Uploaded your NFT months ago and nothing is selling? You are missing the other part: marketing
In advertising there is always an "expectation" / "reality" moment because it plays with emotions, needs, desires, thoughts of what "is better or worse" to persuade a decision-maker. In the end, you have to work hard on that benefit that your client would get if he bought your product, be it a car, a house or an NFT.
That's why many NFT artists still fail to have that expected sales boom, because they fail to convey the real value.
“But Valeria, NFTs are art and they are bought because they are cute and people like to have them”
Well yes but no. Art is subjective, that's why they sell millions of ugly NFTs while others that we could consider more artistic remain stagnant. In the sale, art or perception has little to do with it, but how you offer it has a lot to do with it.
That is why before entering the strategies, be very clear about what the direct benefit that you offer to your potential clients will be.
For example, you are a tattoo artist and you want to make your designs in NFT, what if with the purchase of one you win a free small tattoo? And if someone outside of Chile buys it, a design to be tattooed elsewhere?
If your collection is innovative in some way, it can attract the special attention of those who invest, because they know that, if it reaches the right amount of audience, it will be something to talk about.
An example is the well-known Bored Yacht Club (Yes, the monkeys) that, generated automatically and randomly, provide benefits for those who buy them:
Here we already see an exclusivity value, in which those who own one of these 10,000 NFT will be able to enter different digital spaces (not yet created, except for The Bathroom ).
And this benefit is not offered by all NFTs, it is something to talk about and indeed many consider them a great investment opportunity.
Let's think about “status” one automatically thinks of a lot of money, but it doesn't have to be that way, status is related to the social position you have within a community.
For example, you can have status or social recognition within a wealthy community, or another with another type of interest, for example, an industry.
Even so, Dolce Gabbana aimed at this "status" by creating its own line of NFTs in 2021, with which they raised close to 6 million dollars:
Keep this in mind, because unless you work with a marketing team, it will be up to you to do all the promotion.
Once you have the answer, we get technical:
Before thinking about selling, consider that if you don't have a community, it will be more difficult for you to sell your first NFTs.
A community (or followers) are people who follow you through different channels because they like your content, your action generates a reaction in them that motivates them to follow you.
To teach you how to create a community, we'll need another article, but for now, consider these tips:
- Give them attention, if you are on social networks, do not limit yourself to just publishing and then checking the likes. Reply to comments with opinions or questions to spark conversation, do Q&A sessions, say thank you to a featured fan.
- Let them know you, maybe they are not interested in your identity, but in the person behind the art, whether you want to reveal who you are or not, use social networks to tell them about yourself, your likes / dislikes or even your process creative.
- Show them the magic , can you imagine how entertaining a broadcast on Twitch or another channel must be where you design a live NFT and then raffle it among those who share your art? This type of strategy greatly increases engagement and will make your followers very attentive to your broadcasts.
Father Philip Kotler, also known as the Father of Marketing, was in charge of disseminating the concept created by Jerome McCarthy called "The 4 Ps of marketing" (Product, Price, Place and Promotion).
If you create your NFTs, we could say that you already have the Product and the Price. But where do you sell it (place) and how do you make it known (promotion)?
We are referring to the site where you will put your digital art for sale, the most popular channels are marketplaces such as OpenSea.io, Rarible or others, however, you could also choose to sell them on your own website, but it would be much more complicated.
OpenSea allows you to earn a certain percentage when one client sells your NFT to another, allowing you to make a profit whenever your NFT is resold.
In your first transaction within the platform, you will have to pay fees for gas use, but only once until you pass 50 transactions.
On the other hand, Rarible allows you to decide if it is you or your client who pays the fee for the purchase, however, by doing this, your designs go to a Rarible folder and not to your own collection. To have your collection, you must pay for the space.
There is no better or worse, however, since selling NFTs is also about exposure, the usual thing is to publish them in all possible marketplaces to test where your audience responds best.
It is a simple website where you can publish your collection of soon to be released NFTs along with other details, of which the benefit should be clear.
For example, this description does not give a benefit, perhaps it is a shame.
On the other hand, this one is clearer:
In that sense, we can see a formula: What is your NFT? + Who is it for? + What benefit will the person get from buying it?
Try it out by describing the collection of your NFTs!
Keywords play an important role when writing the description of your collection, as Google search engines read the content of each site and many other parameters before deciding which pages to show in search results.
Some sites also work like this, for example, when you write “bimbo bread” in the search engine of the supermarket site and you get all the results associated with the keyword “bimbo bread”.
The same goes for your descriptions, try to write words that you think people who would buy your NFTs would write, for example, if your collection is about puppies, make sure you write something like:
“Meet the cryptoDoggies, the NFT collection of puppies for those who are obsessed with their pets”
That will increase your chances of appearing when someone Googles that search term.
We already talked about the marketplace, which will be where the sales transaction is generated, but the promotion is not focused only there.
Consider that NFTs are naturally digital assets and, therefore, should be in channels intended for such, for example:
- Instagram has a visual and perfect mobile format to promote your NFTs
- Pinterest, which works like a Moodboard, is also a visual channel.
- Twitter, which although its purpose is not so visual, lends itself and is popular in crypto and NFT conversations.
Bonus : Just as it posts organically, you can give it a boost by doing paid advertising on said social networks or Coinzilla , a crypto-focused advertising platform.
Your community does not have to be millions of people for it to have an effect, even with few followers you can achieve good diffusion, yes, they have to be very well segmented with the user profile that would be interested in your art.
Organize contests or activities whose objective is to share, also use honesty and tell them what you want your project to reach more people and support you.
Enter as many Discord, Facebook or forum groups as you can, and share your project, dedicate time every day, perseverance pays off.
Lean on other creators, not everything is competition, knock on doors and offer collaborations so that you can reach the audience of other artists and they can reach yours. Together you go further!
Now that you have more promotional tools, do you dare to try any? With patience and perseverance because Rome was not built in a day, trust your talent and success in the process!
And of course, if in addition to NFTs you also venture into cryptos, at Orionx we are for you.