The market for Web3 has elevated to new heights as people started accepting digitization will prevail in the future. Cryptocurrencies and non-fungible tokens (NFTs) have redefined how we go about our time online, as these digital entities provide power to consumers.
But, how and why people adopt NFTs into their lives? Working strategies such as non-fungible token marketing play a vital role in increasing Web3 adoption among the public. We all know NFT marketers use various tactics to promote their projects to their target audience. But, there are things you might not have seen elsewhere yet, and this article is here to reveal some of them.
What Do NFTs Have on Offer for Everyone?
We all know non-fungible tokens (NFTs) serve as proof for authenticity and ownership of any product. Most NFTs are digital in nature, enhancing their usage in a digital-savvy world, where copyright issues have become normal occurrences. Through NFTs, such problems can be resolved, by registering digital content forms on the blockchain that can trace the history of ownership and transactions.
Such properties allow all kinds of users – businesses, creators, marketers, and consumers to utilize NFTs in different ways, creating meaningful connections as a result. Our focus here will be from a marketing perspective, as most credits go to marketers for making NFTs well-known to a significant part of the global population.
Non-fungible Token Marketing:
The Redefined Pathway While promoting NFT ventures, marketers often lean toward using the modified AIDA hierarchy that was framed keeping in mind the advancements in online trading. This hierarchy was initially utilized for eCommerce businesses, and marketing professionals now taken it a step further into Web3. While the modified AIDA hierarchy talks about Attention, Interest, Desire, and Action, it also has a Post-purchase stage that can help businesses ensure success in the long term.
Here’s how the modified AIDA hierarchy’s pre-purchase part works for non-fungible token marketing:
- Attention:
The first step is to grab the attention of potential buyers. This can be done through various means, such as social media advertising, influencer marketing, or creating unique and eye-catching NFTs that stand out from the crowd.
- Interest:
Once you have the attention of potential buyers, you need to pique their interest in your NFTs. This can be achieved by showcasing the unique features and benefits of your NFTs, such as limited edition or rare attributes, providing a backstory about the NFT or the artist behind it, or offering exclusive perks to NFT holders.
- Desire:
The next step is to create a sense of desire among potential buyers for your NFTs. You can accomplish this by emphasizing the scarcity or exclusivity of your NFTs and highlighting the potential for future value appreciation. Additionally, creating a sense of community around your NFTs can also help build desire and create a feeling of belonging among potential buyers.
- Action:
Finally, you need to encourage potential buyers to take action and purchase your NFTs. This can be done by providing a seamless and easy purchasing process, offering incentives such as discounts or bonuses for early adopters, or creating a sense of urgency through limited-time sales or auctions.
How Does the Post-purchase NFT Marketing Process Look Like?
With the modified AIDA hierarchy for NFTs, it is essential to work even after the NFT venture is launched to the world. As NFTs are digital in nature (mostly), it is necessary to keep the buyers engaged with the venture after purchase.
Neglecting to do so will result in the project’s value going down over time, with skepticism arising on the project team.
Here’s how the post-purchase part of the modified AIDA hierarchy works for NFT marketing campaigns:
Satisfaction: After a customer purchases an NFT, the first step is to ensure their satisfaction. This involves delivering the NFT as promised and addressing any concerns or issues that may arise during the transaction process.
Engagement: The next step is to engage with the customer to build a relationship and foster a sense of community around your NFTs. This can be done through regular updates, exclusive content, or events that are only accessible to NFT holders.
Loyalty: As you engage with your customers, you can build loyalty by offering additional benefits or perks to NFT holders. This can include early access to future releases or special discounts for repeat purchases.
Advocacy: Finally, you can encourage customers to become advocates for your NFTs by sharing their experiences and promoting your brand to others. This can be done through referral programs or incentivizing customers to share their NFTs on social media.
Conclusion
Thus, we have seen how marketers should go about non-fungible token marketing campaigns. The usage of modified AIDA hierarchy with elements for post-purchase have turned out to be successful for NFT projects with true intentions.
If you are an entrepreneur wondering on how to promote your NFT project, this blog might have given you the necessary steps you can execute to get optimal results. On the other hand, you can opt for expert help if you are not well versed in the nuances of NFT marketing.
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