Public relations (PR), in its most basic form, is the practice of managing and shaping the perception of a company or individual. But Crypto PR gets a little more intricate with plenty of nuances and different use cases.
With cryptocurrency, PR can get a little tricky. Crypto is a relatively new industry, highly innovative, and at times, can be quite volatile.
When you combine those factors with the idea of educating people that crypto will transform how we conduct financial transactions, the messaging can get confusing. Therefore, crypto PR (AKA Web3 PR) must be easy to understand, concise, and engaging.
This article will cover how crypto PR isn’t just about image, some of the most effective tactics, and specific examples to showcase our points.
What is crypto PR?
Crypto PR is the art of shaping public opinion around cryptocurrency projects and platforms. It’s sharp-focused on creating awareness, trust, and understanding in an industry often seen as complex, elusive, and undeserving of trust.
Unlike traditional PR, it requires the deciphering of technical jargon into layman’s terms — combining education and PR. This includes demystifying blockchain technology, promoting transactional transparency, and building investor confidence amid market volatility.
Additionally, crypto PR can deal with rapid changes, meaning acting quickly often benefits more than it hurts.
But what does crypto PR actually entail?
Components of crypto PR
In general, there are three primary means to “do” crypto PR: social media, published content, and building a community.
Several projects have exploded after doing simple yet excellent social media marketing on Twitter. And while they might not all be as effective as these tweets from Elon Musk, using Twitter (and other social media platforms) to promote and manage public relations is effective.
For instance, consider Twitter’s nature — if you get on the right people’s feeds, it’s a stomping ground for crypto enthusiasts and experts. When a crypto project tweets about a new feature or a milestone, it generates buzz.
Not to mention, social media isn’t just about broadcasting. It’s about conversations and virtual relationships. An interesting dialogue can spark new perceptions of your project within a blink of an eye.
Another part of social media is influencer marketing. While it’s never financial advice, the crypto influencers and voices of opinion command serious influence and respect. When a reputable analyst shares insights about a cryptocurrency, it can significantly sway public interest and even market sentiments.
Lastly, consistency is a significant part of social media. As one of the principles of persuasion, having your project continually pop up in the feed increases your brand awareness. It’s a perfect way to stay top of mind and “relevant.” At the end of the day, social media is about connecting with other people consistently.
Beyond social media, another pillar of crypto PR is published content. A well-articulated piece can illuminate the complex world of crypto, build authority, and foster trust. There are three main types of published content: press releases, thought leadership articles, and editorials.
Press releases are the bread and butter for announcing any new developments, partnerships, or milestones. For instance, when a cryptocurrency launches a new utility token, a press release distributed across major news outlets and crypto-centric platforms like CoinDesk can drum up attention.
These press releases are what you expect to see linked on Twitter from an authoritative account. And it’s essential to keep press releases concise and fact-based, providing the audience with just the right amount of information.
Thought leadership articles take a deeper dive. By sharing insights, analyses, or predictions, they build authority and trust with both new and existing users. Imagine the CEO of a crypto exchange penning an article about the future of decentralized finance (DeFi). The article would accomplish exactly what it’s supposed to.
Lastly, editorials help organically increase awareness. Unlike press releases and thought leadership pieces, editorials are usually more subtle in promoting a brand. For instance, a listicle including five companies in a specific niche would count.
Or a feature on how blockchain technology is revolutionizing supply chains might mention a crypto project as an example. This way, it’s not a direct promotion but rather an indirect nod to the project’s relevance and utility.
Generally, published content helps get you positive public attention. And once you’ve got their attention, you need to bring them into your community.
First, let’s talk about the platforms. Discord and Telegram have become havens for crypto communities. Discord, with its server-based structure, allows projects to have different channels for various discussions, announcements, and engagements. Telegram acts more like a chat room, where real-time communication is emphasized (like Twitter, but with guaranteed reach).
Let’s use an example of a growing crypto project. In the early stages, the developers might establish a Discord server or Telegram group to keep enthusiasts and early adopters in the loop. They might post on social media and use published content to drive traffic to the community.
As the project matures, these platforms transform into hubs for community engagement, support, sharing ideas, and even troubleshooting.
Community building also extends to forums like Reddit, where subreddits dedicated to specific cryptocurrencies are abundant. For instance, the Dogecoin subreddit played a significant role in rallying the community and even impacting the market during the Dogecoin spike in early 2021.
Additionally, having a community is invaluable for feedback. When a crypto project rolls out a new feature or faces challenges, community feedback can be instrumental in shaping decisions and improving the product.
How to develop a crypto PR strategy
Here’s a guide to developing your crypto PR strategy:
1. What are your goals?
Always start by understanding what you want to achieve. Are you looking to build brand awareness, attract investors, or build a community? The route you choose might look different and require a different approach.
2. Know your audience
Crypto is diverse, and so are its participants. Know who your audience is — whether it’s investors, traders, developers, or the general public. Personalizing your message so it resonates with your audience is the number one priority for successful PR.
3. Choose the right platforms and mediums
Based on your audience, choose the platforms that would be most effective. For instance, Discord and Telegram are great for community building, while Twitter and LinkedIn can be more effective for reaching professionals and investors.
Then, begin posting, and do it consistently. Your goals should be to stay at the top of your audience’s mind while bringing them value through what you post.
4. Create a unique voice
Your messaging should be clear, concise, and consistent. Since crypto can be complex, ensure that your communication is easy to understand. And when you use a voice that’s true to you, it radiates authenticity.
While press releases and editorials may be written by other writers, the content you post in your communities and on socials will help connect you to readers.
5. Monitor and adjust
Luckily, all the platforms listed allow you to get data on views, likes, shares, and comments. Be ready to adjust your strategy if you’re not achieving the results you want.
Additionally, you may not have the connections to get editorials, press releases, and thought leadership posts in the right places. And that’s where a crypto PR company can help connect you with your audience by posting your project exactly where your audience hangs out.
Working with a crypto PR company
When you want to execute a successful crypto PR strategy, it can seem daunting without the right websites to post on and writers to get your story out there or generate hype.
How do you do it?
Working with a Web3 and crypto PR company can save you the time it takes to get your project out and in front of your audience. At PR Genius, we have the connections to take your project to tier-one media outlets.
Our specially designed performance PR model is perfectly catered to web3 companies because of its flexibility and efficiency. The crypto industry demands quick reactions and agility, and a performance based PR model is the perfect way to deliver both. Only pay for what you need, when you need it. No questions asked.
Contact us today to get started.
Crypto PR is an intricate web of communication, content creation, and community building. However, a well-executed crypto PR strategy can catapult your project into the limelight, build trust, and bring a loyal community.
Be it through engaging social media campaigns, informative published content, or the nurturing of an inclusive community, every facet of crypto PR has its role to play. Either way, it’s an indispensable tool for your advertising arsenal.