Understanding the Importance of Emotional Resonance in Marketing: A Comparison of Traditional and Web3 Industries
Summary:
This article highlights the discrepancy between how blockchain and crypto projects market themselves compared to successful real-world brands like those in the automotive industry. While traditional industries effectively utilize emotional resonance in their branding and product presentation, the emerging Web3 field often focuses too much on technical points with limited public appeal. The discussion emphasizes the importance of understanding customers' emotional needs instead of prioritizing the technical nuances for maximum brand impact.
Observing the Web3 sector through a marketing perspective, it becomes apparent that there is a major disparity in how blockchain and crypto ventures promote themselves compared to successful real-world brands. Let's examine the automotive industry as an example. What messages do car manufacturers communicate to their audience? A few highlights from top car brands include Volvo's emphasis on freedom, sustainability, and safety; BMW promotes design, luxury, and sustainable mobility; while Peugeot embodies irresistible, fun, and elegance. The advertisements' visuals mirror these themes, with open roads signifying freedom, green landscapes symbolizing sustainability, bright colors indicating fun, and sleek and shiny exteriors representing luxury and timeless elegance.
In contrast, certain narratives never feature in car branding or marketing channels, such as the utility of the car in daily life, the vehicle's security features, the company's governance structure, how shares are distributed, or comparison of cars to previous modes of transportation. Other often overlooked factors include fuel market volatility, the ease of repair and accessibility of parts, and the capability for third-party enhancements.
The discrepancies are clear: one industry fully grasps the symbiotic relationship between product proposition and branding, using it for optimum emotional impact. The product design aligns with the brand image the company aims to project, with consistent messages across all platforms to awaken the same emotional reaction and fulfill the same set of human needs. Conversely, the emerging Web3 field often stumbles as it tries to highlight technical points with limited public appeal. A brand's emotional resonance cannot be substituted with reasoning about superior technology or governance.
To understand what attracts customers, identify what drives them to make the emotional commitment. What needs are they trying to satisfy with your product or service? The answers can be found in our data-rich world through effectively conducted market research. Understanding your existing customers' likes and dislikes provides valuable insights into what makes your product attractive. For those preparing a product launch, conduct targeted surveys and experiments to gauge the public's reaction.
But the answers lie deeper: understanding the emotions behind customers' decisions, their response to your brand and how it makes them feel, unlocks the key to meeting their needs. Identifying these emotional rewards is the formula to connect with your audience.
In conclusion, for Web3 builders, the tech nuances should remain behind the scenes. While there will be a small subset of enthusiasts interested in the technical details, the majority don't care about how it works, but how it fulfills their needs. Thus, the emphasis should be on consistently delivering the desired emotional response through branding. Despite many claiming their decisions are fact-based, emotions play a significant role. Automobile makers have grasped this concept and so should Web3 projects.
The co-founder and chief relevance officer of THE RELEVANCE HOUSE - a branding and marketing firm focusing on blockchain and Web3 - shared these insights. The article was initially published through Cointelegraph Innovation Circle, an esteemed group of senior executives and domain experts in the blockchain industry, advancing the future via collaboration, connections, and thought leadership. The personal opinions stated do not necessarily mirror those of Cointelegraph.
Published At
11/14/2023 1:00:00 PM
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