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.
In its work with AXIA Coin, OtterPR implemented a strategy that positioned AXIA’s founder Nick Agar as a thought leader in the cryptocurrency field. By successfully pitching and positioning more than 250 articles and interviews for AXIA, many of which featured Agar sharing his experience, expertise, and deep understanding of crypto currency and its mechanics, Otter allowed AXIA to establish itself as a reliable and sought-after voice in the industry.
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.
In the case of AXIA Coin, Otter strategically highlighted the hyper-deflationary nature of the coin, a facet of the coin’s tokenomics that results in coin holders increasing their buying power over time, rather than losing it as is the case with many cryptocurrencies. In addition to setting AXIA apart in the eyes of readers, focusing on AXIA’s unique strengths also allowed Otter to streamline its message when pitching AXIA. PR firms understand that when trying to grab the attention of busy journalists, it is important to provide a focused presentation that succinctly communicates the value that the client can bring to an article.
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.
Otter’s work with AXIA positioned media about the company in a way that inspired readers to share it, essentially converting the outlet’s audience into AXIA fans. Thanks to thousands of shares, the 280 pieces of coverage Otter obtained for AXIA reached an online readership of nearly 1.4 billion people. After being featured in Market Watch, Yahoo Finance, and CBS Tampa, AXIA Coin has nearly doubled in value.
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.