Three Strong Examples of PR Case Studies in Crypto
In Brief
The crypto market, currently valued at over $1.21 trillion in 2023, is experiencing a resurgence after the crypto winter, driven by effective PR campaigns that attract capital, new users, and funding.
Although down from all-time highs after the crypto winter, the thaw seems to have begun in the world of cryptocurrency. Currently, in 2023, the total market value of crypto is holding out at over $1.21 trillion, demonstrating the huge amount of capital that is streaming into all blockchain-related services. Part of the movement of funds into this field comes from public interest, often that which is generated through effective PR campaigns and launched.
Good PR case studies demonstrate the value of this field, helping to bring in new users, secure new funding, and revitalize people’s interest in this financial medium. Over the past few years, we’ve seen a dazzling array of crypto PR case studies. As a younger field, most of the most impressive PR launches are the first of their kind, with a brand being able to use a unique approach to cultivate new interest in their brand and product.
Why is PR so Effective in the Crypto Industry?
The cryptocurrency industry, as a younger sector that many people still do not fully trust, has a unique standing. Unlike many industries, cryptocurrency companies need to first convince their audience of the validity of their entire financial medium, before even beginning to sell a product.
Currently, around 90% of Americans cannot pass a basic crypto literacy test, not understanding very basic concepts about what cryptocurrency is and what it does. With this lack of education considered, any brand that wants to launch into public favor has an uphill battle to push through. This instant disadvantage is one of the leading reasons that cryptocurrency companies often turn to PR experts to launch their campaigns.
Creating momentum, especially in the public sphere, is also made more difficult by cryptocurrency falling under Google’s Your Money; Your Life principles. YM; YL is a stringent set of search regulations that ensure that any results related to finance, healthcare, or legal advice, must meet an additional set of requirements to rank well on Google.
Due to this, typical organic search engine optimization strategies require much more groundwork before they yield results, creating further frustrations for new brands in this space. With these core issues considered, PR in cryptocurrency is essential.
The CoinBase Super Bowl Ad
During the 2022 Super Bowl, CoinBase – a well-known cryptocurrency exchange – launched a one-minute ad. This ad consists of a flashy QR code that bounces around the screen, reminiscent of the colorful bouncing DVD logo. Although extremely simple, this ad promised anyone who signed up by the platform by the end of February a free $15 in Bitcoin.
With the upward trajectory at the time, this was a powerful offering, helping to engage users and drive installs. In the week that followed the Super Bowl, the app saw a 309% increase in downloads and a further 286% increase in the following days. This impressive result demonstrated the power of a well-placed and simplistic campaign.
Equally, CoinBase followed up the ad with a range of press releases, helping it to snowball media attention. By writing and then engaging with crypto newswire services, they were able to create powerful news beats that flooded the internet before and after the event. This powerful strategy ensured that people continued to talk about the ad for weeks after the minute advert had ended.
The Binance Burj Khalifa Light Show
For many users, cryptocurrency is still a flashy new medium that not many understand. To align with this expectation and then subvert it, Binance ran an extremely flashy ad on the Burj Khalifa. After obtaining a permit, they conducted a minute-long light show on the building, with impressive visuals capturing the attention of the city.
The Binance account commented on the spectacle, suggesting that this event was a demonstration of their commitment to the region. Especially considering the high average wealth of a resident of Dubai, the event was extremely well-positioned and helped to increase public awareness and positive perceptions of the brand.
Crypto.com’s Fortune Favors the Brave
Late in 2022, Crypto.com announced a new advertising campaign that centered around the slogan “Fortune favors the brave.” The campaign was headed up by Matt Damon, using traditional celebrity influencer marketing to make the public take an interest in the campaign.
Considering the general public’s liking of Matt Damon, this was a stunt that pulled in a huge amount of both public and media attention, helping to increase public awareness of the crypto.com brand. Over the next few months of running the campaign, this slogan was all over internet media, traditional billboards in major cities around the world, and even in newspapers.
For Crypto.com, the campaign managed to garner lots of public attention. However, it has come under attack in recent months due to the fall in average crypto prices and Matt Damon’s association with this changing financial landscape.
Final Thoughts
Although still an evolving field that has a lot of ground to make, cryptocurrency is one of the most exciting new entries into the world of public relations. Crypto PR has the unique advantage of adventuring into uncharted territory, with each new campaign having the chance to overcome previous entries into this arena.
Over the past few years, we’ve seen time and time again that creative teams can completely change the face of crypto PR, taking innovative approaches and cultivating dazzling results in the process. The examples we’ve used on this list, whether it be entering into the traditional arena with CoinBase, mounting a spectacle like Binance, or a winning and repeatable slogan like Crypto.com, all demonstrate just how powerful crypto PR can be.
With increased registrations, piqued interest in a brand, and a range of positive benefits for searchability and brand recognition, crypto PR is a vital tool for companies looking to rapidly grow in this space.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
