Marketing in Crypto: When brand?
By: Katoshi
Tags: Bitcoin, Cryptocurrency, Marketing, Crypto Marketing, Branding

Crystallize Your Positioning

Simply, anyone should be able to detect what is the specie you are. It is quite far for mass adoption if we can’t speak a real understandable language with an average Joe. But first, give yourself an answer — what do you do and why? It is easy to hit someone with a question "Why do you need a blockchain?" and watch them wither in a labyrinth of explanations. If you can’t find an argument WHY and WHAT — leave it. Freeze it, break it, burn it, kill it. No one said it’s easy. If you have this answer, you’re a winner (joke)!

Next step is to envelope your answer in 1–2 sentences. That will be your positioning which should transform into 1 comprehensive sentence, preferably as shorter as possible. That will be your key message, an essence of god's thought and the only thing that should stay in a memory of your victims (sorry, users).

In the market of uncertainty where near possible role is to be an altcoin (sometimes automatically turns out to be shitcoin tagged), find yourself a bigger cause of existence (I mean, for your cryptocurrency project, but don't forget to take care of yourself too).

Hint: Start from communication strategy if you feel lost. Not that I want to mess up the classical flow of strategy creation (business, marketing, communication, digital, then social media…), but this document is a fundamental guide about what you are going to say. Market, competition, audience, trends and problems analysis will be your analysis base. Gather insights. Look where you fit in. Make a value proposition for the end user. Find the right words to deliver it.

Warn: Don't fool people. If you don't fit the market need masking it with the help of cool words, upgrade your initial product idea first.

Power of Identity

All heil beauty comes in the form of identity! Well, we know communication is not only verbal but visual (and can be broadcasted via any other possible medium of informational exchange).

To my surprise, for many identity and branding are the same thing. This is just wrong. Without identity, actually, you can't proceed with branding. But the main confusion comes from another word — rebranding, which is a marketing strategy in which a new brand identity is created. Identity is a part of rebranding and depicts mental and functional associations with the brand. Wrapping up your assets via the creation of more emotional associations is branding. I like to compare the consonance of words "identity" and "entity", because it is really like creating one: giving a name and sound, shape, color, specific patterns and dedicated visual associations.

Filling up an identity brief once took around 5 hours for me. Basically, it is a great refining and detecting gaps tool. After you have an essential message for the audience, try to clearly define the next points (but not limited to):

What are your brand advantages for users? Find up to 3–5.

What exactly distinguishes your brand from the competition? 3–5 characteristics. If it is possible point to the main.

What are your brand values? Find up to 3–5.

Which words are forming your brand tag cloud? Does it sound like you want to look in ones eyes?

Hint: Semiotics is a science. Strive for scientific approach. You better be aware about the general identity creation process, but let this work for professionals to do. Keep yourself disciplined and independent from your inner hype. It’s not about you to like the final result, but the perception of end users. Handy to check it with focus groups.

Warn: Always check what is hidden beyond semiotics and meaning to avoid misunderstandings.