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Public relations or PR is a critical element of any business. But the decentralized and crowd-driven nature of cryptocurrency projects makes effective cryptocurrency PR a lot more vital.
Dealing with a broad pool of global investors, managing a cohort of developers, and
maintaining the transparency users have come to expect from the finest projects
in the industry is a time and labour-intensive endeavor. Most new projects fail
within the first few months simply because not enough people signed on early
enough to get the product moving forward. So, before you get started with
launching a new coin or developing a new blockchain, here are some crypto PR
basics you need to know:
1. Send a clear and legible message to everyone
The first step for any new business or PR team is to pin down the nature of the project
and explain it in plain English. Assume every new user and new developer has
cursory knowledge of the industry, even if this isn’t true for everyone.
Clearly explaining what you do, which problem your project solves, and why your
team is best equipped to manage the venture is a critical first step before you
launch your cryptocurrency.
2. Talk to the media
The next step is a cornerstone of modern PR strategies. After you’ve condensed and
simplified your message, it’s important to garner some mainstream attention
through media outlets. These don’t need to be mainstream publications like the
Times or the Washington Post, but a feature on the more tech-focused the
Verge or the more business-focused Motley Fool would be a great
place to start.
3. Seek out influencers
Like any other industry, crypto is now dominated by micro-celebrities who wield enormous influence over their social media followers. Finding the right influencer is tricky. Popular influencers won’t consider your project if your just getting started and tend to charge much higher than average. On the other hand, micro-influencers may charge less but their message reaches fewer people. You can strike the perfect balance by measuring engagement rather than simply follower numbers when picking an influencer. Hive.one is a great place to get started with your influencer outreach.
4. Focus on the core community
Cryptocurrency PR is all about kickstarting social momentum. You want to get the word out and get the ball rolling so that early adopters can reach out to their friends,
family, and co-workers to get them on-board. Every new user brings multiple
other users to the platform and soon this network effect creates exponential
growth for your project. The key to this effect is to treat your core users and
early adopters with care. Give them special incentives and encourage them to
become advocates of your brand as soon as they can.
The basics of cryptocurrency PR are the same as any other good marketing strategy – create a clear message, send it out to as many people as possible, and nurture
engagement. A greater focus on community and decentralized principles is what
sets crypto PR apart from the rest, and that’s what makes this a greater
challenge when you’re just getting started.
EAK Digital is a leading Global Blockchain PR Agency that works with Blockchain start-ups to help them gain mass media coverage across both mainstream and crypto publications alike.