Blockchain Branding Strategies 

In a competitive industry marked by skepticism, blockchain brands must work harder than traditional brands to earn the trust of their audience. A study by the University of Surrey states that 90 percent of blockchain startups fail.

While traditional brands can leverage influencers and celebrities to build a following and establish trust, blockchain brands must demonstrate verifiable on-chain activity or obtain third-party audits to prove their reliability. They must establish a strong narrative that resonates with their target audience. This includes educating users on the technology, its benefits, and its real-world applications.

With strategic blockchain branding, you can achieve these goals and build a loyal community of lifelong customers that will help you stay competitive. Now, the question is: how do you do that?

Let's dive into the essential components of blockchain branding.

Blockchain branding involves creating a distinct identity that embodies a brand's values, personality, and message, and resonates with its target audience. It is built on transparency and openness, a somewhat different foundational approach to visually driven and marketing-heavy traditional branding. 

Blockchain brands must establish trust differently than relying on flashy ads and celebrity endorsements. They must also consider the industry's decentralization aspect. 

That said, establishing a strong, distinct brand identity while adhering to the tenets of decentralization is a tricky balancing act in an ever-changing industry. However, for successful blockchain brands that navigate through effective branding, the rewards can be substantial.

Blockchain branding does more than getting your name out there. It can be an effective brand strategy in building and improving your brand image, reaching the right audience, and increasing your revenue.

Helps people understand what you do

Blockchain is an inherently complex and novel concept. The mere mention of the term already confuses people, especially those outside the tech industry. However, with good branding, you can simplify complex ideas and communicate what a blockchain company does in a relatable manner.

Strengthens customer connection and brand trust

The blockchain industry is highly volatile, making trust and strong customer connections crucial for a company's competitiveness. Effective blockchain branding achieves this through a relatable visual identity (logos, colors, imagery, etc.) and authentic storytelling about the company's offerings. This creates a sense of belonging for the internal team and customers, building lasting relationships.  

Differentiates you from the market 

Blockchain-based branding highlights unique features by creating an identity and a story that differentiates it from other blockchain companies. For example, Bitcoin's brand story centers on freedom and control over one's money. This unique brand message is striking, helping people remember Bitcoin and choose it over others. 

Blockchain companies will look the same without branding and get lost in the crowd.

Enhances profitability

Branding is a strategic tool that helps you determine the best way to reach your target audience, what to showcase, and how to build trust step by step. The more people know about and relate to your blockchain brand, the higher your chance of attracting the right users and investors. 

In the long run, blockchain branding enables companies to grow by cultivating a loyal customer base that provides continuous support and recommends your blockchain brand to their friends and family.

These benefits can also serve as a reference for the goals you want to achieve when considering brand design companies. 

The success of a blockchain brand is anchored on establishing a strong foundation comprising these key branding elements.

Solid core values and brand mission

Core brand values are fundamental beliefs that shape the blockchain's identity, culture, and environment. The brand mission explains the blockchain brand's reason for existence and what it wants to achieve in the long run. 

Having clear and defined core values and a strong brand mission guides the creation of emotional connections between the blockchain company and its users. Together, these elements foster trust, inform decisions, and cultivate a local community with like-minded people. 

Memorable visual identity

A brand's visual identity is not only for aesthetics. It visually represents your brand's personality, values, and other branding elements, which helps build rapport with your audience and potential partners. 

This is expressed through your logo, colors, fonts, and overall brand design style. For instance, you might see blockchain logos that utilize color schemes that evoke trust, like blue or a combination of black and white. Some will also use shapes or icons commonly associated with security and stability, like shields, keys, and locks. 

Finally, a memorable visual identity is built to last, adapting across various digital platforms and social media to ensure consistent recognition. 

Consistent brand voice and messaging

The brand voice is the tone and style a blockchain uses to communicate with its audience. It's an integral part of a blockchain company's overall brand identity, injecting personality through its words and tone of voice. Meanwhile, the brand message is the story and information it shares about what it does and why it matters. 

For instance, a blockchain brand may adopt an authoritative voice to demonstrate its competency and foster trust in an industry plagued by scams. It can also share stories about how the brand helps people take control and inspires positive change. These key branding components can build credibility and a genuine connection with its audience. 

Compliance with regulatory frameworks

A blockchain company that follows regulatory frameworks to the letter showcases its credibility and willingness to prioritize its customers' personal interests and safety. These frameworks ensure legal operations are in place, making customers, shareholders, and regulators confident in the brand. 

Some of the legal bodies and rules a blockchain brand must comply with include:

• Anti-money laundering (AML) laws: Blockchain companies must implement procedures that screen for suspicious financial activities associated with money laundering or other illicit uses of blockchain-based products.
• Know-your-customer (KYC) checks: Blockchain platforms are required to verify customers' identities to prevent and deter fraudulent activities.
• Data protection regulations: Blockchain brands must comply with data privacy laws to properly handle and safeguard users' personal information.

Work with a branding identity agency that understands the intricacies of blockchain branding, from fundamentals to key branding elements and strategies. 

What can you do to level up your blockchain branding? Here are some actionable tips to get you started.

Storytelling

Compelling storytelling in blockchain branding takes many forms. It can be shared through stories about people that the blockchain brand has helped. It can also be through engaging content, like videos, memes, and infographics, that use simple language and a distinct brand tone. 

Another method is to carve a space for your community to discuss. This can be through social media platforms like X, Instagram, and Discord, where they can participate in the story. 

For instance, blockchain companies can start a story on Discord and allow community members to contribute to it, creating a positive brand culture. They can also publish educational blogs and podcasts that inform their audience about their brand's upcoming projects and blockchain trends. 

Storytelling in cryptocurrency branding refocuses on people by highlighting real-life stories that inspire and showcase the brand's positive impact.

Community engagement 

Community engagement builds stronger loyalty when people feel involved. They tend to stick around longer and actively support the brand. It also encourages the community to share their experiences, helping the brand identify flaws early for improved product development. 

One way to encourage community engagement is by offering rewards and incentives to users for their participation. For example, in exchange for digital tokens, users can create and share content about the brand on social media.  

Partnerships and collaborations

Blockchain brands that partner with trusted companies can boost their brand image and extend their reach by tapping into their partners' target audience. 

Another creative technique in blockchain branding is collaborating with influencers. They can help you explain your offerings and reach out to niche markets. Some popular blockchain influencers who excel in this area are Alex Saunders, Matthias Mende, and Sergio Kabo. 

However, working with an influencer is not as simple as choosing the most popular individuals on the list. You must vet them accordingly, ensuring that your chosen influencers align with your values and resonate with your target audience's experiences at a minimum. 

Decentralized social media platforms

Social media platforms, like Facebook and Instagram, are favored by brands for their massive reach. However, they are controlled by a single company, influencing what you see and who gets banned on their platforms. 

Growing your brand on a decentralized social media platform appeals to users who value their data and privacy, much like those who use blockchain. In effect, it strengthens users' trust and loyalty. Some examples of decentralized social media platforms to consider are Steemit, Mastodon, and Farcaster.

Highlight sustainability and social impact campaigns

The demand for blockchain companies championing sustainability and societal change is rising. This aligns with consumer and government pressure for transparent, verifiable, and efficient solutions to address environmental and societal challenges from all businesses. When you prove that you care more than just making profits, people are more likely to trust your brand and support your causes. 

We have seen several blockchain companies take the lead. There's Algorand, which provides sustainable blockchain infrastructure; Mojaloop, with its open-source software for creating low-cost payment platforms; and Big Green Dao, promoting decentralized governance for nonprofits. 

Transparency and security

A blockchain brand's reliability is rooted in its transparency with its audience regarding internal operations, product development, and other key aspects. Blockchain customers are also keen on a company's security measures.  

One of the many ways to ensure transparency and security is to hire a reliable third-party auditor to review your system and check for bugs and other discrepancies. You can also add features that enable buyers to view the history of all transactions. 

Scams and hacks can occur, even for the largest blockchain brands. Therefore, it is essential to have safety checks, such as multiple approvals, to ensure the security of every transaction. 

Consistent communication

Poor communication leads to confusion, loss of trust, and eroded confidence. Here are some communication strategies you can implement to develop a stronger relationship with your customers: 

• Skip the tech talk. Please keep it simple! Explain in a language that your audience can easily understand. These can be through memes, infographics, and short videos to enhance engagement. 
• Give regular updates. Let your users know what's happening, whether good or bad. This fosters a sense of belonging, which can strengthen loyalty and commitment. 
• Establish a two-way conversation. Listen to your users by allowing them to give feedback and ask questions. You can hold virtual AMA (Ask Me Anything) sessions and reward active participants to encourage engagement.

Customer support

The quality of the user experience delivered by a blockchain brand significantly impacts user trust. That said, efficient customer support should be in place to ensure a smooth user experience. 

Some branding strategies you can implement include enabling customers to track the status of their requests and providing a more transparent process. Blockchain brands can also automate customer support processes promptly. This reduces delays and human errors

So, what does effective crypto branding look like in the real world? Let's examine the two most successful brands in the market: Ethereum and Chainlink.

Chainlink

Chainlink's brand has gained a firm footing as a specialized data provider for blockchain companies. Think of Chainlink as the Google of crypto, connecting blockchains to real-world data. This unique product made them the go-to solution for smart contracts needing accurate information. 

A single slogan effectively communicates the brand's importance: The Backbone of Blockchain. This clear positioning establishes Chainlink as a trusted provider. 

Given its focus on serving other blockchain-based businesses, Chainlink's branding adopts a professional tone. This means there are no fancy celebrity endorsements, but partnerships with some big tech companies, like Google Cloud and SWIFT. Chainlink also collaborates with well-known blockchain companies, like Solana and Avalanche.

Regarding community growth, Chainlink co-sponsors events like Hackathons that invite programmers of all levels to participate. It also provides grant programs that encourage developers to build products with Chainlink. 

Ethereum

Ethereum's branding is deeply rooted in utility, community, and real-world impact, making it a leading blockchain platform. Ethereum has a strong B2C focus, targeting developers, artists, and gamers. Its capabilities in decentralized finance, NFTs, and smart contracts are encapsulated in its catchy slogan: "Ethereum is the future of the internet." 

The brand has seen significant adoption, with financial giants like Deutsche Bank building directly on Ethereum's infrastructure. This establishes trust and long-term commitment, positioning Ethereum as a platform for innovation, not just a digital coin.

While the product is complex, Ethereum's branding aims to be accessible by presenting a fun and approachable image. Ethereum's founder, Vitalik Buterin, is also recognized as a crypto celebrity and influencer, further boosting the brand's image. 

Like Chainlink, Ethereum has spearheaded hackathons and grants for competitive developers. It also has a dedicated hub for all users to access blockchain resources and get Ethereum event updates. And when it comes to environmental campaigns, the 2022 brand transition from a proof-of-work mechanism to a proof-of-stake has paved the way for reducing Ethereum's electricity consumption, further fueling its sustainable development. 

Branding for blockchain companies extends beyond creating a buzz. It's about establishing an authentic and transparent identity that rises above the noise and bridges lasting connections with their target audiences. Another glaring trend is how the future of blockchain branding will be shaped by the increasing need for sustainability and social responsibility by eco-conscious consumers. 

In an industry where trust is the main currency, you'll need a team you can rely on. Let an expert branding identity agency help shape a profound blockchain brand and position you for success.