The Need for Marketing and PR for Blockchain Companies?

Blockchain has entered mainstream media to create a conscious imprint. Therefore in this piece, we will discuss how PR plays a major role for blockchain projects.

By · Nov 28, 2020 . 12min read

Marketing and PR for Blockchain Companies

Since the inception of Bitcoin in 2008, the blockchain and crypto industry has gained momentum over the years. It has slowly and steadily captured a major chunk of market capitalization in the digital financial asset industry. Moreover, with Ethereum providing an opportunity for developers to create Dapps, the industry has just grown bigger and better. The widely adopted cryptocurrencies – Bitcoin and Ethereum, have surpassed their previous all-time highs since the ICO boom to reach even greater heights. The future seems to be beyond conception with the ongoing developments in the crypto space.

The primary aspect that has played an essential role in the current scenario is intuitively leveraging Blockchain PR and Advertising. Communicating with the stakeholders about the company has evolved over the years, and even more so in the case of the Blockchain and crypto industry. This has led to capturing a broader audience in the blockchain space and educating them about the current company offerings, and thus, driving the ecosystem further.

Blockchain has entered mainstream media to create a conscious imprint in the minds of the users. The media is adopting it, not just on the digital medium but also on traditional platforms like print media, helping it. Thus actively promoting the technology to its target audience.

Growth Statistics over the years

Back in 2008, when Satoshi invented Bitcoin, the market capitalization was just a handful of dollars, and today it has reached a whopping $354 billion. The second-largest cryptocurrency, Ethereum, has been on a wild upswing, with its market capitalization surpassing $57.3 billion at the time of publication. Bitcoin alone has gained 193,639.36% between 2012 and 2020.

The global users of cryptocurrencies have surpassed 40 million. Analyzing the current situation, global blockchain and crypto markets intend to develop significantly. Apart from the globally acknowledged cryptocurrencies, various altcoins and DeFitokens have also seen a significant boom due to the worldwide adoption and features of blockchain technology.

Therefore it has led to a wave of innovation in the blockchain space. Individuals have continuously been building and developing ways to contribute to a safe, secure and privacy-focused financial space. PR and Advertising have played a significant role in supporting these innovations by creating an effective channel for companies to reach out to their stakeholders.

In this piece, we will take you through Crypto marketing dynamics, Blockchain PR and the need for marketing for blockchain and crypto firms to drive into the mainstream.

Educating the audience about emerging technology

Blockchain technology is nascent, and educating a wider audience about such nascent technology is challenging. Therefore, launching a new product in this industry without educating your target audience makes it very difficult for companies to achieve predetermined goals. The blockchain industry is a poorly understood domain with technical complexities. Hence, Blockchain PR makes it easier for audiences to understand complex topics by breaking them into simple chunks of understandable information. When the target audience familiarizes itself with the technology, there are higher chances of receptivity towards the product. Therefore, a practical PR approach emphasizes on the product use cases rather underlying technology.

Creating strong brand identity

A reputable brand receives credibility. An optimistic approach towards your company can lead to a competitive edge amongst your competitors. Influencing your target audience through PR can result in investment leads and customer leads. It helps in driving your overall brand valuation. Furthermore, it can help you position your blockchain company as a market leader in your industry, thus lowering advertising costs. Building credibility, especially in the crypto space, involves creating communities on social media platforms like Reddit, Telegram, Twitter and Discord.

Building community relations

In the current crypto landscape, community plays a prominent role. The probability of the project entering the blockchain mainstream majorly depends on community support. The community speaks volumes about the project’s success. Effective PR assists in building communities by communicating the project intention to a highly targeted and relevant audience. It further keeps the community updated with the latest announcements that would drive the project’s success.

Crisis Management and reducing additional risks 

An experienced PR firm is most required during a crisis event. It is capable of substantially improving your ability to minimize the magnitude of any potential negative publicity. Moreover, it can further assist in maintaining the credibility and reputation of the firm by releasing timely press statements. It can reduce exposure to obscured risks. Additionally, it reinforces faith in the community regarding the company’s further course of action. Although, it is essential to have trusted networks and connections who could uphold your reputation during the time of crisis.

A practical PR approach is vital to surpass the competition and create a strong imprint in the industry. It is essential that blockchain firms and crypto companies closely monitor all the facets to enter mainstream media. The right people, the right strategy and precise execution results in an ideal PR mix.

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