How PR Can Help Cryptocurrency Companies
With the cryptocurrency industry growing bigger with every passing day, plenty of cryptocurrency creators and blockchain start-ups have started popping up in various locations around the globe to offer custom solutions to various financial issues in the form of distinct mining strategies and code.
Companies in the cryptocurrency industry need a lot of help to get their messages seen by the customers and their solutions in front of the eyes of the target audience since the market has become so crowded.
Fortunately, with the right public relations strategies, even the smallest cryptocurrency companies can generate a lot of positive results through their promotional efforts.
Authority
These days, it’s relatively easy for people to become entrepreneurs in the cryptocurrency industry.
However, the businesses that can get ahead of their market competitors are the companies that are able to present themselves as industry experts.
That’s because these days most consumers and investors only want to do business with companies that understand the opportunities and possibilities that are presented by cryptocurrency and the blockchain.
With the help of a thought leadership strategy, companies can showcase their authority by becoming the go-to resource for any customer looking to invest.
Communication
The cryptocurrency industry does tend to be quite a fast-paced space, which means to achieve more success customers need to feel as if they’re always ahead of all their peers.
Through constant communication, cryptocurrency companies can ensure that their consumers and communities are always going to be getting information of what the business is going to be doing in the future.
This helps companies to create a degree of reliability, as well as more transparency that many consumers these days appreciate.
Transparency
It doesn’t matter which industry or market a company belongs to because credibility is an essential element in generating more sales and developing more trusting relationships with loyal customers.
Many consumers these days need to know that they are able to trust the business they’re trying to work with.
In fact, this is especially important for businesses in the economic field.
Fortunately, with the right public relations strategies, companies can create a higher level of transparency with their target audiences.
To do that, they need to show the investors what makes their solution particularly valuable for solving their needs or pain points, before they get to the point of asking the customers to convert and make an investment into the business.
Marketing
Companies in the cryptocurrency industry need to create their own marketing and promotional strategies.
Instead of simply announcing the brand new iteration of a business or its solution on social media platforms and hoping that’s going to attract consumers and investors, every business needs to have its own promotional strategy.
That strategy needs to be based on the company’s needs and expectations, as well as the goals it wants to achieve.
In today’s market where there is a number of different cryptocurrencies available, and several of them are constantly increasing in value, the companies that want to get more of their consumers’ attention need to work for that attention and invest a lot of time and effort.
Cryptocurrency Branding and PR Platform
Companies in the cryptocurrency industry need to be able to showcase what they’re all about and how they stand out from an otherwise incredibly crowded market and do so succinctly and eloquently.
Brand development and brand platforms are all about getting companies to distinguish themselves from everyone else, and the best way to do so is through audience and market research.
With constructive research, companies can get a better understanding of what’s going to be a lot more relevant and effective for their brands, and all of the mistakes they need to avoid so they can succeed.
With a successful brand, cryptocurrency companies can add more meaning and character to their communication and PR efforts, and even their solutions, which are all going to distinguish the company from its competitors.
Purpose
A brand purpose might seem like an essential component that every company needs to have to succeed these days, and research supports that fact.
Nearly 89% of consumers have stated that they’re a lot more likely to do business with a company if that business has demonstrated a willingness and commitment to address various environmental, economic, or social issues.
That’s where the brand purpose comes in, which is simply the reason why a company exists and does what it does.
However, cryptocurrency companies don’t need to limit themselves to economic, environmental, or social issues, and instead, they can research and learn more about what the consumers truly care about and then try to solve that problem in some way.
Character
When companies are looking to create their brand character, they also need to invest in creating a brand tone that’s going to be used in every communication effort in the future.
With a high-quality brand character, companies can easily describe how they can help their consumers solve their pain points.
Additionally, when a business is developing its brand character, it’s important to remember that it shouldn’t be limiting itself to a single character archetype.
There’s no need for companies to be one-dimensional to appeal to multiple audiences.
Promise
The brand promise is another essential element when it comes to creating a company’s branding and platform, as well as promoting more common products in a market that’s already oversaturated like cryptocurrency.
For instance, the soda market is another oversaturated space, and how many differences can so many companies have to truly set themselves apart from each other.
However, with a brand promise, companies can create a difference by adding more emotional value to their products and attracting more consumers, similar to the way that Coca Cola functions to establish itself in the market and attract more consumers.
While the brand’s products aren’t inspirational in and of themselves, the branding and messaging that the company uses quickly transform its soda drinks into a product that’s a lot more than just a drink to the consumers.
Ronn Torossian is the Founder & Chairman of 5W Public Relations, one of the largest independently-owned PR firms in the United States.
With over 20 years of experience crafting and executing powerful narratives, Torossian is one of America’s most prolific and well-respected Public Relations professionals.
