by Cagla Ertugrul
The phrase crypto PR is being thrown around a lot these days. On paper, this is a good sign because it indicates that the industry is growing and the needs of businesses within it are being catered to.
But what exactly is crypto PR? And how is it different from traditional PR? After all, the latter has existed for decades now and with the influx of information about the former, they might be hard to distinguish. For an entrepreneur, it might also be hard to figure out which might be better for your business.
What Are the Differences?
The differences between crypto PR and traditional PR are as follows:
The first and most obvious difference between the two is that crypto PR is catered specifically to the crypto and blockchain sectors. Crypto PR firms have mostly crypto, blockchain, and DeFi-related projects and companies as their clients and deal almost exclusively in that market.
Traditional PR, on the other hand, isn’t restricted to the crypto industry and might not even include it at all. Many traditional PR firms might, instead, deal with consumer goods companies, public figures, and so on.
2. Communication channels
One of the defining differences between crypto PR and traditional PR is the channels that their messages are spread through. A lot of traditional PR focuses on classic channels like newspapers, television, as well as new media.
Crypto media, on the other hand, meets their customer base where they are and focuses very heavily on new media. Besides efforts like placements on popular sites and interviews, crypto PR also focuses on social media sites, popular forums, influencer marketing, and so on.
3. Promotional format
While your traditional PR companies tend to offer promotion via things like press releases, articles, and interviews, crypto PR also includes other non-traditional formats of promotion.
For example, some crypto PR firms craft social media posts, posts for online forums, and so on. This is because crypto PR firms focus a lot on digital media and their strategies include engaging with all platforms that the crypto community actively uses. So while they will craft press releases for news sites, they will also develop posts for Reddit and captions for Instagram.
4. Industry engagement
One of the unique parts of the crypto PR space is that it operates in one of the most fast-paced and dynamic industries in the world. Thus, PR firms that operate in that much of a fast-paced environment will change quickly as well to keep up.
While traditional PR firms also evolve with their industries, crypto PR firms are in a unique position in that their industry changes every few months. From the rise of crypto to DeFi to NFT to the metaverse to Web3, these firms tend to update their services to serve new sub-niches much faster than others.
5. Industry longevity
The traditional PR sector has been around for decades at this point and is established around the world. The crypto PR scene, on the other hand, has only been in existence for about a decade, which is how long cryptocurrency has been in the spotlight.
While this means that they are not as established as traditional PR, they are at the forefront of one of the most revolutionary technological movements and have to be more innovative as a result.
While they might sound similar, crypto PR and traditional PR are very different fields. This is mostly due to the fact that the former operates in a niche and unusual market which means that its practices, channels, and audiences are as unique as crypto itself.