How to Craft Compelling Press Releases for Crypto Projects

Writing and distributing press releases are one of the most traditional marketing strategies and for newer industries like Web3 they hold special value. While decentralization is at the core of Web3, marketers still need to use strategies that let them control the narrative. 

Regularly issuing press releases should be part of the marketing mix when promoting your initial coin offering (ICO), for example. That said, there are various examples of press releases like campaign launches, new hires, and partnership announcements, making them relevant to any Web3 project.  

As it’s an official statement that’s written by your marketing team and published by reputable media outlets, it solves two major pain points. You have a straightforward path to raising awareness and you get to choose which aspect of your project should be highlighted. 

Here’s how to use press releases to inform target audiences and keep them interested.   

Understanding the Unique Aspects of Crypto Press Releases

The Web3 industry is often criticized for its volatility and lack of regulation. With press releases, crypto marketing managers can not only promote Web3 projects but also establish credibility and build trust, especially among potential investors, at the same time.  

How Web3 Press Releases Differ From Traditional Press Releases

The decentralized nature of Web3 projects and the technical aspects of blockchain create a different context for writing press releases compared to traditional industries. Transparency, technical accuracy, and the need to educate the audience are crucial.

When compared to traditional press releases, crypto press releases differ in the following ways:

• Terminology: The language used in crypto press releases is unique and often highly technical unlike traditional press releases that typically use more generalized business language.
• Audience: The audience for Web3 press releases is more niche. They are typically well-informed and expect detailed, technical information. Traditional press releases, on the other hand, target a broader audience, which can even include the general public. 
• Regulatory considerations: To gain the trust of both investors and the general public, it’s necessary to explain the steps that you take to comply with existing regulations. 
• Distribution channels: Web3 press releases often rely on specialized blockchain news platforms, forums, and social media channels like X (ex-Twitter). For traditional press releases, mainstream media outlets and corporate websites work fine.

6 Key Elements of a Successful Crypto Press Release

There are a number of essential elements that make up a press release. Each of the following, irrespective of its length, has a specific role to play.

1. Catchy Headline

The headline is the first thing that your target audience and journalists will see. It should be catchy, informative and communicate the essence of your announcement clearly.

To see what it looks like in practice, you can refer to the examples shared at the end.

2. Compelling Lead

Your lead refers to the opening paragraph of your press release. Like your headline, it too should catch your audience’s attention and cut to the chase. The goal is to offer a brief overview of your announcement.

3. Detailed Body

The body of a crypto press release should provide all the essential information. While it will be more detailed than your headline and lead, it should also be written succinctly and clearly.

To do this, structure it by including the following sections. Each of these sections should serve a goal and add to the overall message.

• Problem Statement: The problem statement should clearly define the issue or gap in the market that the Web3 project aims to address and highlight why this problem is significant. This helps to create urgency for your news.
• Your problem statement also helps to create a context, making it more relatable to your target audience.
• Solution Offered by the Web3 Project: Next, describe how your Web3 project addresses the problem. Now, is your opportunity to highlight the innovative and technical aspects of your project.
• Key Features and Benefits: When writing about the features, it’s necessary to tie these to the benefits that they bring too. Be sure to take a user-centric approach. The focus should be on how users will benefit and the features will improve their experience.

4. Quotes from Key Stakeholders

Quotes from key stakeholders, such as the project’s founder, developers, industry experts or investors, add credibility. It also helps to add a human element to your press release.

5. Call to Action

A press release can also be used to drive traffic to your website, encourage newsletter signups, and follow you on social media. To do that effectively, you need to use a call-to-action (CTA) prompt.

Basically, it’s a phrase that tells your readers what you would like them to do next that’s usually placed after the main body of your press release. In other words, what step should they take after reading it? Like your headline, this too should be clear and restricted to a few words.

6. Contact Information

Web3 press releases should also have detailed contact information for media inquiries. This should include:

• the contact person’s name,
• email address and phone number of the point of contact,
• links to your website and social media channels (this is optional, but can help with building a Web3 community).

Step-by-Step Guide to Writing a Crypto Press Release

The best approach to writing a press release is to tackle it step by step. That said, you might find that with some steps the sequence isn’t as linear. For example, you could be writing your headline and lead at the same time which is perfectly normal or tweak your headline after you’ve written the body. 

Step 1: Research and Understand Your Audience

Like with most other digital marketing strategies, the first step when it comes to writing a press release is also to get to know your target audience better. It goes beyond knowing if you’re targeting investors or developers. You need to dig deeper and research their interests and the type of info that they value, for example. 

Methods that you can use for audience research include:

• Quantitative research that includes data about demographics which can be gathered by means of analytics tools and data capture forms;
• Qualitative research that includes opinions and interests which can be gathered via questionnaires and surveys;
• Competitive analysis. 

The information gathered can then be used to analyze them and create different segments within the larger audience. This way, you can customize your press releases (and other marketing messages), helping you to remain relevant and offer true value. 

Step 2: Craft a Catchy and Informative Headline

This is your opportunity to motivate your audience to read further and encourage media outlets to publish it. While it’s short, its importance shouldn’t be underestimated. 

It also takes more time to craft this line. In fact, you’ll possibly find that you need to change it after you’ve written your whole press release. 

Effective press release headlines are generally restricted to 10 words. As your headline may be only a single, short sentence, you need to pick your words carefully. Building blocks to help you craft a clear and catchy headline are strong, active verbs, adjectives, and relevant keywords. 

Examples of these power words and industry keywords that perform well when used in press release headlines are:

• Exclusive
• First
• Only
• Invests
• Enhances
• Expands
• Data security and privacy
• Innovation
• Groundbreaking
• Strategic partnership 
• Scalable
• ATH (all-time high)
• Regulation
• ROI (return on investment)

It also often uses a formula like: 

• The name of the company followed by their noteworthy achievement 
• A new feature followed by a benefit 

It can also work well to include a statistic or percentage. Numbers like these can make the headline more compelling.

NinjaPromo’s Insights:

While the Web3 industry often generates solutions ahead of time and creates services for which there is no established demand, it’s not always the case. It’s highly recommended to refer to an existing service or niche that everyone is familiar with, for example by introducing a platform as “LinkedIn killer” or “the next-gen Twitter”.

George Proshin, Head of PR and Communications

As for grammar and punctuation considerations: 

• Use the present tense (even if the action already happened)
• Stick to the active voice 
• Where appropriate, use a colon or comma to keep it short

Step 3: Write a Strong Lead Paragraph

In your lead, you want to cover the most newsworthy aspects—the who, what, when, where, and why. It should focus on the specific announcement you want to share. General background information about your company should be left for the boilerplate (a short paragraph at the end that shares core company info). 

To catch their attention, include an intriguing angle. You can, for example, add a statistic, a new development in the industry, or highlight what the implication is of your news reveal. These types of hooks also increase the chances that it will get shared on social media too, increasing the lifespan and reach of your story. 

Here’s a lead paragraph checklist that you can follow:

• Include the date and location of where the press release is issued;
• Introduce the who;
• Explain the what (for example, the name of the service or product);
• Answer the why.

Step 4: Develop the Body with Relevant Details

The rest of the body should be used to share extra specifics about the information you shared in the lead. You can use these paragraphs to share background information, insights, and future impacts. 

Once again, relevant statistics and data can work well in this section. Numbers can substantiate claims and show your company’s credibility at the same time. 

Step 5: Include Quotes From Stakeholders

Effective press releases have one to two quotes from stakeholders. It makes the press release credible, both to the media outlets that will publish it as well as to the readers. 

While it’s the stakeholder who’s doing the talking, the copywriter also has an important role to play. It’s only by asking the right questions that you’ll get a quote that offers insight. Plus, the stakeholders must also understand the context in which their quotes will be used.

Here are examples of questions to ask for gathering deep insights that will add value:

• How does this development align with your project’s goals?
• What is the significance of this announcement for the company?
• What key benefits will this development offer?
• What excites you about this announcement?
• What are the next steps following this announcement?
• How do you envision the impact of this development on the crypto market?
• Was this development/event/launch influenced by any user feedback?

These questions are merely guidelines to help you structure the interview. If one of these answers needs further clarification or is particularly intriguing, you can also ask a follow-up question.

Step 6: Add a Call to Action

When writing your call to action, you need to find the balance between creating urgency, yet not come across as too pushy. You also need to keep the rest of the press release’s content in mind as CTAs need context to work. 

Like with your headline, strong action verbs are often used in CTAs. You have only a few words and need to use a clear verb to encourage the appropriate action. 

Examples of how CTAs are used in crypto press releases include:

• For more information about the partnership, please visit our website. 
• Follow us on X for updates on how we’re transforming the industry. 
• Join the team at the event for an in-depth look at what the free tier can unlock.

Step 7: Don’t Forget to Add Contact Information

As mentioned earlier, you need to share contact information in case there are media inquiries. Unlike your headline, lead, or body, this requires zero creativity and flair. It’s simply a matter of copying and pasting the details.

Here’s a template for this short section that you can use.

Contact Information

For media inquiries, please contact:

• [Name and Surname or PR representative]
• Email: [Email address]
• Phone: [Phone number]

Step 8: Proofread and Edit

You need to proofread your document for accuracy, clarity, and language. Any mistake—even a typo—can make you sound less credible. 

Unlike a blog post published on your own website, changing a typo in a press release after it’s been published is much more difficult. So, you’ll want to prioritize this step. Better yet delegate it to a fresh set of eyes. 

Examples of tools that automate much of the proofreading task include:

• Grammarly
• QuillBot
• Semrush

NinjaPromo’s Insights:

While it’s unacceptable and unprofessional to completely rely on AI, in 2024 you can’t ignore it either. In my experience what works is feeding AI the structure of the text, asking it for ideas, then actually writing the text and using a proof-reading (AI-based or not) service to polish it.

George Proshin, Head of PR and Communications

Step 9: Distribute the Press Release

Content distribution is nearly just as challenging as writing the actual press release. According to a survey completed by PRWeek and Cision:

59% of senior-level professionals struggle to distribute content.

When choosing a distribution platform, consider its targeted reach and credibility. You want to use a platform that’s trusted among your target audience. 

Popular distribution platforms and press release distribution services in the crypto industry include:

• Chainwire
• CoinDesk
• Cointelegraph
• The Block
• PR Newswire

For example, for a PR campaign for HTX.com (formerly called Huobi.com), we reached out to publications like CoinDesk and The Block. Here, we shared a couple of security-themed articles. While the campaign was small and resulted in only 13 publications, the total reach was estimated at between 1.5 and 3 million views. 

Don’t rule out social media. Even platforms like X and Reddit can generate significant visibility for your press release.

NinjaPromo’s Insights:

If you know that one of your or your partners’ spokespersons is a key opinion leader with a sizeable social media following, their repost of your press release or announcement in free form can yield you even better results than the PR campaign itself, especially if your project is just getting traction. Fully utilize your networking resources on every occasion.

George Proshin, Head of PR and Communications

Examples of Crypto Press Releases

For an idea of what these elements look like in real life, here are several examples and a summary of why they work. 

Examples of Headlines

Headlines shouldn’t reveal everything. It should share just enough information to get readers interested, yet give them enough reason to continue reading. For example, this headline about Crypto Unicorns, a Web3 game, works because it mentions benefits like rewards but readers will need to read further to find out which these benefits are. 

Numbers and statistics can also effectively capture attention. They’re usually impressive and add to the readability. For example, instead of simply announcing their Web3 quiz championship, BLOCKSMIT & Co. ensures to mention the prize money at stake.

Examples of Leads

Not only does the headline revealing Crypto Unicorns’ launch serve as a great example, but also the opening paragraph. It answers key questions like the what and when. 

For an example of how to add a hook, you can refer to this lead announcing WEMIX’s investment in Elixir Games. Instead of simply announcing the investment, it also introduces the reasoning behind it. Readers are encouraged to read further to find out more about how it will grow the platform.

Examples of Crypto Press Release Bodies

For an example of how you should structure the body of your press release, you can look at the press release announcing DRiP Haus acquiring Vault Music. It has a problem statement—independent artists struggle to sustain their careers directly via their own fanbase. 

Then, it shifts attention to the solution offered (new royalty models) and their benefits (an improved fan experience and transformed creator economy). 

Examples of Quotes From Key Stakeholders

For an example of an effective quote, you can refer to Bitget CEO’s comment on the updated valuation of their Protection Fund. It works because it’s short, highlights the benefits, and briefly touches upon what the future holds in store.

The quotes also don’t need to come from the same person. For this press release that announces a new appointment it makes sense to include one quote from the founder or CEO as well as one from the new appointment.

Common Mistakes to Avoid

Knowing how to structure your press release and what to include is just as important as knowing what to avoid. Here are four mistakes that are often made:

Overloading With Jargon

As mentioned earlier, a press release for a crypto project uses more technical terminology. That’s fine, but you need to find a balance. For example, instead of using DEX or DApp from the start, introduce the terms as Decentralized Exchange (DEX) and Decentralized Application (DApp) so you can use the acronyms later.

When you use too much jargon, you run the risk of losing your audience’s interest. It can especially be annoying to those without an in-depth knowledge of the field. 

In many cases, you can use simpler alternatives. For example, instead of using the term whale, you can use the phrase “big investor”. Rather than writing gas fees, say Ethereum network transaction fees.

Failing to Highlight Unique Selling Points

While a press release shouldn’t be overly self-promotional, you should highlight your unique selling points (USPs). This is one of the ways to set your project apart. 

To do this, look at the current landscape. Are there gaps that your announcement can fill? The audience research that you’ve completed in the first step will help with this. 

Another way to identify your USPs is to identify your best features and zoom in on their benefits. Look at the user feedback that you’ve received too—there might be other USPs that you haven’t considered. 

Ignoring SEO Best Practices

Search engine optimization (SEO) isn’t just restricted to your website copy. It can also help your press release to show up higher in the search engine results. Not only that, but you’ll also reach the right audience. 

As you won’t have to worry about the technical aspects of the website where it will be published, it’s even more straightforward. Basically, the main tasks are to:

• Incorporate the right keywords, 
• Optimize for readability by using short sentences and paragraphs,
• Add a few high-quality images (and include alt text for the images),
• Include backlinks to reputable sources.

Poor Distribution Strategies

Along with SEO, effective distribution is one of the main factors that can maximize your reach.

One of the most common mistakes is sending it at the wrong time. It’s best not to release your press releases during a major holiday or when there’s a significant industry event (unless you’re the event, of course).

Another common mistake that’s easily avoidable is failing to follow up. After you send your press release, the work isn’t done yet. You still need to send personalized follow-up messages and check your inbox to see if more info is needed.

Not Analyzing PR Performance

Press releases aren’t directly tied to metrics like conversion rates or sales. However, it’s crucial to assess the key PR indicators for each campaign. This helps improve future efforts by removing what doesn’t work and testing new strategies.

Key indicators to track include:

• number of mentions (total number of separate news sites that published your piece of content e.g. press release),
• estimated views (approximated with the help of a service like Prowly or Awario),
• number of backlinks (because coverage varies and not all mentions warrant a backlink to your site).

Use your previous releases and campaigns of your competitors as benchmarks to see if you underperformed or did well.

Always consider views from syndicated content (to various platforms such as Coinmarketcap, Coingecko, Binance) and social media engagement, not just direct website traffic.