Why utilities are your secret weapon to attract & retain holders
Marketing is easy, right? You place an ad on Facebook, tweet at a load of people and consider speaking to some journalists about why you’re ‘the worlds-greatest creator’. Your target customers will know about you in no time and you just need to sit back and watch the money roll in. Great stuff!
Sorry. It’s not that simple. When it comes to marketing NFTs and engaging with your holders and potential holders, there’s lots to consider and plenty of hard work needed.
Do it right and you stand to make your collection a huge success. Do it wrong and you won’t gain the traction you need, or even worse, you might alienate your audiences.
The good news? We’re on hand to help. So get ready for Tropee’s top tips on how to successfully market your NFT collection, and why using utilities to engage and inspire your holders is central to your success.
1. Work out what you want to say
Planning makes perfect. In fact, marketing starts before you’ve even hit go on your website or minted your collection - and we think that a great marketing plan is essential. It’ll lay out what success looks like and how you get there.
There are plenty of online templates you can use to get going - and we’ve got some tips of our own about what your plan should include. Think:
- Goals and ambitions - where do you want to get to and who are you up against?
- Messaging. Sounds like just a PR term - is actually much more than that. Set out what makes your collection different from your competition and how you want to talk about yourself and your brand.
- Where can you reach your audiences? Where are they online? Are they part of any groups? Do they love a particular event? Mapping where your influencers hang out is a vital starting point in getting your messages heard by the right people.
- How do you reach them? From AMAs and Q&A sessions to hosting giveaways and embarking on media relations, there are plenty of marketing activities you can deploy. Work out what you want to use and how much it’ll cost.
2. Get social & engage your potential holders
Got a plan? Great! Then it’s time to get out there.
It’s fair to say that the NFT market is getting saturated - so the chances of someone discovering your NFT collection by themselves are slim. That’s why our first post-plan tip is to get active on the social channels where your target market naturally congregates. Use Discord and Twitter like a boss and talk to the people you want to know.
Consider tools like Ask Me Anything (AMAs) to let your audiences get the inside scoop on your brand. And think of giveaways too to reward people who are engaging with you. You might want to write some inspiring Twitter threads on what you’re doing now and what’s to come. And you’ll certainly want to tag other folk in the industry who you’re inspired by.
Need inspo? We got you. Check out NFT giants Bored Ape Yacht Club on Twitter for a masterclass on how to get socials right. The team is engaged, friendly and allow followers a sneak peak into what it’s like to work for the brand. From behind-the-scenes at conferences to artwork in progress, the feed is up to date, engaging and inspiring.
3. Let us hear you say utilities!
If your NFT is just a pretty picture, it might get some initial attention, but if it has utility - real world value - it’ll be popular and valuable for the long-term. And utilities can be a great marketing tool, giving your new customers (or existing holders) something special that will keep them engaged with your brand.
Give your holders, and potential holders, something new!
Broadly speaking, utilities fall into two camps: physical and digital. Physical utilities are things like merch and IRL events, whereas digital utilities can be anything from access to closed online channels to metaverse swag such as avatars or in-game assets.
The utilities you offer will depend on who you’re trying to attract and what they want, and the level of investment you want to make in your strategy.
Some utilities are free for a creator to roll out - like one to one sessions with creators or voting rights on anything from new tokens to the future of your collection. Some, you'll have to pay for - like merchandise around a collection or staging an event for holders. These certainly require investment, but the payoff can be big too - holders feel they're getting something really special in return for buying and keeping hold of a token.
Need some examples of what a great utility looks like? We’ve outlined our pick of the bunch in one of our recent blogs. And the great news is that with Tropee, ANYONE can build ANY UTILITY, for ANY COLLECTION.
4. Commit and embrace the journey
Building a community and engaging with them with great marketing activities is a marathon, not a sprint. To be successful you need to stay engaged through a steady stream of activities such as live streams, polls, AMAs, comment floods, Q&A sessions, hosting giveaways, and anything else that engages users with authenticity.
Realise you’re in it for the long-term!
In such a fast moving market you might be forgotten if you’re not seen to be out there - and delivering new things to your audience (utilities anyone?)
Take every opportunity you can get to become a household name and your NFT collection will automatically fetch more cash than a no-name, new artist that just came on the scene.
So, marketing’s not easy - but it is essential. And we can help you get it right. Get in touch with Tropee today and see how we can get you up and running with great utilities which will engage and delight your holders.