If you’ve been following our blog, you know the importance of crypto PR. From drumming up publicity for positive developments to putting out media fires, any company operating in the crypto space needs to invest time and effort into their PR. But does this include having a crypto PR manager?
Many factors will determine this for each business, and in this article, we will delve into what exactly a crypto PR manager will do, the implications of hiring one, and whether it might be the best decision for your company.
What Is The Crypto PR Manager?
As the name implies, and crypto PR manager is a person specifically hired to manage the PR affairs of a crypto company. As a business in the crypto space, you’re likely needing press releases put out, communication with various journalists and media houses, engagements with the public, and guidance during times of PR crises.
Approaching this, you can opt to handle your crypto PR in-house, i.e higher someone full or part-time to handle these duties for you, or you could choose to outsource it to an external agency or use services like what we offer here and BTCWire. If you’re considering which option is best for you, there are a few factors you should keep in mind.
The Cost
As a business, the cost of hiring a crypto PR manager will obviously be one of your biggest considerations. An in-house manager will typically earn between $35,000 to $60,000 a year, if not more, depending on their expertise. If you choose to hire an agency, on the other hand, you can look to pay if you thousand dollars a month as a retainer fee.
In exchange for this, the agency or the individual you hire will take care of all of your PR needs. The idea behind paying a flat rate per month or per year is that they will essentially be at your beck and call. Because PR is a 24-hour affair, your crypto PR manager will work late into the night to ensure publicity for your new project or work on the weekends if a scandal occurs.
An alternative would be to individually pay for the different aspects of a crypto PR manager’s job. If, for example, you want to have your press release distributed on top sites, you might not need a manager for this. Instead, you could opt for some of the services we offer here at BTCWire. By choosing one of our packages, you could have your press release published on a myriad of high-ranking and high-authority websites without any issues.
Ultimately, whether or not you should hire a crypto PR manager from a cost perspective depends on your individual business and if you have the budget for it.
Your Crypto PR Needs
Every crypto company is not the same, and the needs of one will not apply to others. A company on the scale of Binance or Coinbase will have an entire publicity department, as well as input from external agencies to manage its PR. This is because the company likely puts out several PRs per week and has to manage a reputation across multiple continents and millions of customers.
If your business is on this scale, then having not just an in-house crypto PR manager for an in-house crypto PR team might be in order. If your business is a mid-sized one, you might only need one crypto PR professional within your team or benefit from outsourcing to an agency. If your company is just starting out and has limited needs, you could always use one of the services that we offer and expand your team as your company grows.
Industry Trends
Every crypto company is subject to the changes that take place within the industry, and this impacts their crypto PR attitudes as well. For example, a business that dealt primarily with NFTs would have had fewer PR needs over the last two years. But as the NFT space seems to be making a comeback, their PR needs might increase.
During periods of market winters, many crypto companies find themselves cutting down on staff, and PR might be considered non-essential. If you find yourself in that situation, you might not need an in-house crypto PR manager. But during periods of bull runs and other market expansions, crypto PR needs increase, and this necessitates the hiring of new staff.
Another time that necessitates more crypto PR manager hiring is if your business is going through a rapid expansion. Outside of specific industry growth, you might find that your sales are increasing or your business simply wants to aggressively capture more market share. In that case, you’re best off not leaving your PR to chance and instead hiring a professional.
This is also true if you’re facing very stiff market competition or find yourself going through a period of tricky public perception. It’s not unheard of for businesses to hire entire PR teams after going through a publicity crisis or needing to rebrand. If you find yourself in any of these situations, having an in-house crypto PR manager would be best.
Conclusion
A crypto PR manager can be one of the best hiring decisions your business can make. The right manager will help you generate the publicity you need for your products and services and keep you at the forefront of consumers’ minds. Such a manager will also help you navigate the tricky waters of public perception, dodging scandals, putting out fires, and crafting a long-term public image.
Ultimately, whether or not you hire this manager at any given time depends on your business. You might not have the budget for it or might simply not need that level of PR attention. If you do, however, need that much help or feel like your business will benefit from it, don’t hesitate to hire one with a wealth of experience.