitally.
On a more technical level, most NFTs are part of the Ethereum blockchain, but other blockchains have also implemented their own versions of NFTs.
The latest statistics suggest that NFTs are one of the most exciting trends to ever hit when it comes to the world of cryptocurrency.
As of 2021, according to Financial Times and Chainalysis, more than 300,000 NFT owners are holding around $2.7 million worth in value.
You might be thinking that NFTs are just randomly created but that’s not true. NFTs are created with a purpose, not just for aesthetics. One example is you can use NFTs as part of your marketing strategy if you are into business.
This strategy is called NFT Marketing and here are the benefits once you implemented this strategy into your brand.
The point of brand experience is to let people feel emotions when interacting with your products. An example of this is the feeling of high status when it comes to owning a Macbook or a Rolex.
2. More exposure to people
In the world of marketing, there are many benefits you can enjoy for your business if you do have a marketing strategy in place. One of the benefits is putting your brand out there in the digital world.
Because no matter how good the product is, people won’t support it if they don’t know that you exist. So exposing your brand as NFTs to the right people makes sense.
3. Generating interest in your business
Your NFTs can be symbols of your business or even yourself. It’s like a logo that represents your brand but on Steroids.
When people are seeing your NFTs and they are associated with your business, it’s like hitting two birds with one stone. You are promoting your NFTs and business at the same time.
4. Only a few (smart) people are using it
A lot of smart people are leveraging them already. Some of them are already sharing their NFT stuff on Twitter and email list.
Here, take a look.
Email from directtoconsumer.com
Email from Swipefiles #2
Here are some ideas on how to use Web3 and NFT technologies to market your business.
1. Use NFTs on your existing Shopify store
One of the best ways to market your Shopify store and products is through NFTs. Imagine the leverage you can have on Twitter, Telegram, Instagram, and other social media channels because that’s where NFT creators and supporters are hanging out.
Using NFTs might also be a better way for people to remember your store where they can easily spread your brand awareness with other people.
2. Join NFT marketplaces/platforms
Every NFT marketplace is different and it has its own rules on how it operates. The NFTs that are available, their fees and payment options, and the blockchains that are permitted will vary for each platform.
3. Use it to gate exclusive content
NFTs are not only representations of your brand but they can be used for other purposes such as having exclusive access to restricted content. This is called tokengated commerce.
It’s like having a Patreon without the monthly payment and the NFTs are used as keys so that you can have access to exclusive content. This type of setup gives the impression of being unique and having VIP feels like a reward to your loyal audiences.
4. Do NFT Giveaways
This will pull lots of people to you thus bringing more exposure to your business. The winners who received the NFT will share the experience with their friends which will create the hype and excitement around your brand.
5. Connect with NFT Community on social
NFTs are making huge noises on social media platforms like Twitter and Facebook. This has made influencers and celebrities build their own NFT communities where they can share the latest developments.
If you have an NFT community composed of large followers then you can take advantage of that by hosting Q&As, strategy sessions, or giving rewards to loyal members. This exclusivity can make all the members of the community get closer to one another.
6. Use NFT coupons
Ordinary discount coupons can be tokenized in the form of NFTs where people who availed of the tokens can get discounts or freebies from another one of your businesses in Shopify. These are called NFT coupons.
It’s a win-win situation wherein you’re both promoting your NFT and your business at the same time. This will lead to new customer segments to the brand as people are addicted to the impression of getting discounts and freebies.
7. Partner with brands
Famous brands like Nike are also into NFTs like its first collection of virtual shoes called Cryptokicks which has been made by great designers and artists.
Much like Nike, your NFTs can make the spotlight immediately when partnered with the right brand that has been well-known already. This is effective especially if you and the brand share common passion and interests which is essential in forming a partnership.
8. Partnership with Influencers
Just like partnering with brands, you can also leverage on partnering with famous Influencers as well. Imagine getting access to their followers while the influencer is marketing the NFT for you in front of their audience.
Examples of influencers who are into NFTs are Gary Vee and Snoop Dawg. This marketing strategy is one of the powerful ways to cut through the noise because every day, people are listening to these influencers.
9. Paying for Ads
This tried and tested marketing strategy is good for targeting your ideal clients with high accuracy if you have additional money to spare.
Ads work on any products or services so they will also work in promoting NFTs. Paying for ads is a surefire way to get the traction you need to spread the word about your NFTs.
10. Using Discord & Telegram to build communities
Building communities on those platforms will make it easier to communicate with your followers with whatever you need to tell them. This will also establish stronger bonds and relationships with your people.
11. Co-market with NFT creators
In the business world, it’s not uncommon to see two entrepreneurs join forces so that they leverage the much bigger shared resources. In NFTs, the rules also apply the same.
When you collaborate with fellow NFT creators, you can tap into their audience and they can become your followers. Any promotions and campaigns that your partner is doing, you can piggyback on it as well. So it’s a must-have strategy!
12. Associate them with famous Newsletters
Some platforms provide all the top NFT industry news through their newsletters and it will be very helpful if you leverage your NFTs with them. The downside is you have to pay them in order them to promote you just like any newspaper.
There is no doubt that NFT is the next big thing for marketing. It’s still in its infancy
stage but it’s growing fast — now is the best time to get involved.