With the rise of blockchain technology, a surge in innovation within the crypto and Metaverse space has also taken place. New platforms and applications are springing up, making waves in both the business and consumer worlds. The question is no longer who is the target audience for NFTs, crypto, and the Metaverse. Now, it’s how do we make marketing in these spaces successful. The growth potential for marketing NFTs is immense as more people become aware of these platforms. However, to achieve growth, we need innovative marketing strategies that will capture the attention of consumers and businesses.
Investors and consumers are all looking for the next hot NFT, which could be anything from a piece of artwork to an in-game item. Gamers can own a particular type of item in a game, such as a pair of sneakers or shoes/trainers that no one else can have. It’s virtual and doesn't necessarily have physical capabilities, but you own it. It could be a new release from Nike, Adidas, or an upcoming artist.
The same is true with crypto and Metaverse opportunities. People are looking for a status increase, whether in wealth or in general, and they understand the need to get there first for career or investment opportunities. Getting there first with solid creative marketing is essential to being where the action is and maximizing the hype that's happening. How is this done? Though this is a relatively new space that some have a hard time understanding, it’s imperative to know how to market it regardless. Here are four strategies for promoting the crypto, Metaverse, and NFT space.
USPs (unique selling propositions) are very powerful. They are what makes you stand out from the crowd. This is especially important in an emerging market with innovative products. The most successful crypto and NFT projects have something unique about them. For example, Ethereum has smart contracts. Cardano uses smart contracts as well but also enables identity management. Solana targets speed in transactions. Each of these blockchain platforms uses its USP to its advantage over its competitors.
It can be difficult to zone in on your USP, though, when it comes to technology. If you use a lot of big technical words that the average business owner, investor, or consumer doesn’t understand, it won’t do you any good. Use simple terms that the average person can understand to reach the most people.
Here is a USP formula that can help you come up with your USP if you don't currently have one:
USP Formula - {company name} combines {unique trait #1} with {unique trait #2} to help {target audience} achieve {desired result}
You can use this formula for all your advertising. At Ladder, we've done ads with USPs that were only 90 or so characters, and they performed very well. The secret is that when people see you’re doing something different, and it helps them achieve their desired results in a very simple, easy-to-read manner, then it will convert quite well. As our collective attention spans continue to decline, simple and straightforward is the way to go.
Finding your company’s USP is just one step in de-risking your marketing. Then, you need to use your USP to build a test-driven system like we use at Ladder. We communicate a brand’s unique position without putting their marketing dollars at risk by using creative testing. This allows you to continuously test unique creatives, without putting too much money behind just one or two ads. Because most tests will fail, you won’t spend large amounts of money until you have success. In a space like crypto that often bleeds money, using a test-driven system will allow your brand to keep more money in its pockets.
Your success in the crypto Metaverse hinges on being where the action is. Right now, that comes from leveraging popular social media platforms. Regardless of whether you’re working on a project inside crypto or inside an NFT space, picking a platform where your audience will hang out most is key. Crypto, Metaverse, and NFT projects need huge amounts of support to get off the ground. Support comes from people engaging with the brand, the project, and the people inside of it. The opportunities to engage people can come from outside or inside your community through different social media platforms.
LinkedIn can be your unsung hero. For example, job postings on LinkedIn increased 395% in 2021 for the crypto space. The percentage of profiles where people announced that they now work in crypto has also skyrocketed. As more people become employed in the crypto world, the projects will grow quickly. It’s imperative to set your company up as a leader in the industry, showing up on these platforms with digestible content that shows your understanding in the space.
Creating tailored content in this space is another marketing strategy that is particularly important for crypto-type projects. There are three different types of content to focus on: visual, video, and written. Regardless of the type of content used, what makes it engaging is that it’s current and addresses what your audience is thinking or talking about.
People don’t want exaggerations or empty promises in print. In the investment crypto space, people talk about what innovations or technologies are coming out that are breaking barriers and pushing boundaries. Writing about this type of content offers your readers a bit of a middle ground. You aren’t exaggerating or engaging in empty promises because you're talking about what's currently happening. This makes the content valuable and useful, especially for people who are very new to crypto. It’s easily digestible.
Visual content does really well. Alan Smithson, CEO and co-founder of the Metaverse, said in a recent interview that adding interactive 3D elements to your website could be a huge upgrade. It's modern, easy to implement, and quick. He thinks the next phase of the web will be more like a video game than a web page. Imagine browsing for a pair of shoes on Amazon.com and interacting visually with the content on the page. That’s where he says we’re going. 2D content will still be relevant, but more content will reside within persistent virtual worlds as the Metaverse grows. Upgrading your website or visual content to be more interactive can help to support things in the Metaverse.
Infographics do especially well in the NFT space. Because it’s a new topic that not everyone understands, infographics one of the best marketing strategies for crypto and NFT. They break down the complex tech into digestible pieces that audiences can understand. Plus, this visual content gets three times more likes and shares on social media than any other content format. Neil Patel found success in this when he shared four infographics that received 10,000 shares. Excerpts from articles, interesting facts, statistics, key findings, quotes, and headlines make infographics easy to read and engage with.
Video is another popular form of content marketing in the NFT space. People and executives prefer video to text by 59%, so this should be one of the first strategies you try. Not only is video effective in generating leads, it doesn’t have to require a lot of money to create. Video can be as simple as a person sitting in front of a camera giving tips and insight.
Being a content machine means getting as much content out there as you can in the places where your audience is hanging out and making sure it's interactive, easy to read and useful.
Marketing successfully in this space means you can’t ever get comfortable. New tech is always coming out. In August of 2021, suddenly every media outlet was talking about NFTs and how celebrities were investing in them. Around October, Mark Zuckerberg announced the Metaverse, and the market blew up even more. Large companies like Fiverr started putting crypto into their advertising as a way to get in on the hype early. Even celebs like Snoop Dog and Mila Kunis started investing in the space. Mila herself created the NFT collection called Stoner Cats, although this is a prime example of someone simply riding off the hype. Ultimately, Stoner Cats flopped because the popularity and price went down dramatically once the hype died. This is something to always be aware of. We want to ride the wave, not the hype. The hype is basically a bubble that pops and collapses very quickly. You’ll need to be prepared with insights and data to prove whether it’s a wave or hype. Riding the wave is how you’ll know where to place your ad spend and which creatives to use for the greatest success.
This all proves that you should always be ready for emerging markets because they spring up overnight. If you are doing your research and have the insights, you'll know when an emerging market is about to blow up. Getting ahead of everyone else is how you become the NFT and crypto marketing agency people come to.
Once a market emerges, big investors with deep pockets tend to follow. Grabbing the attention of those deep pockets means being at the forefront with your unique content machine, having high engagement with that content, and developing a solid community around it, whether it’s B2B or B2C. Tapping into markets before they emerge requires insight into audience behavior, what they're talking about, and their tone of voice. Determine whether they’re coming from a place of lack and fear or one of prosperity and optimism. This can trigger different insights into where we're going in the market. Incorporate these insights into your USP by creating different ad creatives that target the emotions each audience has.
We are only seeing the beginning stages of a new adoption as people become more aware of the crypto, NFT, and Metaverse space. New opportunities will continue to spring up as this market grows. Being where the action is taking place will allow you to find your audience. Becoming a content machine will build brand awareness. Zoning in your USP will make you stand out. Being prepared for emerging markets will allow you to grab opportunities before, during, and after the hype. Teaming up and building your network will help you build your very own Rome… but on the internet.
At Ladder, we specialize in fitting in the missing pieces for our clients with our data-driven creative team. Click the link to talk to a strategist about how we can help you with innovative marketing strategies for NFTs, crypto, and more.
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