Crypto companies with a plan to make an indelible impression and carve a niche in the expanding market should adopt an “out-of-the-box” crypto branding exercise to set clear client and customer expectations from it.
With Crypto becoming a hot trend, more and more businesses are jumping on the bandwagon and thus it has become important to pay more attention to crypto branding to cut the noise and stand above the rest. Crypto companies are creating disruptive solutions thanks to the underlying technology – blockchain on which the crypto is based. What started on the peripherals is gradually finding itself steadfastly making its way in the mainstream – living up to its promise of revolutionizing business models, upending all major industries, and also transforming the world as we know it.
The growing numbers of crypto start-ups have made it imperative for an enterprise in this space to take up smart and innovative marketing strategies that would set them apart from others in the competitive market. Keeping in mind how important it is for start-ups in the ever-expanding crypto space to come up with a distinct business name and carve a niche for them that could help in creating a unique identity, it is crucial that they start directing their marketing effort on crypto branding.
Crypto Branding and its importance
If you feel that spending on drawing up a defined, compact and clear “brand strategy” is something you could do easily without then you are in for some real bumps along your journey of creating a name in the next big blockchain market. Ignoring the importance of crafting the right crypto brand value can prove to be quite a costly mistake for your company. You might end up as being blockchain’s next flash in the pan if you are not focussed enough to factor in the significant role of crypto branding in driving the visions of your crypto-fuelled company’s future.
Crypto branding is one of the most significant components of any marketing strategy for a company and more so for a blockchain and crypto company since the industry is still in its development phase. It is not just the products and services that alone can define a company but the kind of brand experience that one has to offer that can determine the success of any organization.
Effectiveness of smart Crypto branding on your crypto business
A crypto start-up with a desire to make an indelible impression on its customers’ should adopt an “out-of-the-box” crypto branding exercise to set clear client and customer expectations from it. A brand serves as the representation of what the business stands for and also how a blockchain and crypto enterprise aims at achieving its vision and mission. Hence, crypto branding is truly a critical aspect of a blockchain business as it has a substantial effect on the business image. The way one conducts a crypto branding of a company determines how customers would perceive the brand. Crypto branding also helps in defining company goals, driving business, and boosting visibility about its product and service offerings. The right crypto branding strategy can get a company the right acknowledgment in the competitive market and create the buzz around it. Cut the noise and define your company goals with a clear brand strategy!
Best practices for building a crypto brand
Acknowledging the significance of implementing a crypto branding strategy and following the best tried and tested crypto branding practices are among the most crucial steps for all those involved in the marketing process of a crypto firm – be it entrepreneurs, developers, content marketing team, investors, and others. One needs to be prepared to give crypto branding strategies a lot of time to yield results. With time and spending increased effort towards practicing some of the best strategies can help achieve the desired credibility and reputation of your brand while also building trust. Adopt the below-mentioned best practices to speed up the brand-building process and foster confidence in your crypto company among your audience.
Create a thoughtfully designed visual system
Undoubtedly, blockchain is a technologically complex territory capturing the interests of the brightest of minds in business, cryptography, technology, finance, marketing investments, and so on. With a technological innovation of such a magnitude, complexity engulfing the solutions and applications developed in the space is also quite an obvious factor for which crypto branding companies in the industry can turn out to be a challenging task. That is why having a thoughtfully crafted visual design to convey your company’s USP becomes important. Your crypto brand does not need to be as complex as the technology itself and developing a simple but cohesive and well-defined visual system is imperative to drive across the company’s message easily with the support rendered by the visuals. Focused and well-planned visuals can have a significant impact on building the crypto brand identity of your blockchain business.
Determining brand objectives
Creating a brand goes much beyond the point of deciding the design, business name, and the niche market that its leaders should focus on. Crypto Branding is not limited to simply designing templates or fonts and colors. Although creating the right visual representation of the company’s vision is important, it is not the sole element of branding. Defining your crypto brand identity requires you to introspect on certain important parameters such as: what applications and offerings can help you set apart from others in the marketplace, what you would be most likely to be known for and what are your brand objectives? Identify your objectives to create the right strategy that can help you position your company in the market. Choosing the right crypto brand strategy will become easier with understanding your business goals and estimating the time you require to reach those goals!
Assess your audience
The driving force behind any business is the audience. To attain great heights of success and establish a brand you would have to determine the target customers and also find solutions and applications that your target audience values the most. In doing so, you would have to review the viability of your target market in a judicious and objective manner. Customers are an integral part of your brand’s journey, and it is vital that they have confidence in your vision and mission. They should understand how technology can help them achieve their goals. In assessing the target customer market, take into account the ideal customer demographics; assess the probabilities of creating a high demand for your product offerings, the price range that customers would be willing to pay for it and also the value that customers seek from your company. Knowing your customer will help you understand things that inspire them and also the latent value they put to your product offerings.
Weave a reverberating crypto brand story
The best way to bring your blockchain business to life and to remove doubts from the mind of skeptical investors is to build a resonating brand story. Investors and customers in the blockchain and crypto world are looking beyond the promises that the technology aims to deliver and are focussing on companies that can benefit not just those invested in the space but also the general public from its crypto branding success.
A company will be light years ahead of the typical chain washing enterprises inundating the blockchain space if it invests time, effort, and money to narrate a persuasive brand story. Communication is the key in establishing the enterprise’s mission, vision, and values driving it. Laying down these points in your brand story lucidly will help potential customers to be aware of what they might benefit from working with!
Keep the Conversation Going.
The best way to position yourself as a strong crypto brand is to get people to spread the word about you and contribute to your brand’s success! Keep the communication lines open with your customer and ensure that you have a solid online presence to help you post about events and trends. You can also provide regular updates about your service and product offerings as well as post comments on all issues that can bring your brand to the limelight!
Give your valued and loyal customers a gift token or some interesting product discount that will make them stick to your brand for longer. Engaging in direct interaction with your prospective clients through social media platforms such as Twitter and Instagram can also help in building a strong crypto brand. Also, address customer complaints and vital concerns in an effective and timely manner to keep people engaged and talking.
Hiring the right marketing partner
Choose brand managers with not just experience but also rich expertise in key areas of blockchain marketing and in strategic crypto branding required in creating a unique and impactful profile. Starting from influencing and shaping up smart PR crypto strategies to deciding upon a competitive pricing range for the applications, to keeping regular tabs on the chalked out budgets v/s the sales targets met, a crypto brand manager is involved with varied aspects of the company operations. A professional crypto brand consultant would also provide their opinion on setting the right tone for packaging, distribution, offering creative touch, and other related crypto branding and marketing strategies.
Evomantra as a brand consultant
Given the huge importance of crypto branding for a crypto startup or a company, it is essential that a business hire an expert brand companion like EvoMantra that understands blockchain technology and also can combine various elements of crypto branding while chalking out the perfect strategy to create a distinct and attractive professional profile. We have experienced and expert brand consultants that can deliver bespoke analytical solutions to crypto companies to lead them successfully in the competitive world and help them attain business goals and objectives in an optimal manner.
With strong business acumen and crypto branding expertise on his side, our reliable brand manager would help the company’s core strategic leaders in planning and implementing strategies that would have an overall impact on the business. Our brand consultants are sure to provide out-of-the-box ideas that can have a far-reaching positive impact on how your business is perceived in the market. It would also ensure that the strategies and plans are in perfect alignment with the business goals as well as the changing customer preferences, and the business dynamics.
Developing your crypto brand from scratch can be a challenging task but combining strategic elements developed and executed in alignment with the company’s vision and mission can help in building a strong brand. Identify your audience to design the right brand strategy. After defining your customer and understanding their expectations and problems, chart a strategy to communicate the technology in ways that are easy to understand for your audience.
The best way to decide on the promotional channels for setting up your crypto brand today depends largely upon the target customer market, company objectives, stage of development, and the market position that you wish to achieve with your crypto branding exercise. When crypto branding a product, it is important to utilize the right channels in order to reach your customers. A campaign integrating multiple media avenues will ensure that crypto marketing messages are reinforced and delivered effectively across all platforms on which they might be viewed or heard by potential buyers – whether online via social networks like Facebook & Twitter; print ads found inside magazines/newspapers whose readership target audience may not yet know about your products.
The ability to be flexible is an important trait for brands in today’s competitive market. By remaining contemporary and relevant, you’ll distinguish yourself from competitors as well adjust you’re messaging depending on who they are trying to reach out to-all while maintaining strong customer relationships that foster loyalty. You can also try to get customers hooked on your brand by using advertising triggers that are lesser-known but can be experimented with to get some traction in the expanding space.
It takes a whole lot of patience to see results coming from a strategic crypto branding effort. A big crypto brand with unique offerings can build a recognizable brand in just a matter of a few months with some great brand building and marketing gimmicks. However, for some, it can take years to develop a name in the crypto space. Consistent effort, perseverance to explore the different crypto branding options can help start-ups experiment with new blockchain solutions and evolve in a structured way.
There is little doubt that cryptos and blockchain are becoming a serious disruptor- revolutionizing our world beyond our beliefs. The transformation is for real and here to inspire millions of entrepreneurs and investors in the years ahead! The roadmap to success in crypto lies not alone in building innovative and powerful technological solutions but also in building the crypto brand with the same degree of expertise, determination, passion, interest, and focus as invested in developing blockchain-enabled tools.