Non-fungible Tokens (NFTs) have had one of the most interesting journeys in the blockchain sector thus far. When they came on the scene, they were the hottest new digital asset but soon suffered a slump with some declaring them dead. Now, they are coming back, and more projects are launching in that space. These projects, however, would benefit from hiring an NFT marketing agency.
While it might seem unnecessary (isn’t all blockchain marketing the same?), it is crucial for anyone looking to succeed in the NFT space. Here are a few reasons to hire an NFT marketing agency.
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Knowledge of NFT Marketing Tactics
Anyone who has worked in the blockchain space will tell you that no two blockchain-based assets can be marketed the exact same way. As we’ve explained in our previous post about NFT marketing tactics, NFTs have to show value, offer exclusivity, and much more. If you are working with an NFT marketing agency with no experience, they might end up marketing your asset like regular crypto, which does you no favors.
Ideally, you want to work with an agency that knows how NFT marketing works from previous experience. Additionally, the agency will understand how these tactics have evolved. The way NFTs need to be marketed in 2024 is not the same as in 2021, and a seasoned agency will know what is relevant to use and what has since become outdated. Because the NFT scene is so tricky, you’ll want the guidance of an agency that knows its way around it.
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Access to NFT Influencers
Influencer marketing is one of the best ways to promote a product or service, including NFTs. But the NFT influencer scene can be tricky to navigate because it is so niche. Which influencers will offer the best ROI? How do you track performance? The NFT scene has changed a lot in the last few years, and this means that the influencer landscape is not what it used to be.
As with our previous point, an agency will be more familiar with the NFT influencer scene and likely already have relationships with NFT influencers. Rather than going through trial and error to see which influencer will be a good fit and deliver results, they can instantly pair you up with the right one. This also comes with negotiating the best rates, guiding the campaigns, taking stock of the results, and much more. If influencer marketing is a part of your NFT marketing, an agency would be a good call.
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Access to NFT Channels
A big part of the success of an NFT project is having access to the right channels. This includes marketplaces, closed communities, publications, and so on. Because the NFT space saw a contraction in the last few years, many of these channels have closed rank, and communities have become harder to penetrate. But if you’re working with an NFT marketing agency that has been operational for a few years, they likely have these connections already.
Want to have your collection on the front page of a marketplace? They likely know who to speak to. Want to have your project featured in an exclusive NFT investors group? They probably know some of the admins. This connection means that you can bypass many roadblocks that others might face and give your campaign a headstart, and this is yet another benefit of hiring an agency.
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NFT Marketing Agency Experience
We’ve touched on NFT marketing agencies and how they can help manage influencer engagements and overall marketing tactics. But another thing that should be noted is their experience with all the smaller parts of an NFT marketing campaign that you might not consider initially. First, there is the budget. Because the NFT space is booming again, marketing assets are more expensive. However, despite the challenges, an NFT marketing agency can help you maximize your budget.
They will also be familiar with the best times to launch a campaign. Trends in the blockchain space swing back and forth, and the right NFT marketing agency can recommend the right time to move forward with marketing efforts.
Finally, they can help you navigate the legal landscape of promoting digital assets. Several influencers and celebrities have gotten into trouble for NFT promotions, and the legal status of NFTs has been in limbo for a while now. The laws around promoting NFTs, especially with influencers, have been evolving for years, and you’ll have to work around them to avoid falling on the wrong side of the law.
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Campaign Feedback
After you’ve gone through the trouble of running a campaign, you’ll need to review it and see how well you have performed. This will include having an objective eye and highlighting how the campaign performed well and how it needs to be improved. An NFT marketing campaign will do all this for you, especially because they have several points of comparison.
The average NFT marketing agency will run several campaigns simultaneously, meaning they can learn from one another. By hiring such an agency, you enjoy feedback and comparison you cannot get alone.
Conclusion
An NFT Marketing Agency is necessary if you plan to push an NFT project in 2024. Much of this boils down to the fact that they will market your project in a way that speaks to the NFT market and will have enough experience to avoid certain pitfalls.
An NFT marketing agency will be aware of the influencer landscape, legal requirements, marketing tactics, and much more to ensure your project succeeds. And because they would have handled projects like yours in the past, they will have a wealth of experience to tap from.
