Tune in for the blueprint to creating regional communities successfully. From enchantment to education, dispelling myths to delivering custom built messages , Shivangini Agarwal from Scallop tells us all. Certainly a masterclass with a roadmap for community building in one of the worlds largest (by population) countries. Tune in today.
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Transcript
Shivangini Agarwal - Scallop
Participants:
• Jason Fernandes (Co-founder of AdLunam)
• Shivangini Agarwal (Branding & Marketing Lead Scallop.)
JP
Welcome to this episode of Diving into Crypto, the show where we bring to you everything about web3 being hosted by JP from AdLunam Inc. And today we have our special guest on the show, Shivangini Agarwal, who is the lead and branding manager at Scallop. What is it that they do and a little about her background we will share with you in a few minutes. And before we officially start the show, I'd like to remind you of a few things. Views expressed in this program belong to that of the speaker and is not to be construed as financial advice. This is, of course, a show that is meant to be for education purposes only.
JP
In case for whatever reason, the gods of Twitter decide to lock us out of the room, look out for our handle at AdLunam Inc. We will come back with a new link in case we get cut off. So don't panic, don't lose your heads, don't go crazy. We're going to be right back till we are done with the show. All right, so ladies and gentlemen, if you've heard all that, give me a reaction, change your check out the reaction buttons that are there below. I've selected blue as the flavor of the day so you can do the same. Remember, just press the heart and morticon and you can choose the color that you'd like. There, we perfect. Okay, fantastic. So welcome Shivangini, to the show. Thank you so much for being here. Appreciate you taking the time to share some time with us.
Shivangini
Hello and hello to everyone and thank you so much for having me here. Really looking forward to talking to everyone.
JP
bout our speaker today. Since:JP
And I have one question, what made you think that web3 was the space to be for me?
Shivangini
I've been in the space since:Shivangini
And the objective of this industry overall is to solve problems, solve very basic financial problems, which people probably didn't even know that exists. It's all about community, it's all about decentralization. And we solve a problem statement every day. Like, every day is kind of an adventure in Web3.
JP
Fantastic. I'm certain that's something that has been the core ethos of Scallop as well. For those of us in the room that don't know much about Scallop, could you briefly tell us about the problem that it solves and the wonderful solutions it brings for everybody?
Shivangini
Definitely. So, Scallop, like, in a line, I would say that it's the world's first license and secured banking infrastructure, which provides you a lot of innovative products. And those are built on a chain. So we have Scallop chain, which is our chain, which helps to empower retail users as well as business customers. And the unique thing is it's a regulated blockchain. So you must have heard of a lot of chains, a lot of blockchains across. Like, there are multiple startups, multiple brands trying to do that. But what we are offering is regulation and licensing. So right now, what is missing in a lot of brands or a lot of companies that try to come in and create solutions for the Web3 industry is regulation, is licensing a lot of products which people can trust. So Scallop is falsely trying to solve that problem where you think that, oh my God, are my funds safe or is it a product that we can trust in?
Shivangini
Or what if our money gets lost? Can we retain, you know, solving all these ifs is something that Scallop provides, which is why we are licensed, we are secured, and we believe in regulation. And the products that we are offering is mainly trying to solve the problem, which is the gap between the traditional financing and the crypto and blockchain side of things. Like, just imagine you go to an ATM with your crypto card and you're able to withdraw cash out of it. So something as simple as that, because right now, if you want to convert your crypto to fiat, you have to look at the market rate. You have to sell your crypto, convert it into a fiat currency, and then you use that currency to withdraw it from your account and that is how you're actually able to use it. So this long and tedious process is something which Scallop is trying to solve with all the products that they are bringing to the market.
JP
Fantastic. Fantastic. And I think you guys have hit the nail on the head because that is, of course, the core part of any of the businesses out there today. There is one entire wing that says we don't need no regulation. Right? And then the other part that says without the regulation, look at what's happened with Celsius, look at what's happened with FTX, look at what's happened with Three Arrows Capital. And these are just the tip of the iceberg, we know, right? Definitely. It's brilliant. That's exactly what your core values are. Because we need trust in the industry when it comes to more mass adoption is only going to happen when that is addressed. And so that's certainly a good point to have focused on, to bring up a Web3 company.
Shivangini
Yes. Because the community is getting smarter and people are becoming aware. So you really need to pull your socks up and be sure about what you're doing.
JP
Exactly right. And that seems to be the direction where the industry is heading. But this being said, I have to ask you, when you started off, you said that the first place that you started off was in a crypto company, right. Your first role that you got into the job market, that's where you looked at. Now, I'm certain you had a lot of options and I'm certain that there would have been multiple spheres of influence of yours that told you why crypto do something else that is more mainstream. So what was it for you that decided to say that made the decision for you that said, no, Web3 is where I want to be?
Shivangini
o, like you mentioned that in:Shivangini
So I thought that why not let's go and explore and figure out how it's going to work. And Tashwood, I'm really glad that I made that call because this is something which is going to go big, I'm sure.
JP
Well, I'm certain it is, and hats off to you. But I'm glad more so that you've decided to make that decision like the rest of us that are in the room, to be in the Web3 space and contribute as you have. Right. So that's absolutely brilliant. I want to pivot back to something that you've said a little earlier. You're welcome. I want to pivot back to something you said earlier about when it came to understanding a community that was completely raw or that had a complete misconception about the Web3 space as a whole. But in particular, when you say that in a community where, and this is quite present in a lot of spaces, right, there are certain countries that you can't even breathe the word crypto, right? If you say bitcoin, they throw you in jail. Of course, I'm exaggerating, but you see where I'm coming from.
JP
But to be able to change a mindset of people, to get into crypto, to be able to change that mindset where the community is, tell us a little about that. What was it like for you?
Shivangini
So, honestly, it needs a lot of conversations that you need to have with the community. You need to keep it very simple. No jazz words and no technical words would help. Because you look at it from the point of a consumer. If you tell someone who has not even heard a word, you're telling that person to invest or put their hard earned money into some asset, obviously a person is going to think obviously that person is going to research or be confused or be scared. So you need to think from that point of view that you need to make the other person understand, first of all, what is it trying to do and what is the kind of problem that it is solving and what is the future of it, right? We have to keep it very simple. No big words or big promises it's ever going to help.
Shivangini
So when I started, when crypto was not that known in India, the first thing that was very important was awareness, to let people know, first of all, make them familiar with the word crypto and blockchain. That was the most important thing because when you said crypto, people just knew bitcoin. They did not know that there are other currencies or other products or other things that exist in the crypto world altogether. They did not know, blockchain, they just knew that, okay, there's crypto, it is a scam. There's bitcoin whose price increases and you earn money. This was the basic mentality of people and gradually we aimed to, first of all changing that mentality altogether, bringing awareness through collaborations. Now there were major players in crypto at that time as well. There were influencers, there were media houses, there were other brands who were trying to solve this problem.
Shivangini
So collaboration was another key that helped in bringing that awareness that all the people who are trying to solve the same problem, let's get together and let's spread the awareness. So it started with doing a lot of events, a lot of community driven campaigns and spreading the word all out and going all out to kind of explain everything to everyone.
JP
Well, I can imagine that must have been fascinating and challenging at the same time because you mentioned that this was an Indian community and if I understand this correctly, the financial investment community in India is hell bent on FDs at most mutual funds and then they go to the stock market, right? So it's in that order of debt instruments as opposed to something that is high risk, high return. So that must have been quite a challenge for you to bring them over to the other side, if I may, to say that you can also invest in things like this. So what was that like? What were those conversations like?
Shivangini
So there were different categories of personas of users. I can say one is the youth or the gen z we call. So they were more into how much money will I make? They are risk takers, they are willing to lose. They're like, okay, what if I make money? How much will I make? That sort of a mindset was there. When we come to people who are already into banking and very traditional finance side of people, they are not at all risk takers. They're very conservative, they are very analytical. So to them you had to explain like what are the risks involved and how will the money be safe and what are the products? You need to talk in numbers that this is the percent of risk, this is the percent of money you'll make and this is what happens. Why is the industry so volatile?
Shivangini
How is the market like and things like that. And there is a middle generation of that who are very confused, who have the FOMO. You're missing out, like why are we not in there? And we need to be there, who want to be cool and very social. So there are different personas. So the most important thing is to understand these personas as to what is the problem that you want to solve for them. And once you realize that problem, that is the conversation point with them. And that is the way narrative is very important in crypto and in web3 industry. Like what you say can be predicted or can be taken into multiple ways and directions.
JP
Right.
Shivangini
Narrative with the right persona is very important.
JP
I agree with you. The narrative is of course the most important point because that's where the tipping point for somebody's decision comes in. When you talk about the Gen Z being I don't mind if I lose the money, but if I can make this much, that's a bet I'm willing to take. Right? And at the same time, it's brilliant that there's an understanding of a community here, because community is so crucial to web3 projects. And that adoption, being able to convince them to be able to do that is one of the challenges that all of us in the industry face, of course, right when it comes to this part. But of course, at the same time, if we talk about community as just a community of adopters visa vis a community of any of the other stakeholders that can be there, right. How do you see these aspects of community being crucial to a project?
Shivangini
Right. So the crypto community, I must say, is very different and is very smart. They're very curious and they question everything. That's the best part. If you try to fool the crypto community, it's not that simple. If you see other communities, they're not very vocal, they will reach out to the support and try to solve the problems. But crypto community or web3 community, so the first, most important thing is decentralization. So the concept of bitcoin or blockchain or crypto was mainly decentralization, which is giving the power back to the community. In web3, the power lies with the community. So community plays a very important part in the entire industry and they are very engaged. Like even coming to Scallop community, if you go to our Telegram channel, every announcement we make or every product that we launch, they are so interested to understand what is the product about, how can we test it, how can we join and what is the objective of it.
Shivangini
The community is, first of all, very engaged and very informed, which is the best part of it, that's the fun part of it. You get to talk to them every day. The most important thing is you need to be very transparent with them, like just giving them fake promises or over promising things wouldn't help. Right. The power is literally in the hand of community when it comes to Web3 and building that community, keeping them engaged and listening to them is very important because in the end, community is the one that drives the industry.
JP
True community is and that being said, what is your take on, for example, a community of partnerships, a community of maybe additional stakeholders that contribute to growth on that front? Just broadly.
Shivangini
I would say collaboration is one very important thing to grow in this industry. Like even at Scallop we run ambassador programs where we tell people to enroll for Scallop Ambassador program. We have ambassadors on board and they have been doing a great job. They are there to talk to you. They ask you questions and they go all out. They promote you, they talk about you and they are very honest. It's not that because you're telling them that you say this, they just won't go out and say it. They'll ask, they'll try to understand, they'll try to know the reality and then they'll talk about it. So collaboration and community go hand in hand. Apart from that, partnerships are very vital. Like how we are connecting today on Twitter Spaces. It's kind of trying to help each other and trying to get our communities together as well so that everyone understands how these products are built and what goes behind the scene and how this industry is helping all the major players in the Web3 world.
Shivangini
So collaboration, partnership is something which is a fun part of it as well. And I must say that unlike other industries, people in Web3 or brands in Web3 are very open to partnership and very positive about it as well. They're always looking forward to connect to others, they're always looking forward to talk to others, exchange ideas, test out products for each other, which is really motivating.
JP
I've found this being one of the underlying factors in such an unregulated industry, to be honest, in many ways. Right. But at the same time, the openness, when it comes to being able to have tie ups or to have collaborations, it seems to be more open than it is with any other industry, especially ones in finance.
Shivangini
Yes, everyone is helpful and very open about it. It's really cool to have such an industry.
JP
I agree. And I hope that attitude continues as long as this industry goes because that certainly seems to be one of the foundations over the last decade in terms of mass adoption, in terms of being able to strengthen projects and in terms of also adding value and utility.
Shivangini
Definitely.
JP
Fair enough. Okay. That being said, we've spoken a little about community Shivangini, I also want to pivot a little bit about at Scallop when it comes to some of the projects that you'll work with, some of the projects that you'll collaborate with. Right. What are some of the things that you look for to have these successful collaborations?
Shivangini
Some of the most important things that we definitely look at is whether the partner that we are associating with is licensed or regulated or is doing something that is making a difference. So that is one thing that we definitely look at. We do our research, we talk to the founders, we try to understand their vision, their long term plans. Because when you associate with any brand or you partner with anyone, your name kind of links to them. Like if anything goes wrong, it's not just them who are affected it's even you who is affected as a brand altogether. So exactly. It's very important to understand their long term plans, talk to their founders, try to understand what they're trying to do, and also understand their vision around their brand as to what they're trying to achieve and how do the day to day things function.
Shivangini
I would say how well interactive is the team, how do things happen within the organization? Even when you invest in a cryptocurrency, these are all the things you look at, you do your research, you try to go and stalk their founders, say on Twitter, on our LinkedIn to try to understand where are they from, what did you do? And you try to read their tokenomics. You try to understand what the use cases of the tokens. You know, it's similar to investing in a cryptocurrency. If you're trying to link your name to some brand, these are some very important factors which come into play, especially when you partner with any brand. So, for example, Scallop has partnered with Ledger, so we provide wallets to our users, and for that we have partnered with Ledger. Now, when it comes to Ledger, they're a very well known name and we have talked to the team and they're very passionate about what they're doing.
Shivangini
These brands, when they collaborate, like I mentioned, it's very important to know the team, to know the founders, to have day to day conversation with them, right, so on and so forth.
JP
Yes, well, I was about to ask you for your method, how do you pick the best ones? And you've spelled that out for me. Thank you for answering that question already. Right, okay, fantastic. So I know that this may also be something that you all have been around for a while. We know some of the same people from Scallop, so I know that you guys have been around for a while. And I'm certain that this journey, because especially over the last year, has been rocky for most projects. Right. I don't want to put you on the spot, but I do want to understand from your journey because I'm certain that these are examples that our audience in the room can learn from. I see a lot of not just VCs who are here. I also see representatives of various other Web3 projects in the room at this point, and certainly a learning for them as well to be able to understand some of the best cases that have evolved out of their journey, but at the same time, some of those that may have not been as fruitful.
JP
I'm wondering if you could talk a little about that. And you don't of course have to be specific with names, but if you could tell us about some of your successes and some of your learnings that have come out from this journey.
Shivangini
Sure. So the most important thing is the team, when the situations get tough or when you're facing. Like the crypto market is in fact really rocky right now. It's going up and down. There are bulls and bears everywhere. So in such scenarios, the most important thing or one thing that supports or is a foundation is the team. So give a very simple example. Like there was a product that we wanted to launch and were very sure that the product is ready, it's all set, we'll go out and we'll do a launch and all of that, but it's technology and you never know what can happen. So we thought that, let's do a last testing. And the best thing about the team is you cannot just expect a quality analyst or a tech person to test out the product. In startups, the beauty is everyone and anyone is available to help out to test.
Shivangini
So be it a person from, say, designing, be it a person from support, or be it a person from marketing team, everyone sits down together, everyone tests it out, everyone brings out their opinion very freely. They're very outspoken when it comes to feedback. They say that this is not working or that is not working, please change. There can be small mistakes like spelling as well, right? So one of the learning in this journey is your team has to be very strong and very enthusiastic. You cannot look at the time and say that okay, this is beyond my working hours, sorry, I'm not available. So that cannot happen in crypto or in the Web3 industry because it's a 24/7 market. It never starts, it never closes. So you have to be there on your foot. You have to be there to make things happen. Everyone sat down together and we made sure that there were no flaws or nothing that was not working and were able to successfully launch out the product.
Shivangini
So one of the most important learning is that your team has to be very enthusiastic and driving towards the same goal, right? So that is something that is super important and it has to be there. It cannot be made an exception or something. So one is that and a second thing that I've learned is never over promise. Like there have been situations where, say, the community asks that when are you going to do this or when are you going to make something live? Or what is happening in so and so case? And just say that okay, it's a few months down the line, we'll soon solve this problem or we'll soon bring something for you. So never over promise or never commit a date. I would say just be transparent to the community and just tell them that this is what is happening in the team.
Shivangini
These are all the testings that we have cleared and this is how we plan to launch it. So honestly, when you be that transparent and when you be vocal about what all your team has been doing and how they have been working. The community understands, your customer will definitely understand that at least they're working towards something. Probably some might be frustrated or something like that. But when you're being honest and when you are, this is how the BTS evolved behind the scenes. This is when that concept came into picture. Let the customers know what's happening behind the scenes, so then how much hard work is being put and how the products are being built. So when you do that, it actually helps. One of the thing that has helped scalp a lot is our founder Raj. He at least tries weekly or at least twice in a month.
Shivangini
He goes online in our Telegram group. He hosts AMAs and those video AMAs. Like he's there talking to the community. He gives all the updates. What's happening in Scallop and what we have been doing, even what went wrong. He is very transparent about those things in those AMAs, and in the end, he opens for the community to ask questions. This is one thing which has helped us a lot in gaining the trust of the community, because you don't talk to a CEO of Google every day, but you talk to a CEO of Scallop anytime you want, because that's the beauty of this industry. That's the power the community has in this industry.
JP
Of course, I think that's absolutely brilliant, and I think that's of course, something that more communities should do. I'm not saying that it's not done, but I'm saying that more projects should do something like that. And one of the reasons, of course, as you spelt out, right, the connection that you feel from a person in the community with the person at the other end at the project or the other end at the company, bridging that gap is of course critical for you to have a community that's out there. The second thing I've taken from what you've said is, and I want to put a spotlight on this for all of us to realize, is the fact that we are honest about what exactly is happening, what's gone right, and also, more importantly, what's not gone right and what we're doing about it. And I think that these are some of the key parts that helps foster trust.
JP
And the more that you foster trust, the more you foster loyalty. The more you foster loyalty, you know that you have a community that's with you and that's invaluable.
Shivangini
Definitely take an example of, say you book a flight and the flight suddenly gets canceled. And they say that there are some technical issues due to which we had to cancel. Now, that's not the answer. You tell us what exactly happened so that we have the right to know what happened, because we have planned a lot of things around that journey.
JP
Right?
Shivangini
Just saying that it's a technical issue never is the right way to go about it. Just let the community know. That so and so happened and our team is working on it. And this is when you'll get answer or this is when you can expect it to be resolved.
JP
Spot on, really help. Absolutely. I'm tying this back to what you've said before, right? You have a community that's more curious, that's more interested and more importantly, they're more empowered today. So they are seeking more information and giving them maybe just a broad overview is no longer enough to appease, to ally their fears, to be able to answer the question for them. They do want more information because you have a more empowered community.
Shivangini
Definitely, yes.
JP
Okay, fair enough. Fair enough. Okay. So Shivangini, that being said, right when somebody approaches you and I want to also lead this back to talk a little more about the community because I think that your insight is fascinating, especially where the Indian landscape is concerned when people tell you that, okay, the crypto market is so volatile. It's a ponzi, it's a scam, it's everything that you and I know that it's not. Right. Most of us inside this room, those that are in the industry, have begun to understand at least where the financial aspect of this industry lies, what that volatility is, what is causing it to some level. What are some of the answers you give to people when they come at you with that question? Because I can imagine a lot of people are telling you this in the position that you are.
Shivangini
Yes. So first of all, it's necessary to explain them the concept of blockchain. Now, crypto is not something, it's not just an asset that was made for you to invest money and earn. It is a different concept altogether that was built to solve the problem of the financial power lying with one person or one organization. So it's necessary to first of all, explain the concept of blockchain on which the crypto is built, right? Understanding the foundation is very important. So I initially try to explain the foundation and the technology behind crypto that is blockchain and coming to legality and what's happening. So it's very important to show how other geographies or other countries are trying to adopt it and how it has helped. Like there is Dubai, which has accepted crypto very positively and there are licenses that are being given to brands organizations that are starting their crypto startup or something like that and how their economy is evolving because of accepting crypto in a certain way.
Shivangini
So you definitely need to give such examples to show how the entire economy is growing because of a simple technology which is blockchain and an asset which is known as crypto. And not just for web3 industry, but even overall how other industries are trying to blockchain. Like there are certain even government agencies that are using blockchain to payrolls. There are other countries which are using crypto to pay taxes. So sooner or later, all the other industries or all the other technologies will tie up to blockchain. Because the objective of blockchain is to simplify everything for you is to automate a lot of things, is to remove those errors or those technical flaws that come in, and mainly to digitize everything so that there is transparency. Like in a blockchain, when a transaction happens, you can see from where it happened, what address it went to and what exactly is happening.
Shivangini
So that is one very important and a unique factor of blockchain. So I try to explain all these things whenever I talk to anyone or even when someone comes and says that a lot of scams happen and a lot of people try to fool others, everything has a bad side. I'm not saying that crypto is all good and it's all fun and nice. Everything has a bad side. It's up to us how we research, how we make the call, how we analyze any particular project. But crypto or Web3 industry overall is making a very powerful impact to the economy. Like even in India, like few days yesterday there was a budget session that happened and everyone in India was curious to know what it will hold about session? Will the session talk about crypto? Are they going to talk about taxation on crypto? Now, this itself is a very positive side.
Shivangini
Like people are trying to understand how government is going to take it and what new things it's going to bring. So I would say that slowly or gradually, the industry or the common people are understanding crypto, understanding blockchain. But I think this is the kind of narrative that really helps when you try to talk to people or when you try to explain them that it's not legal and this is how it is helping and this is how you should read about it or you should talk to people about it.
JP
Fair enough. Of course, it does seem an enormous task.
Shivangini
It does. But in the end, there's always a shorter way to do it. Just say that I invested in crypto, like four years back and business money is something I made and I'm sure they'll hear what next. You have to say.
JP
Well, more power to you, Shivangini, about being able to do that. I know that it's certainly something that's a challenge, especially to explain to people. It brings to mind one of our guests that we had on the show, Michael Smorenburg, who wrote this book In Code We Trust, right? And his objective of writing the book was to be able to explain to grandparents what crypto is all about. And through that he cast a light about how do you explain to them in the most simplest form. And I'm tying that back to also what you've said about Gen Z saying, hey, you know what, I don't need to know too much about it. Just tell me what is the percentage that I can make what's the loss that I would incur.
Shivangini
Yes, and like you rightly said, it's very important to explain them simply. And that is when these marketing campaigns come handy, like if you see multiple brands doing such innovative and creative campaigns, doing a television ad explaining crypto, going sponsoring F1 racing and explaining crypto, so people have gone all out and brands are doing what not creatively to explain very simply what crypto is and what blockchain is. So that is a very interesting part about the industry as well, to explain even a twelve year old what crypto is and how it's helping.
JP
Yeah, I can imagine though in my experience at this point, I'm seeing more twelve year olds getting into web3 development than I would ever have thought possible. So true, right? I mean, it's almost as if they started around eight years old just deciding that, hey, I want to build robots or I want to do something in AI or even with drones. And then the next thing you know, they're coding and then you have people that are making DEXes and various other web3 solutions.
Shivangini
Yes, it's really interesting and it's really innovative, I would say.
JP
Well, I know that this is going to continue. I'm not going to hope, I know that this is going to continue. And I know that at some point of time, just like the trend that most cryptocurrency took the industry, I'll just say the industry as a whole, instead of specifying one particular segment, the way that the industry took off was low adoption, low adoption, and then all the way up, remarkably. And it's when it hits that tipping point and spikes you have wanted to be in from before. So in the same way, I think that the rest of the world, because considering that there's a very small percentage of the entire global population that's in it, at some point in the future, that's exactly what's going to escalate. And that's kind of what most of us are waiting for.
Shivangini
Definitely. Like a very simple thing. When someone asks me, when should I join crypto? When should I invest in crypto? The answer should be yesterday. You should have already done it. There's no point in asking because this industry can do something new every day.
JP
Spot on. I agree with you. It's like the old adage that says the best time to plant a tree was 20 years ago, the next best time is now.
Shivangini
Exactly.
JP
So, fantastic. Great. Okay, Shivangini, I want to pick your brain one last thing before I open up the room to questions from the audience. And for those of you that are inside the room, you can tweet in your questions that you have for our speaker today at AdLunam Inc. Or to the speaker directly, and we'll try and answer them before we end the show. So the question I have, of course Shivangini is here, right? And this is something that's right up your alley. Building a brand is, of course, something that is not a short term exercise, it's a long term exercise. There's short term goals, medium term goals, long term goals in a challenging market that you're in the Indian landscape. Right. What is your approach to go about doing it? And what are some of the things you've seen that have worked well and haven't?
JP
I'm not asking you to divulge all your secrets again, though I'd love to. But the point is I want to help the audience get an idea about the landscape here and how they can try and achieve the success that you've had.
Shivangini
Sure. So, to start with, it's very important to explain it in their language. There are a lot of cultural differences that are there globally and even in India. So if you like South Indians, they have a very different mentality. There are Maharashtrians that are very unique in their own way. Even when you go to Global, there are Germans that have a different outlook on finances. There are Americans that take finances in a different way. The take is very different. So you need to do regional campaigns and you need to talk to them in their language, especially when it is brand building. So how do you choose a brand? Like, you see if you can trust that brand. Second, have you heard about it before? And then you go and try to read about it and try to read the reviews of it. Has it been a positive experience for someone who has already been there?
Shivangini
Or are they doing something for the society?
JP
Right.
Shivangini
These things are very important for that. As I mentioned, narrative is very important. So what has worked is regional campaigns or I would say communicating in their mindset.
JP
Right.
Shivangini
So brand building is mainly about creating a perception or trying to change someone's. So, like, I'll give you a very simple example. There's an airline in India which is Indigo. Now, whenever you sit in that flight, they always say that we are boarding on time, our flight is on time. They keep on hammering on that word on time. Now, what they are doing indirectly is they are trying to leave that impact in your mind that this airline is always on time because you kept on hearing it. And they're doing it very subtly while communicating it through emails or while you are in the flight, or through their employees, or whenever they serve you food and things like that. Brand building is not just about doing it once or telling your users that this is there. You have to continuously, consistently do it and also prove it through your actions.
Shivangini
You cannot just say you definitely have to prove it through your actions. And the product plays a very important role. Like your product needs to kind of prove what you are saying. Like, if you say that we are giving you a seamless experience. We are making the journey smoother for you. So you have to pick that one USP that you are providing and you have to make sure that happens. Instead of committing ten different things that we also fast, we are also cheaper, we are also smooth. Instead of committing those ten things, pick one thing that you are unique at, that you do the best and then keep on hammering that and trying to prove it. Like try to make that as an experience of the user, right? So that is something that really works and in the end it will sit in the mind of the customers that this is what they do.
Shivangini
So that is one thing I've learned so far and I've seen it work that you keep on making your product better. You continue to consistently communicate through your product. You make sure that your product communications are very on point. Like Acknowledgment is another thing that is very important. Like you tell a user that, okay, we are running this campaign and to participate in this campaign, you fill a form. Now a user fills that form. Now after that, he hasn't heard anything from the brand. He's clueless that I fill this form. What next? So it's very important to keep that continuous communication, like the person filled the form. You send them a message automatically that thank you, we have received your response, we will get back to you in say, two business days.
JP
Right?
Shivangini
So these are very small things which might seem very basic, but they are very important. Especially when you look at from the user's point of view or from the customer's point of view, that consistent communication, staying in touch, explaining them in their sort of language and putting yourself in their shoes. This is what slowly or gradually builds the brand.
JP
Understood? So I totally 100% agree with you that's branding 101, it's one of the things that we take for granted, right? Focus on the narrative and your core values. Make sure that you've got that one key point that people associate with your brand and that is the one thing that they should always recall. And the second part, like you said with the email, it's something that we take for granted very often, but most of us don't do it right. And it reminds me of how J. Edgar Hoover started the FBI, if I'm not mistaken, when it came to investigation. It was really just about having that process, trusting that process and executing that process that leads to success.
Shivangini
Yes, very on point.
JP
And I think that more of us in the industry should remember that exactly as you've said, that just following through with those small things brings about that sense of trust, of loyalty and of course of continual engagement with your community at large.
Shivangini
Yes, especially for startups. When you start small, you have very small community and if you do not give them the right or a memorable experience, it will take more time for your community to grow bigger because in crypto, everyone talks to each other. There is nothing that can be hidden or you cannot create a sort of bubble for a longer time. Eventually people would know and the bubble will burst. So especially when the community is small, it is very key to keep the communication right, keep it consistent, so that when it gets bigger, you are able to follow that through. It just doesn't become chaotic or just falls apart.
JP
Exactly. You're spot on with absolutely. Absolutely. So Shivangini, I know that we're coming close to the end of the show, but I really want to ask you this question. You shared with us your personal journey in the branding and marketing arena. You've shared with us your journey, having started out with crypto, of course, as your prime industry, but also having worked with startups, and a lot of insights and thank you for that. You've shared with us a lot of insights about how we can all take back something to engage our communities, to be able to develop that loyalty, to be able to ensure trust and stay honest in an industry, of course, that is so transparent and again, something that we take for granted so often. But I think the question that I want to ask you, of course, is to put the spotlight on you for a moment, right?
JP
And through all of this, I really want to know what is your personal philosophy? What makes you get up in the morning and say, this is the way that I want to do what I want to do?
Shivangini
So one thing that definitely keeps me going is making a difference. So when I do something throughout the day or do something even with the organization that I'm working with, like even the Scallop, it is very important that you're making a difference with what you're doing. You're helping solve a problem or you're helping certain set of community or you're doing something or giving back to the community or the industry overall. So I really believe in making that difference because there are a lot of players and there's a lot of competition in the market. Everyone wants to do something and everyone wants to achieve something or give a product out there to people or say, sell their products. But I really believe that making that difference and impacting something, be it on a smaller scale, be it gradually, it doesn't have to be in a few days or a few months, but when you know that you're doing something that is eventually going to make a difference is very crucial for me.
Shivangini
I really need to know that, okay, what I'm doing is going in a certain direction. It's definitely going to make a difference in the long term and it is going to help overall to everyone.
JP
Fair enough. So it pays to be mad, right? It pays to make a difference. Fine. Understood. Okay. You have to be mad. Excellent. I can get behind that, and I'm sure most of us can as well, those of us that are inside the room. So, Shivangini, thank you for that. Thank you for sharing your personal philosophy as well. There's so much to take away, of course, about what this is. And once again, audience, I'd like to remind you, if you're in the room and you have questions that you want to ask, send them to AdLunam Inc. Or to our speaker directly so that we'll be able to pick them up and ask here on the show, because we are coming to the end of it. My team has just okay, so I see that there is one question that's come in from one of our listeners in today, and she's asked, how can I participate in the Ambassador program?
Shivangini
Okay, so honestly, there's a form that you can fill. We have an ambassador page for Scallop, and you can just go and click on the Apply button, and you'll see a form, you fill in your details. We have sort of a long, shortlisting process because we want to be very sure when we choose an ambassador. And I'm sure our ambassadors can vouch for. I mean, you can always also reach out to us on Twitter or reach out to our customer support, and we'll help you out with that. But yes, just Google scallop ambassador program. You'll see a page and you click on the Apply button, and that is how you go about it.
JP
Okay, so I go to Scallopx.com, and that's where I can find the details that I need, is that correct?
Shivangini
Yes. On the header, there is an option, and you can apply to the Ambassador program.
JP
Super. So, ladies and gentlemen, you've heard that here first, you can go to Scallopx.com and you'd be able to find how to join in their Ambassador program. Okay, next question that's come in is from RM, and RM asks, you've shared with us some of the details of what you're doing. What are some of the future plans that Scallop has that you can share with us?
Shivangini
Okay, so Scallop is as I mentioned, Scallop is trying to solve a very niche problem, which is the gap between the traditional and the crypto side of finance. So we are basically simplifying digital money for you in very simple language. We are trying to make this entire process simple for you. Now, how we are doing it is we are building multiple products for you. Like, one of our product, which is currently live for European users, is Scallop app. In that app, you have crypto, you have your banking. So you submit your KYC with us, and you get an Iban account. Once you are given that Iban account, through that account, you can also do foreign exchange. Like, you can convert your Fiat to Fiat, or you can also convert your Fiat to crypto and you can also do swapping in crypto. So just imagine having crypto in an HDFC app.
Shivangini
So that is how we are combining both for you and even coming to our long term plans or a future plans. What you can expect from us is having these suits of products which complement each other and which will enable you to say, a person who doesn't know crypto, that we will enable you to enter this industry through traditional banking and then gradually able to say, buy a crypto or sell or even exchange it.
::JP
Okay, fantastic. And RM, I hope that answers your question. I think you did mention HDFC, that is a bank.
::Shivangini
Yes, HDFC is a bank. Okay, that was just an example. But what we're doing is we are giving you a banking account with your crypto so you'll soon be able to take a Scallop card, go to an ATM and draw dollars out of it.
::JP
Fantastic. All right. Perfect. Okay, ladies and gentlemen, if you send in any more questions, we're going to have to ask the speaker to share her answers with us and we'll post them up, of course, on our Twitter handles. So, Shivangini, thank you so much for agreeing to be on the show today. Thank you so much for taking the time to openly and honestly share your journey with us and also the wonderful things that you and Team Scallop are doing. Hats off to you.
::Shivangini
Thank you so much for having me here. It was really great talking to you and looking forward to more such collaborations.
::JP
Certainly. All right, ladies and gentlemen, thank you so much for being in on the show today. This is the end. What come back to us next week at the same time and the same place, where we will have speakers sharing their insights with you, if you are able to on Tuesdays, we have our sister show, The Future of NFTs, hosted by our co-founder, Nadja Bester. Right. And wish you all good luck. And, yeah, this is JP from AdLunam Inc. bringing you everything about web3. Have a great day. Cheers.
