Crypto and blockchain are probably the youngest sector of the modern economy. Bitcoin was launched nearly a decade ago, but most blockchain projects and cryptocurrency businesses are only a few years old. However, the rise of this small sector has been phenomenal. Now there’s an entire cottage industry of crypto-related services and tangential businesses.
One such critical service is public relations or crypto PR. Unlike the rest of the technology industry, the blockchain world has been quick to adopt traditional public relations techniques to streamline their message, control public perception of their team, and inform users across the world about the value their products or services create.
An experienced PR team can help any startup in this space raise capital, meet new investors, create a community of users, and attract the right talent to their team. However, there are some differences between crypto PR strategies and the regular PR roadmap. Here’s a closer look:
The need for competency
The blockchain community is entirely unique in the fact that thought leaders need to have genuine competency in the underlying technology to connect with their audience. Users and developers are quick to dismiss messages from a source who either doesn’t understand the technical aspects of the product or service or can’t explain it clearly enough.
This means public relations teams need to include technical experts who can distill information to new users and experienced developers alike. Unlike other industries, buzzwords and generalizations are of little user when the product itself is so niche and innovative.
Another factor that sets blockchain projects apart from regular startups is the fact that these ventures are decentralized. Users are more than just customers, they’re contributors, voters, and developers at the same time. Blockchain projects tend to rely heavily on network effects and this means a blockchain PR agency needs to help startups in this space create and sustain a sizable community for the long run.
Getting a blockchain project off the ground now means reaching out to institutional investors, angel investors, niche venture capitalists or savvy family offices. Collaborations and funding in the FinTech space mostly happen at industry events and roundtable investor conferences.
This is why a PR firm needs to go beyond the traditional strategies and create a robust network of qualified investors, experienced developers, and leading consultants in the space. These teams may also have to reach out to niche publications and micro-influencers to create traction for the project in its initial stages. They might also need a network of social media accounts that can amplify every message.
The technology industry itself runs in a tight circle of few key players. A handful of investors, thought leaders, and creators dominate the space. The concentration of top players is even more acute in the crypto sector, which means a PR agency really needs to go the extra mile to break in.
A PR agency focused on crypto and blockchain technology needs to go the extra mile and have the right skills and network to help make the project a success.