1. Why PR matters for blockchain startups?
2. Best practices for building trust and credibility in the blockchain space
3. Common mistakes and pitfalls to avoid when communicating with the media and the public
4. Examples of successful and unsuccessful PR campaigns by blockchain startups
6. How to measure the impact and effectiveness of your PR efforts?
7. How to deal with regulatory uncertainty, market volatility, and public skepticism?
8. Key takeaways and tips for creating a PR strategy that works for your blockchain venture
blockchain technology is transforming various industries and sectors, from finance and healthcare to gaming and education. However, despite its potential and promise, blockchain also faces many challenges and barriers, such as regulatory uncertainty, scalability issues, and public perception. This is where public relations (PR) comes in. PR is not just about promoting your product or service, but also about building trust, credibility, and reputation for your blockchain venture. PR can help you communicate your vision, mission, and values to your target audience, as well as educate them about the benefits and advantages of blockchain technology. PR can also help you attract investors, partners, and customers, as well as manage crises and controversies that may arise along the way. In this article, we will discuss some of the dos and don'ts of PR for new blockchain ventures, and how to leverage PR to achieve your goals and objectives.
Why PR matters for blockchain startups
PR is an essential component of any successful business strategy, especially for new and emerging technologies such as blockchain. Here are some of the reasons why PR matters for blockchain startups:
- PR can help you raise awareness and generate interest for your blockchain venture. Blockchain is still a relatively new and complex technology, and many people may not be familiar with it or understand how it works. PR can help you explain the concept and value proposition of blockchain to your potential customers, investors, and other stakeholders, and how it can solve their problems or meet their needs. PR can also help you showcase your achievements, milestones, and innovations, and create a buzz around your blockchain venture.
- PR can help you establish authority and build credibility for your blockchain venture. Blockchain is a highly competitive and fast-paced industry, and there are many players vying for attention and recognition. PR can help you differentiate yourself from your competitors, and demonstrate your expertise, experience, and knowledge in the field. PR can also help you validate your claims and assertions, and provide evidence and proof of your blockchain venture's performance, quality, and reliability. PR can also help you gain endorsements, testimonials, and referrals from reputable and influential sources, such as industry experts, media outlets, and thought leaders.
- PR can help you create trust and foster loyalty for your blockchain venture. Blockchain is based on the principles of transparency, security, and decentralization, which are also the pillars of trust and loyalty. PR can help you communicate these principles to your audience, and show them how your blockchain venture adheres to them. PR can also help you engage with your audience, and listen to their feedback, suggestions, and concerns. PR can also help you address any issues, challenges, or misconceptions that may arise, and resolve them in a timely and professional manner. PR can also help you reward your loyal customers, and encourage them to spread the word about your blockchain venture.
One of the most important aspects of public relations for any blockchain startup is to establish trust and credibility in the industry. Blockchain technology is still relatively new and complex, and many potential customers, investors, partners, and regulators may have doubts or misconceptions about its benefits, risks, and challenges. Therefore, it is essential for blockchain startups to communicate clearly, transparently, and consistently about their vision, values, goals, and achievements, and to demonstrate their expertise, professionalism, and integrity. Here are some best practices for building trust and credibility in the blockchain space:
- 1. Educate your audience. Blockchain technology can be difficult to understand for the average person, and many people may not be aware of its applications, advantages, and limitations. Therefore, it is important to educate your audience about the basics of blockchain, how it works, why it matters, and what problems it can solve. You can do this by creating informative and engaging content, such as blog posts, white papers, podcasts, videos, webinars, or infographics, that explain the key concepts and features of your blockchain solution in simple and accessible terms. You can also use social media, newsletters, or email campaigns to share your content and reach a wider audience. By educating your audience, you can increase their awareness, interest, and curiosity about your blockchain startup, and position yourself as a thought leader and a reliable source of information in the industry.
- 2. Showcase your achievements and milestones. Another way to build trust and credibility is to showcase your achievements and milestones, such as launching a product, securing a partnership, raising funds, winning an award, or reaching a certain number of users or transactions. You can use press releases, media interviews, case studies, testimonials, or success stories to highlight your achievements and showcase the value and impact of your blockchain solution. You can also use metrics, data, or evidence to back up your claims and demonstrate your progress and performance. By showcasing your achievements and milestones, you can show your audience that you are delivering on your promises, that you have a viable and scalable product, and that you have a competitive edge and a strong market position in the industry.
- 3. Engage with your community. A third way to build trust and credibility is to engage with your community, which includes your customers, investors, partners, influencers, media, and other stakeholders. You can use various channels, such as social media, forums, blogs, podcasts, events, or webinars, to interact with your community, answer their questions, address their concerns, solicit their feedback, or invite their participation. You can also use these channels to share your vision, values, goals, and updates, and to showcase your team, culture, and personality. By engaging with your community, you can build rapport, loyalty, and advocacy, and create a sense of belonging and ownership among your stakeholders. You can also leverage your community to spread the word, generate referrals, or provide testimonials or endorsements for your blockchain startup.
While there are many best practices to follow when it comes to blockchain startup public relations, there are also some common mistakes and pitfalls that can undermine your efforts and damage your reputation. These include:
- Ignoring the media landscape. Blockchain is a complex and evolving technology that requires a lot of education and explanation to the general public and the media. You cannot assume that journalists and influencers are familiar with your project, your industry, or your value proposition. You need to do your homework and research the media outlets and platforms that are relevant to your target audience, their level of understanding, and their interests. You also need to tailor your pitch and your message to each media channel and format, whether it is a blog post, a podcast, a video, or a press release.
- Making unrealistic or exaggerated claims. Blockchain is often associated with hype and speculation, which can create unrealistic expectations and skepticism among the media and the public. You should avoid making claims that you cannot back up with evidence, such as promising to disrupt an entire industry, solve a global problem, or achieve mass adoption overnight. You should also avoid using jargon, buzzwords, or technical terms that are not widely understood or that may confuse or mislead your audience. Instead, you should focus on explaining the real benefits and value of your project, using clear and simple language, and providing concrete examples and use cases.
- Being unresponsive or unprofessional. Media relations is a two-way street that requires constant communication and collaboration. You should not ignore or delay responding to media inquiries, requests, or feedback, as this can damage your credibility and relationship. You should also not be rude, defensive, or aggressive when dealing with the media, even if you face criticism, rejection, or negative coverage. You should always be respectful, courteous, and professional, and try to address any issues or concerns in a constructive and transparent way. You should also be proactive and follow up with the media after sending a pitch or a press release, and thank them for their coverage or feedback.
One of the most crucial aspects of launching a new blockchain venture is to communicate its value proposition and vision to the potential customers, investors, partners, and regulators. However, public relations (PR) for blockchain startups is not a straightforward task, as it involves navigating the complex and evolving landscape of the blockchain industry, dealing with the skepticism and misinformation about the technology, and standing out from the crowd of competing projects. In this section, we will look at some examples of successful and unsuccessful PR campaigns by blockchain startups, and analyze what they did right or wrong, and what lessons can be learned from them.
- Successful PR campaign: Uniswap. Uniswap is a decentralized exchange (DEX) that allows users to swap any ERC-20 tokens without intermediaries, fees, or KYC. Uniswap launched in 2018, but it gained massive popularity and adoption in 2020, thanks to its innovative PR strategy. Some of the key elements of Uniswap's PR campaign were:
- leveraging the power of community. Uniswap built a loyal and engaged community of users, developers, and influencers, who promoted the project on social media, blogs, podcasts, and forums. Uniswap also rewarded its community with a generous airdrop of its governance token, UNI, which created a lot of buzz and goodwill.
- Educating the market. Uniswap created a lot of educational content, such as tutorials, guides, videos, and podcasts, to explain how its protocol works, what benefits it offers, and how to use it. Uniswap also partnered with reputable media outlets, such as CoinDesk, Decrypt, and The Defiant, to reach a wider audience and showcase its thought leadership.
- Innovating and iterating. Uniswap constantly introduced new features, improvements, and integrations, such as flash swaps, liquidity mining, governance, and layer 2 solutions, to keep its users excited and satisfied. Uniswap also responded to the feedback and suggestions from its community, and adapted to the changing market conditions and customer needs.
- Unsuccessful PR campaign: Bitconnect. Bitconnect was a notorious Ponzi scheme that promised its users high returns on their investments by using a trading bot that allegedly exploited the volatility of Bitcoin. Bitconnect launched in 2016, and collapsed in 2018, after being exposed as a fraud and facing legal actions from regulators. Some of the main flaws of Bitconnect's PR campaign were:
- Lying and deceiving. Bitconnect made unrealistic and unsubstantiated claims about its business model, technology, and profitability, and failed to provide any proof or transparency. Bitconnect also used fake testimonials, reviews, and endorsements, and manipulated the data and rankings on various platforms, such as CoinMarketCap, to create a false impression of legitimacy and popularity.
- Exploiting and alienating. Bitconnect relied on a pyramid scheme structure, where it incentivized its users to recruit more people into the network, and paid them commissions based on the amount of money they brought in. Bitconnect also charged high fees, imposed withdrawal limits, and locked the users' funds in its platform, making it hard for them to exit. Bitconnect also ignored the criticism and warnings from the experts, media, and regulators, and dismissed them as haters, fudsters, and competitors.
- Failing and disappearing. Bitconnect eventually collapsed, after it faced a series of cease and desist orders, lawsuits, and hacking attacks, and its token price plummeted by over 90% in a matter of days. Bitconnect also abandoned its users, and deleted its website, social media accounts, and other traces of its existence, leaving behind thousands of victims who lost their money and trust in the blockchain industry.
One of the most important aspects of PR for any blockchain startup is to communicate effectively with your target audience. You need to understand who they are, what they care about, and how they consume information. This will help you craft your message, choose your channels, and measure your impact. There are many tools and resources that you can use to reach your audience, but not all of them are equally effective or suitable for your goals. Here are some tips on how to use some of the most popular and relevant channels for blockchain PR:
- Social media: social media platforms such as Twitter, LinkedIn, Facebook, Reddit, and Telegram are great for building awareness, engagement, and community around your blockchain project. You can use them to share your news, updates, insights, and opinions, as well as to interact with your followers, influencers, journalists, and potential customers. However, you also need to be careful about the tone, frequency, and quality of your posts, as well as the feedback and criticism that you may receive. Some best practices for social media PR are:
- Be authentic and transparent: Don't try to hype your project or mislead your audience with false or exaggerated claims. Be honest and open about your vision, values, challenges, and achievements. This will help you build trust and credibility with your audience and avoid backlash or reputation damage.
- Be consistent and relevant: Don't post too often or too rarely, and don't post about things that are not related to your project or industry. Find a balance between informing, educating, and entertaining your audience, and make sure that your content is timely, useful, and engaging.
- Be responsive and respectful: Don't ignore or delete comments, questions, or complaints from your audience. Respond to them promptly, politely, and professionally, and try to address their concerns or feedback. Don't argue or insult your critics, but rather acknowledge their points and provide your perspective or evidence.
- Be strategic and creative: Don't just post the same content across all platforms, but rather tailor your content to the specific audience, format, and purpose of each platform. For example, you can use Twitter to share breaking news, LinkedIn to share thought leadership, Facebook to share stories, Reddit to share discussions, and Telegram to share announcements. You can also use different types of content, such as text, images, videos, podcasts, infographics, or live streams, to capture your audience's attention and interest.
- Blogs: blogs are another powerful tool for blockchain PR, as they allow you to showcase your expertise, vision, and progress in a more in-depth and comprehensive way. You can use blogs to explain your technology, product, or service, to share your insights and opinions on industry trends and issues, to announce your milestones and achievements, or to showcase your customer success stories and testimonials. Blogs can also help you improve your SEO, drive traffic to your website, and generate leads for your business. Some best practices for blog PR are:
- Write for your audience: Don't write for yourself or your peers, but rather for your potential or existing customers, investors, partners, or media. Understand their needs, interests, and pain points, and write in a way that addresses them. Use clear, simple, and engaging language, and avoid jargon, acronyms, or technical terms that your audience may not understand.
- Write with a purpose: Don't write just for the sake of writing, but rather have a clear goal and message for each blog post. What do you want to achieve with your blog post? What do you want your audience to learn, feel, or do after reading it? How does your blog post fit into your overall PR strategy and narrative?
- Write with quality and credibility: Don't write poorly or hastily, but rather invest time and effort into researching, writing, editing, and proofreading your blog post. Make sure that your blog post is accurate, factual, and reliable, and that you cite your sources and provide evidence for your claims. Don't plagiarize or copy from other sources, but rather write in your own voice and style.
- Write with variety and originality: Don't write the same type of blog post over and over again, but rather mix up your topics, formats, and angles. For example, you can write a tutorial, a case study, an interview, a list, a comparison, a review, a prediction, or a personal story. You can also use different media, such as images, videos, podcasts, or slides, to enhance your blog post. Don't repeat what others have already written, but rather offer your own unique perspective, insight, or value proposition.
- Podcasts: Podcasts are a growing and popular medium for blockchain PR, as they allow you to reach a large and loyal audience of listeners who are interested in learning more about your project, industry, or topic. You can use podcasts to share your story, vision, and values, to educate your audience about your technology, product, or service, to demonstrate your thought leadership and expertise, or to showcase your personality and passion. Podcasts can also help you build relationships and trust with your audience, as well as with other influencers, experts, or media in your field. Some best practices for podcast PR are:
- Choose the right podcast: Don't pitch or appear on any podcast that is related to blockchain, but rather do your research and find the podcasts that are most relevant, reputable, and influential for your target audience, niche, or goal. Look at their topics, guests, format, style, tone, and audience size, and see if they match your criteria and expectations.
- Prepare for the podcast: Don't go into the podcast unprepared or unprofessional, but rather do your homework and prepare for the podcast. Know your host, their background, their questions, and their expectations. Know your audience, their level of knowledge, their interests, and their questions. Know your message, your key points, your stories, and your call to action. Practice your answers, your delivery, and your timing, and make sure that you have a good microphone, headphones, and internet connection.
- Perform on the podcast: Don't be boring or bland on the podcast, but rather be engaging and memorable. Be yourself, be authentic, be enthusiastic, and be confident. Be clear, concise, and coherent, and avoid rambling, digressing, or interrupting. Be informative, insightful, and valuable, and avoid being vague, generic, or salesy. Be respectful, courteous, and grateful, and avoid being arrogant, rude, or defensive.
- Promote the podcast: Don't forget or neglect the podcast after it is over, but rather promote and leverage the podcast. Thank the host, the audience, and the guests, and share your feedback and appreciation. Share the podcast link, the highlights, and the key takeaways on your social media, blog, newsletter, or website, and encourage your followers, customers, or partners to listen, comment, or share. Monitor and measure the impact and results of the podcast, and follow up with any leads, opportunities, or connections that may arise from it.
- Newsletters: Newsletters are a classic and effective tool for blockchain PR, as they allow you to communicate directly and regularly with your subscribers, who are your most loyal and interested audience. You can use newsletters to update your subscribers about your news, events, milestones, and achievements, to educate your subscribers about your technology, product, or service, to offer your subscribers exclusive content, offers, or rewards, or to solicit your subscribers' feedback, opinions, or referrals. Newsletters can also help you increase your brand awareness, loyalty, and retention, as well as your conversions and sales. Some best practices for newsletter PR are:
- Build your list: Don't spam or buy your subscribers, but rather build your list organically and ethically. Offer your audience a clear and compelling value proposition and incentive for subscribing to your newsletter, such as a free ebook, a discount code, or a webinar invitation. Make it easy and convenient for your audience to subscribe to your newsletter, such as by adding a sign-up form on your website, blog, or social media, or by asking them to opt-in during your registration, purchase, or download process. Segment your list based on your subscribers' preferences, behaviors, or characteristics, and personalize your newsletters accordingly.
- Design your newsletter: Don't send a plain or ugly newsletter, but rather design your newsletter to be attractive and professional. Choose a consistent and recognizable template, layout, color scheme, and font for your newsletter, and make sure that it is responsive and compatible with different devices, browsers, and email clients. Use images, videos, icons, or emojis to enhance your newsletter's visual appeal and readability. Use headings, subheadings, bullet points, or numbers to organize your newsletter's content and structure. Use a catchy and relevant subject line, a clear and concise preheader, and a friendly and personalized greeting and signature for your newsletter.
- Write your newsletter: Don't write a long or boring newsletter, but rather write a short and interesting newsletter. Write in a conversational and casual tone, and use your own voice and style. Write for your subscribers, not for yourself, and focus on the benefits and value that you provide to them, not on the features or details of your project. Write with a purpose and a goal, and include a clear and compelling call to action in your newsletter, such as a link, a button, or a question. Write with quality and accuracy, and proofread and test your newsletter before sending it.
- Send your newsletter: Don't send your newsletter randomly or spor
One of the most important aspects of any PR campaign is to measure its impact and effectiveness. Without proper metrics and evaluation, you will not be able to assess how well your PR efforts are reaching your target audience, influencing their perception, and driving their actions. Moreover, you will not be able to justify your PR budget, demonstrate your ROI, and improve your PR strategy over time. Therefore, you need to establish clear and relevant goals, indicators, and methods for measuring your PR performance.
There are different types of metrics and evaluation methods that you can use to measure your PR impact and effectiveness. Some of the most common ones are:
- Media coverage: This refers to the quantity and quality of media exposure that your PR campaign generates. You can measure this by tracking the number, type, and reach of media outlets that cover your story, the tone and sentiment of the coverage, the key messages and keywords that are used, and the share of voice that you have compared to your competitors. You can use tools such as Google Alerts, Meltwater, or Cision to monitor and analyze your media coverage.
- social media engagement: This refers to the level and quality of interaction that your PR campaign sparks on social media platforms. You can measure this by tracking the number, type, and reach of social media posts that mention your brand, the tone and sentiment of the posts, the engagement rate (likes, comments, shares, etc.), and the influence and credibility of the posters. You can use tools such as Hootsuite, Sprout Social, or BuzzSumo to monitor and analyze your social media engagement.
- Website traffic: This refers to the amount and quality of visitors that your PR campaign drives to your website. You can measure this by tracking the number, source, and behavior of website visitors, the bounce rate, the conversion rate, and the average time spent on your website. You can use tools such as Google analytics, SEMrush, or Moz to monitor and analyze your website traffic.
- Lead generation: This refers to the number and quality of potential customers that your PR campaign attracts and nurtures. You can measure this by tracking the number, source, and stage of leads, the lead-to-customer ratio, the customer lifetime value, and the cost per lead. You can use tools such as HubSpot, Salesforce, or Mailchimp to monitor and analyze your lead generation.
- Reputation and trust: This refers to the degree and quality of positive perception and credibility that your PR campaign builds for your brand. You can measure this by conducting surveys, interviews, or focus groups with your target audience, stakeholders, or influencers, and asking them about their awareness, recognition, preference, satisfaction, loyalty, and advocacy for your brand. You can use tools such as SurveyMonkey, Qualtrics, or Trustpilot to conduct and analyze your reputation and trust surveys.
These are some of the metrics and evaluation methods that you can use to measure the impact and effectiveness of your PR efforts for your blockchain startup. However, you should not limit yourself to these methods, as there may be other ways to capture and quantify your PR outcomes. The key is to align your metrics and evaluation methods with your PR goals, objectives, and strategies, and to use a mix of quantitative and qualitative data to get a holistic and comprehensive picture of your PR performance. By doing so, you will be able to demonstrate the value of your PR efforts, optimize your PR tactics, and achieve your PR success.
One of the most daunting aspects of launching a new blockchain venture is navigating the complex and dynamic landscape of regulations, markets, and public opinions. blockchain technology is still relatively new and evolving, and there are many uncertainties and challenges that entrepreneurs need to overcome in order to succeed. However, these challenges also present opportunities for innovation, differentiation, and value creation. In this section, we will discuss some of the best practices and strategies for dealing with regulatory uncertainty, market volatility, and public skepticism in the blockchain space.
- Regulatory uncertainty: Blockchain regulation is a hot topic that varies widely across different jurisdictions and sectors. Some countries are more supportive and welcoming of blockchain innovation, while others are more restrictive and cautious. Some industries are more regulated and standardized, while others are more open and flexible. As a blockchain startup, you need to be aware of the legal and regulatory implications of your business model, your target market, and your technology. You also need to be prepared for potential changes and updates in the regulatory environment, as blockchain laws and policies are constantly evolving and adapting. Some of the ways to deal with regulatory uncertainty are:
- Do your research: Before launching your blockchain venture, you need to do your homework and understand the legal and regulatory framework of your industry and market. You need to know the rules and requirements that apply to your business, such as licensing, taxation, compliance, reporting, and auditing. You also need to keep track of the latest developments and trends in blockchain regulation, and how they might affect your venture. You can use online resources, such as [CoinDesk's Regulation Tracker](https://www.coindesk.
You have learned about the importance of PR for blockchain startups, the common challenges and pitfalls they face, and the best practices and strategies to overcome them. Now, it is time to summarize the key takeaways and tips that will help you create a PR strategy that works for your blockchain venture. Here are some of the main points to remember:
- Know your audience and tailor your message accordingly. Blockchain is a complex and evolving technology that can be hard to understand for the general public. Therefore, you need to identify your target audience and craft your message in a way that resonates with them. For example, if you are targeting investors, you need to highlight the value proposition and competitive advantage of your blockchain solution. If you are targeting potential users, you need to focus on the benefits and use cases of your product or service.
- Build relationships and credibility with the media and influencers. Media coverage and influencer endorsement can boost your visibility and reputation in the blockchain space. However, getting their attention and trust is not easy. You need to research and reach out to the relevant journalists, bloggers, podcasters, and influencers who cover your niche and industry. You need to provide them with valuable and newsworthy information, such as press releases, white papers, case studies, and testimonials. You also need to follow up and maintain regular communication with them, and offer them exclusive access or interviews when possible.
- leverage social media and community platforms to engage and educate your audience. social media and community platforms, such as Twitter, Reddit, Telegram, and Medium, are essential tools for blockchain startups to connect and interact with their audience. You need to create and share engaging and informative content, such as blog posts, videos, podcasts, infographics, and newsletters, that showcase your vision, mission, values, and achievements. You also need to participate and contribute to the relevant discussions and forums, and answer the questions and feedback from your audience. You can also use these platforms to launch campaigns, contests, giveaways, and events to generate buzz and excitement around your blockchain venture.
- Be transparent and authentic in your PR efforts. Blockchain is built on the principles of decentralization, trustlessness, and immutability. Therefore, your PR strategy should reflect these values and demonstrate your integrity and honesty. You need to be transparent and authentic in your communication and actions, and avoid making exaggerated or false claims. You also need to be accountable and responsive to any issues or crises that may arise, and address them promptly and professionally. You should also seek feedback and input from your audience and stakeholders, and incorporate them into your PR strategy.
What people often ask me is, 'What are the ingredients of Silicon Valley?' While the answer to that is complex, some of the ingredients I talk about are celebrating entrepreneurship, accepting failure, and embracing a mobile and diverse workforce.
Read Other Blogs