With blockchain startups popping up every day, it can be impossible to determine which ones will survive and which ones will fail. After all, the unfortunate statistic shows that most startups fail within the first three years. While that statistic is daunting for entrepreneurs (especially those in such a new industry), you can look at the successful businesses to see what they did to overcome the majority. One of the commonalities you will see among blockchain startups is that they are adequately covered in the media. They have likely chosen a PR agency to represent them, and therefore, investors and followers know who they are and what they have to offer. It is no secret that media coverage is important, but how do you choose the right PR agency for your blockchain biz?
Make Sure They Know the Space
Blockchain technology is complex and relatively new, and not every PR agency is going to know what it is all about. Without the correct knowledge or at least adequate knowledge, the agent will not know where your business needs to be published or which editors to contact. They won’t be able to suggest story ideas or help proof your article prior to submission. And what is likely most important, the right PR agency will have lots of contacts. After all, it is often who you know that matters most. If your business gets in front of the right people, you could have endorsements and coverage that could take your business to the next level. The right contacts and exposure may even lead to investments and critical funding for your projects.
Make Sure They Know Your Audience
Blockchain technology is a big piece of the puzzle, but because its application is far-reaching and spans across all industries, your PR agent must be aware of and knowledgeable about exactly who your target audience is comprised of. It won’t do your business much good to be published in a medical journal if your blockchain biz focuses on streamlining the voting process. And while your business might be interesting to the mainstream blockchain audience, you must get in front of the people who will benefit from your company’s mission as well. Your PR agent should have contacts and be well informed of your target audience.
Do your Research
Before investing your money in a PR agency, do your research. Make sure that the PR agency you select or the agencies you are comparing have good ratings and a good reputation. Check into stories they have published to make sure you like the way they look, feel and read. Talk to the PR agent and ensure you get along with him/her. Make sure they are passionate about what they do and will genuinely care about your success.
Stay in the Loop
Just because you finally select a PR agency and expert, it doesn’t mean that you are off of the hook. Of course you will be the most knowledgeable person when it comes to your specific business, but you may know nothing about PR. And while that is okay, you should always stay in the loop and check in on things. Ask around, look around and keep an open loop of communication with your PR agent. Measure your results.
And just as you aren’t a PR expert, your PR agency will not be well versed in your particular business even if they know blockchain. Because of this, you will need to make sure your company is represented accurately in the media and that all articles written are 100% correct. The last thing your business needs is false data out in the media.
There is no doubt that PR can make or break your blockchain biz. Being in the media is critical. However, there are a lot of PR agencies out there, and they aren’t all a great match. Follow these suggestions to ensure you set yourself up for success by choosing the right PR agency.