Shopping around for a public relations or PR agency isn’t easy. Communications are an abstract aspect of business that can’t be measured or planned the way finances or human resources are. In the world of blockchain technology and security token offerings, things get even more complex.
With the rise of alternative funding structures and a new crypto-based asset class, demand for talented professionals who can explain these complicated instruments to the average investor or user is at a peak. Although a number of firms have cropped up in recent years, finding a top-notch STO PR agency that can deliver a successful funding round is still woefully rare.
For entrepreneurs and institutional investors who are just getting started, following the unwritten rules of hiring a great PR agency could make all the difference:
1. Focus on the chemistry
The key to a successful agency-client relationship is good chemistry. PR agencies shouldn’t be thought of as outsourced labour, but rather as a natural extension of your core business. While working with a PR firm, you’ll probably be having regular meetings where you divulge critical information and discuss long-term strategies for your venture. With this in mind, the agency needs to have the right culture and right work ethic to suit the rest of your team.
Shared values and an alignment of perspectives is essential.
2. Size is immaterial
A common mistake is to assume that a larger firm with a bigger workforce will deliver better results. PR has no intrinsic economies of scale, which means the size of the team or the company’s brand will have little to no impact on your end results. Instead, a smaller team with the right experience and more passion will be able to deliver better results for your venture. In fact, a smaller team may be more flexible and willing to go the extra mile to meet key targets.
When it comes to PR, expertise and creativity trump size and location. An STO PR agency needs to have the right network in the right places to push your funding process to the next level.
3. You can’t manage what you can’t measure
Assuming that there’s no clear way to measure results is another common mistake. Despite the intangible nature of PR, the investment in communications need to be justified not only to the company’s managers and board but also to the investors. Measuring the impact of your PR efforts will also help you fine-tune the strategy as you go along.
With this in mind, hiring a STO PR agency with a concrete strategy for measuring the end results of every piece of communication or message sent out to the public is essential. Factors such as views, engagement, shares, and direct sales are a vital part of the return on investment calculation every team will eventually have to do.
Avoiding these common mistakes and following the unwritten rules of hiring a PR agency will help you take your blockchain project or crypto venture to the next level with minimal friction.