Top Strategies for Driving Demand for Your NFTs
Today’s world, as it relates to NFTs, consists of the unknowledgeable ones, those with adequate knowledge, and the adopters. Unless you are into education, your demand strategies will focus on those with sufficient knowledge and adopters. They are more likely to respond to ads or news regarding non-fungible tokens (NFTs).
How do you get these people interested in your NFTs enough to drive demand for them? While you can tweet about them and host podcasts, working with an advertising network like Bitmedia is essential. With that in mind, here are the top strategies you can use to drive demand for your NFTs:
Targeted Advertising Campaigns
There is no point in throwing your ads out to an untargeted audience and hoping for positive responses. You’ll increase your chances of getting clicks by putting them up for people most likely to want your NFTS. On that account, building your ideal customer persona becomes vital.
With the persona, the targeted advertising campaigns become more effective. Here is how a persona will help you:
- It helps in targeting by showing your ads to specific people
- It reduces the cost of advertising to a broader and uninterested audience.
- It increases your click-through rates.
Like most advertising agencies, Bitmedia can help you reach a targeted audience. It has features to tailor your NFT advertising campaigns and ensure they only appear to relevant and engaged users.
Targeted advertising is a strategy you cannot do away with. With it, you can harvest the extensive reach of search engines and social media.
For example, a user searches for NFTs, and your ads appear at the top of the search results page. The likelihood of getting that click skyrockets.
These are a few steps you can take to implement targeted advertising for your NFT:
- Get your landing page ready.
- Build an ideal customer persona. We advise you to seek expert knowledge while building it.
- Contact the advertising network.
- Define the target audience based on the persona. It could include details like age, education level, location, keywords, income level, etc. – anything that defines your ideal customer.
- Run the campaign.
Contrary to popular belief, influencers are not limited to celebrities. A respected figure with a good following can be an influencer for your NFT. It can range from a few thousand followers to millions of followers.
Instagram, Facebook, and TikTok are popular with influencers. The chart below shows which platforms had the biggest share of influencer campaigns in 2021.
Influencer partnerships add credibility to your NFTs. Partnering with one creates an endorsement for you, breaking the trust barrier with the followers. Hence, they are more likely to come to you.
The brilliant thing about influencer partnerships is that you don’t need a full advertisement episode. A shoutout or an open use of your product (art) can get people talking and interested. Then they’ll knock on your door, seeking the same product.
You can contact influencers directly, but we don’t recommend that. Direct messaging will place you on a long list of creators seeking the same partnership as you. Instead, use an advertising network to connect with influencers.
The network should be well-versed in crypto and NFT to ensure you have optimal connections. Bitmedia is one such advertising network, directly connecting influential figures and thought leaders in NFTs. You’ll have the best chance of meeting the right influencers and striking the best partnerships.
Besides paid advertising, you must drive engagement with your community. Discord is a popular channel that NFT creators use to drive engagement with their products even before launch.
Here are a few tips on boosting your community engagement:
- Host questions and answers podcasts or chat sessions.
- Have giveaways and airdrops.
- Host competitions with valuable rewards.
- Offer bounties for tasks.
Those are a few ideas that will get your community excited about your NFTs. Connect with them at a basic level to build trust and show your commitment to your NFTs. Trust us when we say it is necessary today, where rug and pull charades are everywhere.
Other advertising strategies will benefit from your crucial connection with your community. Remember that referrals are one of the most powerful marketing techniques.
If you haven’t already, now is the time to get your social media presence up and running. It is the fastest way to engage people rather than waiting for them to visit your website.
Popular channels to drive community engagement include Discord, Reddit, Telegram, Twitter, etc. You don’t have to be on all of them, although we recommend that. Pick the one most likely to host your target audience.
Launching a campaign is one step in the advertising journey. Modifications will be necessary to minimize waste and double down on what works. On that account, data-driven insights become central to driving demand for your NFTs.
Let’s assume you began your campaign with a target audience. A section of your target audience may deliver more clicks than others. However, the only way you can tell is through data or analytics.
Campaign performance is also evaluated through data analytics. That is something you need experts to handle for optimal results.
Bitmedia.io is a leading crypto and NFT advertising network with professionals dedicated to optimizing your campaigns. It provides the following insights:
- Audience response
- Campaign performance
- Approach refinement
The performance measures the actual results against the investment and project results. It is one of the reasons we have A/B testing in marketing.
After a while, both approaches are reviewed to see which performs better. The performance metrics can be any of the following:
- Number of clicks
- Number of sign-ups
- Number of people joining your waiting list
- Amount of purchases
Data-driven advertising increases your chances of conversion. It also helps in identifying non-performing campaigns.
Cross Platform Promotion
Imagine a user searching for NFTs on Google or Bing. Then, they see your ads on their Facebook or Instagram news feed. Let’s assume they click, subscribe, but do not purchase.
The next ad will be through email, a more personal approach. This cross-platform promotion is the best strategy to drive demand for your NFTs. However, we do not mean to be intrusive with your ads.
Cross-platform promotions allow customers to move seamlessly and act on the channels they want. They drive engagement by showing up where the customer is. For example, a user can see you on other platforms besides a search engine.
Here are a few benefits of this strategy:
- You will connect with customers on their preferred platforms.
- Your campaign will reach a wider audience.
- It increases brand awareness.
A crypto advertising network is essential to implementing this strategy. Bitmedia.io is a long-standing advertising network with solutions to promote your NFTs across multiple channels.
You don’t need all the above strategies to drive demand for your NFTs. However, we advise going for all if you have the resources to maximize your chances. The next step is contracting with an ad agency.
Bitmedia.io is well-experienced in crypto advertising. We have been in the space for almost a decade, offering solutions, including cross-platform promotions.
Click the button below to get started on your advertising strategy and implementation. Learn about our solutions and how they can help drive demand for your NFTs.