The competition in the crypto industry is ever-increasing, with dozens of new crypto companies and projects launching every other day. According to Crunchbase, there are around 1,944 crypto startups today, with an average founded date as recent as April 2019. This has made it challenging for many crypto companies to stand out and gain recognition from potential investors and users. And that’s where PR for crypto brands comes in.
Crypto PR can help you build credibility and promote your crypto project to gain suitable investments through ICOs. But that’s just the tip of the iceberg when it comes to why you need crypto PR.
The Role of PR in Crypto Marketing
PR or public relations play a vital role in crypto marketing by making the crypto brand more appealing to investors. Here are some ways in which PR for crypto can benefit your company:
Attracting Investments
Crypto companies can increase their appeal to potential investors by generating positive media coverage and establishing a strong online reputation. This can be especially useful for startups looking to generate funding through ICOs.
For example, NEO, dubbed the Chinese Ethereum, received support from the Chinese government, Alibaba, and many other companies to get good investments for ICO, thanks to a good PR plan.
Developing a Community Base
PR can help you create and grow your crypto company’s industry presence and build a loyal following. You can achieve this through social media engagement, community outreach, and events.
A solid community base is vital to create a sense of belonging and loyalty among users, something that’s very important in the crypto world. This can lead to an increase in the adoption and growth of your project. It will also increase the support your crypto users get because the community members can help each other.
Building Trust and Credibility
One of the key benefits of PR for crypto marketing is building trust and credibility with potential investors. When top-tier press publications talk about a crypto project, it brings a sense of trust among its audience.
Moreover, press features in leading publications also lend credibility to a crypto company or project. A user is much more likely to trust and invest in a crypto project when it’s mentioned in Forbes or Bloomberg.
Crisis Management
Crisis management is critical in the highly volatile crypto world where users have a trust problem. With so much at stake, a misstep or adverse event can quickly erode trust and credibility.
Effective crisis management through positive PR can help crypto companies respond quickly and transparently to negative events.
If you can update and practice your PR-based crisis management plan, you can stay ahead of your competitors in the crypto world. According to PR News, only 62% of companies have crisis plans, and even fewer update them regularly.
Conclusion
The role of public relations (PR) in crypto marketing cannot be overstated. Effective PR strategies in today’s highly competitive and fast-paced industry can help crypto companies stand out, gain credibility, and reach their target audience more efficiently.
You can get all these benefits and more by hiring a professional crypto PR agency like Digital Nod. Our expert PR professionals have years of experience promoting crypto companies and their projects. Contact us today to promote your brand through PR for crypto and take your project’s popularity “to the moon!”
