If you’ve picked up a newspaper, magazine or opened your internet browser, you likely already know that blockchain technology is on fire. It is one of the fastest growing industries across the world. With startups popping up with blockchain based solutions to almost every application you can think of, how does one get funded and go on to make an impact in this exciting and evolving landscape?
Unfortunately, the tough truth is that the vast majority of startups fail in the first 3 years. It is a tough market, especially for someone just entering the playing field. When no one knows you, how can you possibly build a successful business? You probably can’t. So the next natural question that follows is: how do you become known?
The answer lies in PR. If you are starting a new business in the blockchain industry (or any industry), here are 7 reasons you need to get in the media right now.
PR Raises Awareness of your Startup
People trust companies and brands that they know. And the only way they can know about your startup is if they are aware that it exists. Investors and the public alike have to read about you, hear about you and begin to trust you before your business can become a success. The best way to raise awareness is to get published by a third party media such as a popular magazine, website, or podcast.
PR Builds Credibility
Being featured in a magazine or article builds credibility a lot quicker than a paid advertisement ever will. It isn’t a direct sell of your product or service so it builds trust in your audience. You become an authority in your niche and the trust builds.
PR Helps with Reputation Management
Media features for your startup are important for your image and maintaining the reputation of your company and brand. PR can help you overcome negative reviews or unsatisfied customers lashing out at your company through social media (it happens!) The media can help repair any damage so that those negative things don’t leave a permanent mark.
The Media Helps Promote your Business
Even when an article is primarily on adding value for your reader and industry, the mention of your company and your name is a promotion. People that are interested in what you do and what you have to offer will click your links or search for you online to find out more. You can build your email lists and social media following organically just by having your name in the media.
PR Helps Build Valuable Connections
So much of a successful business lies in building the right connections. They can make or break your company’s chances of survival. When you invest time, energy and resources into PR, you will find and build valuable connections with others in your industry, those looking to potentially invest and those who will help promote your business.
Media Helps Find your Target Audience
Every company has its unique message, unique service or product and unique target audience. It can be tough to find the right people to build your audience with, but PR makes that a whole lot easier. When your startup is featured in the media, your target audience is able to find you. As they read their favorite publications, they will see you. And if you are sharing your unique message, the readers who identify with it will begin to follow you. Your audience will grow with the exact type of people you need in your company.
PR Doesn’t Have to Cost an Arm and Leg
Just because being featured in a popular magazine may be pricey, not all PR has to cost much (or any) money. If you are on a tight budget, you can pitch to media outlets on your own. If you have a budget, you can hire a PR company to help get you featured in more outlets quicker. But as you build more connections and are featured more, it will only get easier and easier to gain more publicity. Starting small is completely doable, especially if you have a great idea and foundation behind your business.
PR can change the reality of your business, especially in a tech-related field such as blockchain. Because the industry is on fire, startups should take advantage and get their names out there as much as possible. If you do it right, your company will grow, gain followers and become successful. The media is a powerful way to build your business.