There are two key points to keep in mind when it comes to branding blockchain, Bitcoin and the future.
The first is that there are a host of new and important brands entering our lives and changing the game in a transformative way. These are the new gig economy brands, A.I., things like IoT, Blockchain, and the most famous, Bitcoin. Think of it this way, the dollar is just a piece of paper, but branding has made it valuable.
Likewise, the new breakouts need to brand around expectations and those who believe in their magical powers. The emphasis is on magic since many of these brands are not physical or places you can touch or feel ... they live virtually and in your mind.
So how to brand the future is more reliant on a big movement idea than in the past. I recently spoke with Ahmed Al Ansari, CEO of Dubai South. He said “When it comes to branding the future, it’s essential that you brand with an idea, a big idea, and an idea that is relevant and disruptive.”
When we branded Dubai South, we said: “The City of You”. This said we are building the city around the human and not the other way around. Another example of a brand for the future is Airbnb, which competes with the hotel industry, with their idea “Belong Anywhere”.
The second key point is blockchain, a big disruptive force in the making. Knowing its impact on branding is key just as the launch of the internet was fundamental back in 1999 when the web came into its own as a force. (It was the same year we launched StrawberryFrog by creating the portal Elle.com.) In reality, no industry is safe from the revolution that blockchain technology is bringing upon us. If your industry deals with data or transactions, you will be affected. Blockchain is already having a major impact on the marketing universe, primarily through shifts in trust, customer experience and branding.
For a business, how your ads are purchased is radically changing through blockchain technology. Very soon you’ll be able to buy ads directly and pay only when it engages with your designated target. And a premium based on how well the target has engaged or how much attention given.
Think of attention as the next great valuable resource to be mined. Blockchain is able to track consumer interaction with an ad. Blockchain will end fake news, fake bots, fake influencer accounts. This will save advertisers hundreds of millions of dollars.
Perhaps the greatest benefit of blockchain is the level of trust that it will bring in any dialogue with consumers. With this in mind how do you build your business? Traditional branding or by leading a movement where your employees and consumers can participate in a way that builds pride, conviction, creativity and motivation. And by eschewing traditional advertising manipulation. Actions that leverage the technology will create brand trust and generate the feeling of a forward-thinking and friendlier organisation.
Blockchain can also mean disruption for social media where you and me will be compensated for our content and data in a win/win for both parties rather than the current system where we give it all away for free and the social media companies make all the billions.
The writer is founder of the movement marketing firm StrawberryFrog, based in New York.
