The crypto industry is a trustless ecosystem. So, when it comes to establishing brand awareness, visibility, credibility, and trustworthiness, there is no better channel than crypto PR (public relations). An effective PR campaign essentially has the potential to take your crypto project to new heights.
As per a study, the global PR industry value is expected to cross the $129 billion mark by 2025. Businesses from virtually every domain are getting into PR to boost their public image and reputation lately. However, since the crypto space is less reliant on traditional PR techniques, digital PR plays an important role in it.
There has been steady yet rapid growth in the blockchain industry. More and more crypto projects keep on launching. Because of this, not only quality of services and products, but even trust has become a major benchmark for crypto projects lately. This is where crypto PR techniques have been helping brands to establish themselves as authorities in their respective niches.
A PR campaign in the blockchain and crypto space is much more than a press release or a fundraiser. It is a process spanning over months and involves extensive market research and planning. In this article, we will discuss the importance of PR in the crypto and blockchain space along with some of the techniques to execute an effective campaign. So, let’s get started.
Table of Contents
What is Crypto PR?
Scams are a reality in the crypto and blockchain space which is why brands or projects focus more on building credibility and trust in the community. While different marketing tactics help establish their image, PR is what substantiates their trustworthiness. Overall, PR focuses on building and maintaining a project’s rapport in the industry.
For example, you own a crypto exchange and naturally want more traders to use your platform for trading. You will promote your offerings via social media posts, videos, influencer marketing etc.. to gain more traffic. However, you still need to spread awareness about your platform to establish trust in the crypto community.
This is where a PR will come into the picture. You will use press releases to make announcements, official statements, or simply to share your opinion about the different aspects of the crypto and blockchain industry. You will conduct AMAs, interviews, discussions, etc. around your project and the industry, in general.
All these practices will fall under your crypto PR campaign and its main purpose will be to build trust and establish you as an authority in the crypto trading space. This is why public relations play a very crucial role in the crypto space. However, there are still several aspects that you need to take care of while planning a PR campaign. So, let’s take a look at the same.
Crypto PR Objectives
As mentioned above, the end goal of a PR campaign is to establish credibility and trust. However, there are still specific objectives like reaching out to new audiences, boosting sales, building a positive relationship with the target audience, etc. It is, therefore, important to plan a campaign around a specific goal to meet it in the most effective way.
A PR campaign usually includes press releases, sponsored posts, guest posts etc. The idea is to strategically execute these activities to meet the goal you wish to achieve. For example, if you want to build a positive relationship with your target audience, your press releases should highlight how your crypto project is beneficial for the crypto community.
Also, you should speak about the change you want to bring with your project. Make announcements about services and products that are beneficial for your target audience. Hold AMAs to clear your target audience’s queries. Moreover, interviews and discussions with popular influencers is also a great way to highlight yourself as an authority in the crypto community.
The aforementioned activities can be molded according to the specific goal you decide for your campaign. Apart from that, a timeline for achieving your goals should further streamline your campaign and make it easier for you to achieve them. This is why defining goals is the very step in the PR ladder.
Crypto PR KPIs
After finalizing your campaign goals, you have to start outlining the key performance indicators (KPIs) to track the overall progress. KPIs usually include media mentions, engagement, impressions, reach, share of voice, etc. They can provide you with relevant insights as to how well your campaign is performing.
For example, you conduct a crypto AMA or general discussion with an influencer and prominent media outlets like Cointelegraph, CoinDesk, etc. start highlighting it. Apart from that, the events you hold in your community manage to engage most of the members. Aspects like these will indicate whether you are on the right track or not.
On the other hand, you can even figure out the areas of improvement and additional tactics to further enhance the performance of your PR campaign. This is why it is essential to define KPIs and keep tabs on them so that you can further analyze whether you’re moving towards your campaign goals smoothly and in time.
Best Crypto PR Techniques
Now that you know the fundamentals of PR in the crypto and blockchain industry, it is time to look at some techniques that can help you execute your campaign efficiently and effectively. So, let’s get right into the thick of it.
1. Community Management
Having a community around your crypto project is a must if you want to succeed at the PR game. A community of your target audience is the best place to start building trust. If your community members feel engaged and acknowledged, they are more likely to spread the good word about your project.
You can share your crypto PR content like influencer videos, press releases, brand mentions, etc. in your community to boost engagement. This can further lead to increase in trust and credibility, and you can also gain new members. Overall, managing a community is among the best crypto PR strategies.
2. Making Good Use of Performance Metrics
Just like the KPIs mentioned above, there are several other metrics that you can track to further manage your PR campaign better. Parameters like brand awareness, SEO effectiveness, and website traffic can help you get a better perspective on your PR efforts. Also, you can further enhance your tactics based on the data you get from these metrics.
While website traffic may not seem as a vital metric, it can definitely offer some insight into how much traffic your PR content is attracting. Similarly, you can track how well the target keywords and backlinks in your PR content are doing. Moreover, if prominent news outlets and media houses start talking about your project, you know that your crypto PR efforts are paying off.
3. Providing Actual Value Without Being Self-Promotional
The main difference between PR and marketing campaigns is that you are not explicitly selling your crypto project in the former. It is, however, easy to lose track if your PR campaign goal is to boost sales in the first place. The idea here is to stay true to the main objective of PR which is to boost trust and credibility.
You can do this by ensuring that you are providing all the essential information your target audience needs about your crypto project. Also, avoid highlighting your offerings as the best in the industry and istead educate your audience as to how they are different and beneficial for them. In this way, you achieve your PR campaign objectives while providing real value to your target audience and without being overly self-promotional.
4. Using SEO as a Tool
Since you will be keeping tabs on the SEO effectiveness of your PR content, you might as well use SEO as a tool to enhance your brand visibility and awareness. The idea here is to identify and resolve the queries of your target audience with your PR content. Once you start offering solutions, you will be able to attract more followers.
Be it videos, social media posts, press releases, or any other form of PR content. If it is optimized properly, your brand visibility and awareness will increase in no time. Furthermore, it will lead to boosting trust as well as organic leads for your crypto project.
5. Keeping Tabs on Crypto PR Campaign Costs
As you will have to define a budget for PR, you need to track the performance of your campaigns in terms of ROI. Your crypto PR campaigns should yield meaningful results in terms of revenue if you have set the objectives straight, tracking the KPIs properly, and sticking to the set timeline. However, if your ROI is substantially less than what you are spending on PR, you know that it is time to rethink things.
These are some techniques that can help you execute PR campaigns flawlessly and effectively. However, there are more tips to further boost the success of your PR campaigns. Check out our blog regarding the same here.
The Key Takeaway
PR is not as simple as it may seem at first glance. There are a lot of aspects to take care of and it is easier to lose sight of the bigger picture i.e., awareness, visibility, credibility, and trustworthiness. This is where working with a crypto PR agency like Blockwiz can prove to be highly beneficial.
If you want to successfully plan and execute a PR campaign for your crypto project, learn more about our PR offerings here. Collaborating with a crypto PR firm can make things a lot easier for you as such agencies have extensive experience in this domain. So, it is finally time for you to start establishing yourself as an authority in your crypto niche with Blockwiz.
