What Founders Need to Know Before Choosing an NFT Marketing Agency
Video Transcript:
Fritzy: Welcome to the TokenMinds podcast, I am your host Fritzy, the senior content manager here at TokenMinds, a creative engineering crypto and nft agency, helping businesses all over the world with their blockchain and nft development, crypto, and marketing strategy, and token sales strategy. In this podcast, we will dive into blockchain and talk about relevant topics for businesses and Founders. Our guest today is actually from TokenMinds as well whom our audience has heard before on our previous episodes. Mr. Anchor Chan kindly introduce yourself.
Anchor: Everyone nice to talk with you again. I think some of you already know me and we both know also the last podcast before I’m an account manager and marketing expert in TokenMinds, nice to meet you again.
Fritzy: Episode just to share with our audience we will talk about the know-how for our Founders before they choose an nft marketing agency. So I know this may be more like tooting our own horn, but objectively Anchor this is our first question, why do you think an nft project should hire a marketing agency?
Anchor: I think it is quite important to because you know in this web3 right totally different from web2 the commercial ministries in a form what we observe most of our prospects actually before they enter this industry they were more like in a conventional business again this nft and also the Crypto industry it’s a different matter, from the audiences targeting and also for all those technology technical things and also the marketing solutions it’s actually where it is a lot different from the normal ones. So I think for some of all this kind of like nft agencies for sure we also need a really good strategy on that and we usually suggest choosing an agency because, first of all, these agencies actually can provide all those kinds of professional guidance so they’ll normally work already with a lot of nft or crypto projects that know actually how to do this well based on the experience and also since the market is changing, you see the technology is changing and all the kind of strategy change right they actually are the people actually knows that the most then other people and also the project teams because they are not really so spend a lot of time on this nft industry a lot and then for the agency they also understand the latest Market trend.
For example, two years ago it was more like that 2D, two models, 2D nft crypto project when it just started it was like CryptoPunks like a lot of pixelized nft arts without a lot of utilities, a team is not devs it’s still anonymous but then if you check the all the nft projects recently right there’s actually an increasing requirement also from the participants as well at least they want all the team members to be devs they also need to see something really different even not only like 3D designs all those like nice artwork but also a lot of utility they want to see how they can use this nft is that with any metaverse, Game-fi, Cinemaverse, or like the virtual lands, etc. So in this case the agencies know more so they can also provide other strategies and advisories on those kinds of nft utility and future plans and work together on the road maps that are really attractive, and then it’s about to the budget because most of the project actually they actually don’t really have a lot of like budgets already one especially for the startup projects.
So in this case they might be that have no really clear direction like what they need to do first and the thing what’s next in this case they might spend a lot of money on some marketing that really proved to be not efficient at all. For example, we know similar influencers on Twitter and Instagram they have a lot of followers, they also have a lot of engagements, but they normally actually got a lot of bot followers there, and they also faked the comments reviews, in that case, a lot of prices pay them like several hundred bucks but just exchange for a lot of bot followers in a Discord then we need to actually redo a lot of marketing which means that they actually their initial costs are in pain, so in this case, that the agencies can really have to target the best influencers, and also the marketing as a partner and also save the budget actually on the most important marketing strategy.
Then it’s actually for the investor it’s also similar like the last point I mentioned so it’s like a high return on the investment so comparing with what how much you spend and how much you can get from you know the nft drop and how much you can get for the long version developments by hiring an agency actually you can make the most effective solution out of that so spend all the money on the most important and the key Solutions of the marketing for nft and to get the return from a job and also future development, and again for the agency as options we suggest you choose something like some agency really with transparent pricing and also with a good reputation so you can rely on that you can actually get all the things right, outsource to them they can take care of all the things for sure the product team also need to be involved in the whole progress, for the whole session from the beginning to the end once needed. For example the Discord community sometimes we need the core team members also to be engaged with the discussion with the community members but for most things they can actually rely on the agency guys to do for you and then something else like you know all these kinds of software we need to use from the technical side like the development of the bots, the options of the Discord community, the channel setup, all these kind of things, actually, you can also rely on agencies that can take care for you instead of like the project team themselves like search online find out how to do that or the guidelines. I actually save a lot of time. Then yeah I think that is also in general that by hiring an agency that really first can save time and also increase the efficiency of the whole process and also save the budgets and actually make sure that the project team can spend the cost the budget on the most important marketing efforts thank you.
Fritzy: All right. Now that’s out of the way, what do you think founders of an nft project should look out for before they choose an nft marketing agency?
Anchor: This is also a question for almost all the projects once they want to start so first of all you need to do some research online like comparing with different agencies. The first thing you need to consider is their portfolio and experience, so in this case what we suggest that really work with those companies that all agencies have already rights funded, like for a long time because they’ll have more experience, right from the SEO phase, IDO phase, metaverse, and the nft, and Defi. So they have all this kind of experience they can actually get a really good solution by a conclusion from the failure also success cases right from all these projects, and the second delay is actually the reputation. So what I also just mentioned is that you can check also online about some reviews right of the different crypto agencies what kind of like good projects is a successful case studies and projects you can get from them by analyzing those deck you can get from those agencies and compare together and to see if they actually also do a lot of good works no matter for nft or crypto and DeFi, not only for nft because if you see I imagine an agency that work with different categories of projects, like for the recent years, that means actually they really have a good experience on everything so even there’s something happening during the corporation right like when you work together with them there’s something happens then they still have a solution, personal experience right to deal with and to decrease the risk here and also check about how the market themselves, because if you see an agency that cannot really promote themselves well how can you actually trust them right to promote your nft projects right.
In this case, you can also simply check online with some keywords research you can find really some good options online you can see check the content there like their normal blogs or medium you can check how they normally do their promotion, etc., to see okay any of you know the agencies actually really did really well and outstanding work for their competitors on this kind of marketing, in that case, you can trust them the more that they can also do the marketing well for you, and then other things about their budgets.
I suggest actually to check also for the agency that already has transparent pricing right the package on the website instead of like scheduled because you know for everyone the time is precious if you spend a lot of calls like with every agency like figure after the process will be really taking a lot of time so the best options do you like if you can already find some package on the website or you can get some brochures from the agencies then based on the budget then you choose best after all the agencies that work for you. Also in the meantime consider all those last points I just mentioned, and then in the calls when you finalize some good options from research or the brochures or contact with that email, I think that’s anywhere better for you to schedule the call with them to figure out how they can provide you right normally in their calls they can really provide you some strategy and a solution so in this case, you can see if they really understand the brands quickly if they can really get already some concrete solutions in the first call, in this case, it’s used for you to choose the best agency here yeah thank you.
Fritzy: Okay all right so we’re down to our last question I know that for TokenMinds many of our clients come to us before or during payment, during I mean payment of their nft and then their project, and then we help them with their marketing during the process from payment to like the first nft drop. Now, why do you think it’s still important to keep working with an nft marketing agency even after post-mint?
Anchor: Yeah I think it reminds me also of some questions I actually have been asked before from some of the clients like okay, do you see the part necessarily rights, we really do some post-ICO or IDO marketing. So that’s similar to what I told them before, by then I think it’s like two or three years ago when the ICO and IDO were quite hot and popular, so I told them like this okay if you really want to do something right the long term you need to really do this because for those kinds of token things your token projects what they need to consider is that how they can keep track, like traders to buy the tokens that keep good liquidity they keep a good trading volume per day they keep developing their the future products.
I think this also those nft and crypto and different product are a bit different but there’s still a quite similar here so in general, I think for all the nft projects right I mean for the serious ones if they really want to do something long term they need to really consider already the other post-minting strategy even before. The nft drop, and for some really good projects they even will consider everything before they even start a project from the beginning. So in this case I think for what we need to consider for an nft projects, of course minting first, during the pre-minting phase we already think about any marketing solution that can keep and last till your post-minting that we can still continue using, for example, those influencers promotion for some influencers actually for nft marketing that provide actually a turnkey solution and also a long-term collaboration with the project so for example during mint that actually will do some promotion right to get more people buy purchase an nft and mint that, and then also after they also provides all those kind of buys, or the shillings and the marketing to get more traders, to get to Opensea or Rarible no matter which kind of a signal market to actually buy in a cleaner floor price that is super important because in this case I think for the project team that can keep a healthy like a cash flow even after an nft mint because anywhere they’ve spent a certain budget right on developer their products no matter for metaverse or virtual land or games, right, different platforms or digital platforms.
No matter what and in this case we can actually maintain a healthy marketing strategy still even after mint because I saw a lot of projects actually they did no matter whether they did good or bad minting after that all of a sudden the community the social media doesn’t know any updates, the community almost like going to die gradually, no moderators not motivated, and also no updates from the team, that is not good, it’s only for then some short term but for the long-term things have been different. So what I would suggest is to keep developing the product, keep updating, join different events, increase the quality of your moderators, and social media management team, get better content and come up with different ideas like merch, or other events that you can think of to motivate and get engagement.
Keep the engagement in the community by offering also the community members some bonuses, like nft holders can get some good projects whitelist giveaways, and also different benefits that when people actually own nfts, and also if it was a project really want to do something really big in the future. They also need to do more marketing, like keep the hype and also the buzz in the market and which is also super important for them in long term. For example, the boredapes actually did a very nice job, for example, for sure they are the top three projects, what they did is actually they have collab right, and they also did a lot of different marketing viral marketing, for now, they already have a lot of viral marketing from the community managed members that they almost don’t need to spend a lot of budgets on their team marketing by themselves. But in this case, they already also did a lot, like developing different products and thinking about democratic ideas to really keep that. So in general, I think this depends more, I still believe that most of the nft projects actually want to seek long-term development, and also in this case they can also get some benefits for the team, and also for the followers. So it’s super important that we keep working on this even in the post-minting phase. Yep.
Fritzy: Thank you so much and Anchor for that insightful talk until the next one.