Space Summary
The Twitter Space Cryptic Talks #15 | Building a brand identity that resonates. hosted by Cryptic_Web3. Cryptic Talks #15 delved into the essentials of building a brand identity within the blockchain and crypto sphere, emphasizing the significance of authenticity, community engagement, and innovative Web3 technologies. The discussion highlighted the crucial role of consistent messaging, strategic partnerships, and data-driven approaches in shaping successful marketing solutions for blockchain companies. By focusing on customer-centric experiences, personalized interactions, and educational initiatives, brands can establish a strong presence in the competitive crypto market. Embracing digital channels, promoting brand evolution, and fostering brand loyalty through community-centric strategies are key takeaways for marketing agencies operating in the blockchain space.
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Questions
Q: How does authenticity contribute to building a brand identity within blockchain marketing?
A: Authenticity fosters trust and credibility, essential for attracting and retaining customers in the blockchain space.
Q: Why is community engagement significant for blockchain brands?
A: Engaging the community creates a sense of belonging, loyalty, and fosters word-of-mouth promotion for blockchain companies.
Q: What role does Web3 technology play in developing a unique brand identity?
A: Web3 technology offers decentralized and interactive experiences that can differentiate a brand and attract tech-savvy audiences.
Q: How can blockchain companies ensure consistency in brand messaging?
A: By aligning values across all communication channels and touchpoints, brands can maintain a coherent and recognizable identity.
Q: Why is educating the audience about blockchain crucial for brand success?
A: Educated customers are more likely to trust the brand, understand its offerings, and become advocates within the blockchain community.
Q: What benefits can personalized experiences bring to blockchain brands?
A: Personalization enhances customer engagement, satisfaction, and loyalty, creating memorable interactions and strengthening brand affinity.
Q: How can partnerships and collaborations amplify brand visibility for blockchain companies?
A: Strategic alliances with influencers and industry leaders can expand reach, build credibility, and introduce the brand to new audiences.
Q: Why is data analytics essential for monitoring brand performance in blockchain marketing?
A: Data-driven insights provide valuable feedback on brand strategies, customer preferences, and market trends, enabling brands to optimize their marketing efforts effectively.
Q: Which digital marketing channels are effective for promoting blockchain brands?
A: Utilizing social media platforms, email marketing, search engine optimization, and content marketing can help blockchain brands reach a wider audience and increase brand awareness.
Q: How can brand identity reflect the mission and values of a blockchain company?
A: By embodying core principles and beliefs in branding elements, companies can attract a loyal customer base that aligns with their ethos and goals.
Highlights
Time: 00:15:42
The Power of Authenticity in Branding Exploring how genuine brand identity builds trust and connection with blockchain audiences.
Time: 00:25:18
Web3 Innovations for Brand Building Understanding how Web3 technology transforms brand experiences and engagement in the crypto landscape.
Time: 00:35:59
Community-Centric Marketing Strategies Discussing the impact of community involvement on brand loyalty and advocacy in blockchain marketing.
Time: 00:45:27
Data-Driven Brand Optimization Analyzing the role of data analytics in refining brand strategies and improving performance metrics.
Time: 00:55:14
Partnerships and Influencer Collaborations Exploring how partnerships with key figures amplify brand reach and credibility within the blockchain industry.
Time: 01:05:38
Personalization for Enhanced Customer Connections Examining the benefits of personalized experiences in strengthening customer relationships and brand loyalty.
Time: 01:15:20
Promoting Brands through Digital Channels Highlighting the significance of digital marketing tactics for blockchain companies to increase brand visibility.
Time: 01:25:11
Consistency in Brand Messaging Emphasizing the importance of unified brand communication to establish a distinct and recognizable identity.
Time: 01:35:49
Educational Initiatives for Brand Credibility Exploring how educating the audience about blockchain technology enhances brand credibility and industry knowledge.
Time: 01:45:03
Brand Evolution in the Crypto Market Tracking the evolution of blockchain brands and strategies in response to market trends and consumer preferences.
Key Takeaways
- Authenticity and transparency are crucial for establishing a compelling brand identity in the blockchain industry.
- Consistent messaging and values alignment help in creating a brand that resonates with the target audience.
- Community engagement plays a vital role in building trust and loyalty for blockchain-related brands.
- Utilizing Web3 technology and innovative approaches can differentiate a brand in the competitive crypto market.
- Educating the audience about blockchain technology is essential for brand credibility and long-term success.
- Brand identity should reflect the core values and mission of the blockchain company to attract like-minded customers.
- Adopting a customer-centric approach and personalized experiences can strengthen brand-customer relationships.
- Collaborations with influencers and strategic partnerships can enhance brand visibility and credibility.
- Monitoring brand performance metrics and adapting strategies based on data insights are key for brand growth.
- Leveraging social media platforms and digital marketing tools is essential for brand promotion and recognition.
Behind the Mic
Introduction to Brand Identity
Welcome everyone to our deep dive into the art of science, of building a strong and impactful brand identity. Here with cryptic, I'm Pauli, your host for today PR Elite at cryptic, our full marketing agency. And here with me today, Thomas from Natma. And I hope that everything is clear and I want to do the mic check. Hello? Hello everyone. Yes, I can hear you loud and clear. Can you guys hear me? Yeah, yeah. Awesome. Thanks. How are you doing? I'm doing fantastic. How are you, polly? I'm not really fantastic, but great. I think everything is normal, so cannot complain. And where are you based, by the way? I'm full time in Dubai, but I spend most of my time between Dubai and Turkey at the moment. And are you going to participate in token 2049 in Singapore? Likely yes. We have a lot of our investors over there, so if we're not there, we will be there in spirit, that's for sure. Awesome, awesome. Get you there.
The Importance of Branding
And listeners, if you will, like today's episode, don't forget to drop a follow to our official accounts, cryptic and nutbach, and you can drop a follow to my account as well if you wish. So, whether you are a seasoned marketer or startup founder, or simply curious about how some of the world's most recognizable brands become household names, this conversation is designed to equip you with the knowledge and strategies needed to carve out your own brand's place in a crowded market. And I think that in today's digital age, where consumers are bombarded with endless choices, standing out is no longer option. It's a necessity. And how do you create a brand that not only captures attention, but also resonates deeply with your audience, building trust and reality over time? It all starts with understanding the foundational elements of brand identity, those core components that form bedrock of how your brand is perceived.
Building a Brand Identity
And throughout this discussion, we'll explore the critical steps involved in defining and articulating your brand personality. And we will uncover the pivotal role storytelling plays in shaping a brand's voice. We'll also delve into the practical stages for maintaining consistency across various channels and explore the creative tactics brand can use to differentiate themselves in even the most saturated markets. So yeah, whether you are in the process of building a brand from the ground or looking to refine and evolve an existing one, this conversation promises to provide you with valuable insights and actionable strategies. Let's dive in. But before I will ask a first question, Thomas, maybe you can give us a brief intro about yourself, your background at Natma as well. It would be my pleasure. So my name is Thomas, I'm one of the co founders of Nadma.
Thomas's Background and Nadma
Nadma has been established now for just over 16 months. Very simply myself. I got into crypto just over two and a half years ago. I was very focused on networking and also getting into the space through some small investments that I was doing with my other co host, Emre. And yeah, we moved on to create Nadma. Nadma, very simply is a very niche focused incubator and consultancy firm. We focus on really the core pillars of companies in the web two and web three space. Things like tokenomics and token economy. Modeling financial models go to market strategies as well as helping to execute marketing strategies with our partners at cryptic as well. And also we focus a lot on building out very strong ecosystems and network connections. So this obviously includes people doing marketing, people that need investments, helping to launch tokens along with our tokenomics and of course generally just to help build out partnerships.
Nadma's Focus and Aspirations
And per the topic of the discussion, to help build proper brands in the web three space. So this is something we're very interested in. Nadma also within the next six months will be opening a small marketing arm. And so this is a topic that I'm very passionate about myself and really looking forward to the discussion today. Awesome. Thank you for beautiful intro, guys. And don't forget listeners to share your questions because well, we appreciate your engagement and we will be happy to answer your personal ones and general ones as well. And I think we can start with some foundational elements of a strong brand identity. Jesus Christ. Sorry, too much coffee I guess, for my tongue. And actually I think that a strong brand identity is built on several foundational elements that work together to create a cohesive and memorable image in the minds of consumers.
Foundational Elements of Brand Identity
But I will ask you first, Thomas, what do you think? What are the foundational elements of a strong brand identity? Identity? Yeah, I think when we talk about brand identity, it's very important to always think about the narrative and the USB's of a company, especially in a place like crypto, web three, however you like to call it, where a lot of these companies are very similar. You know, we have all of these gaming companies, all of these deep in companies. We saw it the most, of course, when AI came out. And these companies are trying to emerge as a leading company amongst a sea of companies that are using the same keywords, using the same branding. They all really look the same to us and to their investors as well. So I think in especially the web three space, building a brand is something that is very key, not only to establish a user base, but also to establish your reputation.
Establishing Trust and Reputation
Because if you ruin your reputation with one small thing in crypto, then it is very hard as a founder and very hard as a company to get that back and to get your user base back, because trust is not a thing that is shared around very often in crypto, unfortunately. But building a strong brand like we've seen with many of the big companies in crypto, you take examples like Sui, like Animoca, like Binance Labs. We've been working with these guys very closely in Dubai, in the UAE as they've begun to establish a presence here. And it's interesting to see that, you know, the way that they build their brand identity is to establish trust with local firms, to build a user base there, but also to provide content and provide content strategies, you know, whether it's on their socials or pr or whatever methods they're using, so they can resonate with their audience and build trust that way.
Building Brand Identity in Web3
So I think in contrast to web two, it is a very different way that people build brand identity in Web three, and I think it's still evolving. But I do find it very interesting, the ties between brands, reputation and also community that we've seen evolving over the past year, you know, 1224 months. Great, great. I agree with you on some points as well, and networking is of course one of the main here. But. Well, I think that the first element in the brand's core values, which define what the brand stands for and what it believes in, like this value should resonate with the target audience and reflect the company's mission and vision.
Core Values and Visual Identity
And the visual identity is another crucial element, including the logo, color scheme, typography and overall design aesthetic. And this visual aspect is what consumers often recognize first, and it should be consistent across all platforms and materials. So the brand's voice and tone are also essential components as I think these define how to brand communicates with its audience where it's formal, friendly, playful or authoritative. And this voice should be consistent and align with the brand's values and the expertise expectations of its audience. So the brand's unique selling proposition us P is another key element.
Narrative and Customer Experience
I think everyone being taught in universities about this unique selling proposition, the expectation of its audience. So this could be unique product feature, exceptional customer service or a particular brand philosophy. And additionally, the brand story plays a, a vital role in shaping its identity. Everyone want to see a story, how one person can become a millionaire, for example, from nowhere or other narrative, as you wish, choose yours. And this is a narrative that explains the brand origins, purpose, journey, making it relatable and engaging for consumers. And a well crafted brand story can foster a strong emotional connection with the audience.
The Role of Customer Experience
Just don't forget about that. And of course, lastly, customer experience is a critical element, but it's kind of a basic thing. You need to understand it while doing any kind of a business. Every interaction a customer has with a brand, from purchasing a product to customer service, should be reinforce the brand's identity and values. Of course, how can a company effectively define and articulate its brand personality? What do you think? Thomas? Yeah, I really like this question because actually before I was in crypto, I was in product design, product and graphic design.
Visual Elements and User Experience
So it's always something that is mentioned a lot in design is like, you know, what do these colors purvey? What does this brand convey? What does this logo convey? I think less people care about it in crypto, which is a little bit sad, but it is a very important thing because when someone logs on, like, we're all virtual people, so everyone logs onto your website and all the platforms are there, your dapps, your wallets, et cetera, your games. So every experience that you have that way is going to affect what people think about your brand identity.
Crafting the User Experience
So I think really it's so important, especially like, even from a user experience, that the UI is catered towards, you know, what people are thinking of you, right? If you have like light colors, you know, pink and blue in your logos, it should convey a sense of, you know, comfortability, not being hostile. So when you go through the process of signing up, it should be easy, it should be smooth, it should be like very self explanatory, which is something I think that quite a lot of websites have. There's some really good ones that we've seen that are able to convey their brand identity across that.
Establishing a Brand Foundation
Obviously, when you're starting off a company, the best thing to kind of do is you set up a mind map. You look at what are we actually doing with this company? What are our values? What do we want people to think of us? What are going to be our keywords for that brand identity? And then once you get that, obviously you can work with someone who's experienced in that design and emotional design or you can just do it yourself. I find if you do it yourself, it has a bit more personality. Even like with Nadma's design and everything.
The Importance of Brand Evolution
Originally we pulled that all just from the words that we wanted to convey and we're very happy with it and we try to do the same for our portfolio companies as well. But yeah, I think just, you know, it's a slow process and it's got to be taken very well. And you see that quite a few companies change their brands multiple times. That can be a good or bad thing. But always if you're able to pin down your brand identity on the first try, then it will enable you to, as Paulie said, also it's kind of build that story, to build that narrative, because that's something that's not only important for your users or your partners as well, but also for people like your investors, people that are looking at your company from the outside and they can kind of see, you know, the start point and the end point and what you've achieved throughout that, just from something as simple as like your pitch deck or your logo or your website.
Conclusion on Brand Storytelling
So yeah, it's always got to tell a story, but it's just kind of about how you get to that story as well. Yeah, agree. And, well, I think that defining and articulating a brand's personality, of course, requires a deep understanding of brand's core values, mission and target audience. And the process, from my point of view, begins with just identifying the brand score values as well, of course, as I said before, and understanding the target audience is also value vital. So the brand personality should resonate with audience preferences, values and lifestyle. Conducting market research and creating detailed customer Personas can help in this regard.
Understanding the Audience
Of course, while we have those AI's and easier, so much easier for now for marketers to analyze all this data about the customer Personas, their psychologist, their other specific criteria. And the company should also ensure that the brand personality experience, from the website design to customer service interactions and every aspect should reinforce the brand personality. By sharing stories that align with the brand's values and resonate with the audience, the company can create a strong emotional connection and clearly convey its personality. Yeah, just whether it's formal or casual or humorous or serious, it just should be genuine how it is to attract real guys with whom you're gonna work in the long term.
The Role of Storytelling in Branding
But what role does the storytelling play in shaping in brain toys? Let's stop because I think it's very valuable and understands how it is important. Yeah, sorry, could you just ask the question again? My wi fi cut in the very last second. Yeah, yeah. I was asking what role does storytelling play in shaping a brand's voice? Yeah, I think it's, I think it kind of goes hand in hand, to be honest. Obviously, that it kind of plays the point of the narrative, right? You can take it from this perspective. So we had two companies, two AI based companies in trading that were pushing for investments, right? Both raising about 3 million. They pushed to investors. They both had a blurb, both had Dex, both had equally nice branding. And the one that got the most investments, like we're talking the difference between one hundred k and two point five million.
Importance of Narrative in Investment
The one that got the most attention from investors was the one that had a narrative. So they not only knew how to pitch their project, but they knew the story of the project. So they basically identified as every good product should. They identified a niche in their market, they identified the problems within that niche. They picked their users from that problem within that niche, of course. And then they moved on to create a product that would not only solve that solution, but also cater towards that niche. So at the end of that process, they came out with a product that was not only serving their customers, but also serving the community. So that's something that, you know, we also see a lot in design is you have to create your product from a problem, especially in product design, because you're designing for people.
Engaging with Users
So if you do what a lot of crypto companies do and you create a product because you think people need it, then I highly doubt that you're going to get a good user base because if you're not like constantly engaging with your users, you're like, oh, guys, do you like this? Like, is this actually what you're looking for? Is this helping you? Is this, you know, actually solving the problem that we think it is? Then it's good, right? But most of the projects these days, they, you know, you see the pitch deck, they have like a problem market overview solution and most of it is just, you know, part of my language about bullshit. So that's something that we try to fix as well, is like, you know, when you start a product from scratch, you should be able to instantly see what your user base is like.
Understanding User Needs
You know, when you get to making your go to market strategy, you shouldn't be looking at things like, who are my users? What are their problems? You know, that's stuff that should be identified at the very start of the storyline and then your narrative, your story, and of course everything else along with that can be built up from that point. So it's always got to be like writing a book. You know, you can't start at the end and work your way back because all that's going to mean is that everything that came before doesn't make any sense. So it's. Yeah, I think that's kind of how I would explain it.
Impact of Storytelling on Brand Values
So still, storytelling is a powerful tool in shaping a brand's voice because it allows the brand to communicate its values, mission, personality, in a way that is engaging and relatable. And through storytelling, a brand can create a narrative that resonates with this, its audience, like making the brand more memorable and meaningful. A well crafted story can highlight the brand's origins, challenges, successes and even the helps to humanize the brand and build emotional connection with the audience. And I think that storytelling also helps in differentiating the brand from its competitors.
Creating a Unique Brand Identity
By telling a unique story that reflects the brand's mission, the brand can stand out in the crowd market, which is hard right now. The story should be consistent with the brand's voice tone. Whether it's serious, humorous or inspirational, you choose it. This consistency helps in reinforcing the brand's identity and making it easily recognizable. So moreover, storytelling allows the brand to communicate its USP, of course, in a way that is compelling and engaging.
Marketing Strategies through Storytelling
Instead of simply stating the features and benefits of product or service, the brand can weave these elements into a story that captures the audience's attention and imagination, which is very vital. This makes the message more impactful and memorable. Storytelling is an effective way to build by sharing authentic stories that reflect the brand's values, the brand can demonstrate its commitment to its customers or build a loyal following. And this is particularly important in today's market, where consumers are increasingly looking for brands that are authentic and transparent.
Inspiring Action through Brand Storytelling
And finally, storytelling can be used to inspire action. Whether the goal is to encourage customers to make a purchase, support a cause, or share the brand smile, a well told story can motivate the audience to take action, nothing else really well told story. And by shaping the brand's voice through storytelling, the brand can create a strong, consistent, impactful identity. And maybe we can talk more about how can businesses ensure their brand identity remains consistent across various channels.
Maintaining Consistency Across Channels
Because sometimes I can see that brands like don't give a, they forget about it, forget about this rule. And how do you think, is it important to stay consistent across all channels with your brand identity? Yeah, I think it's very important, especially if you're following, you know, like the recent trends with companies where they've been focusing, maybe not as much recently, but over the past, like few years, maybe three years, a lot of companies, even in web three, were focusing on sustainability. You know, trying to be more eco friendly, trying to be more diverse, being accepted of different cultures, different races, you know, all these things we've had throughout, like the past three years, which I think are fantastic for brands.
Challenges of Brand Consistency
They helped a lot with adoption of new user bases and also new geographical spaces as well. And I think with that we can kind of have a look at some of the companies in crypto that have tried to do this and maybe have not been as consistent with their brand as they should be. We've seen a lot of the blockchains like Algorand and Hedera have also worked a lot on bringing sustainability. Algorand was doing fantastic with this up until about 2021, end of that year, when they did decipher in Dubai.
Brand Identity Challenges Post-2021
And then after that, you would start to notice that their brand became a bit weaker. Not only them, though, a lot of other companies they were also working with, and some outside of that sphere were having the same issue where they were trying to change a bit of their identity, I'd say. And in that fact, they kind of lost what made them unique. And now, if you look at the projects or what our grand is doing, you can't really see that same thing. And I think that happened with a lot of companies.
Impact of COVID-19 on Brand Identity
It happens a little bit also during COVID when some companies didn't have the budget or the means to extend their brand identity past what they thought it could be. But yeah, I think especially in web three, where there's a lot of fake marketing talking around the Kols that some companies work with that aren't very consistent in terms of messaging or sometimes twist the narrative a little bit. It can be difficult to maintain a brand identity, especially, you know, once your company becomes bigger and bigger, you have more channels, you have more users, more eyes on you, which makes it much easier for people to poke holes through your brand.
The Fragility of Brand Identity
And what I mean by that is, you know, you have this kind of facade always when you're building a brand. And if people crack that or if people, you know, make mean comments about your brand and stuff, it can usually tear down brands. But a strong brand identity, you know, it's always consistent across multiple platforms. You know, you have to be able to be in touch with your users, moderate it from the inside, and obviously assure that anything that goes out about your brand is keeping in line with everything that you're doing.
Internal Management for Brand Consistency
So I think, like, you know, internal management is one of the bigger things. Managing the people that you're working with for marketing, especially whether, you know, companies, whether it's Kols, whether it's your social media managers, these things are also really important. But yeah, it's at the, at the core of it, if you build your brand identity from the true values of your company, then you shouldn't have too much of a problem to continue building that over time.
The Challenges of Hype-driven Branding
But yeah, a lot of companies in crypto usually just have this issue because they don't build their companies off like true values. It's usually just off hype. For example, like the entire meme coin craze that went down, which as we can see now has just kind of disappeared from the markets. Yeah, yeah, I saw that too. And still ensuring consistency and brand identity across various channels.
Strategies for Brand Consistency
Of course, it requires, first of all, a strategic approach and a clear understanding of the brand's core elements. And the first step is to develop a comprehensive brand style guide. And this guide should include detailed guidelines on the brand's visual identity, including the logo, color palette, typography, imaginary so it should also cover the brand's voice and tone, outlining how the brand should communicate across different platforms and scenarios.
Comprehensive Brand Style Guide
This guide serves as a reference for everyone involved in creating content or representing the brand, ensuring consistency across all touch points. And another key aspect is training and educating employees. Everyone involved in marketing, customer service and any role that interacts with the public should be familiar with the brand's identity and how to represent it consistently.
Team Alignment with Brand Identity
This includes understanding the brand's values and other core elements, which we point out several times already. And regular training sessions and updates can help keep the team aligned and aware of any changes or updates to the brand identity. Just a very vital point. Founders don't forget about that.
Centralizing Content Creation
And I think that centralizing content creation can also help in maintaining consistency, like by having a dedicated team or individual responsible for creating and approving content. Businesses can ensure that all materials adhere to the brand guides, and this centralization can also help in maintaining a consistent tone and message across different channels, from social media to email marketing and advertising.
The Importance of Feedback Loops
I think that feedback loops are also crucial, like encourage customers and employees to provide feedback on how the brand is being represented. And this feedback can be invaluable in identifying inconsistencies and areas for improvement. Maybe the last thing I'm gonna mention is adoption and flexibility are key, but it's kind of in any kind of a process.
Flexibility in Brand Identity
While consistency is important, it's also crucial to adapt the brand identity to fit the context of different channels without losing the core elements. And this might involve slight modifications, just slight modifications in tone or visuals to better suit the platform while maintaining the overall brand identities. Maybe we can discuss what kind of strategies founders use to differentiate a brand in a crowded market because it's hard.
The Difficulty of Differentiation
It's hard when I. Even if you have very unique selling proposition, you still have to somehow differentiate your brand. And it's kind of complex thing. You have to do it through visuals, through missions, through values, through messages that you show to your audience. What do you think? What kind of strategies have in your mind?
Internal Moderation in Brand Strategies
Yeah, like I think, again, I agree with you on all those points, especially like when it comes to internal moderation from companies, you know, keeping your sales teams, your marketing teams, your moderation teams fully in loop with everything that your brand is offering is super key because obviously in crypto, communication and trust are like two of the biggest things that we preach.
The Role of Transparency in Branding
And obviously a lot of people also pranche like transparency in their companies. But it's a very difficult thing to have in crypto because transparency can at times damage your reputation. But on the question, I think during crowded times like this in the market, you can have a look at different hype cycles, for example, looking at AI, looking at the deep in one that's currently going around, and also looking at the meme coin space when Solana was going absolutely crazy.
Finding Unique Marketing Avenues
And I think it always comes down to finding unique marketing avenues. Obviously, everyone's using kols, everyone's doing social media, everyone's doing quest campaigns, everyone's doing AMA's. So I think it comes down to not the kind of content you provide, but what is actually behind that content.
The Quality of Marketing Content
So making it unique, rather than just doing giveaways, you can provide something that's actually going to be of use to your community, whether it's a product, whether it's something that's more exciting than just a token or just some money. So I think it's the quality of the content that you push out, not the quantity. We even had some companies were working with that were wanting to do countless AMa's pushing out pr every second day.
The Danger of Over-marketing
And there is such a thing as overuse of marketing when your community becomes tired of it. But I think to see those companies that truly stand out is not only the fact they have a unique products, but they have unique marketing. And that's really crucial. You can see it in their go to market strategies, you can see it in their social media strategies, you can even see it in their content.
Engagement and Content Strategy
There's just something different about them because a general company will post about development updates. That's, you know, let's say it's a game. For example, development updates, post about the token, post about the NFTs, post about their partnerships and I think, you know, that's something we see everywhere. Like no one really is going to be interested in that kind of content unless they're really into the product.
Meeting Audience Expectations
Like if I see an update about some development of a game I'll be like okay, that's cool, but where's the actual game? So providing not only like what your community wants, but also providing like, you know, real content in real time is something that's I think missing from web three. But we do see it in these bigger companies and it's quite ironic that the more strong a brand and a company becomes in web three, the more traditional their marketing becomes.
A Shift Towards Traditional Marketing
A, and you'll see it because they start to do advertising on Coingecko, Coinmarketcap, they start to do more traditional pr, they start to push out into bigger influences brands, they're doing brand partnerships. So those are also unique things to some of the bigger companies in crypto. And yeah, I think in general it's more just about your strategy.
Importance of Team and Product Interest
It's about of course the people you have on board. It's really important to have a strong team in marketing side, otherwise execution is really out of the question. And of course the main thing is just you have to have something that people are interested in because no matter how hard you push, people are not going to grasp onto a product that is at the end of the day useless. Especially in a market where let's say there's another two 3000 of that same product. Really? Would anyone be interested in something like that? I just don't think so.
The Challenge of Brand Recognition
Well, yeah, and I noticed as well that those kinds of services, not services, platforms, CG, CMC started to use more traditional pr and traditional strategies for market themselves to stand out. The competition for brand recognition has never been more furious, I think. And digital native newcomers are using tech savvy direct to consumer approaches to enjoy unprecedented ease of entry. But. Well, I think that there is still a framework for success. And the first step to becoming more differentiated is to take an honest look at your current strategic and operational performance.
Categorizing Brand Groups
So your company probably falls into one of four groups. First, differentiators have both differentiated brand strategy and effective operations. Second, visionaries have differentiated strategies but fall short on operations. Doers have effective operations but are in need of cultivated strategy and hopefuls. Just my kind of a category. I need both a differentiated strategy and effective operation. And to find out which group your brand is in, evaluate your strategic and operational performance separately. Give yourself ranking for each using a scale of one to four in which one equals basic capabilities and four equals differentiated capabilities?
Evidence of Brand Differentiation
Well, there is a path to brand differentiation and thriving as a differentiator and depends on whether your company is currently hopeful, doer, visionary differentiator, blah. And there is an evidence that differentiation matters. Well, I used this framework to assess the performance of 20 well known consumer brands. I did my kind of research recently and the median five year compound annual growth for differentiators exceeded that of all other groups at 10%. So guys stand out. And, well, differentiating a brand in a crowded market requires a clear understanding of what makes the brand unique and the ability to communicate that uniqueness effectively.
Strategies for Brand Differentiation
One of the most important strategies is to identify and articulate the brand's USP. And of course, understanding the target audience is also crucial. Innovation is another key strategy. Like brands that continually innovate, whether through new products, services or base of engaging with customers, can maintain a competitive edge. And this could involve leveraging new technologies, exploring new markets or finding creative ways to enhance the customer experience. Brand authenticity is also important in a crowded market. Consumers are looking for brands that are genuine and transparent.
Building Trust and Community Engagement
By staying true to its values and mission and show that you're staying true to your values, mission brand can build trust and loyalty with its audience. But how can customer feedback be used to refine and evolve a brand's personality and voice? We at cryptic always assemble feedback loops from the partners, from clients, you name it. So we can understand, like do the checkups with the reality. And what do you think about this one, Thomas? Yeah, I think it's a very interesting question and I think, you know, it goes back to the fact that, you know, you're building a product for a community and you're building for your users.
The Importance of Community Insights
So no matter what you do, you should always be in touch with your community. Even as founders, even if you have a company with 2000 people working under you have to know what your community is feeling. Do they like the product, do they like the campaign you're doing? Or do you need to change strategy? So I think if you're getting overwhelmingly positive feedback, of course you have to use that to your advantage. One of the biggest things that we really love is user generated content. Instead of having to focus on building out your own content, strategies and stuff, you give it to your community.
User Generated Content and Brand Loyalty
You provide them with activities, you provide them with the opportunity to showcase why they love your product so much, why they love you so much, why they love your community so much. And that's really important is you have to not always be, you know, saying, oh, we're the best at this. But you have to also show like to your community why you care about them. You know, why are they important? What do they find unique? Why do they use the product? Because real life use cases and user generated content is by far, you know, one of the top three, if not the top form of marketing.
The Effectiveness of Word of Mouth Marketing
Because you're not only showcasing your product, but you're showcasing that you have real people behind that product that support you, that use the product. And you know, that is usually one of the best conversion rates, which is say it like mouth to mouth or whatever you call it, word of mouth, sorry. And word of mouth marketing is by far, even for Nadma, has been our strongest form of getting clients and making community. Because people say, oh, you guys have worked with Admiral, oh, you guys have worked with cryptic, oh, we love those guys, we want to work with you.
Building Long-Term Trust with Community
And it's not even based off like what they know about us, it's just the fact that they trust us. So I think if your community trusts you in the long term, then it essentially makes your brand indestructible to a certain extent. And I think that is one of the most powerful things. So I think never underestimate your community. Never take them for granted because they are people just like you and they use these products just like you. So I think at the end of the day, it's something that, you know, you really have to resonate with them and care for them. And in the end of the day, that is pretty much the core to, you know, to growing your community in the long term as well.
Utilizing Customer Feedback
Yeah, guys, never underestimate your community because, well, customer feedback is a valuable source of insight for any brand, but especially for those who want to create a distinctive and consistent brand personality. And of course, brand personality is a set of human traits and characteristics that your brand communicates to your target audience. And by listening to what your customers, clients, partners say and feel about your brand, you can refine your brand personality to align with their expectations, preferences and emotions.
Steps for Identifying Brand Personality
And of course, first of all, you need to identify your current brand personality. Like this is just the first step. You can use various methods to collect customer feedback such as surveys, interviews, reviews, social media or online forums. And you can also use tools like the brand personality spectrum or the brand personality dimensions to analyze the end. Categorize your feedback into different traits and attributes. For example, you can see if your brand is more sincere, exciting, competitive or sophisticated or rugged and how it scores on each dimension.
Evaluating Brand Personality Fit
Then evaluate your brand personality fit. It's the next step. You can ask yourself questions like does your brand personality reflect who you are and what you stand for? Does it differentiate you from the competitors and attract your ideal customers? You can also use customer feedback to identify any gaps or inconsistencies between your brand personality and your brand performance. For example, you can see if your customers are satisfied, loyal, engaged or advocates of your brand and define your desired brand personality.
Understanding Customer Needs
That's the third step. You can use customer feedback to understand what your customers value, need and want from your exact brand and how you can meet or exceed their expectations. For example, you can see if your customers are looking for innovation, sustainability or social impact from your brand. And of course, the fourth step is implementation. Implement your brand personality across all your brand touch points which we already point out a little bit earlier.
Measuring Brand Personality Impact
Guys, you can use customer feedback to test and validate your brand personality and make adjustments as needed. You can also use customer feedback to measure and monitor your brand personality, impact and performance. You can see if your brand personality increases your brand awareness, recognition, preference or advocacy. It's a powerful tool, customer feedback, to refine your brand personality and create a stronger connection with your customers.
Aligning Brand Personality with Customer Needs
And by listening to your customers and aligning your brand personality with their needs and wants, you can create a brand that stands out and resonates and delivers in one time. Maybe we can look through some comments here. Thomas, I can see that a lot of people are chilling right now. Don't you mind if I will find two questions from the comments and we will discuss them live? Yeah, that sounds like a fantastic idea.
Strategies for Crypto Projects
Awesome. So I can see one of the interesting questions here from most of our what are some effective strategies for crypto projects to create brand awareness and stand out in a crowded market in comparison with traditional ones? Let's compare crypto world and traditional ones. Yeah, very good question actually. Again, comparing traditional and web three marketing is a big thing that we constantly look at, especially with these biggest crypto companies, because as I said, the larger a company gets, the more they revert to traditional marketing.
Challenges in Web Three Marketing
I think it's just due to the fact that webthrough marketing at the moment doesn't have the capacity, or at least most people that execute web through marketing don't have the capacity to get to that level. It's a very hard job. So I think when we look at trying to stand out in traditional marketing, there's a lot more ways for people to actually get their brand out there. You know, we have like everything from stronger events, stronger pr, stronger influences, brand partnerships, advertisements.
Web Three vs Traditional Markets
There's a lot more sources and a lot more uses for content like that as well. Additionally, there's obviously more content that brands like that can produce and usually that also means that they have a larger audience, which is true. You know, web three is still in its bubble. There's a lot of us, but it's still isolated, mostly from the outside world. And I think, you know, that's something that will improve over the coming years.
Evolving Market Strategies
But still the traditional market has that advantage in terms of having more people, which means, you know, more market presence, more users, more influences, more, you know, everything in terms of resources. So that's why it's usually a little bit easier to build a brand traditionally. Still, it's not easy. It's still the same process, trial and error, helping your community, building a brand from nothing. It's never been an easy process. You can, you know, you can watch all those brand stories from Coca Cola and McDonald's and everyone that has built a brand from scratch.
Comparing Branding Approaches
It's never been something that's easy. So I think, you know, no matter what market you're in, it's always going to be a very similar outcome in terms of how you have to build your brand. But I think, you know, it's kind of unfair to compare web three and web two because the traditional market has existed for so long. Traditional business has been around for thousands of years, those strategies have been developed over thousands of years.
Web Three's Future
So that really isn't something that we can directly compare, I feel. And it's also the fact that the web three market took inspiration from traditional business in terms of marketing. That's where the resources came from. So we owe one to that. But I think as web three evolves, we will get more and more inspired to create more marketing avenues that can help brands to kind of shine out from the crowd. And yeah, that's something that we're really interested to be a part of as well.
Distinct Dynamics of Crypto Branding
We are actually a part of this web two world. But still, crypto branding differs significantly from my point of view due to the decentralized nature of crypto industry and the unique dynamics between brands and their end users. Because in traditional branding typically involves a centralized approach where a board or csus strategically plan and convey messaging to consumers. However, in the crypto space, the end users themselves are often the holders or participants of the crypto product, which creates a fundamental different dynamic.
Decentralized Ecosystem Dynamics
So unlike traditional branding, crypto branding operates with the decentralized ecosystem where the community plays like more pivotal role.
Balancing Global Brand Consistency with Local Market Nuances
Maybe it's kind of the only one thing that I wanted to mention and would like to go to another one question from our listeners, how we can balance global brand consistency with local market nuances. From Joshua. Yeah, I think that's a very wide scoping question. Obviously, at the moment, like when it comes to crypto, we see a lot of companies focusing on multiple markets. So, for example, we have a lot of companies at the moment that are working in Turkey, that are working in Europe, Asia and GCC or MENA region, Dubai. These are, you know, like the four strongest regions, at least we've seen in terms of amount of traffic. There are a lot more regions that are also very strong that people have been trying to penetrate in for a long time. You know, there's other industries as well that people are not too familiar with and trying to penetrate into, like India, Pakistan, Africa, South America. So these industries also are very strong in crypto. Actually, some of them are a lot stronger than Dubai, even though people think that Dubai is kind of like a networking hub, which is partly true.
Understanding Market Diversity
But I think when you focus on the entire world, like, to create a brand, it's very difficult. People have different needs, people have different wants, people have different cultures, different religions, and you have to be careful of that. And you also have to be mindful of the way you create content towards those people. So if you're focusing on turkey, it's going to be a very different market than Asia. So I think that, you know, if you create your product towards the niche market that you're focused on, for example, let's say you're doing trading, so turkey is going to be your main focus. You're focusing on, you know, a certain niche, 16 to 25 year old men and women that are doing trading. So that would be your niche. And then eventually, once you kind of get your market built there, your community built there, you can obviously expand. That would be the usual strategy.
Approaching Markets with Strategic Adaptability
If you're a company that has larger aspirations and you want to approach from a multifaceted geographical scope, then I think, you know, approaching regions that have similar qualities or similar people would make the most sense. So, you know, if you're approaching such a wide area, like Asia, maybe you're approaching Vietnam, Philippines, Japan, Korea, Thailand. You know, all of these places have gigantic traffic in crypto, and you could cater your content towards them, build different communities, and obviously do your content willingly. So I think, you know, it really depends on the scope of your product. But I've seen a few different strategies in terms of how people attack marketing geographically, and it's always interesting to see. Yeah, I agree with you.
Adapting Branding for Global Audiences
And actually I think that it's interesting sentence here like go global but think local. Adapting your brand for global audiences is no small task and some companies attempt a method of little change, simply translating materials, overlooking visual elements and hoping that their brand image will resonate abroad. But this can be problematic, especially if brand elements like certain colors, symbols or images don't carry the same meaning among international audiences. But on the other hand, changing your branding materials significantly for each new market is a huge drain on resources and time. So before you know it, your brand essence is diluted, veering away from your core truth. When launching any global branding efforts, consider the following know the non negotiables it's crucial to be clear on the brand's non negotiables.
Establishing Brand Consistency and Adaptability
These elements are central to your core values and company vision, mission, brand look, logo, intent, tone and so on. Then hone in on adaptable elements. Once non negotiables are established, you can then work to identify branding elements that are adaptable for global or local audiences. What works in one country won't necessarily resonate in another, and the goal is to give your target audience something that looks like it was created just for them in their language, which will set you apart from your competitors in that country while remaining true to your brand. So I think it's interesting to use rule 6040, retain 60% consistency globally and allow 40% to be adaptable for local markets.
Final Strategies for Global Branding
This means knowing your brand score, values and key design elements that you can stay true to. What matters most of your brand globally, the 60%, while meeting audiences on their level through adapted imaginary messaging. Local relevance, the 40% maybe I'm wrong, but just some. My thoughts on how we can use those kind of strategies and well, global branding service, many must haves. I think you should know it before you engage with a marketing localization partner to handle brand management efforts. Look at their service toolkit for this industry's standard offerings to minimize redundancy and maximize your dollar. So glossaries, consistent taglines, product names, key terms across all your brand assets are a key element of brand recognition.
The Investment in Building a Global Brand
Translation, memories, tone of voice guides and I think that building a global brand takes time. And in order to find success, it's also requiring investment, particularly with the in country linguists and specialists who know how to hit the right note broad. And the right partner will help you to identify similarities between markets for sure. Okay, great. I think that we have left not really a lot of time for our episode here, so I suggest we explore the last question from our agenda. Explore the common pitfalls to avoid when building a brand identity and then wrap up the space. Yeah. By pitfalls of a brand identity, do you mean in terms of, like, the process or maybe like some problems that companies would face?
Identifying Brand Identity Pitfalls
Let's point out, like, some challenges or mistakes that should be avoided to have a more resonatable brand identity. Okay, perfect. Yeah. I think one of the simple ones I mentioned before, which is obviously like making too many changes to your brand identity, obviously that can be quite damaging in the long term. Another one, obviously, is not fully utilizing your community, not utilizing their feedback. That can lead to obviously, basically your community liquidating and you lose all of your users and all of your revenue. That would be by far the worst case in terms of your brand getting destroyed, I think is also, you know, sacrificing your brand for money or sacrificing your brand for something that's not actually going to last long term.
The Importance of Strategic Planning
This is something we see a lot in crypto and it's never worth it. It's always for the short term and it always damages everything that you built. But I think, you know, it's always about the process. So I think you have to have careful planning and consideration whenever you start a brand. And obviously that means having the right people by your side to support you, to help write that strategy, and obviously also execute it while you're doing that. So I think there's always going to be a few issues when it comes to how you build your brand strategy, but at the end of the day, it's really looking at, you know, who you're building it with, how you're building it, and also how it's executed.
Strategies for Maintaining Brand Integrity
So always it'll be, you know, focusing on strategy metrics, feedback loops, and ensuring that everything that you're promising is actually being delivered. And I think that is, you know, one of the main problems that we see with brand identities in the space, but something that I think for sure is improving with the current projects coming out now. Yeah, I agree with you. And let me add some of my thoughts as well, because I've seen a lot of different kinds of mistakes that people do about building their brand identity and brand as a whole.
Common Mistakes in Brand Identity Development
And one of the most significant mistakes is inconsistency, as you said. I just want to note that one more time. Brand identity needs to be consistent across all platforms and touch points to be effective. Inconsistent use of logos, colors, messaging or tone can confuse customers and dilute the brand's impact. And to avoid this, it's essential to develop and adhere to a comprehensive brand style guide. Well, overcomplicating the brand identity is another mistake. Well, it's tempting to create a complex and intricate identity.
Simplicity in Brand Identity
Simplicity often works best and brand identity should be easily recognizable and memorable. Overloading it with too many elements can make it difficult for customers to understand and relate to the brand. So focus on few key elements that effectively communicate the brand's essence. Copying competitors is another pitfall to avoid. While it's essential to be aware of what competitors are doing, the brand identity should be unique and original. Simply mimicking a competitor's identity can make the brand appear unoriginal and fail to differentiate it in the market.
Evolving Brand Identity Over Time
So instead focus on what makes the brand unique and emphasize those aspects and their identity well. Lastly, not evolving the brand identity over time can be a mistake. While consistency is crucial, it's also important to periodical review and update the brand identity to ensure it remains relevant and aligned with the brand. Growth and changes in the market so stagnation can lead to a disconnect with the audience and make the brand appear outdated. And I think it's time for to wrap up a space to wrap up our exploration of brand identity for today.
The Essence of Branding
It's clear that creating a strong and enduring brand requires more than just clever logo or catchy slogan. It's about building a consistent, authentic, relatable presence that connects with your audience on a deeper level. And we have discussed the essential elements that play the groundwork for brand identity, from core values to visual identity, how each component plays a crucial role in shaping how your brand is perceived. Articulating a brand personality that truly resonates with your audience involves not just knowing who you are as a brand, but also understanding who your audience is and what they value.
The Power of Storytelling in Branding
Storytelling emerged as a powerful tool in this process, giving life to your brand's voice and helping to create a lasting emotional connection with the customers. So we've touched one of the importance of adapting your brand's voice to different cultural contexts without losing sight of your core identity balancing act that can open up new opportunities in global markets. And Thomas, maybe you have some final thoughts for our listeners. Final advice maybe, or you want to share some updates on Natmach at the end?
Future of Branding in Crypto
Yeah, I think all the points have been really well touched on and I think always something that we look forward to is helping to build more of these brands along with crypto. You know, that's kind of what we always love to do is wherever we find our weaknesses. We always have partners that are always strong to fill those gaps. And, you know, obviously, helping to build brands has been something that I've learned through our partners, along with cryptic, of course, helping us with that side. So I think, you know, in the future, I look forward to building these kind of companies and building these kind of narratives with the companies that we work with.
Key Takeaways from the Discussion
And really, you know, the pieces of advice that I've given throughout this talk are mainly summarized in, you know, caring for your community, building a proper storyline, and obviously, you know, making sure that all of the data that you collect, all of the feedback that you get is actually utilized within that. So I think that's, you know, my main three important points. But, yeah, I think it comes down to creating a properly unique product and then just executing the marketing as transparently as possible.
Building a Sustainable Brand
I agree with you. Thank you for your thoughts. Thank you, Thomas. And as you move forward, guys, with your brand efforts, remember that building a brand is an ongoing process. It requires not only creativity and strategic thinking, but also the willingness to adapt and evolve in the changing landscape. By staying true to your brand's core values and consistently engaging with your audience, you can build a brand that not only stands out today, but also remains relevant and respected for years to come.
Conclusion and Acknowledgments
Guys, thank you for joining us on this journey into the world of brand identity. And we hope you live inspired and equipped to take your brand to a new height. I want to extend a huge thank you to Thomas for participating in this episode with cryptic. Thank you so much. It was a pleasant talk and I hope that we could host more episodes like this. Yeah, just thank you. And it was Pauli from cryptic pr lead here signing off.
Final Reflection
Wishing you only the best. Stay curious, stay informed, and of course, build your brand identities. That gonna stand out in this crypto market. Thank you, guys. Have a good rest of the day. And ciao. And ciao, Thomas. Bye bye. Thank you, Pauline. Thank you everyone so much. Hope you guys learned something and looking forward to our next AMA. True, true. And listeners, don't forget to drop a follow to cryptic, to Natmah as well.
