DPL 89: Identifying the buying habits of NFTs collectors/investors
A proof of explanation that NFTs are not just a rich men's game?
Finding what makes you happy and doing it is one of the best things you can do for yourself.
When you're happy, you're more relaxed and positive, leading to tremendous success in all areas of your life.
So, find out what makes you happy and go for it! You won't regret it.
Starting this letter with a positive note this Tuesday morning :)
This article is about the most common question people had in Web 2.0.
Which is 'What is your/my brand's target audience, 'How to find the target audience.'
Many people used to use different strategies and ways to find and then trigger those target audiences.
But I never focused on a particular type of audience as I always believed 'Life = Macro Niche.'
There is still much to learn about how people buy non-fungible t \okens (NFTs) and what factors influence their decision-making process.
However, there are some things we do know.
For example, before launching JorrPairvar, I conducted a zoom session with my community members; it was a 30-day QnA session.
How to think you are in the session too...
There are chances you might not have 30 questions, i.e. 1 for each day.
So similarly, there was a point, especially after day 20, where not many had questions.
So that's where I started talking about Web 3.0 and NFTs.
The participants who had joined the 30-day session had never invested in NFTs.
Some of them had just heard about Gary Vaynerchuk's project VeeFriends which would launch in the month of May.
So, I started sharing what I had learned in the Web 3.0 space.
Heard their thoughts about NFTs. And we all together gained a lot of knowledge in those 10-15 days!
In those 10-15days with these QnA sessions, I also worked on JorrParivar.
Creating the tokens, registering the IPs, etc... I used to share these things as updates with them, too..as they were now like the core community who already knew about the basics of Web 3 space.
Here’s a video made by the participants of those 30 days QnA session :)
Now let's analyze, were they the targeted audience?
I don't think so...because not all of them might have been interested in NFTs or knew about them.
They became the targeted audience after learning from the zoom session and doing some research by themselves.
Web 3.0 is a new space, and there are chances that not many people know about it.
So, the targeted audience would be people interested in NFTs and who have some knowledge about them.
If you are an NFT creator, you could also target people who have already invested in NFTs and understand them well.
This will help you create a product that is more suited to their needs.
Additionally, it is crucial to keep in mind the buying behaviour of your target audience.
For example, if you are selling NFTs that represent digital collectibles, you will need to make sure that your product appeals to collectors.
On the other hand, if you are selling NFTs that represent real-world assets, you will need to make sure that your product appeals to investors.
For starters, it appears that people are more likely to buy NFTs if they already have a vested interest in the game or product that the NFTs are associated with.
In other words, they are more likely to buy NFTs if they believe that doing so will give them an advantage or improve their experience within the game or product.
Another thing that seems to influence people's decision to buy NFTs is the perceived value of the token.
People are more likely to buy a token if they believe it is worth more than the alternative.
This could be because the token has unique features or is associated with a popular game or product.
Finally, people are more likely to buy NFTs if they know that the tokens will hold their value over time.
This means that they are more likely to buy NFTs if they believe that the tokens will be worth more in the future than they are currently.
This could be because the token is rare or associated with a popular game or product.
All of these factors play a role in people's decision-making process when buying NFTs.
Understanding these factors can create a better experience for buyers and help them make informed decisions about which tokens to purchase.
It's not a cup of tea to understand your audience and build community. It's all about the PROCESS!
Since it's a new space, you can't decide fine the TARGET AUDIENCE yet.
But you can decide or target the audience as per the ART or the UTILITIES you provide to them. If you are someone who loves painting art-based, NFTs might attract you more. If you are someone who is looking for consultation JorrParivar might be an excellent project to invest in ;)
Let me show you how:
The screenshot above shows the value-packed QnA sessions and other workshops conducted for respective token holders, i.e. monthly QnA sessions for Bronze token holders and Weekly QnA sessions for Silver token holders. (both 1 hour each).
These sessions are like the proper consultation or advisory sessions where holders ask me any questions, whether related to NFTs or business or marketing or branding or anything!!!
And in return, they get value-packed replies + many Aplha's ;)
So now you might have got an idea of who is the target audience of NFT or Web 3.0. I hope this article was helpful :)
See you in the following letter!! Till then, stay awesome, stay mojma!
OTHER NFT GUIDES:
My Web3 projects:
My NFT project:
https://jorrparivar.inBuy on OpenSea:
https://opensea.io/collection/jorrparivarJorrParivar RAP Anthem: #JorrAnthem
https://digitalpratik.com/jorranthem
My other Web2 accounts:
Apple Podcasts:
Follow & listen to daily audio documentation »