When is your crypto startup PR-ready?

While some crypto startup founders understand the value of a good public relations (PR) strategy, few understand what goes into making one's efforts a success or where to start. And even fewer have the time to tackle this on their own without the direction of PR professionals.

This blog provides a checklist of questions and guidelines crypto startups considering PR should ask themselves before tapping into this kind of strategic communication. It also addresses misconceptions, myths, and misunderstandings that founders need to recognize and adjust to.

PR is, first and foremost, about amplifying awareness

If you have an up-and-coming crypto startup, you’re not going to emerge with your brand presence already in tow. You will need to build your company reputation from scratch and gain credibility by ensuring your startup and leadership are being spoken about in the right places. Sound simple enough? 

So many founders expect to see their startup featured on TechCrunch, CoinDesk, or Cointelegraph in no time, without anything newsworthy to share or a milestone on the horizon. If you’re expecting media opportunities for your startup, you need a pipeline of upcoming news stories that fit into current news cycles and resonate with journalists and their audiences. And merely existing is not news.

For example, COP28 is well underway, so if your crypto startup is improving supply chain traceability or amplifying carbon credit management, this is the ideal time to make your real-world use cases known. Product launches, a partnership with a key player more well-known than your startup, or even a noteworthy funding round are all newsworthy. It’s ultimately your PR team that is distanced enough from your product or service, who will be able to identify the best angles and storytelling to use based on what is being shared in the media at a particular point. 

Brand clarity and propagating your narrative is the new flex 

It may seem obvious, but your PR efforts should revolve around your crypto startup’s core narrative. Ask yourself,  “Does my brand have clarity, and does the key messaging resonate not only with my customers but with the media?” 

A common mistake startups make is assuming that customer speak, hashtags, and good marketing translate into good PR messaging. Yes, the pain points you’re solving and your key differentiators are vital ingredients. Still, so much more goes into crafting a seamless storyline that is stripped of complex industry terminology yet gripping for readers.

Your PR team should be able to craft your key messaging by adapting your company’s selling points in a way that mixes emotion and impact. Good messaging conveys why your product or service is important. Great messaging does the former, conveys your startup’s value proposition, and can be amplified and communicated to multiple audiences and platforms. 

Earned media takes time, as does strategic communication  If you don’t have any newsworthy stories to share for the time being and are still focused on building your tech and perfecting your product or service, it doesn’t mean PR isn’t for you. It means a large part of your PR efforts will focus on building recognition for your leadership team – and, as a result, your company – through engagement and sharing the above brand narrative. 

The voice of your crypto startup doesn’t have to be its founder or even the CEO, however, crypto PR is most effective when a C-level executive is willing to dedicate time to representing the company and gain credibility through strategic communication. These efforts include everything from educating the public about crypto through thought leadership and networking at events to making podcast appearances and responding to journalists’ requests for commentary without expecting anything in return.

Crypto founders wanting to take on this role should ask themselves, “Am I able to make myself available for the array of media opportunities PR professionals will work towards obtaining?” Also, “Do I need guidance on how to share my brand’s narrative confidently and clearly?” If so, PR experts will be able to guide you on how to deliver your messaging in a natural way and share best practices to remember during interviews and appearances.

Clear and realistic goals have always been the most important 

Whether your objective is to gain credibility and trust to attract investments, mold a consistent brand identity, or improve your brand reputation, before engaging in PR, you should know what the overarching goals for your startup are. 

If you’re not sure what you want for your company, your PR team won’t know either. One thing is for sure – PR isn’t about quick stints or short-term lead generation and sales. Sure, these goals are attainable over the long term through brand building, but getting the word out about your startup and the amazing things you’re doing is the basis of a lot of PR efforts.

There is no perfect formula for gaining media exposure and you may resonate with some or all of the above. What’s important to understand is that each component, from your overarching goals and key messaging to reaching out to reporters and audience engagement is what an end-to-end PR strategy will look like. The most successful relationships between a crypto startup and a PR team are the ones built on communication and clearly delineated goals.