3.10.2020 12:53 GMT+2
Category: NEWS

PR in the Crypto world, where is the hook?

Crypto is currently the main global topic worldwide. In a last time we recorded the first crypto bank in US and many projects linked to blockchain technology.

Of course, I also take into the account the current topics we are constantly listening to, Covid, climate change and the economic crisis. But for now I would like to open topic about the PR in Cryptoworld.

There are a number of projects on the market, from media, wallets, currencies to crypto machines. Blockchain technologies are already in every area of our todays´ lives.

It can be said that it is necessary to get acquainted with them and to penetrate smoothly the intangible world of Cryptocurrencies.

There are thousands of crypto companies in the world that come into existence every day, of which up to 95-99% are fake. They will disappear exactly as quickly as they have arisen. The solidity of such companies is only a relative concept; And once they lose their reputation, regaining it costs a lot of effort and money.

The reputation of any company is built over years, and it works similarly for Crypto projects. In the online crypto world, it's just a little faster and quite challenging at the beginning. However, there is one unchanging rule, once you lose the company's reputation, it is very difficult to regain it. Of course, nothing is impossible, it just takes some time.

The best and proven way is hard work from the ground up. Building a good reputation represents a long way. It is possible to start through cooperation with long-term projects, as well as by connecting the company with strong partners on the market. A person who has a good reputation and will help the company by participating in a project is also a security. Consequently, communication with potential partners will be made easier. Plus, it is necessary to support all this with a strong financial injection aimed at a strong PR strategy.

1. Determining the goal of the PR strategy.

- We can regain the good name of the company by engaging in charitable activities, connecting with functioning companies and cooperating with people with a "clean register", hence people with a good reputation on the market.

2. Time period.

- The minimum time to build a good name is approximately 6 months, in some cases 12 months.

3. Initial investment.

- If you now have an idea of the amount you plan to invest, be prepared for the fact that it will be 5 times more

4. Cooperation + investment in a serious person.

- Cooperation with a reputable company, marketing agency or sales manager is key. I'll explain why.

"One of my clients and I set up a PR marketing strategy. We have determined the set time period, the initial investment and the way in which we want to achieve the set goal. After 4  months, the result was very bad. Why? In the crypto world, one often encounters deception, cheating, and oftentimes agreements do not hold."

For example, on LinkedIn, you will find the largest number of Crypto journalists and fake managers whose only interest is to raise as much money as possible at the very beginning. They have confirmations, videos and they really look absolutely real. They work in organized groups and pretend to work for the largest companies.

1. They connect you with colleagues, who look like they are in charge of another division, of course they are also fake. They know how to deprive clients of huge funds, currency does not play a role, bitcoin, $ or Euro, they ask what you are more comfortable with. Of course, you will never find the provided funds again. This is how I managed to reveal the network of "Crypto fake profiles" on Linked in. First, I was deprived of an entry fee of $ 500, which was the minimum rate, as I refused to send them the full amount for the campaign in one shot.

2. Several Sales managers in crypto medias do not respond promptly. The usual answer to an information e-mail is an invoice for about $ 64,000. The invoice is without a breakdown of services and with no guarantee.

3. Many PR agencies are based in Russia and Ukraine. Communicating with people, on the other hand, is challenging if you do not agree with their terms, so you risk that your company's name will suffer, as in some cases they know how to use threats or arrogance. Many of the companies are directly linked to Crypto media and have agreements with them.

It is important to notice that with the right connections it is not hard to get articles published on newspaper, or important tech platforms, usually used as reference to give credibility to a project. The fact that the world of blockchain is little understood makes it easy for a good PR to sell a story of revolutionary technologies that are not clear to the public, but have quite a mediatic resonance, and promote “innovation” in general.

In terms of bringing new “users” on board a project needs a narrative in line with the crypto trends, a point of reference in an existing project that already got some traction, good token economics with referral and cashback programs, possibly a staking system where users can lock up their funds and earn passive income, or access a series of advantages. 

Of course, a big risk, like it’s currently happening, is that users buy and use a token of a specific project only for earning more tokens, and for nothing else (because in reality there is no other use); but this only works in the short terms, after that the project fades away, as the capital of 

most of the investors. Sadly, a lot of PR agency do not make distinctions and promote these anything that pays.

What is Kelta's PR strategy?

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