Web3 and NFTs are rapidly gaining popularity in the digital world, and it’s essential for businesses and creators to understand how to market these new technologies on social media. The key to successful Web3 and NFT marketing is to use data, statistics, and expert advice to grow your community and increase engagement. To create a successful Web3 and NFT marketing strategy on social media, it’s crucial to understand your target audience and what platforms they are most active on. For example, if your target audience is primarily Gen Z, then TikTok may be a valuable platform to focus on. Additionally, creating visually appealing content and using influencer marketing can help increase engagement and reach a larger audience.
Recent examples of NFT projects that have done well on social media include Moonbirds NFTs. This project created a unique, engaging, and interactive experience for their community by using a variety of social media platforms, including Twitter, Instagram, and TikTok. They also used influencer marketing to reach a larger audience and drive sales.
In this article, we will highlight the different social media platforms and how to market Web3 and NFT projects on them. We will share advice, case studies, and engagement tips to grow and curate your community.
How to engage on social media as a Web3 and NFT project?
When it comes to social media platforms, we have many but the top platforms tend to drive all the mainstream traffic. For example Facebook, Instagram, YouTube, Twitter, and TikTok are considered the main social media platforms with over 5+ billion users across all. So we will focus on highlighting engagement advice around these social media platforms to drive as much value to your Web3 and NFT project as possible.
Engaging effectively using social media
• Use data and statistics – to understand your target audience and what platforms they are most active on. According to a 2021 survey by Hootsuite, Facebook and Instagram are the most popular social media platforms, followed by YouTube and Twitter. However, when it comes to Web3 & NFT projects Twitter seems to be leading due to the Web3 culture that has been curated and built on the platform. Nearly all Web3 & NFT projects have a Twitter account and utilise it to curate and build a strong community through sharing updates, conducting AMAs/Polls, and engaging directly with influencers and community members.
• Visuals attract – create visually appealing and engaging content that aligns with your target audience’s interests. According to a study by Buzzsumo, posts with images and videos receive more engagement than text-only posts. It’s not necessary that every single post has a visual, however, delivering your content and messaging can be much easier with the help of images and videos.
• Influencer marketing is key in Web3 – utilize influencer marketing to reach a larger audience and increase engagement. A study by Mediakix found that influencer marketing campaigns can lead to an 11x higher return on investment compared to traditional forms of digital marketing. When it comes to Web3 & NFT projects the ROI on such campaigns are much higher due to the market still being in it’s young stage and the huge potential of growth in the future.
• Live and open discussions – utilize live streaming and interactive features to create a unique and immersive experience for your community. A survey by Streamlabs found that 60% of people who watch live streams on social media platforms engage with the streamer in some way, such as leaving a comment and directly engaging via the chat. Conducting AMA on a livestream can be a great way to communicate with your audience and grow a strong community by building trust. Reddit is a great platform to market your AMAs and YouTube provides you with the solution to livestream it to your audience with ease.
• Host your own podcast – try out Twitter Spaces and create your own podcast. People love to listen to content-rich Twitter Spaces that talks about important topics and solutions to existing problems using blockchain and Web3. Twitter Spaces have different forms and you can experiment with forms that work best for your project, for example, Ask me anything, 1-2-1 discussions and interviews, community voices and feedback, interviewing influencers and prominent people, discussing serious topics, talking about your project and how it adds value to the Web3 space and whatever else that might engage your audience and community.
• Understand the data – use data and analytics to track the performance of your social media marketing efforts on your website and make data-driven decisions. By using tools such as Google Analytics or Facebook Insights, you can track metrics such as website traffic, engagement, and conversions.
• Hire an expert! – consider hiring a web3 and NFT marketing agency that has experience and expertise in promoting blockchain and crypto projects. An agency with deep community knowledge will help you develop a bespoke marketing strategy and avoid typical mistakes.
Collaborating with influencers to successfully market Web3 & NFT project
Engaging social media influencers is the most powerful way to promote Web3 and NFT project and reach a larger audience. Here are some tips to help you effectively engage social media influencers.
• Research and identify influencers – look for influencers who align with your project’s mission and values and have a genuine interest in the blockchain and NFT space and whose audience aligns with your target market.
• Reach out to influencers and personalize your message – instead of sending a generic template, take the time to research the influencer and their content, and tailor your message to their interests and audience.
• Offer something in return – always offer something of value to the influencer. This could be a unique NFT or a special offer for their audience.
• Transparency is key – be transparent about your goals and what you expect from the collaboration. Make sure to set clear guidelines and expectations for the influencer to follow and ensure that the partnership aligns with their interests and goals as well.
• Work with the influencer – provide the influencer with the necessary assets, such as graphics, videos, and written content, to help them create high-quality content that promotes your project.
• Understand the data and track the progress – track and measure the success of the collaboration. Use analytics to track metrics such as engagement, reach, and conversions, and use this data to make data-driven decisions and optimize your influencer marketing strategy.
By researching and identifying influencers who align with your project’s mission and values, personalizing your message, offering something of value, being transparent about your goals, providing the influencer with the necessary assets, and tracking and measuring the success of the collaboration, you can increase engagement and reach a larger audience.
Examples & case studies of successful Web3 & NFT projects
There have been several successful NFT projects that have effectively used social media influencers to build a large and engaged community. Here are a few examples and some remarks on their engagements and community building.
CryptoPunks – This NFT project, which features 10,000 unique 8-bit characters, has been a huge success, with some of the characters selling for millions of dollars. The project’s creator, Matt Hall, effectively used social media influencers to promote the project and build a community around it.
What did they do right? Early NFT project that built a strong sense of community and loyal followers known as OGs (Original Gangster) which built the base of NFTs and paved the way towards other projects to follow suit. CryptoPunks showcased the power of a strong community in making a successful project.
Rarible – This NFT marketplace has been able to establish a large community of creators and buyers around its platform. It utilized the power of influencer marketing by partnering with various influencers, both traditional and crypto-related, to promote the platform, and drive sales.
What did they do right? When it comes to NFT marketplaces Opensea is leading the charts, however, competitors like Rarible managed to gain market share through innovative and creative marketing strategies focusing on influencers, collaborations, and partnerships. Rarible curated a community of influencers that promoted the platform across social media helping grow the user base.
Moonbirds – This NFT project has been able to establish a large and engaged community by creating a unique and interactive experience for its community. By using a variety of social media platforms, including Twitter, Instagram, and TikTok and utilizing influencer marketing to reach a larger audience, they were able to drive sales and establish a strong community.
What did they do right? Moonbird success was a piggyback on the initial success of PROOF and the strong community behind Kevin Rose. PROOF had built a strong fundation through their collective NFTs and their collaboration with big artists on a project they called Grails. By having built a strong community and being trusted within the NFT and Web3 communities, Moonbirds was able to grow rapidly faster than any other NFT project at the time. NFT community trusted Kevin and the team and they bought into Moonbirds generating $289 million USD in lifetime sales which is ground-breaking for the NFT industry.
These examples demonstrate how effectively using social media influencers can help establish a large and engaged community around an NFT project. By targeting the right influencers, providing valuable incentives, and creating an immersive experience, these projects have been able to drive sales and build a strong community.
Work with professional Web3 & NFT marketing agency
When selecting a Web3 and NFT marketing agency that supports social media marketing, it’s essential to consider the agency’s experience and expertise in the field. Look for an agency that has a proven track record of successfully marketing Web3 and NFT projects on social media. Additionally, it’s crucial to ensure that the agency understands your specific business goals and can develop a customized marketing strategy that aligns with those goals.At what.digital we look to adapt a hybrid model of marketing through focusing on traditional and innovative marketing techniques allowing us to explore the highest success potential for a project. We focus on data and analytics as it’s essential for us to make sure that the client has a clear understanding of the results and ROI of their efforts. We focus on providing detailed analytics and insights on campaign’s performance and make data-driven decisions to optimize it.