Entering a state of dormancy during market downturns? Reconsider your cryptocurrency public relations approach.
Entering a state of dormancy during market downturns? Reconsider your cryptocurrency public relations approach.
Contrary to the belief that crypto public relations and communication initiatives should diminish during market downturns, this notion is fundamentally incorrect. Indeed, during periods of cryptocurrency downturns, product development teams collaborate to enhance their solutions, which is commendable; but, these intervals also provide optimal opportunities for brand cultivation.
During a cryptocurrency downturn, savvy businesses capitalize on the chance to enhance their reputation while others remain inactive. When the market eventually intensifies, this technique will place these firms ahead of their competitors.
Not everyone may agree with this perspective, contending that promoting public relations amid an economic depression is insensitive. Some may see sluggish market communications as superfluous distractions when product development ought to be the exclusive focus. Visibility is not just vanity; it is a strategic need, and it is simpler to get attention in stable markets.
Decreased news velocity, more ravenous journalists
As the activity in the cryptocurrency market diminishes, so too does all associated activity, including newsrooms. In other terms, journalists exhibit more latitude (and tolerance) for narratives that extend beyond simple price fluctuations. No significant incidents involving exploding digital assets have occurred. Bitcoin (BTC) -0.84%
Bitcoin is far from attaining a new all-time substantial, and altcoins have mirrored the leading cryptocurrency, remaining dormant as well.
Consequently, when the excitement and commotion in the cryptocurrency realm subside, media organizations seek narratives of significance. During such instances, genuine innovation and robust initiatives have the opportunity to emerge and get authentic editorial attention, rather than being overshadowed by sensationalist headlines.
Minor news may be seen as significant in a down market.
During a bull run, even a $10 million fundraising round may fail to attract attention. It is very prevalent when financial resources are abundant in all areas. An insider from a prominent crypto media organization said that their bar for covering fundraising news is a minimum amount of $10 million, with exemptions.
Initially, this may seem paradoxical; but, in a more adverse market environment, that same outlet may just seek a modest $5 million, or even a $1.4 million, seed oval, like to the recent funding obtained by crypto payment gateway Lyzi to improve its Tezos-based service.
In essence, Lyzi has announced its presence and its ongoing efforts to develop its product. In a climate of market pessimism, this may represent a shrewd and opportune public relations strategy, including the potential for coverage by outlets like as CoinDesk.
Seize the microphone while others are silent.
Offering professional analysis during periods of industry silence becomes more significant. Journalists continue to seek outside sources and insights, presenting an opportunity for you to position yourself as an authority person in the industry, to whom journalists will return when the bull market resumes.
This indicates that during periods of tranquility in the cryptocurrency sector, one should be prepared when a journalist arrives at your doorstep. Engaging a proficient PR agency to guide you, craft your narrative, and give a platform is undoubtedly a prudent decision; nonetheless, it is your responsibility to assertively embrace the limelight.
Execution remains important
Consequently, refrain from indiscriminately disseminating news just for its own purpose. Be judicious with scheduling, considering vacations, conferences, and other events that may eclipse your announcement, in addition to the tone—this is not an occasion for boasting but for demonstrating resilience and worth.
Utilize periods of market downturn to enhance your reputation and expand your digital presence via earned media placement in reputable cryptocurrency publications. Prospective users, collaborators, and investors will do internet research on you; thus, ensure that favorable information is readily available—this reflects your public relations efforts operating behind the scenes.
The fundamental conclusion
In summary, cryptocurrency public relations during periods of market stasis and unfavorable sentiment focuses more on showcasing genuine content than promoting buzz. It involves constructing a story that depicts you as the resilient crypto participant, so enhancing your brand’s sitting down.
