Liquidity Lounge#7| The Podcast Transcription
In this episode we are joined by Kim from PR Genius, a seasoned expert in the evolving field of cryptocurrency public relations. Today, Kim shares her deep insights into how crypto PR has transformed over the years and what new strategies and tactics are essential as we move into 2024. This conversation covers everything from building trust with stakeholders to managing crises and innovating community engagement in the dynamic crypto environment.
Key Topics Covered
1. Evolution of Crypto PR: Kim discusses the progression from niche community focus to broader audience engagement, including investors and regulators. She emphasizes the importance of adapting PR strategies as the crypto industry continues to mature.
2. Building Trust in 2024: Highlighting the need for transparency and corporate responsibility, Kim suggests using customer testimonials, personal branding of leaders, and corporate social responsibility initiatives to build trust and credibility.
3. Innovative Community Engagement: Strategies such as hosting virtual reality events, implementing decentralized autonomous organizations (DAOs), and gamifying content are discussed as ways to enhance community involvement and support for crypto projects.
4. Crisis Management: Kim underscores the necessity of having a robust crisis management plan, proactive communication, and post-crisis analysis to handle potential setbacks effectively and maintain stakeholder trust.
5. PR Strategies for Smaller Budgets: Practical advice for projects with limited resources, including partnering with niche influencers, engaging in co-marketing efforts, and maximizing social media and online community platforms to boost visibility and impact.
Mids Capital: Welcome everyone! Today, we have Kim from PR Genius joining us. Kim, thank you for being here. Can you summarise the evolution of crypto PR and what strategies should be emphasized in 2024?
Kim: Thank you for having me, Mids Capital. Crypto PR has certainly undergone significant evolution. Initially focused on building awareness within the crypto community, it has now expanded its scope to target broader audiences, including investors, regulators, and the general public. In 2024, as the crypto industry continues to mature, strategies should place a strong emphasis on transparency, trust, and corporate responsibility. With increased scrutiny around security and regulation compliance, it’s crucial for projects to build and maintain trust with their stakeholders.
Mids Capital: That’s insightful, Kim. What tactics do you recommend for building trust in the crypto space?
Kim: Building trust in the crypto space requires a multifaceted approach. First and foremost, projects should leverage customer testimonials to showcase real-world use cases and success stories. Additionally, establishing personal branding for project leaders can help humanise the project and create a sense of credibility. Corporate social responsibility initiatives are also essential, demonstrating a commitment to social and environmental causes beyond profit. By combining these tactics, projects can cultivate trust and credibility with investors and the wider community.
Mids Capital: Innovative community engagement seems crucial. What approaches do you suggest for that?
Kim: Absolutely, community engagement is vital for fostering a strong and supportive ecosystem around a project. One innovative approach is to host virtual or augmented reality events, providing an immersive experience that allows community members to interact with each other and the project team. Decentralizing governance through a DAO (Decentralized Autonomous Organization) can also empower community members to have a direct say in project decisions, fostering a sense of ownership and participation. Additionally, gamifying content with crypto quests and personalised recommendations can incentivize engagement and create a more dynamic and interactive community environment.
Mids Capital: Crisis management is vital in any industry. What strategies do you recommend for handling crises in the crypto space?
Kim: Crisis management in the crypto space requires a proactive and transparent approach. Projects should have a clear crisis management plan in place, which includes consulting legal teams to understand the potential implications of the crisis and developing a coordinated response strategy. It’s also crucial to review and analyse the response after the crisis has been resolved, identifying areas for improvement and implementing changes to mitigate similar issues in the future. Leveraging community goodwill during crises can also be beneficial, as a supportive and engaged community can help mitigate reputational damage and rebuild trust.
Mids Capital: For projects with smaller budgets, what PR ideas do you suggest?
Kim: Smaller budget projects may face additional challenges when it comes to PR, but there are still plenty of effective strategies they can employ. One approach is to collaborate with smaller crypto YouTube channels and influencers, who often have highly engaged and niche audiences. Co-marketing campaigns with non-competing industries can also be a cost-effective way to expand reach and attract new audiences. Additionally, leveraging social media platforms and online communities can help smaller projects connect with their target audience and build brand awareness without breaking the bank.
Mids Capital: Thank you, Kim, for sharing these valuable insights with us today. To summarise, strategies for 2024 should emphasise transparency, trust, and corporate responsibility. Tactics for building trust include customer testimonials, personal branding, and CSR initiatives, while innovative community engagement approaches and crisis management strategies are crucial for navigating challenges in the crypto space. Smaller budget projects can still make an impact by collaborating with influencers and leveraging online communities.
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