Bitcoin, and its underlying technology, blockchain, has finally become too big to ignore. The digital asset, which is worth more than both Visa and Mastercard combined, has been adopted by everyone from retail day traders to America’s oldest bank, BNY Mellon.
This has opened the floodgates to a global acceptance of digital currencies, and now hundreds of blockchain companies are surfacing across the globe. This has made it increasingly important to develop effective communications strategies that will help you insert your company into the media narrative.
Blockchain is notoriously complex. Some journalists are very familiar with the benefits of the technology, while others still need to be educated. Having a tailored media, brand and communications strategy to reach your audience is critical.
Allow us to break down the components of blockchain PR and how they enable you to get your angle presented around the world.
Why should you invest in crypto or blockchain PR?
At YAP Global, we work with meaningful fintech, digital assets, blockchain and cryptocurrency companies to shape stories that should be heard on the global stage. We act as a bridge between quality journalism and emerging technologies making a difference in the world.
A tailored media and communications strategy will improve public understanding of how your project can positively impact the world. Bitcoin and cryptocurrency is gaining global and institutional traction, and will inevitably become an increasingly important part of both national and global financial systems.
But many mainstream media publications and some cryptocurrency publications still need to be educated, as the pace of this rapidly changing and growing industry moves mind-boggling quickly.
Companies must focus on improving, upgrading and scaling their technology, and require efficient teams who can help translate and communicate their business developments and core message. If companies cannot communicate their messages effectively, they will fall behind.
So what is crypto public relations (PR)?
In summary, PR is an organic way to share news and information about your company, product or project without sponsorship or paid messaging. We live in an age where consumers are constantly bombarded with advertisements and messages, so it can be difficult to cut through the noise.
PR is different to advertising because your story is shared by journalists, podcasts, TV and radio hosts who genuinely believe in your project. This is incredibly powerful, particularly in the crypto and blockchain space where readers take niche media like CoinDesk, Bloomberg or Cointelegraph very seriously.
Allow us to break down some of the main components of PR and why it’s important for enabling your business to succeed.
What does crypto PR and media relations entail?
Many blockchain, fintech and crypto companies are surfacing in this industry. But this means that there are countless messages, with companies all competing for the same media opportunities. This can make it challenging to get your message and point across to the world.
An effective PR strategy and campaign is essential to organically proving the impact of your company by showcasing your work through compelling stories in the media. By aligning your work to current events and demonstrating how your company will impact and resolve current issues, you can illustrate why your company matters now.
By preparing strategies around your upcoming announcements, including partnership announcements, major upgrades or new technological developments, an effective PR strategy will allow you to share the news with leading influencers, journalists and publications who are looking for solutions to key issues in the industry.
It is important to create a tailored strategy for each announcement. For example, a token integration story may be relevant for the cryptocurrency community, who would be interested in understanding why your alt-coin is a worthwhile investment.
A token integration story will not usually be relevant for more mainstream publications like Bloomberg or Forbes Magazine. But if the integration of your token will enable communities in a country to access crypto who desperately need alternatives to inflating currencies for example, then the strategy of the token integration can be tailored to suit the relevant audience.
Strategic communications involves speaking to key media with the right message, at the right time, in a language that they understand. The fintech, blockchain and crypto industries are full of niches and jargon, and we take pride in being a truly creative blockchain PR agency who develops deeply targeted strategies that land your story in front of the specific audience who will discover your brand.
One of the most crucial components of a communications strategy is defining what lies at the core of your unique business proposition. Identifying what you have to offer above your competitors or what expertise you can offer to both tech and mainstream journalists will enable you to tell a compelling story and become a trusted and reliable leader of your industry.
We undergo an extensive brand positioning workshop to undergo a complete media audit, which involves identifying existing media coverage on your brand to understand how the media perceives you.
To get to the heart of your brand, we deep dive into everything from your target audience, the pain points you solve, your media target wishlist and your competitors, to your one-liner and mission and vision statements.
This ensures your media messaging is consistent, compelling and inspiring. The material generated from these workshops can be used for your company’s marketing purposes too.
Creating a crypto PR timeline
So you’ve built your brand strategy and you’ve got your exciting news in the pipeline you want to shout to the world about. How exactly should you tell your story?
An announcement is your opportunity to go far and wide with news about your company’s development, partnerships or achievements. To do this, you need to firstly establish what you’re announcing via what kind of information, whether that be quotes, data and statistics, official commentary from a partner or any other important details that will help a journalist understand why this is so important.
To craft this strategy, identify what you are announcing, what impact it will have in your space, why people need to know about it right now and how your business is solving the issue by providing a solution.
A feature story is an in-depth feature that often involves a deeper dive into the human-interest element or industry relevant aspects of a story.
Feature stories are a way to provide much more context to the work that goes on behind the scenes of your business. These stories differ from news announcements in that they encourage readers to think about the bigger picture.
They offer companies a chance to talk about the wider industry and purpose of their products and where they fit in, to inspire more engagement from different audiences.
They are usually more evergreen in that they are universally relevant, and go in-depth into the full story behind a company, your leaders and your technology.
An opinion piece is an article that reflects its author’s opinion about a subject. This can be on a cause close to your business’s heart or an industry issue or event that you want to dispute. Opinion pieces are a great way to build individual profiles and thought-leadership and trust for your company by sharing sentiments aside from company news.
A strong PR team can support its clients in identifying opportunities where opinion pieces can help communicate their vision to the media. PR teams will assist in writing elements of opinion pieces, ensuring there is a bias check in place as they should never sound overly promotional or plug your company.
You can see an example of an opinion piece below. Our client Nexo believes that widespread financial literacy is the key to the successful adoption of digital assets and participation in the blockchain industry. A PR team can help you structure your hopes, ideas and expertise to create a cohesive argument for whatever issue you deem critical in your industry.
Crypto and Blockchain Media Events: Physical and Virtual Conferences
As the official PR partner of the digital asset industry’s largest events, CoinDesk’s Invest conference, flagship Consensus events as well as EthCC, SCB 10X, Reset Everything and Blockdown, we understand how crucial thought-leadership and networking events are for a business.
Event appearances are another way of building awareness of your company and contextualising your clients among their peers on panel discussions or roundtables. They are a chance to take a more personable approach and put a best face forward as a thought leader in your niche.
These events also rally incredible numbers in attendees and audiences, and as a result can feature fellow industry leaders, journalists and sometimes political figures. We have worked on various events where numbers reached up to 10,000 attendees.
Building Relationships in the Blockchain Space
Building strong relationships and more importantly, trust with journalists is very important in PR to ensure you have strong networks of reputable reporters who will be interested in exploring your stories. We have built relationships with journalists across print publishing, online, podcasts, radio shows and TV and even despite the pandemic, have had regular zoom calls with many of them.
These relationships are key to ensuring a strong and consistent media presence for your company.
Reputation Management and Crisis Communications
A crisis situation can be damaging to a company’s reputation if it is not handled properly. We believe it is crucial for all businesses to have a clear crisis communications plan in place.
Time is of the essence in a PR crisis. Social media tweets or posts can spread like wildfire as uninformed opinions become unofficial stories. It is important that you can prepare official statements to manage and control the media narrative, ensuring the messaging is consistent and media interaction is limited.
A strategic communications plan could either make or break a business, and is vital to protecting brand integrity.
Sharing company developments and engaging explainers in the form of blog posts and articles is another component of PR.
It is important to maintain a voice behind the scenes of media coverage and produce a steady flow of content for people following your company’s work. PR teams can help produce ideas for content, calendars for implementation and ensure that everything you put out into the world is engaging and on brand.
We have crafted mini-series and educational content for previous clients to support their company’s voice in sharing updates for both existing and prospective customers.
Lastly, a very important part of PR is your individual media presence and this is where media training with professionals is needed.
Media training can help you build confidence, nail your stage presence and perfect your tone of voice to represent your business as you should.
A good PR team can prepare you for everything from podcast appearances to global conferences, to presenting your company to new users completely unfamiliar with what you do.
Media training can cover the different types of interview formats out there, how to present your points under pressure, or bridging techniques for when you don’t feel comfortable with a question and more.
A key technique to know is the ABC Technique: ABC stands for Acknowledge, Bridge, Carrot.
- Answer the question. Avoiding the question comes across negatively. It does not take away the heat either, because a good journalist will see through it and keep asking the question.
- Bridge between your answer and the message that you intend to send. Find a way to naturally connect one to the other. This is where your preparation can shine.
- Give the questioner a carrot. Shift the situation into an opportunity to talk about the positive and exciting things your company is doing.
You will learn how to avoid journalists attempting to catch you off guard and mis-quote information. It is also important to help you learn how to work with the different types of media which we will go into in more detail below and develop relationships with reporters so they can trust you and your company.
A PR team can also set up media training scenarios where role-play helps prepare you for the real interactions with the addition of the option to record, watch back and receive feedback on how you did.
And that concludes our overview of PR strategies and collaborating with an experienced PR team. We hope you found this helpful and have a better understanding of how PR can fit your business model.
The YAP Global team. x