Yes, You Can Still Get Media Coverage in a Bear Market
What sort of blockchain marketing should you do when crypto is in a bear market? Yes, the crypto ecosystem is much quieter, and blockchains are operating on lean budgets. But what does that mean for public relations? Should you stop working with the media just because the hype has died?
We’ve just eclipsed the one-year mark for the crypto bear market and new-project excitement has certainly died down. Twitter, Telegram and Discord are less saturated with fan armies and shill experts. Blockchain projects are silently developing, offering a few updates here and there. Most of the remaining social noise revolves around the die-hard crypto enthusiast and the well-read developers/traders maintaining a pulse on the blockchain ecosystem.
Meanwhile, the media keeps publishing. The media never stopped publishing. In fact, news stories covering blockchain and crypto are notably up from this time last year!
Fewer shitcoins and crappy ICOs are barraging the mainstream. The bear market shook out and deterred many inconsequential projects. Accordingly, the media has matured in the bear market and journalists are better judges of project merit.
Now is actually the best time for remaining blockchain companies to step up their public relations game. Here is why:
Consistent conversations build and maintain momentum
I get it. Your company isn’t compounding wealth the way it was in the 2017 bull run. You may still feel the need to make cutbacks, reduce staff and overall spend. But I implore you, do not scale down your media relations.
Product takes precedent for blockchain. That is a universal truth. However, when companies stop their media updates and “go dark” they lose. News stories, blogs and thought leadership keep your company in the public eye. People think about you, talk about you and invest.
The psychology of awareness is important. People, media and companies that don’t talk about you forget you exist. Then, when a new and louder competitor enters the market, that company easily steals the show.
Public relations isn’t just about building momentum for your company; it’s also about maintaining it. A good PR person makes news through creativity, not just through innocuous company updates. Companies need to stay relevant year-round to prevent a fall to obscurity.
Good tech is still good tech
If your company is creating a truly revolutionary product, you’ll have no shortage of topics to expound upon. Innovation – real, earth-shattering disruption – is innately newsworthy. It demands attention and often comes with contextual layers.
Good tech deserves a proper herald. Companies should trumpet their innovation as a point of pride, know their competitive advantage and proactively engage target demographics with calculated messages.
Think about how to segment your audiences. What features are important and to whom? Create stories that speak to the variety of individuals. Look for journalist addressing different components of your technology to flesh out messages that resonate with all of your demographics.
You can dominate news in a bear market
It’s easier to hear a person talk when the room is quiet. Plenty of companies have made the ill-advised decision to cut their PR budget. Hence, fewer flacks are knocking on journalists’ doors. Meanwhile, the same old talking heads dominate the news.
The best opportunity your company will have for media coverage is now! Journalist are looking for fresh perspectives and fresh innovation. They want something different than the same-old same-old. Your company survived the bear market. Congratulations! Now use the advantage of fewer competitors and less hype to spread your name.
It was inevitable that the money well would dry up. However, we’ve only scratched the surface of blockchain innovation and application. The media is increasingly aware of blockchain technologies’ potential, and their enquiring readers want to know about upcoming projects.
Multiplied is the leading blockchain marketing and PR agency in the crypto space. We specialize in public relations, digital marketing, content creation, and business intelligence. You can read more about our blockchain PR services here.