How should you pick a date for your NFT drop?
Most people choose Mondays that are neither public holidays nor take place during the holiday season. Some people choose an NFT drop date two months out from the date of their marketing campaign launch, while some even hire a psychic reader to read their tarot cards to determine the best timing!
What should be taken into account before scheduling your launch?
Unpredictable “black swan” events can throw your campaign out of the limelight, so make sure to be flexible and check the news on the day of your launch. As an example, to avoid such an event, some of our clients had to reschedule a drop from February 24, moving it ahead by a month. Unfortunately, another group of clients we were consulting did not take our advice and proceeded with their campaign – 25% of their whitelisted members never showed up. Coincidence? We don’t think so…
Fierce competition. You know your competitors, or at least, you should know them. If you don’t think you have any – you are either foolish, overly self-confident, or inattentive. Before launching your marketing campaign, you should take some time to identify your competition. Even if their tokens do not have the exact same utility, even if your project has been certified unique by God Almighty, you should do your R&D and locate a competitor. Your self-assigned competitor will serve as a barometer by which you will measure your progress: your successes or setbacks.
In the onboarding questionnaire, we always ask clients to list their competitors, and never have we experienced a single case in which a project owner honestly named any competing companies! Most clients feel that their projects are one of a kind, but the truth is, a project is rarely ever unique. We do what we can to break this news to our clients in a way that takes their feelings into consideration. We get it! But even if you launch tokens that will unlock access to Wi-Fi on Mars, you will still have competitors. Not having a competitor will greatly decrease your chances for a successful run.
So how can you use this information for your benefit?
- Expand your marketing reach to include your competitor’s audience. It makes targeting so much less expensive – you just need to craft your message appropriately.
- You can plan your NFT drop launch date accordingly. It does not necessarily mean you need to move your launch date further away from your competitor’s date to space it out – there are many ways to look at it. If a competitor clearly outplays you in terms of reach for their marketing campaign, you may want to jump into the NFT announcement threads a couple of days before their planned launch. In this way, you may receive some of your competitor’s traffic, and supporters who will see your announcement while searching for your competitor’s timeline.
Numbers and data: planning your launch date before reaching certain marketing milestones.
Your decision to launch should be based on the numbers you have achieved in the course of your marketing campaign, not on anything else.
We look forward to helping you choose the right date for your launch!