The blockchain market is on the rise today. The cryptocurrencies segment, which is part of a blockchain, is expected to reach a total of $74.30 billion by 2027 in revenue, making it a leading global market.
However, because blockchain is still a relatively new field, it may seem like it’s complicated. In general, the concept of blockchain is pretty simple, though.
💡 Read Digital PR Explained: Best Strategies and Tools
We’ll explain what blockchain PR is and its importance, so you no longer feel intimidated when you hear the term and can get the most out of it in your business framework.
What Is Blockchain PR?
Unfortunately, despite the rise of the crypto market, there’s still a lot of negativity about it. Some leave negative feedback without understanding, while others purposely spam companies’ feeds with fake reviews.
As a result, it’s made it impossible for blockchain startups to run PR campaigns on traditional media channels like TV, radio, etc., and left them virtually with no options to effectively communicate with customers.
To solve this issue, blockchain PR was created.
Essentially, blockchain PR offers marketing and PR services to blockchain companies.
However, it is being actively used not only in the context of cryptocurrency but in other industries as well, helping companies differentiate and build customer trust.
Read Media Monitoring for Cryptocurrencies
Here’s just a short list of industries that could benefit from the blockchain:
- Identity management;
- Messaging apps;
- Real estate;
- SaaS companies;
- Travel and mobility;
- Banking and finance.
Let’s take a look at the advantages of Blockchain PR and the reasons why you should start using it.
Why Use Blockchain PR
As just mentioned, the main idea behind blockchain PR is to help companies build reputation and credibility using media channels. However, these aren’t the only benefits it offers. Further down, we will break down the other advantages of blockchain PR that are worth considering.
Widen Your Reach
Perhaps, the biggest advantage of blockchain technology is that it uses a so-called “decentralized approach to connectivity”. This means that, unlike most other technologies, it uses a P2P (peer-to-peer) network, ensuring an unmonitored line of communication.
Effectively, this gives you a few aces up your sleeve:
- Firstly, levering the blockchain principle doesn’t require as much marketing budget as B2B or B2C;
- Secondly, this makes it a lot easier to build trust with your customers. They are more likely to engage with networks that don’t use any centralized monitoring party to track communications.
Besides, the ability to communicate through direct networks enables you to reach niche audiences easier. As a result, you can reach more audiences without spending a lot of funds.
Read Optimizing Your PR Budget: 5 Ways Media Monitoring Tools Can Help
Another indisputable advantage of the decentralized nature of blockchain technology is transparency. Because blockchain uses the above-mentioned “decentralized approach”, all users of blockchain can easily track their transactions. They can also see where they’ve been moved at any point in time.
This not only helps towards building trust with the customers but also prevents the risk of exchanges being hacked. Any suspicious activity can easily be decrypted and verified.
For example, blockchain can be widely used by a transportation software development company to maintain data transparency in the chain.
Gain New Visitors and Investors
The blockchain market is a very hyped market, and many investors want to see what this hype is all about. And where do they look? On Google, of course.
With that in mind, any company that wants to gain new visitors and attract an influx of investors should invest in a good SEO strategy. By optimizing your website with crypto SEO elements, you’ll increase visibility and have a better chance of appearing on the first page of the search.
Did you know that 27.6% of clicks go to the websites on the first page? Now you do, which once again proves that harnessing blockchain PR is important.
Keep Investors Engaged
Due to the negative reputation of the crypto market, crypto communities have long switched to Reddit and Steemi, which, unlike Facebook, do not impose bans. And while traditional PR wouldn’t be of any use there, blockchain PR knows exactly how to leverage those social sites.
You can use it to your advantage and, in addition to posting on your personal blog, also post updates about your project there, thus, increasing your interaction with existing investors and attracting new ones looking for interesting IDO projects.
Build a Strong Brand Image
For any business to stand out, no matter the field, it’s vital to have a strong brand authority. In fact, it’s just as important as having a good SEO strategy, as you want to not only get noticed by the search engines but also make sure people remember you and come back.
Read 3 Reasons Why You Should Do Brand Tracking
Blockchain PR can help you with that. By combining all the important elements that identify a business, such as logos, colors, content, etc., it allows you to create a cohesive product that will let you stand out from your peers and have a strong impact on your audience.
Also, such technologies can be used to quickly analyze brand mentions online and get real-time notifications about them. For example, the Determ solution for PR specialists offers such features.
Adulterated media is one of the biggest evils when it comes to company “karma”. Unfortunately, both small and large companies are subject to it, which leads to a loss of credibility and skepticism of the brand overall.
As you’ve already guessed, blockchain PR addresses this issue. Of course, it can’t stop people from spreading fake information, but it has made it possible to track and verify the authenticity of sources, minimizing the risk of information distortion when disseminated by the media.
Since customer service aims to reduce human effort, bots have become commonplace these days. The catch is that they are now everywhere, which makes it hard to tell which is a bot and which is a quality lead.
Blockchain technology offers a solution for identifying bot-related activities. Thanks to its machine learning ability, it generates “BotChain” protocols on the spot, enabling PR specialists to validate website visitors and understand “humans vs bots” numbers.
With this data on hand, they can identify gaps in the funnel and improve their digital marketing efforts.
Secure Information Storage
Last but definitely not least, blockchain is an excellent way to store confidential information, which is a crucial aspect of any business. Thousands and thousands of new websites emerge every day, and all of them, in one way or another, seek to gain access to personal clients’ data.
Inevitably, this causes concern in people, making them question whether they can trust a merchant with their details, like a bank account, address, etc., or not. With blockchain, however, this won’t be a worry.
By implementing a decentralized blockchain-based data storage on your website, you can guarantee the safe storage of users’ data, as well as give them control over how this data’s used.
As a result, users will perceive your website as trustworthy and valuable and are more likely to return to it again and again.
Read Top 5 Reputation Management Tools
As you can see, blockchain PR isn’t as complicated as it may seem, and, most likely than not, you’ve already been using some of its methods without realizing it.
The greatest merit of blockchain PR is that it can be used not only in the context of cryptocurrency for which it’s been created in the first place but in many other industries as well, due to the combination of effective methods and approaches.
Any business will benefit from using blockchain technology to build trust with its customers. And it will most certainly make use of it when implementing digital marketing strategies, to qualify leads and target niches that would otherwise be hard to reach.
When it comes to the crypto market, it’s a true lifesaver. By leveraging blockchain PR, not only will you be able to get around bans imposed by giant tech companies such as Facebook, but you’ll also break into a whole new world of crypto community streams.
And by engaging with those communities, you’ll get a chance to attract investors to your project and make a name for yourself.
Dmytro Sokhach is an entrepreneur and the 6-Figure Flipper Club member. Founded Admix Global (web agency) that builds websites, makes them profitable, and sells them as business.