Getting to why

Big brand thinking in the blockchain space

Many of us have seen the now famous Simon Sinek talk about how the best brands are purpose driven. His main point is that most organisations are good at telling you what they do and how they do it. But very few are good at telling you why they do it. Yet the brands that have a good brand story — think Apple, Nike, Tesla — have perfected the why. Watching his talk, it can sometimes seem like this big brand thinking hasn’t reached the crypto space yet.

In the ever-changing world of blockchain, how often do we actually think about brand purpose (nevermind brand storytelling)? Not very often, we’re guessing. But when it comes to creating a distinctive brand in a crowded space, it starts to become really important. It’s something that’s been on our mind the past few months at MyBit as we’ve been putting our marketing plan together.

For us, we’ve made good progress on the what and the how. We’re developing an entire ecosystem that lets anyone invest in IoT devices. From robotics, automated vehicles and 3D printers to drones, cryptocurrency ATMs and miners. So that’s the what and how covered, which got us thinking about our brand story — and how to tell it.

We started with our core beliefs. Through talking with our team and community, we know what makes them tick. What drives all of us is a belief in a new way of investing. Harnessing the power of blockchain technology, we’re creating an open, fair ecosystem that’s accessible by all. For centuries the industrial means of production have been owned by a select few; now we’re decentralizing it. So much so that we believe people don’t have to fear the automation that’s affecting industries across the globe. We see it as an opportunity — if people are able to invest in it.

We realized that the reason why MyBit exists is to open up these traditionally closed markets to the 99%. To give them a chance to invest in an emerging $11 trillion industry. And to redefine the way people generate income, letting them follow their dreams.

It’s sounds pretty simple, right? Which is why we want to keep it that way.

When it comes to marketing in the crypto space, it’s easy to dive into the complexities of the tech or the platform. Some projects actively benefit from this smoke and mirrors, but the best ones have a clear proposition. That’s why it’s our belief that great storytelling starts with stating your purpose clearly and simply. After all, isn’t blockchain complicated enough already?

From there you can build a brand story around your purpose. For us, we’ve been building a dedicated team to tell this story through blogs and articles. We comment on everything from IoT and smart cities to climate change and corporate structures, each with our own slant and vision of the world. Each one is rooted in our purpose.

We’ve just launched our new brand film. It’s an inspirational tale, setting out our vision for the future — and how MyBit hopes to change the world. To bring it to life, we invested serious resources. We partnered with Video4commerce, a leading production company from the Netherlands, even flying them over to Switzerland to meet the team. There we brainstormed ideas, making sure the director truly understood MyBit’s culture and mission. The high production values show just how much we value our brand story.

What we’re most proud of, however, is that the film represents — and communicates — why we do what we do. And while many mainstream brands have mastered it, we’re happy to be leading the charge in the wonderful world of crypto.