I won’t write here about NFTs tech-wise or how the blockchain works. There are plenty of online sources focusing on that. So instead, I am writing to highlight the most critical, often overlooked fact about “The Metaverse” projects. Approximately 90 percent of projects lack any marketing or business sense. They are built only for technology showcase or, even worse – to follow the fad. And that’s what makes them fail miserably.
Instead of asking yourself, “How should I market/advertise my NFT project?” you should rephrase it to “How does NFT release complement my marketing/business strategy?”
NFTs as a medium
Marketing differentiates a temporary fad from a success story and contributes to the legacy brands leave behind. If you broaden your scope from the hype-screaming headlines just a bit and look at NFTs as something that acts as a medium (full of utilities, too) for your marketing message instead of being the message – everything falls into place. NFTs are a great addition to your marketing efforts, as are advertisements, analytical tools, billboards, or other marketing content.
And that’s the only way NFTs can bring value to your business in the long term. Utilize the fact that they provide utility like no other marketing medium.
NFTs as a part of your marketing strategy
But, how to draft a marketing strategy that aligns with your long-term business goals and simultaneously utilizes the blockchain and NFTs properly?
The question to ask is – “Do I need NFTs for my marketing campaign in the first place?”
And this is where you should stop for a minute and think about your brand’s landscape and identity: your audience, loyal customers, competitors, core values, brand tone & voice, etc. If the NFT project augments all of it, then go for it! Otherwise, don’t force it to follow the widespread hype. It won’t be worth it.
I’ve seen numerous projects where people try to onboard users to a Discord server because that’s what everyone does nowadays, only to realize that their customers couldn’t care less for a platform such as Discord. But on the other hand, I’ve also seen many projects succeed because they knew their identity and what makes their audience tick.
Said that here is the “bucket list,” or a cheat sheet you need to go through before even thinking of starting an NFT project:
- Understand your audience – not just the demographics, but their inner thoughts and feelings.
- Understand the possibilities blockchain brings to the table – you need to know what’s possible to do using the technology.
- Create a meaningful story in context with your audience and brand strategy – what’s the point of the NFT release if there is no story behind it? The story needs to resonate with the audience.
- Spread the story via channels that your audience uses – speak their language and use their tools to connect on a deeper level.
- Provide utility in context with your audience and brand strategy – NFTs are much more than a jpeg image linked to a blockchain.
Create a meaningful story
Everything starts with a story, and I am not talking about a story where early crypto holders, now billionaires, hang out as apes in a futuristic yacht club somewhere in 2031. That story won’t work for your audience unless they are hardcore crypto holders (or celebrities dying to look cool) who did not hear about BAYC (impossible) or thousands of other NFT projects with the same, worn-out story angle.
Create a story that means something to your audience.
NFTs are not only for hardcore crypto holders.
The general public will love it too if you know how to speak their language.
NFTs are more than collectibles, art, or whatever dominates today’s space.
Share your story in a way that lets you:
- Foster your community like never before, be up close and personal,
- Give true power to the customer for the first time in history – such as voting rights towards the brand’s direction,
- Prove your authenticity and exclusivity by ditching the “fake it ’till you make it” approach,
- Give value back to the loyal customer, awarding the time and effort they’ve invested in your brand,
- Preach your vision, WHY, and leadership to engage the community of followers.
NFTs let you connect with your audience like no other marketing medium.
The process behind the successful NFT project
It can’t be more simple than this: know your audience, speak their language, be authentic, be bold, create a remarkable story, foster the community and listen to the feedback.
If you’re still not convinced about properly utilizing this fantastic new technology to leverage your brand’s voice, here are some inspirational use cases.
- Providing blockchain domain names
- Building a community around the idea
- Giving them proof of ownership and authenticity of your real-world products
- Or selling digital sneakers to Generation Z 🙂
Technology-wise, possibilities are endless, but you need to utilize them properly for your brand.
What’s essential in this story?
I firmly believe that NFTs, web 3.0, and the Metaverse are just a “messenger” or medium to bring your brand’s voice (message) to the market. So what’s more important – a messenger or a message? It’s up to you, but I would rather say it’s the message.
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