Blockchain and Crypto PR have become one of the most important forms of marketing available for this industry. To better understand how to do this form of PR, companies need to understand what public relations entails. PR can be split into traditional and digital PR. In the past, conventional PR focused more on TV, radio, and print publications. Now, with the rise of technology and companies like Google and Facebook, digital PR has come to the forefront to become the most common marketing channel since it focuses on different forms of social media, blogs, online news sites, influencer marketing, and beyond. The popularity of Initial Coin Offerings has led to the use of creative PR strategies to build brand awareness around a blockchain or cryptocurrency project.
In this article, we will look at:
1) What is Blockchain technology?
2) How Blockchain and Cryptocurrency are using PR
3) Blockchain & Crypto PR techniques
What is Blockchain technology?
To the average person, blockchain technology can seem quite complicated and only relevant to those working in the technology industry. On the contrary, blockchain technology can be used to enhance operations in many different industries beyond finance and technology. By providing an increased level of transparency, security, and auditability, blockchain technology can deliver several benefits to many industries.
Along with that, blockchain technology has also been used to establish a decentralized identity framework, and remove control of personal data from private entities and government, ultimately placing control of digital identity back in the individual’s hands. From a business standpoint, blockchain has been used to boost data security, which means that data can only be viewed and used when it is relevant.
How Blockchain and Cryptocurrency are using PR
At the moment, Blockchain PR can be considered as a subset of digital PR since they are both quite similar. Some key differences include the cost involved and avenues available to companies looking to promote their content. Since cryptocurrency has been categorized as a new technology, cryptocurrency firms use disruptive PR tactics to stand out from their competitors. These firms have also had to adopt less formal methods of communicating with clients, seeking more simple and more authentic means of engagement. With cryptocurrency and blockchain-related advertisements experiencing bans on many platforms like Google and other social media sites, the founders of projects need to look to crypto-friendly sites like Reddit and Steemit to get their message out there. In addition to joining crypto-friendly sites, these projects rely on using different types of content like guest post articles to generate backlinks and build a reputation. Submitting PR articles to crypto communities gives a company a higher chance to broaden its reach.
However, with over 5,000 cryptocurrencies in the market these days, gaining media attention is the very thing that can make or break a blockchain company. While the industry is still young and needs to be globally regulated and adapted, we have seen blockchain technology being used in healthcare, automotive, government, retail consumer goods, and more.
Because there are so many competitors in the industry, some companies fall short of their PR efforts because they have either not created the right message or have targeted the wrong audience. Sometimes, companies fail to push their content to crypto communities, making it even more challenging when trying to run a blockchain PR campaign. While all industries have their own merits and gain a level of respect, blockchain and cryptocurrency has always been a respect-based economy. This which can be a great benefit because a practical project can earn the community’s support and gain excellent media coverage around the brand.
However, since mastering blockchain PR can require a lot of time and patience, many cannot understand everything by the time they need to launch their campaign. For this reason, PR agencies like Pressfarm help companies create content for their brand and provide expert advice and insight into the blockchain and cryptocurrency industry.
Pressfarm helps companies of all sizes and starting points create newsworthy content from brand brief to press releases, and guest posts articles distributed to media professionals, bloggers, influencers, and the general public. Since finding the perfect journalist to cover a story can be a tedious task, their PR professionals also provide access to their database of over 75,000 journalists and help create a customized list of the company’s ideal media matches to achieve the best media coverage. Digital PR is a part of every company’s overall business strategy and an important part of Pressfarm. The team at Pressfarm demonstrates this by helping companies to achieve online visibility through relevant search results on various search engines.
Ways PR can help Blockchain and Cryptocurrency
1) Develop a reputation of transparency
No matter what industry a company is in, credibility is the most important contributor to higher sales and customer loyalty. Changing consumer values have made consumers think twice about what companies and products they choose to follow; they want to know beforehand whether they can trust the organization they are working with. By using PR, companies can create transparency, by showing consumers what makes their currency so valuable to their needs compared to others.
2) Create a marketing strategy
To stand out against their competition, companies need to have a clear and customized plan based on their exact expectations and needs. Public relations helps businesses create suitable campaigns that mix multiple techniques like influencer marketing, position papers, etc., to gain media attention.
3) Provide expert insights & establish authority
In a world of tech-savvy individuals, companies that set themselves apart from the competition are those that establish themselves as thought-leaders and experts in their industry. Through PR, businesses can create high-quality content and establish a thought leadership strategy that highlights their authority and presents them as a powerful resource for those looking for more information about blockchain and cryptocurrency. It demonstrates expertise among audiences, but it also gives investors and media professionals the incentive to look at the brands that seem to understand the possibility of blockchain technology and the opportunities presented by crypto.
4) Maintain constant communication
In a market that is constantly changing, consumers and investors want to feel like they have all the necessary information before it “goes live.” Public relations provides a way for companies to create content continuously and ensure that their community is always informed on what is going on within the industry and the company.
Blockchain & Crypto PR techniques
1) Build a real community
Usually, every company’s intention is to be taken seriously from the get-go, which has now led many companies and global influencers in the crypto community to buy followers. This strategy is supposed to make brands look more credible. While buying followers might initially seem like a good idea, these fake accounts will not engage with the available content, resulting in low web traffic.
Since blockchain and cryptocurrency are already questioned by people who don’t understand them, buying followers can hurt a company’s reputation irreversibly.
While building a social following from scratch can be a very long process, it usually begins with attracting a handful of fans and encouraging them to spread the word. With a solid base of core supporters, blockchain companies can lower their marketing costs and reach a growing number of people. This strategy is not unique to cryptocurrency, but with those projects, companies need to go one step further and maintain a genuine sense of community.
2) Use SEO
Since most blockchain PR campaigns have a short period to generate media attention before fundraising when they start their campaign, many do not use Search Engine Optimization to its full capability. SEO can help companies improve both the volume and quality of traffic to their website using various techniques. However, in this case, it is better late than never. If a company has not used SEO to its full potential, they can use it as part of their long-term marketing strategy.
When a company or PR professional decides to start writing content, they need to consider whether the content will rank high in relevant search results. Ideally, to properly use and understand SEO, companies should generate long posts with relevant keywords, which get more backlinks than short posts and help companies gain online visibility. Before beginning any SEO campaign, companies need to do their keyword research to understand the right keywords to use.
3) Make use of performance metrics
Much like keyword research, companies should research and evaluate their key performance indicators (KPIs), which are metrics used to assess the success of a business by “identifying its conformity to expected standards for several different tasks.” The metrics that companies need to consider are website traffic, brand awareness, and SEO effectiveness.
Website traffic may not always be the most accurate reflection of PR quality. Having a high traffic volume does not necessarily mean that people engage with the company or what they have to offer. What it does show, however, is a rough estimate of how many people are viewing the website as well as their habits on the site. Another analysis that can be considered is brand awareness. This is a little bit more challenging to measure since it is not a quantifiable statistic like traffic. However, through brand awareness, companies can see whether their business is easily recognizable or whether they need to go through rebranding.
Finally, as mentioned previously, companies should measure their SEO campaign’s effectiveness by checking keywords and backlinks, which will help boost their Google ranking and increase their website traffic.
4) Be aware of campaign costs
Blockchain PR campaigns can be pretty costly depending on several factors; sometimes, companies can blow their budgets on paying to write guest posts on massive publications with no results. Because of this, companies need to be aware of everything they spend going on their PR campaigns. To do so, they should start by creating quality organic content which will generate high-quality and high-volume traffic to their site. From there, they can engage with more extensive publications to build their reputation and other smaller, niche publications to bring in the same engagement at a lower cost.
5) Give real value and don’t be too self-promotional
To the general public, blockchain is still a poorly understood field because it can be challenging to know understand the technology. To be receptive to blockchain and crypto product offerings, audiences need to feel comfortable with the technology. By creating content with real value, companies give skeptics a way of understanding the blockchain and cryptocurrencies industries through PR activities.
Also, a company in this industry should back up their high opinion of themselves with content that is valuable and educational rather than promotional. Given that people are still struggling to understand the blockchain and crypto industries, brands which are invested in promoting themselves will be met with suspicion. By creating content that is valuable and informative, companies position themselves as experts.
No matter what type of company it is and what products and services they are selling, public relations is one of the main strategies they can use to increase visibility and be relevant to their target audience. While there is no cut and dry way to perform PR, there are things that companies need to consider, especially in the digital age. Since blockchain and cryptocurrency are predominantly digital industries, these brands need to know what is going on within the market. With the help of PR professionals or on their own, companies need to figure out precisely what they want and need from a PR campaign so that they have a clear path for their overall business strategy.