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by Yuval Halevi
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A Call for Transparency: Unmasking the Pretense in Crypto Projects
In the early days of the crypto industry, mistakes were somewhat accepted. However that era has come to an end. Crypto companies must now prioritize improving marketing, transparency and delivering genuine value. They carry a responsibility towards followers, users, investors, & the entire community
Addressing the evolving dynamics of crypto projects from the perspective of a PR agency within this rapidly expanding industry is both a privilege and a challenge. At GuerrillaBuzz, we’ve had the opportunity to work closely with a diverse array of companies, sharing our values and approach to ensure our clients adopt sustainable, ethical, and effective strategies.
However, when we examine the broader crypto space, we find concerning trends and practices that go against the principles. It’s not just a matter of our own values, but also the standard practices observed in any industry. Companies should focus on purposeful marketing campaigns that lead to real, sustainable growth rather than relying on short-lived hype. It’s important to stay grounded and realistic about their current capabilities rather than making lofty claims of changing the world without having a functional website or tangible technology beyond mere whitepaper ideas. Embracing these foundational principles and industry norms is crucial to establish credibility and foster genuine progress in the crypto space.
Our intention is not to point fingers but to foster an open discussion about the importance of transparency, authenticity, and sustainable growth in the crypto industry. Recognizing the impact we can make, we’re shifting our focus in two significant directions:
- Educating companies: Our goal is to teach companies in the crypto space everything they need to know regarding marketing and PR. This spans from basics to advanced topics, including conducting keyword research, crafting winning blog content, securing organic PR, and building genuine, engaged communities.
- Enlightening the community: We aim to guide individuals in understanding the potential of a project based on their marketing activities, discerning what makes a project viral from a marketing and SEO perspective, and encouraging projects to invest in sustainable, long-term growth strategies rather than creating fleeting hype.
We believe this dual focus will not only promote transparency and ethical practices but also foster a healthier, more robust crypto industry. Join us in this pursuit as we usher in a new era of authenticity and sustainable growth in the crypto world.
To support this shift, it’s crucial to identify and understand some prevalent practices within the crypto industry that are counterproductive to fostering trust and transparency. It is important to note that our intention is not to critique but to illuminate the said practices for better understanding and growth. The following table contrasts these practices with their healthier, more sustainable alternatives. This serves as a concise guideline for companies looking to enhance their marketing strategies and improve overall authenticity in their interactions with the community and the wider crypto ecosystem.
| Bad Practice | Why It's Bad | Good Practice |
|---|---|---|
| Faking community on Telegram/Discord | It looks bad; engagement is low; only the admins are talking; other opinions are silenced. | Focus on quality over quantity. Foster active, real communities who support the project and act as user advocates. |
| Project-centric marketing activities without value | Continuous announcements without valuable content; the blog is filled only with announcements, no insightful or value-adding content. | Balance announcements with in-depth, insightful content. Provide updates and details on progress, aiming for transparency. |
| Creating hype only during fundraising and bull markets | It's not sustainable or authentic. It can lead to loss of interest and trust once the hype is over. | Make marketing a part of ongoing expenses. Budgets may vary, but stopping content creation halts growth. Stopping SEO and PR curtails success. |
| Relying only on paid PR | Paid PR or sponsored articles aren't very effective. They might look good on inhouse checklists but don't resonate with the target audience. | Focus on organic PR. Create interesting articles and pitch ideas to journalists. Invest in creative marketing strategies to boost organic PR. |
| Sponsoring only the largest conferences | It may appear as if the company is trying to buy prestige rather than earning it through providing value. | Consider smaller and medium conferences. Earn your seat by providing value, not just paying for visibility. |
| Misrepresenting employee roles on LinkedIn | It's dishonest and creates mistrust among potential partners, investors, and community members. When discovered, it can lead to a significant reputation damage. | Be transparent about who is part of the team, their roles, and their qualifications. Honesty will foster trust, respect, and credibility. |
| Neglecting solid foundations like a Crunchbase profile | Lack of basic information can be a red flag for potential partners, investors, and community members, and it doesn't help build authority and transparency. | Create and verify a Crunchbase profile. Show information about the founders, the company's address, amount raised, and other necessary information. Build a solid foundation of trust and authority. |
| Using logos of sites where they have never been mentioned | This dishonest practice can severely damage the project's reputation if discovered. It also undermines trust and authenticity. | Only showcase logos of sites where you have genuinely been featured or mentioned. Authenticity builds credibility and trust. |
To visualize the essential aspects companies should implement in their marketing process, we’ve categorized them into three main categories. Their subcategories are marked in yellow.
Conclusion
There was a time when the crypto industry was young, so some mistakes were expected. But that time has passed. Crypto companies now need to do better. They need to improve their marketing, be more open about their work, and create real value for their audience. These companies have a responsibility to their followers, users, investors, and the entire community. If they don’t meet these expectations, they risk losing trust, which harms their business and the whole crypto industry.
While it might seem challenging to make these changes, it’s important for the health and future of the industry. By adopting better practices, we can help set a new standard. And if the crypto community cares about this and demands it, companies will have no choice but to step up their game. This will make the industry better for everyone, as businesses will need to offer higher-quality marketing to attract investors and users, and those investors and users will benefit from greater transparency and value.
Author
Yuval Halevi
Yuval is a savvy SEO and marketing expert with over a decade of experience. Specializing in the blockchain industry, he's the go-to guy for crypto companies looking to simplify their digital marketing strategies and achieve explosive growth. As a digital nomad and successful company builder, Yuval brings a fresh, creative perspective to every project he tackles.