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When Steve Jobs wanted to market Apple’s first product, he physically took it to trade shows and retail locations to give potential buyers a first look. Demonstrations in front of a live audience and workshops in classrooms helped Jobs kickstart what would eventually become the largest technology company in the world.
Bootstrapping marketing efforts may have worked in the 70’s, but the world has changed a lot since then. A new and innovative technology startup now faces hundreds of others in the same market spread across the world. The surge of venture capital, private equity, and angel investments has flooded the market with ample resources. This means even a mediocre startup team now has access to the best marketing experts and public relations gurus from across the world to help them build their company and spread the word about their products.
Meanwhile, crowdfunding platforms and social media have helped savvy entrepreneurs reach out to millions and establish successful companies surprisingly quickly.
With this in mind, the average crypto startup needs a thorough marketing and PR strategy to face the competition and stand out from the crowd. While it’s still possible to launch a new blockchain token or issue a new coin without any professional marketing strategies, with limited time and resources the odds are stacked against the average crypto team.
The need for digital marketing goes beyond sales and funding. Here are some of the reasons traditional PR for coin marketing is an idea worth considering:
1. Reduce costs
While most entrepreneurs are concerned about the costs of hiring a PR or marketing agency, pragmatic business leaders understand the value of delegation and outsourcing. Reaching out to a third party for contractual marketing work helps magnify your team’s efforts. A good PR team can streamline the sales funnel, helping you attract more users to the platform in the most cost-effective way.
2. Attract talent
The most often overlooked component of creating a startup is attracting and retaining top talent. Effective PR for coin and crypto projects can help position you as a great employer. When you’re recruiting, top-notch agencies can get the message out to the best developers and most experienced managers to help you grow the business and expand the project.
3. Secure the platform
PR for coin agencies don’t just deploy traditional marketing strategies. Savvy agencies can organize hackathons and implement bounty programs to help you find bugs in the platform before launch.
4. Convince Investors
Networking is the primary objective of a professional PR firm. These firms create value by getting you in touch with the right investors and getting your product in the right hands so that your next funding round is as smooth as possible. From an investor’s perspective, hiring a PR firm shows that your team is well-prepared, far-sighted, and dedicated to getting the project off the ground.
As the general technology sector gets more crowded, hiring a professional PR firm for marketing and communications is likely to become more of a necessity over time. Crypto startups and blockchain entrepreneurs can stay ahead of the game with the right agency to support them.
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.