First went the airlines, then the travel industry as a whole. Restaurants followed suit, along with bars, clothing stores, cafes, and before we knew it, every major industry was hit hard by the pandemic that is reshaping life on planet earth. Two industries that have not yet gone under are finance and crypto, and it’s important to make sure they don’t—for everyone’s sake. While it’s unclear what will happen with the former, and how it will affect the latter, there’s an apparent path to victory here for cryptocurrencies if evangelists and companies in the space communicate the ideas behind various coins and blockchain applications effectively. It’s up to the coin PR agency to ensure that happens.
Here are three things a crypto PR agency should keep in mind when promoting blockchain and crypto companies during the pandemic:
1. For crypto, it’s life and death
One of the most important things to remember for any coin PR agency seeking to boost its clients is that most crypto and blockchain companies are startups, and startups are always hit hard by economic shocks and crises because they are fragile and still working to stand on their own. Unlike for large, established companies, startups seeking professional PR work aren’t merely looking to boost their brand. For them, coverage, thought leadership, and speaking opportunities represent the lifeblood of everything they do. Barring startups that are funded by massive investors, most young crypto entrepreneurs use coverage as a sort of credential to catch the attention of investors that enable them to quite literally continue existing.
2. Keep an eye on the U.S. government
Prior to distributing the coronavirus relief stimulus checks, there were murmurs around Capitol Hill about using blockchain technology to get treasure money in citizens’ hands. The discussion reignited the debate surrounding a potential U.S. digital dollar. It’s unclear what kind of effect a digital dollar will have on major cryptocurrencies, such as Bitcoin and Ethereum, or on blockchain-based companies, but great crypto PR services can help ensure the advent of government-backed digital currencies work to help existing companies and currencies rather than destroy them.
How, one might wonder? That strategy depends on the company in question. For blockchain applications, the strategy might be to position the company as the perfect supplement of a national digital currency, while for Bitcoin, it would be more pointing out the flaws of the centralized digital currency and positioning Bitcoin as the superior alternative.
3. Learn finance, and learn it well
One of the biggest critiques of the cryptocurrency industry is that its experts tend to be much better versed in the technology side of things than they are on how finance works. In order for a coin PR agency to successfully promote its crypto clients, becoming familiar with financial concepts, markets, and news is a necessity, not a luxury. The two worlds are intertwined and it’s not enough to understand the technology, especially as it pushes into mainstream spheres.
As we move through the nightmare that is COVID-19, we must ensure we’re opening doors for the industries we represent. Cryptocurrencies and blockchain are here to stay, let’s make sure they change the world while they’re at it.