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How to sell your NFT collection accumulating 1,200,000 USD worth of funds

How to sell your NFT collection accumulating 1,200,000 USD worth of funds?

JUN 2022

Dominating NFT markets. Success story.

Project dates: December 2021 — January 2022

The goal we aimed to achieve was complete sold out of 5000 pieces of NFT collection.
Therefore, the key steps to go were:
— Building a thriving community
— Attracting NFT enthusiasts and gaining the maximum attention of crypto-related audience

The challenge
At the very beginning, all we have had to manage was a non-standard extraordinary NFT collection, having no straightforward selling strategy, no similar cases. The most crucial part was to develop an efficient technique of reaching the target audience, since none of the classic traffic sources were bringing desired results.

How we nailed it?
Guided by the collection-driven topics and our own target audience portrait, we have managed to collect a pool of specifically-themed mass media resources, which are not typically being used to sell NFT collections. Then we combined it with more widely used traffic sources such as banner and contextual ads.
At this stage, we precisely analysed the potential target audience, meaning the possible ways of interaction in advance. We analysed the collection itself, highlighting its core features, and only then we formed the list of promotion tools required for working on such case.
Based on audience analysis, we found out that such common collections promotion tool as influencers marketing is absolutely NOT suitable to meet our needs.

Stage 0. Product analysis and promotion strategy development

Stage 2 results
In just 48 hours we have sold 100% of the total volume of 5,000 NFTs: 2,000 NFTs to whitelisted community members, 3,000 NFTs to the others.
The average check was 240 USD.
Conversion from community members to real buyers — 24,7%.
ROMI — 1300%.
Implementing Stage 2 took us 1.5 months
The whole process took 3.5 months.
Stage 1. Building the community of highly-engaged members
We followed the best guerilla marketing practices to spread the word using our main competitors' social media profiles, cross-gaining their audience.

We have specially built a network of topics and discussions on Reddit and many other social networks to carry out many different kinds of activities within these social media channels.

But the thing that drastically boosted the audience engagement was creating the unique collection's history and gradually revealing it to the community.

We placed our NFTs on tracking platforms, developed custom news-breaks schedule to always keep the audience warm and willing to discuss. Then we ran a targeted advertising campaigns pool, implying social networks retargeting.
Stage 1 results
We have managed to grow the community from 1,000 to 20,000 target members in just 2 months according to the following weekly schedule:
Insights and Conclusions
After the end of NFT collection sale, we concluded that huge amount of attention should be paid to developing and working with the community, engaging community members in spreading the word as much as possible, collecting feedbacks throughout the entire project's lifetime. You have to find a special, individual approach to promote each and every collection, there are no common cases. So, the best promotion practices bringing higher conversion rates are being born right in the process.
See also