Web 3.0 is transforming how brands communicate with their stakeholders: Anjali Kakkar

In the last 10 years, PR has taken a different dimension, especially after the entry of social media and the rapid shift to digital, especially in the pandemic period. At the same time the industry has been facing stiff challenges, moreover client expectations have also increased, with more emphasis being given to digital and online reputation management. The industry has undergone a radical shift and the current times have pushed the industry to change gears.

In conversation with Adgully, Anjali Kakkar, Vice President - Corporate Communications, CoinDCX, speaks about the evolution of PR function to become digitally-driven in the mobile-first internet age

The overall industry has been disrupted due to the pandemic. What are the PR challenges that you faced in the last two years? How did you navigate during the pandemic and what was the role of PR during those times?

The media has already increasingly been digital in the past decade and similarly, the PR function has had ample time to switch gears, evolving to become equally digitally-driven in the mobile-first internet age. As the pandemic grew rampant, out-of-home advertising dwindled sharply and marketing dollars became limited, making it essential for PR to drive brand awareness and education and keep brand names afloat amidst the uncertainty.

The PR function became important to field questions, consumer concerns and worries in the unpredictability of the pandemic. A powerful narrative, supported by strong communications programs has become essential in the age where our operating environment has become digital and distributed. Effective PR campaigns have become critical in helping brands build credibility and thought leadership in a time of uncertainty, and this has also been a core focus for CoinDCX. CoinDCX has harnessed the power of PR to address key questions and concerns around the nascent industry. When COVID came around, we have been very effective in our digital communications strategy given that we have also been a digital-first organisation.

You have been on both the client and agency side of the PR business. How has PR evolved in the last 10 years? Any significant shifts that you have noticed?

While I have always worked in corporates with the support of agencies, in my opinion, the last decade was marked by the distinct rise of Web 2.0 which made social media a ubiquitous medium and a core part of everyday life amongst the masses. The interconnectivity and the mainstreaming of participatory culture altered communications on how information was consumed and produced. Naturally, public relations had to mirror this demand, creating content and strategies to harness the power of Facebook, Instagram, Twitter and LinkedIn. This meant leveraging new digital tools and ways of messaging and communicating to drive brand awareness, education and reputation. It has also become a primary avenue through which brands represent themselves and respond to crises.

Now, when we look at what has happened over the last few years, it is clear that Web 3.0 is transforming the way brands communicate with their stakeholders. This is particularly true for the blockchain and crypto industry, where brands have been very effective in using next-gen community driven channels such as Discord and Telegram to reach out to, and connect with their target audiences. The idea of customer co-creation and community engagement in the Web 3.0 era is a significant shift we are witnessing now, and it has certainly given us plenty of opportunities to experiment with innovative and exciting ways to communicate and engage with our customers.

As we continue to work in a digital world, the rise of Big Data has also created a new opportunity for PR to tap on. Statistics on campaigns, news articles, mentions, features and thought leadership content can offer insights into the pulse of industries and consumers, allowing agencies and companies to better finetune communications and strategies. This is a particularly exciting development because we can now have a sense of how our messages and campaigns are being perceived in real time, and brands can adjust accordingly. This has profound implications in the way brands plan and executive creative campaigns because everything will now be happening in real time, and the communications practitioners will have the golden opportunity to evolve their craft in response to the expectations and aspirations of their organisations and customers.

Cryptocurrencies are something new and need a lot of education. So, what kind of PR strategy have you planned so far to educate your potential investors in CoinDCX?

While crypto has been around for quite some time, its recent surge into the mainstream has driven its prominence and grown interest in the sector, making education even more paramount. With a focus on making sure we raise awareness of crypto to the masses, we have leveraged multiple channels of communications, and use different vernaculars to appeal to a broad base of audience. This ensures that a wide spectrum of society knows more about, and understands the transformative potential of crypto.

Using social media channels such as YouTube, Instagram, Facebook and Twitter have also been key to reaching younger audiences such as millennials and Gen Z investors, providing accessible educational content from platforms that they are familiar with. Our campaigns have been particularly focused on educating people on crypto and blockchain, demystifying the industry, and to lower barriers of entry, so investors can participate in the future of finance confidently.

Beyond just communications campaigns that we run, CoinDCX has also launched DCX Learn, a full-fledged crypto and blockchain learning platform for novice retail investors to learn the basic fundamentals and for seasoned crypto traders to further their skills. This is a commitment to the crypto industry and to India, as we build greater understanding and awareness of crypto from the ground up. Especially with the misconceptions of crypto, it is necessary for leading crypto players such as CoinDCX to correctly inform the public and battle misinformation and drive clarity in the sector as crypto continues to take centre stage in business and finance.

Digital transformation has changed the media dynamics. What’s your view of managing brand reputation online and how have you managed the same for your company?

The pandemic has indeed accelerated digital transformation trends around the globe, as evidenced by the development and use of next generation technologies in many industries, PR included. Shifting to an increasingly digital approach to manage brands has yielded positive results, helping some of the big names in the industry to entrench their market leadership and become more consumer-oriented. From a CoinDCX perspective, we have invested in various digital tools that help gather intelligence and consumer sentiments. We have kept our audience and community engaged and updated by conducting a series of webinars and briefings on various topics relevant to the industry.

CoinDCX is certified as a great place to work. How did you manage to build the reputation for your organisation and what was the role of PR in this journey?

Our ability to consistently remain an employer of choice lies in our commitment to ensure our employees always feel valued. The success of CoinDCX would not have been possible if not for our people – they are our most valuable resource and ensuring they are motivated, engaged and able to realise their aspirations is our priority. In cultivating a cohesive workplace environment that meets both the professional and personal needs of our colleagues, we are committed to creating equal opportunities for all with no discrimination whatsoever. Employees are also empowered and given the autonomy to perform at their best, this has not only led to the successes for CoinDCX as a firm, but also enhanced our employer branding to prospective talents.

The role of PR comes in to help amplify the exciting work that we do, along with the people-centric culture and environment that we have built. Through the use of thoughtful content, and strategic media opportunities, we have been able to shine the spotlight on our organisation to our target audience – and this includes prospective employees and the industry at large. Our communications effort around CoinDCX being a great place to work has also sharpened our competitive positioning in the tech sector, and has helped us in attracting and retaining world-class talents that continue to contribute to the success of the company.

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