Blockchain and cryptocurrency are the most recent arrivals in today’s economic landscape, so PR and marketing are crucial for these technologies. Having said that, the expansion of the blockchain sector has been excellent. As a result, a sector of services related to blockchain technology and legitimate businesses has emerged.
Public relations for the blockchain is among the essential services. In contrast to other technology sectors, the blockchain industry has embraced public relations techniques more quickly. Most blockchain and crypto developers use public relations to manage public perception, fix their messaging, and interact with users across the globe about the value of their goods and services.
Most cryptocurrency and blockchain enterprises worldwide provide solutions to global financial issues. To guarantee that their opinions are heard, businesses in this sector need more help. This is where blockchain PR enters the picture. It is a fundamental tactic that companies may begin utilizing to assist them in getting the most out of their marketing plan.
Blockchain public relations is quickly becoming one of the most essential forms of marketing available to organizations in this area. Companies must first comprehend what public relations is so that they can better understand what the best use cases in their industry are. PR is all around us, even if we don’t recognize it, and it is divided into two categories: traditional and digital PR.
Traditional public relations is focused on TV, radio, printed publications, and so on. With the recent growth of technology and companies like Google and Facebook, digital public relations has become the most common marketing channel. This is because it focuses on various forms of social media, blogs, online news sites, influencer marketing, and so on.
PR’s role in blockchain involves managing communications between blockchain enterprises, cryptocurrency, and stakeholders. Without these efforts, businesses cannot earn widespread public support. They would pass up chances to get new clients, sales prospects, and business partners.
In this article, we will look at:
1) What is Blockchain PR?
2) Roles PR Play To Blockchain Become Mainstream
3) Blockchain & Crypto PR techniques
What is blockchain PR?
Blockchain PR establishes, maintains, and promotes a cryptocurrency’s brand identity inside and outside the crypto community. While many components go into developing a PR strategy, creating and publishing content on targeted platforms is one of the most basic yet essential elements. The format of the content changes depending on the goal of the current PR campaign.
Effective content in this field includes in-depth articles to teach readers about cryptocurrencies and infographics with tidbits of information about the industry. According to research, the blockchain market is quickly expanding, with companies spending more than $11.7 billion by 2023.
That indicates that the industry is just as profitable as some of the strongest industries in the current economy. However, the main challenge is starting a business in the market. A blockchain-based company needs to do more than have a product, a website, and social media accounts. Doing something to stand out from the crowd is especially crucial today, given the thousands of projects established every two months.
That is where blockchain PR comes into play. A company that invests in a solid blockchain PR strategy will have the tools necessary to create a brand with authority and generate trust among the blockchain community.
How blockchain companies are using PR
Since digital PR has turned into a disruptive technology, blockchain enterprises continue to utilize digital PR but with less formal techniques of engaging with clients.
Traditional cryptocurrency and blockchain-related advertisements are still banned on many platforms. In addition to having to turn to crypto-friendly sites such as Reddit and Steemit, crypto developers have had to use more creative content such as guest post articles to generate backlinks and reputation. Additionally, creating this kind of content increases a company’s chances of expanding its reach.
With over 5,000 cryptocurrencies on the market today, capturing media attention can be the difference between success and failure for a blockchain enterprise. The industry is still in its infancy and requires worldwide regulation and adoption. Even so, blockchain technology is gaining momentum with adoption in industries such as health care, automotive, government, and retail consumer goods.
Blockchain and cryptocurrency have always been respect-based fields. In other words, with an excellent project and an exceptional campaign, developers can earn the community’s support and significant media attention around the brand. While there are so many companies, some fail with their public relations efforts because they either did not produce the right message or targeted the wrong demographic.
What role does a good PR campaign play in the blockchain industry?
1) Develop a reputation of transparency
Blockchain and cryptocurrency businesses need to learn a lot about the kinds of content that appeal to their target markets, especially given the cutthroat competition in the media space.
Producing original and frequent content on industry issues will help protect developers to build credibility for their businesses. This is one way that highly targeted PR will aid in boosting traffic to the websites of blockchain and cryptocurrency companies.
It’s important to remember that reputation is everything, regardless of the firm’s industry. Consumer behavior has shown that consumers are more aware of the companies and products they choose to buy from. They want to know ahead of time whether they can trust the organization with which they are collaborating. Companies can use public relations to increase transparency, particularly in blockchain and cryptocurrency. They can also use public relations to demonstrate to consumers what makes their currency more beneficial to their needs than others.
2) Create a marketing strategy
Companies must have a clear and tailored plan based on their particular expectations and goals to stand out from the competition. To obtain media attention, public relations helps firms design campaigns that include tactics such as influencer marketing, position papers, etc.
3) Provide expert insights & establish authority
Even with the plethora of information about blockchain, potential consumers, investors, and the general public have little knowledge of it. This is either due to the jargon used in most articles or the fact that it is an entirely alien concept. In order for them to become receptive to blockchain product offerings, it is crucial that they feel at ease with the technology being utilised. Businesses in the cryptocurrency and blockchain sectors must engage in PR operations to better acquaint the target audiences with the technology. This will help with eliminating the skepticism that the blockchain and cryptocurrency scenes usually generate.
Businesses can use public relations to provide high-quality content to develop a thought leadership strategy that showcases their authority in the industry. This kind of content also positions them as a valuable resource for those seeking more information about blockchain and cryptocurrencies. It not only establishes knowledge among consumers but also gives investors and media professionals an incentive to turn to these businesses that seem to grasp the potential of blockchain technology and the prospects provided by cryptocurrency. Generally speaking, organizations that establish themselves as thought leaders and specialists in a complex industry stand out from the competitors.
4) Maintain constant communication
In an ever-changing market, consumers and investors want to be confident that they have all the relevant information before it “goes live.” Public relations allows a business to constantly publish material and keep its community updated on what is happening in the industry and the company itself.
The blockchain and cryptocurrency industries are dynamic spaces. The rapid pace of development has proven to lead to additional consumers and investment prospects without companies spending too much money on advertising.
Social media is critical for credibility building in the crypto and blockchain industries. When developers create open lines of communication on social media, the audience can ask whatever questions they want. This creates a sense of community and closeness around the crypto and blockchain projects. This strategy will also aid in developing transparency and trust.
5) Crisis management
Blockchain PR can also help with crisis management. Regardless of the crisis, the next step would be to provide a statement that would minimize damage experience levels and dispel such rumors. It is critical for crypto and blockchain enterprises to establish trustworthy contacts in the PR and journalism industries. These people can help to save their reputations and increase their market credibility.
Public relations is all about molding public opinions and brand perceptions. This is even more crucial in the crypto and blockchain industries, where earning trust from the public is vital to success.
Blockchain PR Techniques To Use in 2023
1) Build a real community
Typically, every company’s objective is to be taken seriously from the start. This has recently led to many companies and worldwide influencers in the crypto community “buying followers,” designed to make them look more trustworthy. While this may result in more followers, it also means that fake accounts will not interact with their content, and the website’s statistics and the algorithm will suffer as a result.
Since blockchain already has a reputation for being disruptive, buying followers serves no value and can potentially harm a company’s reputation and make it appear untrustworthy.
Creating a social following from scratch might be a lengthy process, but it is worthwhile. Doing things right from the start will ensure that a project has a loyal community backing it. Building a crypto community usually starts with attracting a small number of followers and encouraging them to spread the word. Blockchain companies can cut their marketing expenditure and reach out to an exponentially rising number of people by having a solid network of core supporters. This strategy is not unique to cryptocurrency. However, crypto-based enterprises must go one step further with this. This is because collective belief is a core component of all blockchain-based platforms. As a result, entrepreneurs and developers must continually foster a genuine sense of community.
2) Use SEO
Search Engine Optimization (SEO) is a technique that allows businesses to increase both the amount and quality of visitors to their website. Since most blockchain PR initiatives have limited time to garner media attention before they begin fundraising, many do not fully utilize SEO. However, it is better late than never in this situation. If a company has not fully used SEO, it can incorporate this into its long-term marketing strategy.
When a business or public relations professional decides to start generating the content, they must examine if it will rank high in relevant search results. To effectively use and comprehend SEO, businesses should begin by creating long posts with pertinent keywords that receive more backlinks than short posts and help enterprises acquire online visibility. Companies must conduct keyword research before launching any SEO campaign to determine the best keywords for their project.
3) Make use of performance metrics
Companies should undoubtedly examine and analyze their key performance indicators (KPIs). These are methodologies that evaluate a business’s effectiveness by “identifying its compliance to expected criteria for a variety of jobs.” Companies must examine measures including traffic, brand recognition, and SEO effectiveness.
Measuring traffic is not always an accurate indicator of PR quality because a high level of traffic does not always imply that people are interacting with the brand or what it offers. It merely shows a rough approximation of how many individuals are visiting the website and their browsing behavior. An alternative analytic to consider is brand awareness; however, it is more difficult to quantify because it is not a quantifiable figure like traffic. On the other hand, companies can use brand awareness to determine whether their company is recognizable at first glance and whether they need to rebrand.
Finally, as previously stated, businesses should assess the performance of their SEO plan by examining keywords and backlinks. This will help with increasing their Google ranking and website traffic.
4) Be aware of campaign costs
Blockchain public relations campaigns can be costly depending on various circumstances. For example, businesses can spend their budgets on buying guest articles in prominent newspapers with minimal returns. As a result, companies must be mindful of every dollar spent on public relations efforts. To accomplish this, companies should begin with organic content to generate high-quality and high-volume visitors to their sites. From there, businesses may engage with more prominent media to establish their reputation. They may also engage with smaller, specialist publications to achieve the same level of engagement at a cheaper cost.
5) Give real value and don’t be too self-promotional
As we’ve previously said, blockchain is still a poorly understood industry among the general public due to the technology’s complexities. To be responsive to blockchain and cryptocurrency product offerings, audiences must be at ease with the technology. Through PR initiatives, corporations provide skeptics with an opportunity to grasp the blockchain and cryptocurrency scenes by generating content of actual value.
While a company’s opinion of itself and its services is admirable, its content should also be beneficial and instructional rather than promotional. Since blockchain and cryptocurrency are respect-based sectors, market participants recognise when they are being sold to. What’s more, they generally do not respond well to that type of content. Instead, companies can promote themselves as experts and thought leaders in their field by providing meaningful and informative content. After all, their overall reputation is what will gain them funding and fantastic media attention.
While there is no one-size-fits-all approach to public relations, there are some crucial aspects that project developers should consider, especially in this digital age. Blockchain and cryptocurrencies are primarily digital industries, and developers need to plug into current PR trends to stay on the public’s radar. With the guide above, developing a winning blockchain PR strategy should be less complicated.