No, a Sponsored Labeled Crypto Press Release Is Not An Alternative to Editorial Coverage

In the realm of cryptocurrencies, distribution services specialized in this field have experienced significant growth. They position themselves as more affordable options for projects seeking increased exposure through sponsored press releases. During periods of financial hardship in the crypto market, otherwise known as the “crypto winter,” when marketing budgets were constrained, these services proved particularly appealing.

Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.

As a researcher studying the cryptocurrency market during its recent downturn from late 2021 through mid-2023, I found that most projects were faced with tight budgets due to the bearish market conditions. The allure of distributing press releases to numerous websites with just one click was an appealing solution for many in this cost-conscious environment.

As an analyst, I would question whether a shotgun-approach is indeed the most productive strategy for gaining PR coverage and establishing credibility and trust for your project. While it may seem appealing to cast a wide net and reach out to as many media outlets as possible, the results might not be as impactful or sustainable as focusing on targeted, strategic outreach. By identifying key influencers, publications, and audiences that align with your project’s mission, values, and goals, you can build more authentic and meaningful relationships that are likely to yield better outcomes in the long run.

Far more ‘misses’ than ‘hits’

A person well-versed in the inner workings of press release distribution would recognize the reasons why employing them is frequently ill-advised.

As a market analysis specialist, I’ve observed that press release distribution services collaborate extensively with cryptocurrency news platforms to secure sponsored placements. However, I must caution that the reliability and trustworthiness of the resulting coverage can be debatable.

Using these services, press releases may be described as “widely disseminated,” meaning they will appear on numerous news platforms, including crypto-centric ones. However, many of these publications may feature the content in areas with lower traffic and less editorial oversight, such as unedited sections or sponsored columns. Consequently, readers are unlikely to encounter insightful analysis, expert opinions, or unique perspectives on the events within the press releases. Instead, they will find a verbatim reproduction of the original release, clearly marked as an advertisement, which fails to engender credibility or trust for the projects in question.

As a researcher studying the cryptocurrency news landscape, I find it unfortunate when significant stories, such as a $15 million funding round, get overlooked due to automated syndication. Even though this is newsworthy and could potentially merit an editorial piece, editors might deem it unnecessary to write a unique article since it has already been published elsewhere. In my perspective, the company that opted for paid distribution made an error in judgment, but they are not alone in making such a choice. There are numerous instances of newsworthy crypto stories facing a similar fate.

Isn’t it reasonable to assume that these cryptocurrency releases are disseminated to a larger group of journalistic professionals in the field as well? It’s likely that one of them would be interested in writing an editorial piece about it.

Earned media is the way to go

If you seek comprehensive and reliable coverage for your news on a well-respected platform, I would recommend reaching out directly to an experienced journalist. By having your story covered by a professional journalist, it adds credibility and authenticity, implying that your news is valuable and worth readers’ interest.

An effective media pitch is a strategic approach to engaging journalists or editors by presenting them with compelling and newsworthy stories that resonate with their audience. The pitch itself is a succinct and targeted message designed to capture their attention and incentivize coverage. Skilled marketers recognize the importance of this method, as journalists are frequently inundated with numerous pitches daily. As a result, successful pitches are typically clear, concise, and personalized, emphasizing the key aspects of the news and explaining why it holds relevance and appeal.

As a researcher studying media relations, I’ve discovered that a monotonous lineup of syndicated headlines pales in comparison to an engaging and tailored pitch. The latter significantly increases the chances of capturing journalists’ interest. Moreover, since the story will be written by a journalist themselves, the resulting PR piece will resonate more authentically with readers.

But otherwise, no.