By James Davis
With millions of non-fungible tokens (NFTs) in the market today, it is essential for collectors and creators to find a way of increasing the visibility of their digital items if they wish to sell. In this guide, we will take you through the process of advertising your NFTs. Please keep reading.
What’s NFT Advertising?
Before diving into NFT advertising, let’s define an NFT. Simply put, an NFT is a unique digital asset representing ownership of something, such as music, art, or virtual real estate. That said, all the marketing and promotion activities of this asset can be referred to as NFT advertising.
Funds spent on advertising by creators are expected to increase as demand for NFT continues to grow. Market research conducted by Grand View Research shows that the NFT market size will increase at an annual growth rate of 35% in the next seven years.
How Does NFT Advertising Work?
Most tech companies, including Google, TikTok, and Facebook, do not allow paid advertisements of NFTs or any other crypto products. For this reason, NFT creators have turned to owned media to advertise their projects. But what is owned media? It describes digital marketing platforms like branded websites and podcasts that are fully owned and managed by a particular company.
Here is how you can start advertising your NFTs:
Understanding Your Target Audience
To effectively advertise your NFTs, you must first understand the target audience better. So how do you go about this? Building a buyer persona is one of the recommendable ways of identifying potential clients. The persona will provide crucial details about these customers, which you can use to determine the ideal advertisement method.
Choosing the Right NFT Marketplaces
Another major driver to effective NFT advertising is selecting the right marketplace. You want to make sure that the NFT trading platform is in line with the target audience. Factors to consider include the marketplace’s reputation, transaction fees, and the types of NFTs listed. For example, do not pick a platform that imposes high transaction charges if you have determined that your potential clients prefer cheaper fees.
Creating Compelling Visuals and Descriptions
Before users decide to buy your NFT, they usually evaluate the project’s artwork and its title. Therefore, to grab their attention and persuade them to buy, you must ensure your NFT has compelling visuals along with a catchy title and description.
Leveraging Social Media Advertising
As mentioned earlier, many social media platforms do not support NFT ads. However, that does not mean you can’t post your art piece on your social media account. In fact, many popular NFT collections today were first marketed by their creators on social media platform Twitter. You can also build an online community around your project on this Elon Musk-owned app or choose other platforms like Reddit and Discord. The upside of social media marketing is that it is cheap. All you have to do is engage with the users consistently.
Partnering With Influencers
Collaborating with influential individuals in the NFT space boosts the visibility and credibility of your project. These influencers can promote your NFT project through giveaways, sponsored posts, and exclusive content. For this advertising method to work, ensure the person you collaborate with has a following that aligns with the project’s objectives.
Exploring Display Advertising
Display advertisements usually come in the form of banners colorfully designed to attract the target audience. To carry out this type of advertising, you will need to identify websites offering affiliate marketing. In addition, ensure the sites are focused on crypto-related content to improve the chances of reaching potential clients.
Conclusion
Good marketing is useless when the product’s quality is poor. Therefore, before spending your hard-earned money to run advertisements, make sure your NFT project is solid. If this requirement is met, proper advertising can help create awareness of your project, leading to its success.