Regular layoff has led to a crisis of confidence in the cryptocurrency industry. Companies have stated that layoffs have been necessary for operational efficiency and dark times mean weeding out companies that are not genuine. Some companies had to curb their ambitions for growth in an attempt to stay afloat. Blockchain.com had to let go of 28% of its employees. The industry is still young, and a sound PR strategy could be a savior. Given below are some key PR tips that would help a cryptocurrency company to make a real impact.
Transparency is an important factor
For customers these days, transparency is a very important factor when it comes to making purchase decisions. The credibility of a business carries a lot of weight. Customers and investors should have relevant information if they want to make a purchase. Cryptocurrency is a new technology and lack of relevant information only results in uncertainty. Companies can promote the use of noncustodial wallets which means that customers can have control over their own private keys and full control over their funds. They can protect their holdings. If customers are taking the risk of wading into regulatory waters, then there should be no secrets kept from them. They should be given regular reports and updates on projects.
Avoid the use of technical language
The public want to be involved in cryptocurrency and the public is not limited to tech-savvy people. The cryptocurrency businesses should not use technical language or jargon in their messages so that the target audience can understand all of what is being said. The language used should be simple. Even interviews with journalists should be conducted in plain English. Buzzwords that can mean anything and everything are red flags. Effective PR communication would be concrete facts about products and announcements. Objective language should be used to show why a certain cryptocurrency business is special.
Create a community
The effectiveness of a customer base of supporters and dedicated followers cannot be ignored. For instance, Ethereum has an online community that is very robust. Customers who believe in a project will stand by it even if the market price of the cryptocurrency involved starts to depreciate. PR professionals should interact with the followers of a project and offer insights about the progress of the project.
Another PR tactic that is weatherproof is the airdrop. A cryptocurrency airdrop is a promotional activity that gives tokens to its audience for free. People love receiving free stuff irrespective of the value of the airdropped token. Sending free tokens is also an effective way to draw attention to a project. Free tokens mean free publicity and a company will reach a wider audience. The more free tokens a company can provide, the greater will be its chances of having a loyal community. This tactic should be incorporated in the PR strategy of a cryptocurrency company.