How to measure the effectiveness of a Crypto PR campaign

Gauging the success and effectiveness of a crypto PR campaign is essential. Using various metrics can provide much-needed insights into whether a campaign is performing as expected. Every brand benefits from tracking campaign performance, both short and long-term.

PR Campaign Analysis Is Key

For many crypto brands, getting the word out about their company, product, or service is done through PR campaigns. A Press Release is an excellent marketing tool to distribute information to a large audience and pick readers' interest. Moreover, it is a great way of increasing overall brand awareness, as a PR campaign enhances the level of recognition among a target audience.

In this digital marketing era, PR campaigns have become an even more versatile tool. The internet increases the reach of a PR message and yields numerous media impressions. Unfortunately, there are also new challenges to contend with as a PR expert. Measuring the results of a crypto PR campaign is necessary, as individual brands may require a different approach to achieve the results they need.

Planning, Planning, Planning

An integral first step to gauging the success of a PR campaign is planning. If there are no measurable goals, milestones, or objectives, it is impossible to determine if a campaign performs well. More importantly, the lack of planning prevents experts and brands from adjusting their strategy, leaving business goals out of reach.

For a cryptocurrency brand, it is essential to communicate with its PR expert and determine the goals to be achieved. Goals will help form the strategy for a PR campaign, whether it is raising project awareness, communicating new products and services, or implementing a call to action. Every objective requires a slightly different PR approach and paves the way for tracking performance through various metrics.

Metrics Tell The Bigger Story

Once the planning element has been sorted, it is essential to lay the groundwork for tracking the PR campaign's performance. It is insufficient to launch a campaign and let it run its course without analyzing it further. A crypto PR campaign is a living creature that needs adjusting and fine-tuning along the way. Using the necessary metrics to track performance helps teams to make these adjustments when the opportunity arises.

Brand Mentions

The first crucial metric is figuring out how often (based on volume) a crypto brand is mentioned. The overall mentions across social media and the broader internet should increase when running a PR campaign. That applies to hashtags tied to the campaign as well. However, if neither the brand nor the hashtag shows any significant mentions, an investigation is necessary to identify potential shortcomings.

Engagement And User Interaction

Spreading the message through a PR campaign can reach an audience of millions of users. However, one core objective is to ensure these people engage with the message and brand. Figuring out overall user engagement will help identify how well the campaign performs. For example, if most readers display a "bounce rate" behavior, the content may not be engaging or relevant enough.

Another aspect to consider is how many people "like" and "share" content through social media channels. If no one shares or likes a Tweet or Facebook post, there is a disconnect between the crypto PR campaign and its intended audience. Social media is a powerful tool to track user engagement.

Overall Reach

Distributing a PR campaign can bring a brand message to millions of people, but only if it reaches that audience correctly. Figuring out how many people see your message - either on social media or otherwise - can help determine if a campaign needs to be adjusted. A combination of reach and user engagement will highlight overall interaction with the campaign, giving the PR expert substantial information on how to take things to the next level.

Are people talking about your brand or project? What tone do they use to engage in these conversations? Word of mouth is one of the top marketing methods, and having more people talk about your project or brand is often a good thing. In addition, sparking online discussions and engaging with the crypto audience will further enhance the PR campaign's visibility.

It is easy to calculate the share of voice through this formula:

SOV metrics + Your Brand Metric / Total Market Metric x100

Marketers and PR experts will use key tools to calculate SOV metrics, including organic and PPC keywords, social shares, impressions, hashtags, etc. Collecting that data for your brand is only the first step, as the information needs to be compared to competitors'. For example, dividing your mentions by those of competitors and multiplying it by 100 will give an accurate "share of the voice" number.

Website Traffic

One objective of a crypto PR campaign is driving an audience to the website, representing your project or brand. Therefore, figuring out whether website traffic increases - or perhaps decreases - is an essential metric to monitor during the campaign.

An extra tool to wield is UTM links, which let you track where users are coming from and which sources, platforms, or websites increase overall brand awareness.

Cointraffic Is Your Crypto PR Expert

All the planning and metrics can only do so much, as crypto PR campaign success also depends on which PR expert one uses. Cointraffic embodies years of expertise and knowledge across crucial industry verticals, including cryptocurrency, blockchain, decentralized finance, Web3, etc.

More importantly, Cointraffic works closely with numerous cryptocurrency and blockchain media outlets to ensure optimal PR campaign distribution. Campaigns can use UTM links to track individual outlet performance, allowing the team to adjust the campaign on the fly. Together with the other trackable metrics, Cointraffic ensures PR campaigns achieve their goal of increasing brand awareness and overall interaction.