5 Biggest Crypto Branding Mistakes and How to Avoid Them | Coinspeaker

5 Biggest Crypto Branding Mistakes and How to Avoid Them

UTC by Andy Watson · 6 min read
5 Biggest Crypto Branding Mistakes and How to Avoid Them
Photo: Freepik

If you take care of the marketing and the human side of the business as diligently as the coding, your decentralized project can flourish despite cutthroat competition.

So you’ve poured your blood, sweat, tears, and life savings into building the next-generation decentralized platform that will revolutionize finance as we know it. Yet somehow, almost no one has heard of your project. You hang your head in despair as inferior crypto brands with weaker tech but slicker marketing steal the spotlight and dominate the industry.

If this sounds like a familiar story, it’s likely you are making some fundamental mistakes when it comes to branding and marketing your project.

But fear not – in this post, we will highlight the biggest crypto branding blunders that may be plaguing your project and provide some much-needed advice on how to steer your ship true through the treacherous waters of hype, buzz, and community building. With some strategic tweaks, your creation will soon find its audience.

Forgetting Your Brand Story

When launching a crypto project, many founders focus exclusively on touting technical complexity or profit potential without realizing the power of simply telling a compelling story. A lot of the time, people don’t simply back ideas, they support causes championed by passionate crusaders who have overcome adversity.

Consider Bitcoin – beyond ingenuity, Satoshi architected a movement by publishing that whitepaper during chaotic financial times. This framed Bitcoin not as some nerdy experiment, but as a radical challenge to a failed system that had betrayed public trust. The mystery creator vanished, yet we permanently feel Satoshi’s conviction because Bitcoin birthed itself as an urgent mission, not simply a nifty idea.

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Bitcoin’s solution is to use a peer-to-peer network to check for double-spending. In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. The result is a distributed system with no single point of failure. Users hold the crypto keys to their own money and transact directly with each other,” said Satoshi Nakomoto.

Compare this to many cryptos today promoted through sterile corporate marketing strategies using buzzwords like “scalability”, “consensus algorithms”, and “tokenomics”. Snooze! This clinical approach fails to ignite any long-lasting sparks in people’s hearts or minds no matter how advanced the technology.

Amateur Logos and Designs

Lots of crypto builders are so laser-focused on complex tech that they overlook the power of visual branding to capture attention. But in a crowded marketplace, people make snap calls on surface appearances – fair or not.

Logos that look hastily scribbled or comic sans fonts scream “amateur hour”, undermining your genius engineering. Trippy color schemes also yell “unprofessional”. Yet quality design need not bust startup budgets these days. Sites like Fiverr and Upwork offer freelance branding pros and graphic artists with skills ready to craft slick identities.

And it isn’t just about logos and color palettes. You need to maintain consistent branding across your website, promo materials, swag, and apps – wherever you fly your flag publicly. While innovative tech drives long-term utility, remember humans are visual creatures who equate polished branding with credibility.

Lack of Brand Voice and Messaging Consistency

Following on from the last point, lots of crypto projects appear straight up chaotic when you compare their websites, interviews, tweets, and Discord. Mixed messages like this only serve to confuse more than grab attention or inspire loyal followings.

Instead of this hectic portrayal of a brand, smart teams create style guides to align communications so that everyone is on board and singing from the same hymn sheet.

Define your voice upfront – is it going to be formal or informal? Technical or conversational? Then ensure your website, press releases, blog posts, and social comments all stay “on brand”.

Just take a look at Apple’s famous marketing – their ads, slogans, exec interviews all crisply convey the same polished vibe. That consistency cements their positioning in people’s minds. Follow their lead and set messaging guardrails to continually reinforce what your crypto brand stands for and who you aim to serve.

Poor Community Management

Even cutting-edge crypto projects need dedicated users, not just investors chasing profits if they want to make a real impact. But founders often overlook community building and just focus on the tech roadmap. Without grassroots fans spreading the word, even groundbreaking ideas risk not getting the spotlight they deserve.

Smart teams engage supporters right where they’re at – Twitter, Discord, Telegram, Reddit. Listen, respond, and make them feel heard. Give the most dedicated fans some exclusives like NFTs or VIP access to spark that cult-like dedication. Let key community members feel less like corporate reps and more like trusted neighbors.

Imagine if Apple never had Genius Bars or if Sony ignored gamer feedback. You can bet those tight customer connections would disappear really quickly. The same goes for crypto projects – don’t just build protocols, build movements. The tech lays the foundation, but the people ultimately decide which ideas reshape the world.

Lack of Media Coverage and Partnerships

Lots of crypto projects dump tons of money into influencer promotions, online ads, and giveaways – the usual tactics. They move the needle, no doubt. But exclusively relying on insider marketing causes teams to miss out on other critical visibility opportunities.

Smart public relations means actively pitching stories to both crypto native platforms and mainstream tech journalists. Top blockchain outlets intrinsically get decentralized concepts and have hardcore niche audiences. But getting coverage in heavyweight technology and business publications expands awareness way beyond crypto’s inner circle.

Strategic partnerships are important too. Aligning with prominent crypto players plugs you into their vast communities and insider perspectives. Creative collaborations outside the space get you in front of new networks. And if your tech empowers major consumer or enterprise partners? Those connections give you major third-party credibility plus extend your reach big time.

The play is balanced. Crypto-native promotion needs to be priority #1 but failing to work mainstream access leaves lots of adoption potential untapped. Blend insider and external outreach, layer in savvy PR and strategic collaborations to project authority, and capture wide attention.

Final Word

At the end of the day, it takes more than killer crypto tech to thrive long-term. You need to share stories that resonate, showcase slick branding, speak consistently, build communities, and work insider and mainstream channels.

If you take care of the marketing and the human side of the business as diligently as the coding, your decentralized project can flourish despite cutthroat competition. But neglect branding and promotion, and even the most brilliant innovations risk fading into obscurity.

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