Advertising is saying you’re good. PR is getting someone else to say you’re good.
The first thing to getting anyone to talk about you or endorse your product is to build a relationship out of trust. Trust is one of the most underrated commodities in our nu-marketing world of analytic data trends and chasing the next key performance indicators. Yet, when it comes to your blockchain or cryptocurrency projects — be you an ICO or an enterprise company, one thing that equates throughout the entire crypto community is endorsements in one another projects and brands.
Surviving in a cryptocurrency community without building your brand around your trustworthiness and honest reputation can altogether break your project down to rubble. The ICO bubble not only caused a lot of new investors to become attracted to buying in to crypto, but the failed projects have also shattered reputations across the board of products that are seeking press, funding, or growth before any tangibles have been released.
So that is exactly why you need the right PR team by your side in the early days of your project, and here are the most important questions you and your team need to be asking your potential PR partners.
Who else have they worked with?
Crypto-industry projects are unlike anything else, and that means that the run-of-the-mill public relations strategies will not resonate at all in this wild territory. There are specific ways to earn success in pitching mainstream media crypto projects, and there are certain relationships that need to be fostered to utilize the world of crypto influencers and investors. No matter how well-known, high-brow, or fancy the PR agency’s offices might be, if they can not give you tangible examples of past blockchain projects they have worked on and relationships they have within the community, then it is worth taking a look at some other options.
How did their past clients fare?
Number one leads to number two here, and just because the agency has relationships or past experience with ICOs or other blockchain projects does not mean they had successful impact with their strategies. A lot of pr agencies will try to sell “guaranteed” coverage, and although having a spread of great niche and mainstream outlets listed to you as sure-things it doesn’t automatically mean that the coverage will be right for your project. Instead, make sure you are asking questions about how they customized their approach to the individual needs of the clients. Examples of great questions to ask, include:
Has the PR agency helped pre-funded companies reach successful funding?
What types of coverage did they gain for the campaigns?
What was there level of involvement and length of partnership?
It never hurts to look at projects you admired, Google some of there news coverage and get to the bottom of who they hired to do there PR. If they are used to working with your type of blockchain project, then they might be the right fit.
Do they ask you a lot of questions?
Good PR agents will always ask you ten more question than your probably expected to have to answer, and this is for good reason. Public relations is about communicating your vision to others and helping relationships form and grow, so they more your potential PR agency wants to know about you, your team, your project, and your odd hobby of collecting Ty Beanie Babies, the more they are able to build a relatable narrative about you and your project for reporters. The best agencies will happily turn down projects that they do not feel like they will benefit, because they know there own worth. Know that, as you are vetting them, they are vetting you right back, so be prepared.
Just note that after you begin a partnership with your chosen agency, the questions won’t stop — but that is a good thing! PR agents need to constantly talk through what is going on with your project and team, all successes and failures, so that they are actively prepared to share and communicate the vision and goals of your company.
Don’t Skimp the PR Budget
Bill Gates famously said, “If I was down to my last dollar, I would spend it on public relations.” That's because a good public relations and communications partner can create 10 times the ROI for your brand and project. However, this is often the first place where early-stage companies attempt DIY or slide over to an unpaid intern to try to do. The biggest mistake you can make. Having a good partnership with the right PR agency will pay its weight in BTC if given the chance to grow. Trust us, when you find that PR agent and agency that just gets your vision, you will understand the value added will take you to the moon and back again.
Ask questions, these ones and your own, and always remember that the more open and honest your relationship is with your PR team, the more they can share your bold visions with the world.