There is a lot of buzz in the media surrounding cryptocurrency and Non-Fungible Tokens (NFTs). As a result, standing out is not easy for companies who are building brands on the blockchain and who are trying to get media momentum. Partnering with a public relations firm can provide the resources that a crypto company needs to get the right kind of media attention. Not only do PR firms maintain connections with credible and influential media outlets, but they understand the steps that must be taken to present a brand as credible and newsworthy.
PR for Crypto Requires an Experienced PR Firm
Crypto and other blockchain companies who are seeking their first PR experience should partner with PR firms that have experience promoting crypto brands. While the strategy for promoting crypto and blockchain companies will be similar to that used for any company, there are nuances that need to be considered.
For example, blockchain companies are founded on a technology that is unfamiliar to most people. A recent survey shows that many people do not understand or trust cryptocurrency. To bring credibility and acceptance to crypto and blockchain clients, PR firms must know the technology, understand public perception of it, and have proven strategies for presenting it in a way that engenders trust.
Before signing on with a PR firm, crypto companies should ask to see case studies of the work that they have done for other crypto and blockchain clients. Case studies should not only present the strategy for promoting those brands, but also show the successes that clients have had as a result of media placements.
If crypto or blockchain companies are relying on PR firms that do not have experience in the field, it will be obvious to media outlets. Pitches will rely on buzzwords instead of presenting language and concepts that reveal a deep understanding of crypto. If PR for crypto or blockchain does not establish itself and its clients as experts in the first exchange, it will be very difficult to get any exposure from that media source going forward, especially when the source specializes in providing information to the crypto and blockchain communities.
PR Establishes Credibility
The crypto universe is full of “dead coins,” which represent crypto brands that did not prove to be viable companies. A recent report places the number of dead coins at more than 2,000, which means that nearly one in five crypto companies fails. With the failure rate that high, the high level of skepticism that potential consumers have with crypto companies is understandable. To overcome the skepticism, PR firms must carry out effective strategies for establishing credibility.
When a PR firm is able to leverage its contacts and expertise to establish a crypto or blockchain brand’s principals as thought leaders in the industry, it is able to guide public perception of the brand and help to grow the brand’s credibility and to be positioned as a coin that can be trusted.
PR Amplifies a Brand’s Strengths
While the crypto industry is still in its formative stage, there are some clear frontrunners when it comes to coin brands. In order to compete with the popularity of well-established brands like Bitcoin and Ethereum, many new cryptocurrencies provide unique solutions that have the potential to make them stand out. PR firms specialize in crafting and positioning stories that take advantage of those unique solutions. By amplifying those strengths in the correct media outlets, PR allows for cryptocurrencies to attract the attention of interested consumers.
PR for Crypto Builds Community
The growth of crypto brands depends on the growth of the community that supports the brands. Without a steadily growing number of users, crypto brands fizzle. PR ensures that crypto companies are able to be present in the spaces where the crypto community gathers and to participate regularly in the conversations that happen there.
By continuing to share its vision, merits, and triumphs in media outlets that are frequented by those with an interest in the development and success of the crypto and blockchain industries, a brand will continue to gain exposure to potential users. When the stories are shared in a way that resonates with the crypto community, their reach expands through social shares and word of mouth.
PR for Crypto Provides Crisis Management Resources
Because of the volatile nature of cryptocurrencies, crypto and blockchain companies must always be ready to respond to shifts in public opinion prompted by market swings and other unexpected negative press. As experts in the field of crisis management, PR firms can assist crypto and blockchain companies in their ongoing efforts to maintain credibility and build trust.
For more information on how PR can help in times of crisis, see these posts on “How to Develop a Crisis Action Plan,” “How to Create a Crisis Management Plan,” and “Common Mistakes Businesses Make Dealing With a Crisis.” Companies that fail to plan for a media crisis, even when the crisis is the result of a misunderstanding, risk the work that they have done to establish their reputation.
Overall, public relations firms offer a wide range of services that can assist crypto and blockchain companies in growing their customer base, expanding their influence, and establishing their credibility. The key is to make sure to partner with a firm that understands how crypto technologies work and how to position them in the media.
