Beating the bear market: 5 reasons to need PR

Beating the bear market: 5 reasons to need PR

Heading into the new year, it’s a good time to reflect the good and the bad that the crypto industry endured in 2022. Last year was short of a nightmare, with Terra’s LUNA and UST crash expediting the looming bear market. Celsius, Three Arrows Capital, FTX and many more followed this madness, showing how unpredictable bear markets could be.

While good PR cannot prevent bankruptcies or predict the end of this crypto winter, it can save and expand the brand’s image, carry CEOs and CTOs through a crisis and ensure that the industry knows how companies intend to solve problems.

To remain competitive in the current market, having a strong brand positioning is essential for companies hoping to make an impact in 2023.

Ready for anything

As previously mentioned, 2022 was a wild ride. While many things went wrong — and honestly who could have predicted that SBF would feature himself in the New York Times and countless other interviews  — professional PR reps can evaluate the effect of a certain campaign and position the company’s brand in the most favorable way. 

That’s because their job is to know the market, follow trends and see what obstacles could be in place. From handling communication crises to the launch of a new product or service, PR reps focus on delivering the best message to boost the image of a company. 

A crypto community

As companies choose their PR strategy or professionals, something that should stand out is their connections to the industry. Who do they know, who are they connected with and what is their background? In many instances, an agency has representatives that are well connected in the industry, with colleagues and friends in different areas of expertise for advice, collaboration and help with upcoming projects and campaigns. 

In (crypto) journalism, all parts should work together in order for change and innovation to be made. Knowing how a company’s agency is well connected and integrated in crypto is key to an all-around good working relationship.

Endless opportunities

Even with a client’s niche, the sub-topics can be never ending, especially with the innovation that comes with crypto and blockchain. Endless amounts of research and creative thinking go into developing a client’s brand and focus in a constant effort to expand its audience. Whether that includes specific conferences, publications or opportunities, your PR agency will know where to guide you into otherwise unheard-of avenues.

Fixing mistakes 

While PR agencies cannot avoid what happens with their clients, they do have the power to control the image and correct possible PR mishaps. Your personal PR representative should help you face the problem and repair your image through their connections. Our clients can demonstrate commitment to their customers and the industry while their PR agency works in the background, working to restore the brand’s reputation.

Being in good hands

While collapses and bear markets can be challenging to weather as we go into the second year of the crypto storm, you’re not alone. PR agencies are here to guide their clients and projects through whatever is happening in the industry. We are trained and ready to push our clients to success for the upcoming year and beyond as the whole industry looks to fix what the crypto winter has left for us. 

It could be a tough journey into and through 2023, but PR agencies are there to provide a good buffer between what could be a workable solution and a PR disaster.

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