The world is increasingly becoming blockchain-savvy. This is 2022, and there are more than 10, 000 cryptocurrencies in the world, as against about 66 that existed back in 2013. Is that good news for blockchain startups? Does an increase in the number of cryptocurrencies mean an increase in peoples awareness rate?
Heres the truth: cryptocurrencies and blockchain technology have become more known than they were 10 years ago. However, thats no automatic guarantee that every cryptocurrency startup launched will survive andthrive.
The world is one big ocean; from this ocean, a river has its source; and within that river, there are different species of fish. This is how the crypto world pales in comparison to the whole world in general. Theres the crypto world. And within that world, there are different cities??coins, tokens, crypto startups, NFTs.
These things are so numerous that its easy for your new or perhaps not-so-new startup to be lost in the river of things. How do you make your idea thrive? How do you gain value for yourcoin?
Community is important to every crypto project; do you have a strong force solidly backing you? A force that believes in your coin and what you have to offer? How do you even get that community? It doesnt just happen in aday
And of course, theres also the importance of media attention. It could make or mar your startup. Help you thrive, or kill it outright even before you start to gain grounds. We saw how media attention influenced the price of Doge and made it one of the biggest fastest growingcoins.
Its not enough to have an ingenious utility case for your cryptocurrency. Can you build a reputation for it and maintain that reputation till everyone starts talking about your coin? Thats what we call creating the buzz. What many blockchain startups long for. How will they getit?
And thats where PR comes in. Public relations is the elixir for any ambitious startup??and blockchain startups arent left out of thepool.
In this article, well walk you through the meaning of public relations, and how beneficial it could be for your blockchain startup.
Whats public relations?
Public relations deals with professionally creating, maintaining, and boosting a brands public image. PR isnt just about building your brands image alone. It also regroups strategies and activities through which you create a buzz around your brand. Public relations is important to any business because it helps form the social perceptions of thebrand.
And if you didnt know, heres a shocker: people dont make buying decisions based on rationality. They buy based on emotions, and social perceptions form an important aspect of the buyingprocess.
Thus, the more youre able to sway social perceptions in your favor and maintain it, the more likely the buzz around your brand will last. And thats good news, since the buzz will help your brand thrive. With enough attention, you can opt for the value-based pricing model??and your product could well experience aspark.
In a world where there are tens of thousands of crypto startups competing for the little attention the blockchain technology has been able to garner, how will your company thrive? How will you create a buzz and make a name for yourself? The answer is public relations.
However, public relations for cryptocurrency startups is a niche on its own, called blockchain public relations. Whys there a sub-niched PR for this emerging technology?
Traditional PR is a no-no; its way less potent than digital PR. And mainstream digital PR would have been perfect, but big data companies like Facebook and Google have cracked down on blockchain-related ads.
Thus, blockchain public relations is a sub-niche under public relations that focuses on creating buzz around blockchain companies within blockchain communities.
There are dedicated blockchain communities across some specific social media platforms like Telegram, Discord, and Reddit. Blockchain public relations agencies help their client companies gain a reputation within these communities.
Thus, the focus of blockchain PR is more on quality than quantity. They would rather have access to 10, 000 crypto enthusiasts than 100, 000 people, with only about 1% of them being crypto enthusiasts and potential ban from Facebook and thelikes.
Blockchain public relations primarily exists for blockchain startups and established companies. Its possible to run your PR yourself. However, the downside to this is that you could spend years, plus tons of financial and human resources, trying to perfect your strategy, to noavail.
Thats why hiring a blockchain public relations agency is beneficial to your blockchain startup??whether youre in the prelim stage, or about to get your first funding. How can public relations benefit your blockchain startup? Here are fiveways.
5 Benefits of Public Relations to Any Blockchain Startup
- Build Brand Presence and Credibility
- Form and Maintain a Strong Community
- Coordinated Marketing Efforts
- Gain Investors Attention
- Proactive Crises Interventions
Build Brand Presence and Credibility
Public relations is the surest way of solidly building your startups presence and credibility in the crypto world. In a world where scores of crypto coins are launched simultaneously, its easy for yours to get drowned in the crowd. However, your brand can stand out from the get-go if you employ the services of a blockchain PR agency with provenresults.
Press releases on both big-name and medium-name blogs and websites could be all the boost your startup needs for its first bullish growth. When the awareness comes rushing, how do you manage media attention? Your niched PR agency will be there to help you throughit.
Form and Maintain a Strong Community
Communities can never be underrated in the crypto world. Long before your project becomes mainstream; its your community that would be there for you, solidly believing in the vision of your project. An example of a solid community is that of Pi. Even with the negative media attention and social media jokes and memes, the Pi Network is still growing steadily.
Thats evidence of having good public relations from the get-go. Blockchain PR agencies know what platforms to go to introduce your project in a systematic manner and help you form a solid community base.
Coordinated Marketing Efforts
Not all marketing agencies can run PR campaigns. However, its a given for all PR agencies to be skilled in marketing. Thats because marketing forms a part ofPR.
Hiring a blockchain PR agency will translate to coordinated marketing efforts for your startup. These marketing efforts could help bring you leads, both in the long term and in the shortterm.
Look at it this way: the PR agency is all about seeing your company grow. To measure your startups growth, there has to be a customer base. Thus, marketing efforts such as SEO are deployed to help you generateleads.
Furthermore, building your brands presence, reputation and credibility will translate to lead generation in the foreseeable future. Thats what we call word-of-mouth marketing.
Gain Investors Attention
Investors are like smart pundits; they take risks, true. However, they love to put their money where theres good potential of gaining returns. Thus, a strong PR strategy that positions your startup as a focused blockchain startup with the potential to scale will give you anedge.
Fortune tells us (pun intended) that in 2021 alone, crypto startups raise $30 billion in investments. There are several investors out there who are willing to be part of the future that blockchain technology promises.
Your startup needs a blockchain PR agency to help you create a solid strategy to generate enough buzz, show your potential, and gain their attention.
Proactive Crises Interventions
You need to prepare for the morose days; the Twitter mob could come for you and troll you. You could find your startup or product trending for the wrong reasons. It could be negative media attention. A scandal isnt even out of the books. Any form of crisis could happen to threaten the existence of yourstartup.
If youre backed by a tried and tested blockchain PR agency that has worked on other crypto projects startups, then, you have nothing to fear. The bets that they would help you create a nice escape plan for crises management and damagecontrol.
Ingenuity, innovative ideas, and excellent execution could help you establish your crypto startup. However, they can never be enough to help it survive and thrive. Beyond marketing, you need the services of an excellent PR person or agency. Not just any PR, but a blockchain PR.
Whys there an emphasis on you getting a blockchain PR agency or person? Blockchain PR isnt fully like the general PR. If you want to record success, then, you need the services of a person or an agency that has done for others and recorded massive success. And only then can you rest, assured that your blockchain startup is set for themoon.
The Benefits of Public Relations for Your Blockchain Startup was originally published in Startup Stash on Medium, where people are continuing the conversation by highlighting and responding to this story.
