Media relations are important in a blockchain startup’s developmental phase (and beyond). The Web3 space feeds on Hopium and FUD. As such, it is essential to maintain a positive impression in the media, as it is critical to your company’s success in the industry.
What is Media Relations?
Media relations is a process utilized by organizations to communicate their goals and practices positively. It involves working with various media outlets to create a credible and positive image for their brand. The emphasis on “creating a credible positive image” further highlights the importance of media relations to blockchain startups. A brand with a credible and positive image generates public attention and can be easily trusted by people.
Why Do Blockchain Startups Need Media Relations?
With the world slowly becoming more acquainted with blockchain technology and more individuals investing in the industry, the outlook for countless blockchain startups is bright. Unfortunately, numerous promising startups still are yet to be discovered and heard. To help blockchain firms achieve mainstream appeal, blockchain marketing and media relations are now of vital importance.
1. Establishing a Distinct Brand Identity and Authority: Competition in the blockchain and cryptocurrency market is fierce, and anyone has the potential to become a crypto-entrepreneur. Therefore, blockchain startups must stand out from the crowd and be seen as an authority in their field.
Advertising can help spread a startup’s awareness, but media relations offer a more precise approach. Through media relations, your startup can target specific, influential individuals who are likely to share your content with their followers.
Regularly creating high-quality content related to the blockchain industry and distributing it to credible publications will help to establish your startup as a leader in the industry. It will also raise brand awareness, potentially leading to leads via “call-to-action” links in the published material.
Not only will media relations help to build a strong brand identity for your startup, but it will also grant you a higher status in the industry. Establishing expertise and topic authority is half the battle to winning over the trust of the community, and great for any brand!
2. Establishing beneficial connections with the public: Media relations are vital to any business’s program to position itself as esteemed and noteworthy. Media engagement and positive community relations can bring investment prospects and new clients without spending more money on advertising.
Blockchain startups can take full advantage of social media through marketing and media relations. That gives potential customers and investors a means to access the companies informally. It also allows the audience to inquire or become more acquainted with blockchain topics and ideas. For instance, creating a Telegram channel can provide people with a more casual avenue for communication. It facilitates inquiries and helps foster a more intimate relationship with the project. Moreover, to overcome skepticism, it is important to maintain transparency with the technical aspects of your project.
Additionally, joining platforms typically utilized by Crypto businesses, like Reddit and Bitcointalk, along with conventional networks such as Facebook and Twitter, can help build a supportive community, thus increasing the stature of your organization.
Creating a positive image in the community promotes trustworthiness and transparency and encourages people to learn more about your startup. This is exceptionally important in an industry famous for lacking trust and transparency.
3. Product Education: Although the marketplace for blockchain technology is growing, the general population still needs to understand the field better. Media relations firms can create and implement initiatives to assist the target audience in becoming more informed about the most recent technology, such as blockchain.
Media relations can help potential customers, and institutional investors become more comfortable with the novel tech, eliminate doubts, and be more open to product offerings based on blockchain technology.
4. Crisis Management and Control: In the crypto space, like in any other industry, a media relations crisis could arise out of nowhere. Media relations agencies are needed to manage such crises, be it due to misinterpretation of a product or false claims made by competitors. It is not just about releasing official statements to limit the harm done.
Blockchain startups also need strong relationships and collaboration with other entities to protect their reputations during tough times.
A reliable media relations team can help startups build vital networks, assess potential risks, predict the outcome of a crisis, and alter the public’s opinion of the company. The blockchain sector still needs effective media relations, as it is an essential part of any plan to enhance a company’s presence and remain relevant. Additionally, media relations can assist startups in distinguishing themselves and developing a reliable and respected public image.
Tips for Managing Media Relations In-House
That said, media relations’ importance to blockchain startups cannot be over-emphasized. How, then, can a blockchain startup successfully handle its media relations in-house?
1. If you manage your media relations in-house, you may need to hire personnel to carry out these activities. Media relations is a full-time job that often requires additional hours from at least one person, preferably several. To ensure all media relations functions are managed properly, you need to find someone who has the following:
• Outstanding writing and editing abilities for all types of documents.
• Tact and diplomatic abilities to interact with diverse personalities and handle delicate or tough scenarios.
• A wide network of Web3 journalists and editors who can help get the company earned media.
• Organizational skills to plan events and follow through with the details.
• Understanding of social media platforms and the confidence to use them regularly.
2. Be aware of trending topics: Media relations require high awareness of the concerned industry. To handle the media relations of a blockchain startup, one needs to be aware of the trends in the blockchain industry.
3. Work smartly: As morally upright as it sounds, hard work may only be beneficial if it aligns with smartness. You should know when and when not to make a move, which moves to make and how to make such a move. That is where networking with stakeholders comes into play, as knowing the right people could take your company farther than you can imagine.
4. Always put yourself in the shoes of your audience and potential clients: Before putting something out there, think about how it will appeal to you if you were a random person who just found themself in your startup’s media space. Be sure to put the interest of your target audience at heart and always prioritize their satisfaction.
The importance of media relations to blockchain startups cannot be overemphasized. Instead, these startups should be focused on whether they can manage their media relations in-house. Some startups find it daunting to do so and decide to outsource their media and public relations to Web3 marketing firms like Off-Chain Communications, which assist in handling press releases, interview sessions, promotional and non-promotional publications, and managing the public image of the brand as a whole. As a blockchain startup, putting this into action will bring you closer to realizing your goals.
Interested in marketing your blockchain/Web3 project? Please contact Off-Chain Communications for a free consultation and quote.
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