The Roles Of Branding in Crypto Currencies
By Femi Haastrup, CEO Femtrup LLC
There’s so much hype and publicity about crypto-currencies these days unlike some ten years back. All of a sudden now, bitcoin and crypto-currencies are the talk of the town. The awareness and popularity are largely due to ‘‘branding’’ which has made them more popular now than before and branding has more importantly caused a continuous rise in their prices.
What Are Crypto-Currencies?
Crypto-currencies are digital, encoded currencies created with the blockchain technology. This blockchain technology is extremely secure which makes it almost impossible to be hacked.
These currencies are also decentralized meaning they are not controlled by a single authority (the central bank) but controlled by the people that created them.
What Is Branding?
Branding can be defined as a marketing skill that enables a company to create a name, design, logo or a symbol that makes them identifiable as a company. Creating these logos, symbols and names helps you differentiate yourself from other companies, products and services.
Your brand is created to be a real symbol of what you stand for as a business, and how you wish to be seen.
Branding is key to any organization because it does not only create an impression on customers; it also lets them know what to anticipate from the company. Branding is a differentiation strategy that gives a company a competitive edge over competitors and it also shows what makes you the better choice amongst other competitors.
There are certain key agents of brand creation and these are; advertising, customer service, promotions, good corporate image and logo. All these fundamentals work to create a unique and attention-catching professional profile which crypto-currency creators use in branding.
Why Is Branding Important in Crypto-Currencies?
Branding is absolutely key to the blockchain business because it creates brand awareness about a crypto currency, it changes the way people see digital currencies and will also drive massive patronage for the crypto currency.
Branding Supports Crypto Advertising
Advertising is the major element of branding. The use of crypto currency advertisements directly reflects the corporate logo of the crypto brand to the world, it makes the crypto coin known to the world and it also shows the world what differentiates the crypto currency from others in the market. Crypto currency adverts are done using all forms of media such as the electronic media (social media, e-mail dashboards, T.V ads, radio etc.) prints media such as billboards, flyers and banners. Also the use of advertising forms such as promotional items make it easy to create an appealing image that keys well into the crypto branding goals.
Today, crypto currencies are being promoted in Whatsapp forums, Facebook groups and Telegram groups, webinars and investors are turning up in large numbers day in day out. Advertising has brought about the acceptance of crypto currencies worldwide.
Branding Helps Your Crypto-Currency Get Recognition
Branding helps you get massive recognition for your crypto-currency because it makes your crypto-currency known to investors. Your crypto logo is the most germane aspect of branding because it is fundamentally the face of your coin. This logo is what people see every time the crypto coin is mentioned or talked about and like earlier discussed, the logo distinguishes the crypto-currency from other coins.
For this reason, a professionally designed logo should be clearly unforgettable, thereby making an impression on a potential investor at the first sight. Flash images broadcast in e-mail boxes, printing on promotional gift items, printing flyers are ways of getting the brand across.
Crypto Branding Increases Crypto Business Value
Crypto branding is very essential in generating prospective business leads. A reputable crypto brand will easily increase its business value and will give it more clout in the block chain industry. This then makes it a more worthwhile investment because of its strategic position in the marketplace.
Crypto Branding Breeds New Customers
A good crypto brand will not have problems generating referrals for the company. With a strong branding, the company automatically makes a positive impression on the potential investors and this will in turn make them want to do invest in the crypto currency because of the trust and assumed reliability of using a brand they can depend on. Once a brand has been firmly established, using word of mouth will be the most effective form of advertising and you can easily watch it grow.
Branding Creates Trust in Investors Within the Blockchain Industry
Branding and trust are inter-connected. A professionally branded face will help crypto currency brand build trust in both existing investors and potential investors. People tend to do business with a company that is well branded and that also has a refined face.
Proper branding gives the impression that the company is an industry expert and this brings about trust in investors as they will trust the crypto company and the way the crypto company carries out its business transactions.
Crypto Branding Improves Employee Pride and Satisfaction
A well-branded crypto company boosts employee pride just because of the good reputation and credibility built over time. Employees won’t hesitate to solidly portray themselves as ambassadors of the brand. This will make them more fulfilled with their job and also give them a high degree of satisfaction in what they do.
Having a branded office with all sorts of promotional items displayed can give employees more satisfaction and can also give them a good sense of belonging to the company.
With Branding You Can Place the Right Value on Your Product
Most times it can be very difficult to secure customers or investors at first when starting a crypto company or crypto brand and in a bid to attract investors, you may have to charge way less than the value of your crypto coin. But with a well-branded crypto currency, you would be seen as a professional in the blockchain industry and you may want to list your crypto currency at a fair market value. If potential investors see how much work was put in your branding, they will definitely value your brand and wouldn’t even mind paying higher for it.
Branding Makes You Stand Out in a Saturated Crypto Currency Market
Because there are a lot of crypto brands coming up now, a good branding will help a crypto currency stand out amongst rivals. Obviously, what your brand is offering is the same as what other brands are offering but potential investors will choose you because of your brand, the packages you offer and because of the vibe that your brand bears. First impression they say lasts long.
Branding Makes Your Crypto Brand Credible
A well-established crypto brand makes your brand come across as credible, it’s only natural especially when you come off as a professional and you know your onions in the industry then investors will have no other choice but to see you as credible and would definitely want to invest in your brand.
Now you’ll agree that branding is very germane in the blockchain business. If you’re thinking about starting a crypto currency brand, you may want to carefully read through these cogent points indicating the roles of branding in the crypto currency business and you’ll be glad you did.
Featured image by QuoteInspector.com