Thousands of books have been written with the aim of helping people brand their new business in the best possible way. The topic is complex and full of potential pitfalls. Throw into the mix that you want to brand a cryptocurrency business and the problems multiply.
How can you brand your startup for such an emerging market that is often unknown or misunderstood? This is the main question addressed here. Read on to discover how you can brand your crypto startup in the best possible way.
But First, What Is Classed as a Cryptocurrency Startup?
A cryptocurrency startup may be a startup launching its very own cryptocurrency. But unless you also own a social media giant like Facebook, you probably don’t fit into that category. It is more likely that anyone creating a new crypto business will be offering a product or service.
For example, Luno offers an exchange platform where users can exchange cryptocurrencies and fiat currencies, and they offer a secure bitcoin wallet. Any startup trying to offer the same things would also be classed as a crypto startup.
Some fintech startups that overlap with the crypto world may also class themselves as a crypto startup, but to a lesser extent depending on their crypto involvement.
Why Crypto Branding Is Even More Important
Cryptocurrency usage is increasing across the world but despite this, it remains a new financial system. One of the biggest barriers for people getting involved is the fear of the new technology behind it and a lack of understanding of how it works.
People may be worried to try cryptocurrency because they have read horror headlines of millions being lost in seconds and may be put off. Any new crypto business needs to extinguish these concerns and the best way they can do that is through their branding and their messages.
Crypto startup branding may be the key to success – even more than it usually is.
The Best Ways to Brand a Cryptocurrency Startup Successfully
#1. Avoid the Jargon
Most people getting into crypto have not walked out of Wall Street or are involved within fintech circles. The core of the crypto community is made up of everyday people that decided to understand more about crypto as an alternative financial option. They learned about it because they were handed simplified terms and digestible content.
Your brand should do the same. If you stand any hope of gathering some of the market you need to cater to their needs by quitting the jargon and keeping your language relatable.
#2. Make Your Website Secure
A secure website is the best way to protect your brand. Any wrong move and potential hack could not only lose all your clients’ investments, but it is almost certain to spell the end of your crypto business. With so many options out there, no customer will choose an exchange or service provider that has been hacked in the past, especially when there are other options with 100% clean records.
You can learn about the aspects of a website that have the most impact on your company branding here.
#3. Highlight Your Customer Service
When most people consider getting into crypto, their biggest worry – as discussed – is security. The promises you make to your customers will get you so far, but many of those customers will still be asking themselves what will happen if things do go wrong.
A crypto brand is a lot more powerful if it has a forward-facing and human customer service strategy. Using chatbots and taking days to reply to emails is not going to make potential customers feel any more secure. They want instant responses from real people with answers. Offer them this to highlight yourself as a caring and safe brand.
#4. Discuss, Don’t Tell!
Most startups that are creating their brand will choose to put out as much content as possible to make themselves and their voices known. What they often neglect is having a conversation with those already in the industry.
We don’t mean heading to a conference and chatting with people – although that helps – but they are not engaging with other content already posted on social media or crypto forums. You can make your brand stand out by having an insightful contribution to another discussion as well as starting your own.
In crypto, there are many discussions ongoing all the time because the industry is in its infancy and everything seems new. Get involved to promote your brand further!
#5. Smile, You’re on Camera!
When people do their research on a crypto company, they are told to read papers and look up reviews. They are also told to do some digging on the people behind the company. A fake or scamming crypto exchange can be spotted because the photos of the team on the website look like models or actors – not real people. Some have even mistakenly added celebrity images to their marketing team and so on.
Your brand should be complemented with real photos of you and your colleagues with their history, experience and even links to their socials. This will help anyone feel an authenticity with your site when they are researching what you are all about.
It’s Not Easy BUT It Is Possible!
There is nobody saying it is going to be easy, but that doesn’t mean it is impossible to create a winning crypto business. The industry was built from a great idea, and if you have one too and follow the crypto branding principles above, success could be just around the corner. Or you can ask for professional help like ICODA marketing team.
The key takeaway is that your future customers are anxious, nervous and worried about joining the movement. However, with the correct tactics of transparency and openness, your brand is able to reassure them and welcome them aboard the crypto train.