This is how PR can benefit blockchain companies
Without establishing a credible voice, how will anyone understand what you’ve built?
In a world that moves fast and breaks things, it can be difficult to know when a startup needs to take some of its energy off of building, and direct it to sharing what its building.This couldn’t be more pertinent in the world of emerging technologies; specifically in the blockchain, cryptocurrency and financial technology sector.
In a buzzword-laden space, filled with hot air, how can a startup stand out, and more importantly — what’s the cost-value of investing in story-telling efforts?
Having worked with a number of startups at different stages, here are some insights that can help in your media planning process.
Breaking down PR101
Traditionally, public relations (PR) is the management of information between a company and the public. Modern PR, commonly thought of as press relations, is the management of information between a business and the press, who are distributing it on to the public.
With an extra stakeholder, comes extra responsibility. Enter PR teams: specialists in taking what a business wants to say, re-angling it to appeal to what the public want to hear, whilst using a network of relationships to get that angle in front of a journalist who will want to cover it.
It may seem counterintuitive to rely on an intermediary to distribute your message, as a business built on the tenets of decentralization, but in reality it serves to strengthen your wider network.
When used thoughtfully, PR is effortless; where the experts on the product and ecosystem can join forces with a team whose expertise lies in amplifying specialist voices and opinions, to educate the press, who are experts at conveying the news and thoughtful investigations to the public.
The media matters in a fast-paced environment, where the facts change regularly. Journalists educate the public, and hold people in power to account.
And PR firms? They support journalists with access to startups that can be hard to find, whilst also assisting startups that are experts in their businesses, but haven’t got an in-depth understanding of the media.
In the world of blockchain, PR agencies act as custodians of startups, which aids the management of information in this sprawling ecosystem.
Here are four key reasons why you should consider engaging PR services:
1. To angle your story
When you work full-time on a product — or even live full-time in your life — it can be difficult to take an outsider’s perspective on what makes your story unique or interesting.
Whilst the “we’re putting [noun] on the blockchain” narrative has spawned countless parodies, a well-angled story, such as this one on the work of the World Food Program’s Building Blocks program, can provide thoughtful and meaningful education — without overwhelming anyone with jargon.
A PR firm specialises in seeing things in a multiplicity of ways, so can work with founders and businesses to evaluate what they’re building on, the messaging they’re surrounding it with — and even reminding founders of their own notable achievements, which are neatly repackaged into cohesive business stories.
2. To establish your name
In a world where anyone can register a .com domain and change their LinkedIn header to “Thought Leader & Angel Investor” it can seem futile to try part the waves of mediocre content.
But with the services of content experts, it’s easier for your startup to build that leadership profile — something that is all the more critical in a buzzword-laden industry like blockchain, which is somewhat plagued by dishonesty and misinformation.
Bitmain, the world’s top 10 and China’s second largest fabless chipmaker,is just over five years old yet regularly sells out of new Antminers in a matter of minutes — due to a reputation strengthened by the thought leadership of founder Jihan Wu.
It’s crucial to ensure your thought leadership profile is carefully considered. Sure, 100,000 followers are cool — but if none of them are actually acting on what you’re saying, or even that interested in the ideas you’re putting out there, what value are they providing?
A strong press presence is a must-have in crypto, as it lends credibility and boosts the entire brand’s reputation. With the assistance of a PR team, you can not only position yourself as a thoughtful leader, but you can ensure your insights are making their way to an audience that appreciates them.
3. To spread your name
If you’re into the decentralized ecosystem, you won’t want your presence centralised within an echo chamber. A PR firm has the contacts to spread your name beyond the constraints of Crypto Twitter.
This not only raises your profile amongst your peers, but extends your presence to new sections of your target audience.
Despite the reactionary and short-time gratification that the crypto sector can bring, it is critical that you build a long-term communications roadmap. Which sector do you envision your solution to revolutionise? Who are the people groups you need to reach, convince and educate? These are just some questions to consider.
That’s not to mention the importance of getting your story on a global stage. Your audience is worldwide, so why shouldn’t your message be? Whether you’re in Tallinn or Timbuktu, you’re competing with a global landscape to secure top tier hits that add reliability to your brand. Building relationships with these outlets takes time — time that a quality PR firm has already invested.
Ultimately, blockchain is not an industry but a technological tool that will reform multiple industries. It can never be too early to start educating these sectors on what this technology does, and how it can positively impact them.
4. To diversify your marketing efforts
As a 21st century company working at the forefront of cutting-edge technology, realistically your marketing and comms efforts lean heavily on the digital sphere.
But as we’ve seen with the Google algorithm changes killing mobile search traffic by 70% for CCN, or with Facebook’s sudden ban of all crypto-related adverts — relying on a single source of digital exposure sets you up to lose your entire carefully optimised strategy.
By adding PR to your marketing stack, you’re not just decentralising your coverage to beyond crypto; you’re expanding your marketing channels, and spreading your project to new audiences.
Still not convinced? Talk to us.
We live, breathe and dream quality journalism, and would love nothing more than to lay out all the best bits of engaging a PR firm can bring.
If you would like to work out how PR can help you grow your blockchain business feel free to check us out at www.yapglobal.com.
You can also contact Samantha Yap, YAP Global’s Founder & Director at samantha@yapglobal.com or reach out to us on Twitter @YAPGlobalTeam.
