Jumpstart Your Blockchain PR Strategy with These 3 Insights

Blockchain: The Future of Connectivity

Joe Hunt

We have seen a lot in the public relations business when it comes to strategy. Some want mega launches for their products, à la the iPhone launch. We've also met with companies who just expect the product to sell itself. If you're a new blockchain company or a mature company that needs some new ideas, keep reading.

1. Understand the Market

The biggest mistake companies make when they become a blockchain company is that they think they are launching a software product or an app. The big distinction is that they are not launching a mobile app, and cannot market to everybody. In the current blockchain market, there is only an estimated market of 15 to 20 million users. This hasn't changed for much of 2018, as the market has seen a stagnation in new users. Blockchain companies should not be focusing on the average consumer, because in all likelihood, it will be a waste of funds. 

Adjust your company's focus on quality, not quantity. Make it about things that are substantial and designed around your product, not on some advertising or PR company's idea of 'mass appeal.' That being said, don’t forget marketing outside of blockchain users. Our advice is for you to cast a wide net, yes, but to be strategic in doing so, because at the end of the day you have a consumer product. Don't be one of the blockchain companies that only markets to the blockchain world. Ultimately the consumer doesn't care if they use blockchain or not—all they care about is whether the application works, so they need to be able to market to whoever is actually going to use the product.

2. Focus on Generating Meaningful Results

There is a massive amount of noise surrounding the blockchain market. So much so that 'blockchain' is a buzzword that either immediately engages a consumer, or immediately tunes them out. Many people in this burgeoning industry are making the mistake of marketing things without having an actual product. This creates a scenario where companies are selling things they are doing, rather than the things they are creating. Less is more. If you are just putting out noise, people will be turned off. 

Don't be the 'hype' company that has snazzy marketing just for marketing's sake. Since this is the tech industry, don't create generic content that looks interesting, but has no substance. If you participate in 'hype' marketing, you'll likely miss a huge segment of your target market who will be unable to discern what your product actually is. When it comes to your announcements, let the technology speak for itself.  If the main goal of your strategy is to generate clicks, your blockchain technology might need to reevaluate its focus.

3. Engage People IRL

This is less of a suggestion than an urgent plea: you NEED to get out and meet people in the industry. While our community is inherently digital, 'boots on the ground' are needed for a successful blockchain marketing campaign. If you rely on ghost messaging or cold marketing, your outreach efforts may not be reaching the most active and engaged members of the cryptocurrency world. BlockPR has seen firsthand how companies who prioritize networking and consumer-facing events experience tremendous success. Go to conferences, go on road shows, go to meet-ups. Set up an ambassador program. Get a loyal community. There are a few companies out there who might not have the most accessible product, but because they focused on external events to build a brand following, they maintain a loyal and engaged customer base.