Crypto PR 2020: Beyond Media Relations
The communications landscape in PR is always changing. In 2017, every outlet was scrambling to cover ICOs, Bitcoin and blockchain. That’s just not the case anymore, meaning projects need to re-think how they gain awareness and differentiate themselves.
**Why a crypto project wants media coverage**
Traditional media relations can serve a few purposes in crypto:
- Broad awareness — You just want to be in the media talking about topics that matter and being included in stories relevant to your business.
- Differentiation — You have competitors and you want readers to know the difference between you and them.
- Customer acquisition — You want media coverage to drive the type of awareness that helps achieve business goals.
Takeaway: Projects need to know why they want media coverage and what purpose it serves their business.
**Media coverage has slowed down — outside of crypto**
The days of mainstream media regularly covering crypto is over:
- Crypto outlets — From The Block and CoinDesk to podcasts like Pomp’s, Laura Shin’s and Charlie Shrem’s, there’s significant crypto media.
- Mainstream media — Fortune, Forbes and Bloomberg have dedicated reporters in crypto, but that number has significantly decreased. Gone are the days of BusinessInsider, Mashable and The Information writing about this space.
- Business/Financial — New York Times and Wall Street Journal rarely cover crypto anymore and TV outlets like CNBC, Bloomberg and Fox Business are too consumed with the markets and Trump.
Takeaway: Manage your expectations. There are still opportunities to gain coverage in all three of these categories but not like there used to be.
**Outlets are very interested in op-eds**
From CoinTelegraph to Fast Co. to NASDAQ, editors are interested in op-eds more than ever before.
- Timely — Turn around an op-ed quickly and make it about something happening in the news right now.
- Trends — Crypto is growing and maturing. What are you seeing that readers aren’t?
- Outside the Industry — From the Digital Dollar to a new asset class, there are ways to talk about crypto and blockchain as part of a larger, more mainstream conversation that can get you into non-crypto outlets.
Takeaway: Content creation needs to be a strategy that’s a more significant part of your PR plan.
**A social strategy must work in tandem with traditional PR**
You have to combine a traditional PR approach with a non-traditional PR plan to get both broad and targeted awareness on a regular basis:
- Excite your community — Projects need to better engage with their community and activate them in a way that generates smart, on-message awareness across multiple channels.
- Use your employees, friends and allies — When projects have announcements, they need to create a social plan that encourages everyone they know to be engaging online and amplifying awareness.
- Influencers matter — Whether you are trying to grow your following or drive new customers to your platform, the right influencers participating in the right type of plan can drive huge and targeted awareness.
Takeaway: Especially in crypto, you need a plan to gain awareness online that complements your more traditional PR plan.