Crypto’s relentless volatility is nothing new for seasoned traders and investors. However, traditional marketing and public relations experts may find the intensity of the market overwhelming. It’s simply difficult to execute a long term marketing plan when the market’s sentiment changes on a whim.
With that in mind, entrepreneurs and marketing professionals may want to focus on strategies that work regardless of market conditions. Here are three cryptocurrency PR tactics that can help your team generate and sustain buzz throughout the vicious crypto market cycle:
1. Community building
Creating a base of dedicated followers and passionate supporters is the holy grail of good digital marketing. The network effects of an online community are impossible to ignore. People who believe in the project will stand by it even when things go wrong and the market price of the underlying token starts to depreciate.
Ethereum’s online community is, arguably, the most robust. True believers and maximalists have kept their faith in the ethereum network even when the value of each token plummeted and the developer team missed several deadlines to upgrade the network.
By hiring community managers who can interact with your project’s followers, offer insights into the team’s progress, accept criticism, and honestly answer questions online you can create a similar community around your project.
Another all-weather cryptocurrency PR tactic is the good ol’ airdrop. People love receiving something for free and that doesn’t change regardless of the historic value of the airdropped token. Sending a broad set of users a small amount of tokens is a cost-effective and streamlined way to draw attention to your project.
The airdrop tends to draw in speculators during boom times, but it could help you grab the attention of long-term bulls and bargain hunters during the market bust. The humble airdrop is a perpetually reliable marketing engine you must incorporate into your PR strategy.
3. High profile partnerships
Famous brands and household names garner attention regardless of market conditions. Any tangible partnership between a big corporation and a blockchain startup is newsworthy and tends to overshadow the dominant mood of the market.
Research partnerships with major universities, a deployment with a major enterprise client or a working partnership with an industrial giant could lend credibility to your project and inspire more users to adopt the platform.
There’s no doubt news of a new partnership will help you gain publicity, but even a regular update on an existing partnership or a meaningful interaction with a high-profile business leader (looking at you, Elon) can generate positive buzz and mainstream awareness for your project.
Nearly the entire crypto industry is on a long-term journey to redefine the global economy and decentralize the financial world. Lofty ambitions like these take time and the core responsibility of any marketing team is to ensure the network of users and developers that make the platform work stay invested for the long haul.
The three PR strategies outlined here could help your project weather any storm or stand out when the market is overcrowded. Creating a community, airdropping free tokens to long-term supporters and mentioning major partners frequently could help cement your team’s network.