Crypto tokens are as abundant as ever. There’s over 2154 different coins backed by thousands of different teams and developers from across the planet. If you’re planning yet another blockchain project or crypto token now, you’re facing a crowded field bursting at the seams.
The only way to stand out is to implement a comprehensive public relations or token PR strategy to take your marketing efforts to the next level. Here’s a brief overview of how you can create your own token PR strategy:
1. Set objectives
The very first step is to list all the objectives you hope to achieve with your PR strategy. Different teams need different types of exposure, so it’s worth taking the time to figure out if your team needs more mainstream attention, more users, better talent or wealthier investors. Once you’ve done that, the rest of the PR strategy can be built around these core objectives.
2. Consider the budget
Having limited resources isn’t the end of the world. In fact, some of the most successful technology companies and blockchain projects bootstrapped their way to success despite their financial struggles along the way. As a startup, it’s fair to assume that you won’t have enough of money to compete with the big players. So, you need to get creative and figure out a way to squeeze every penny for maximum value. Figure out how much you’ll be paying writers to create content, journalists to cover your project, and influencers to push your product early on.
3. Create a network
Blockchain projects are intrinsically social, which means the community is what matters most. Try to use your early token PR efforts to create a network of angel investors, business leaders, experienced professionals, and industry experts who can help you fine-tune the project as you go along. Keep your initial PR strategy limited to niche groups of early adopters and wealthy investors with experience in the industry before you go mainstream.
4. Create and promote valuable content
Content is, and always will be, king in the digital world. From YouTube videos to Medium posts, the crypto community revolves around the projects with the best and most valuable content. Try to emulate the content creation strategy of your rivals or more established peers. Hire a content marketing expert and a passionate writer to create the insightful content your team will need to position yourselves as thought leaders in the industry.
5. Measure results
The final step is to collect data and analyze the results of your PR efforts. Measuring the level of engagement on social platforms, the return on investment of every dollar spent on PR, and the direct boost in token sales and prices you got for your campaign is an essential part of an effective token PR strategy.
These five basic steps should help you implement an effective token marketing and communications strategy. Of course, you can reach out to experienced PR firms and independent experts to take this project to the next level when you have the resources to outsource.