While crypto natives know the difference between Ethereum and Ether and Satoshi Nakamoto and satoshis, it doesn’t mean this information is any less valuable when it comes to building your brand. In fact, using what we all learned during our first days in the industry will be more important than you think.
What makes your brand stick out from the rest? While products can be similar, the way you market your image can be a way to show that, in reality, the basics are all you need.
Crypto ethos
In 2009, the creator of Bitcoin laid out a very important ethos that developed the groundwork for the entire crypto industry. It started with, “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” And that was it. Since then, Bitcoin has expanded into the Lightning Network and various other solutions that allow it to function as more people use it. However, the network has not steered too far away from the original purpose. It has stayed a peer-to-peer network.
When creating the product and brand, keep in mind that original ethos. Straying too far from that would keep repeat customers from leaving, and new customers will see retention and promised longevity from the beginning.
The five W’s and one
Everything was created with a purpose; even things you deem as useless exist for their own sake. In the plainest sense, everything you make will serve its goal until the end. This thought process can be used to your advantage when trying to build a brand. It is true that two products can exist in the same life while serving the same purpose, but that makes it better for your brand development. Your product does its job in this way and with these additions to fulfill its purpose. Another product does its job in its own way.
The secret to start improving branding is simple: Ask yourself who, what, when, where, why and how so that its purpose and target can be better pinpointed. Understanding what makes your brand its own entity will help target that ideal for further brand development.
No overcomplications
A complicated product is necessary as consumer and industry needs increase. There is no doubt about that. The problem will arise when looking to onboard new customers. A complicated branding and marketing strategy could ward off potential customers that may need your product or service without knowing the technology surrounding it. Looking at the question, “what is your problem and how can my product solve it” can reduce technical jargon and put yourself in the perspective of those looking for a solution.
When developing your image, keeping it simple and making the technology more digestible will help potential customers see the benefits. Targeting only a specific niche can limit new customers those who look to enter the market, regardless of how good your product actually is.
While the world seems to be more and more complicated and over saturated with new technologies, reverting back to the philosophy and reasons why your brand exists will help your product push to customers. Branding requires a certain level of simplicity paired with a healthy understanding of your brand’s ethos and target will be key in creating a confident and trustworthy customer experience.
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