Every business needs proper public relations for it to grow and eventually succeed in the industry. Public Relations or PR is the handling of information about a brand, product or company, and disseminating that data to the public or its market. These days, public relations and marketing campaigns go hand in hand, both equally important in making a business relevant in the eyes of the consumers and target audience.
A lot of the public relations done is highlighting the positive and trying to blur out the negative about a certain company. Reaching out to traditional media and social media partners is one of the ways that public relations can affect and impact certain trends in the business world. Any publicity is good for the company because good publicity allows the company to have leverage, while bad publicity gives them notoriety. Either way, their brand gets tattooed into the consumers’ minds.
The crucial thing to remember about public relations is that any kind of news regarding a company could easily affect its trade value in the stock market. Right now, cryptocurrency is gaining popularity as an alternative to the usual stock market investments. As people are getting more interested in the ICO or initial coin offering world, public relations is getting more relevant for altcoins like PR Crypto, DasCoin and others.
1. Positive Trends Done with PR for Crypto
Technology has granted better access to information for the public, and public relations serves as one of the many strategies for effectively communicating about their offering. One of the positive influences of PR for Crypto is that the target markets and target audiences get more insight on the whitepapers and up-and-coming altcoins that hope to penetrate the cryptocurrency market.
Another positive trend done by public relations is improving the slow rise of other altcoins. Right now, with Bitcoin value slowly dropping, the people are looking for alternatives to their investments. Public relations have helped consumers and potential investors in their search for the next cryptocurrency to invest in. By highlighting the niche or unique selling point of the coin, PR allows each alt coin the fighting chance to get the support that they need for their company.
Negative Trends Due to Public Relations
Due to the oversaturation of information some coins like PR Crypto don’t get as much attention as Bitcoin and its affiliate coins. Public relations could also lead to negative trends like those cryptocurrencies that can’t afford a good PR team, can’t get the fair value as others that can afford to have marketing tactics in place.
One negative trend of cryptocurrency is the apparent legitimizing of fraudulent altcoins due to good PR tactics. Not all of the coins that are in the market are apparently legitimate but those that aren’t (but could afford PR) have gotten victims. The good thing though is that there is a litigating body that deals with such cases so the victims somehow get their money back.
Public Relations versus Informed Public
Most public relations technique involves a lot of highlighting and blurring; often, they are caught over sensationalizing something for the purpose of making a shocking impact on the public. Sometimes, they don’t want to draw light into certain negative issues so they either discredit opposing parties or they focus on something positive.