When a lot of us think of public relations, our minds go to the dramatic press conferences with flashing lights and admissions of wrongdoing. Or maybe we think of the glamorous press conferences where a celebrity is announced as the newest ambassador for a company. But what about crypto press conferences?
Companies in the crypto space hold conferences all the time, whether it is to announce positive developments or negative ones. But how do you know whether such a conference is needed? We break it down in this article:
Does the Development Need a Visual?
Take a moment to consider what the fundamental difference is between putting out a press release and holding a crypto press conference. After all, isn’t the point of both to simply announce new developments in the company? The answer is yet but keep in mind that a press release is a written statement circulated virtually across media platforms while a crypto press conference invites the press to come and report on the crypto development as it is being announced.
Just like the movies have depicted, there is a lot of pomp and pageantry, with the goal being to release visuals as well as the news. We’ve all seen the pictures of executives speaking at press conferences and deals being publicly signed and handshakes exchanged, all for the press to take pictures of. But not every development needs this sort of visual. If your company is announcing a top footballer as your new ambassador, you probably want a press release where they can pose beside your logo. The same applies if a new merger has been signed. If a smaller development is being announced, you might not need to bother with a press release.
Can You Spare Reporting Time?
When you’re working with crypto PR, you’re often under a strict timeline. After all, one of the reasons why we offer guaranteed publication in under 24 hours here at BTCWire is that many businesses want their news reported fast. Let’s say your business will be participating in an upcoming conference and you want to tell the public. In under 24 hours, you can write the press release, reach out to a service like ours and have it published. If you choose to hold a press conference, you have to navigate the process of securing a venue, having everyone show up, inviting the media, and waiting for them to write the story and publish it.
Unless it is an especially groundbreaking announcement, you might not have it reported on the same day. If the development is one you can spare a few days for, this will be fine. But if it is especially time-sensitive, a press release might slow you down without enough benefits attached.
Is It Tied to Wider In-Person Effort?
When it comes to crypto PR, cohesion is the name of the game. Every effort, especially if it relates to a single development, needs to make sense in part of the wider context. For example, your business might have released several different crypto wallets and done all your promo online. If you then begin holding in-person press conferences, there should be a cohesive reason why. Is this the biggest and best crypto wallet you’ve ever released? Will all wallets follow this promotional pattern moving forward? Is there a new spokesperson to unveil it?
If your business will, for example, launch a series of pop-up events and other in-person efforts with regard to this new development, a press conference makes sense. But if no other PR efforts benefit from a press conference then you might not really need one. Before you begin planning a press conference, look into your PR strategy for the upcoming months and make sure that it makes sense in that context.
Do You Have the Resources and Contacts?
PR costs money and gets even more expensive when your PR efforts are done in the material world. Think of it this way; it costs hundreds or even thousands of dollars to have your press release on major crypto news websites. Imagine how much it would cost to have them come physically to a location of your choice to cover a new development. It would have to either be the biggest crypto development of all time or you’ll be shelling out a lot of money.
So, before you rush to organize a crypto press conference, ask yourself if you have the funds to invite the media. Besides inviting the media, you’ll also have to hire/prepare a venue, print relevant material, and much more. Putting aside the cost, you’ll need certain media contacts to even wrangle major publications to cover the story.
If your business has these resources in abundance, you may go ahead. And if not, it might be better to forgo a press conference.
Does a Crypto Press Conference Help Your Larger PR Strategy?
At the end of the day, you know your business and know whether or not a crypto press conference will truly benefit you. Sure, there is a cost and time implication but what are you looking to gain from it? A press conference can be a chance to build a deeper relationship with the media and get more eyes on your business. Holding a press conference can be a way to stand out and boost your business’s profile in the industry. If you have a long-term crypto PR strategy that will benefit from a crypto press conference, go ahead and do it. If you don’t you may want to reconsider.
Conclusion
A crypto press conference can be an amazing way to drum up publicity for a business in the Web3 space. But while it offers tons of benefits, it is not the right approach for every business and in every instance. As we’ve broken down in this article, you have to consider the time, effort, and money that goes into organizing one, as well as whether it works with your larger goals.
