Bear Markets aren’t fun for anyone, investors turn down the their risk profiles, and volume, prices and interest all take a hit, making it very hard to market your NFT project. Thats why we created this NFT marketing guide for the bear market!
Previously, NFT marketing has been focused around taking advantage of all the hype surrounding the space, and rightly so, at the time that was probably the most cost effective way to do things, but when the hype dies down, marketers and NFT projects must pivot and find new ways to draw attention and market their work.
It’s common knowledge that Bear Markets are where all the building is done, and building a solid foundation for your project can skyrocket your growth in Bull Markets. The strategies we outline today, will mainly be focused on achieving this solid foundation, and should be implemented in nft marketing campaigns.
Why Is Marketing Your NFT Project Important
Marketing is important to help establish your brand and help your work stand out from the (Open)Sea of other NFT projects out there. Moreover, the NFT space does have a rep for being scam-ridden and out to steal your beloved cash, and a well structured and executed marketing campaign can help in developing trust with your audience, and credibility in the space.
5 NFT Marketing Strategies to get you through the Bear Market
Here are some best nft marketing strategies to use in the bear market and beyond!
1. Invest in your Community
Community is the backbone of any project and a core pillar of any NFT marketing campaign. Creating a strong, vibrant community is imperative for growth. Listen to them, engage with them and take their feedback, as they are the ones who are using your product. When we look at the most successful projects across all sectors, it’s those with the strongest communities that thrive, and still thrive today.
- Engage with your community regularly
- Add value to their experience as a community member
- Show them why being a member of your community is worth their time
2. Leverage Partnerships and Collaborations
Collaborating with other NFT projects is a great way to expose your audience to new opportunities (adding value to their lives), whilst putting yourself in front of new audiences yourself. Growing your network as a project is important, as a single collaboration can open the doors to many more down the line.
Here a few ways to collaborate and utilise partnerships in an NFT marketing campaign
1️⃣ Twitter Spaces/AMA’s
Great ways to discuss projects, wider trends and provide valuable insight to the community — people love hearing the thoughts of Founders and C-Suite individuals. Creating joint twitter spaces and AMA’s bring loads of people around a joint cause, and are a great way for teams to show their expertise.
2️⃣ Cross Community Contests and Giveaways
Drive cross community engagement through various contents and giveaways. Some of the most popular contests involve letting the engage in creative actions, such as art and meme contests. Giveaways also get people going, putting up whitelist spots or a chance at early access to a project are always good ways to drive engagement.
3️⃣ Influencer Collaborations
Partner with influencers and thought leaders in the Web3 space to amplify your brand’s message, reach new audiences, and establish credibility. Influencer marketing is still effective nowadays, and building relationships with influencers now will be beneficial for the future! In any NFT marketing campaign, a form of social proof is powerful, and influencers can help generate that
Before starting collaborations, its imperative that you do your research. Aim to collaborate with projects of varying sizes, but similar user demographics and intent. for example, a game on the Ethereum network will ideally want to collaborate with another game on the Ethereum network, rather than a random JPEG collection on Solana.
Why? Well the audiences are matched with intent, as both want to play games on Ethereum — and so the collaboration will most likely yield better results, whether that be growing community engagement, or attracting more users to the game. Collaborating with every community out there could be a waste of time and budget, with proper research and a database of projects to collaborate with, you can save time and money, whilst maximising your ROI!
3. Keep Social!
Social media platforms like Twitter, Instagram, and TikTok can be powerful NFT marketing tools during a bear market. User Generated Content is a great way to come across as relatable to your audience, especially if there is some utility behind your project. Use hashtags, and value adding content to build trust with your audience, whether that be informational threads, videos, or engaging with them on a personal level and celebrating their wins.
4. Educate, Educate, Educate.
In the grand scheme of things, web3 is still quite small, and up until recently, only those with tech savvy minds and finance backgrounds have participated in the festivities. To grow your reach, and become visible to those outside the direct know, creating educational content is a must.
Educating your audience has 3 fold effect:
➡ Builds Authority
➡ Builds Credibility
➡ Builds Trust
All 3 are important in driving organic traffic, and differentiating yourself from your competitors. Being known as a credible source of info in the web3 space can do you wonders, and is a great way to help bring attention to your NFT project.
5. SEO and Content Marketing
Whilst Brave browser is known as the web3 browser, Google still holds 92.61% of all search traffic, and is the go to query-answerer for nearly everyone. Work on optimising your site and content for relevant and traffic driving keywords. Building a strong base for your organic growth should be a priority, as this will lower your marketing costs, and your Customer Acquisition Cost for future NFT marketing sprints.
But how? well heres a quick framework that can get you started:
1️⃣ Keyword Research
Finding the right keywords to target during a campaign or a sprint is the first action. The ideal goal is to find keyword sets with:
- High traffic
- Low competition
- Varying intent
- Long and short tail keywords
and then cluster those keywords into groups, which can be targeted by blogs. Targeting multiple keywords in a blogs is key🔑
2️⃣ Technical Optimisations
Technical SEO is essentially the website and server optimizations that help search engine spiders crawl and index your effectively.
You can use free software like ScreamingFrog to get a technical audit (for JS sites, you will need the paid version). heres a few things to keep on the checklist when doing technical SEO
- Are you using HTTPS?
- Duplicate pages?
- Is the site slow? if yes, check image sizes
- Are URL’s SEO friendly?
- Is there structured data?
- Are there any 4XX/5XX errors?
- Are all redirects working as intended
- Are the proper canonicals in place?
3️⃣ On-Page SEO
On-Page SEO encompasses all the measures that can be taken directly within the website in order to improve its position in the search rankings and drive traffic.
- Fix any duplicate, missing or truncated title tags
- Find and fix missing, duplicate or poorly written meta descriptions
- Fix all header tag issues — duplicates, missing, missing keyword, length
- Optimize images ensuring correct size and alt text
- Create a solid internal link structure for crawlers AND users — no orphan pages!
- Correct keyword mapping/cannibalisation
- Ensure content is up to date.
4️⃣ Off-Page SEO and Linkbuilding
- Create valuable, engaging content that targets keywords.
- Ensure content matches keyword intent and answers questions
- Analyse competitors links
- Engage in digital PR
Bad SEO is expensive, so do it right the first time.
Bonus: Test, Test, Test!
The good thing about Bear Markets, is that there is less pressure/FOMO for burning through your marketing budget — that being said you should still test. Get creative, see what works and what doesn’t, double down on winners and cut losers. Its primetime to test out new strategies that you may have been sceptical about before. To really take your project to the next level you need to push the boundaries of whats possible given limited resources.
Thats a Wrap🌯
Marketing an NFT project during a bear market requires perseverance, creativity, and tenacity. By building community, leveraging partnerships, educating audiences, keeping active on socials and prioritising organic reach, you can boost your chances of success and grow your project.
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Looking to breathe life into your project and survive the bear market? We are your NFT marketing experts
We are have just launched our Foundational Growth Campaign, to help web3 innovators build a solid base for their growth.
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