Personal relations (PR) may very well be a term that belongs to the marketing industry, but in reality, it’s a communication process that’s effective irrespective of what industry it’s being used in.
Whether a company is looking to improve its credibility, expand its reach, or build new partnerships, a well-thought-out PR plan is what lays the groundwork to make such an aim become a reality.
Such goals are the fundamental reason why blockchain PR is set to become big business in the years ahead. Despite the technology gaining traction in the mainstream media, consumers still view it as risky and unsafe.
Changing perceptions and educating consumers on the advantages of the technology will be fundamental to its chances of success. We’ve come up with a list of three ways of building a PR plan that helps deliver this, below:
1) Think Long-Term
Online advertising has meant that companies can launch ads and gather analytical feedback and results in the space of 24 hours.
Unfortunately, PR doesn’t work in the same way. It requires patience. Building relationships and gaining trust takes time. It’s akin to growing an apple tree and waiting for it to bear fruit.
That fruit often can’t be analyzed or tracked in the same way as other online advertising. The return of interest on any PR spend can only be judged on factors such as whether a company is its reaching targets, keeping competitors out of the media, and building valuable relationships.
The end goal of almost any PR strategy is to gain mentions on websites and in the press without paying a single dime. In a world where new cryptocurrencies are popping up seemingly every day, this could be crucial in helping to establish a brand as a blockchain leader in the eyes of the general public.
2) Simplify Blockchain as Much as Humanly Possible
There are countless explanations online as to how blockchain technology works. Many are designed with beginners in mind yet still manage to miss the mark due to their use of technical language.
A recent survey of 3,000 HSBC customer from around the world is a testimony to this opinion. Despite 41% of respondents claiming to have heard of blockchain technology, only two in ten of that figure said that they understood how the technology worked.
That disconnect is why companies championing the cause of blockchain technology need to consider hiring external technical writers or copywriters. They’re capable of turning complex language into everyday jargon that the average consumer can understand.
3) Never Lie
Making any sort of misleading claim – no matter how big or small – can have huge ramifications for companies both in terms of legal action and consumer confidence.
A perfect example of this recently came from the initial coin offering company Carvertical, who claimed to have struck up a partnership with German automotive company BMW to build the “first ever connect report for cars”. Their claim was immediately rebuked by BMW on Twitter.
BMW has not entered into a cooperation/partnership with CarVertical. The company is using our BMW CarData interface available to any third party.
— BMW USA (@BMWUSA) March 20, 2018
BMW’s swift response on the 20th of March saw the value of the company’s currency drop, and to this day, it’s yet to recover.
This is a lesson that any sort of bad PR for a blockchain company, particularly one in its infancy, can prove to be fatal.