{"id":176297,"date":"2023-10-18T07:51:46","date_gmt":"2023-10-18T02:21:46","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176297"},"modified":"2023-10-18T07:51:46","modified_gmt":"2023-10-18T02:21:46","slug":"why-brand-consistency-matters-and-how-web3-companies-are-failing-to-deliver-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/why-brand-consistency-matters-and-how-web3-companies-are-failing-to-deliver-crypto-news\/","title":{"rendered":"Why brand consistency matters and how Web3 companies are failing to deliver – Crypto News"},"content":{"rendered":"
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Michelle Yeoh has stiff competition for her deserved Oscar as the multiverse-hopping Evelyn in one of last year\u2019s hottest movies. Web3 firms are also creating an \u201ceverything bagel multiverse,\u201d attempting to be all things to all people, all the time. But, the reality is that we humans have simpler tastes.\u00a0<\/p>\n

Humans have developed the intelligence to hold onto many facts at the same time, even when some of those facts can appear to conflict with one another. However, as much as we love to consider ourselves rational, fact-based creatures, we tend to respond more to our own base needs than cold, hard facts. Gallup research shows<\/a> that up to 70% of variance in consumer engagement is driven by emotional rather than rational factors.\u00a0<\/p>\n

However, our emotional psychology also works differently than when processing facts. Humans are far more effective in handling our sentiments when we experience them in a way that\u2019s comprehensible and digestible. If we describe something as an \u201cemotional rollercoaster,\u201d it\u2019s because it\u2019s a short-lived exception to our relatively stable norms.\u00a0<\/p>\n

Companies that excel at branding understand this need for consistency and stability and know how to leverage it for maximum effect. Even the greenest startup founders know that most well-used branding practices are rooted in the principles of psychology.<\/p>\n

Yet, even the most experienced companies in the Web3 space still frequently fail to leverage the real value of this knowledge. There\u2019s a difference between understanding how to use branding and marketing messages to invoke a particular response and doing it in a way that\u2019s coherent and consistent enough to leave a lasting impact.\u00a0<\/p>\n

Why consistency matters<\/strong><\/h3>\n

Consistency is key to branding. Or more specifically, a lack of consistency is what kills a brand. Household-name brands gain recognition through endless, timeless repetition. Although the style, tone or delivery of the story may change over time, we see the same underlying messages with the same promise delivered consistently \u2014 every single time. In this way, the brand becomes recognizable and memorable.\u00a0<\/p>\n

Eventually, the brand stands apart from the competition in people\u2019s minds. Rather than a cola-flavored beverage, you automatically ask for a Coke. Rather than searching online, you Google. When you see an unrealistic image, you\u2019ll wonder if it was Photoshopped.\u00a0<\/p>\n

Not a product, a brand. Not even a noun or name \u2014 instead, a verb.\u00a0<\/p>\n

At this point, the relationship is one of unrivaled trust and credibility. The mind doesn\u2019t hesitate \u2014 the brand is<\/em> the product. It\u2019s the go-to choice in any scenario because it\u2019s known, trusted and valued for its ability to deliver.\u00a0<\/p>\n

Consistency isn\u2019t just about logos, colors and the right words. It\u2019s about invoking the same emotional response every time. In creating that response, the brand isn\u2019t necessarily looking for a sale or even generating a lead. It\u2019s about leaving an indelible impression on the brain. It\u2019s a brand<\/em> in its more literal meaning \u2014 a mark.<\/p>\n

Think of Volvo and its unwavering messages of safety and security. Those messages aren\u2019t pitched to little kids who dream of becoming F1 drivers. They aren\u2019t pitched to newbie drivers trying to find the biggest engine on the tiniest budget. But when those drivers finally need the safest vehicle on the road to transport their own precious cargo, Volvo is a go-to brand. It was alwaysthere.\u00a0<\/p>\n

The brand became synonymous with safety, and that\u2019s the goal.\u00a0<\/p>\n

How Web3 is failing to deliver<\/strong><\/h3>\n

With the benefit of 25 years of branding experience and a decade in blockchain, I\u2019ve observed that most Web3 firms aren\u2019t delivering on brand consistency. My firm recently published some proprietary research analyzing<\/a> brand data from centralized crypto exchanges.\u00a0<\/p>\n

Based on an analysis of the ten top-performing CEXs, we found that:\u00a0<\/p>\n