Not a Luxury: What Every Founder Needs to Know About PR
Not a Luxury, A Necessity
Public Relations (PR) is often viewed as a luxury, reserved for the deep-pocketed or multinational conglomerates. PR is not just about press releases or flashy media for large-scale companies. PR is a strategic investment in your startup's most important asset – its reputation. In a world oversaturated with information, effective PR is the differentiator that allows your startup to breakthrough and market your business in a noisy ecosystem.
READ MORE: Breakthrough: How to Market Your Business in a Noisy Ecosystem — Evocati PR
However, given its vast landscape and varying approaches, PR can be murky to navigate, especially for those who are new. The right PR strategy can propel you to new heights, ensuring your stories are heard, your brand is recognized, and your business revenue multiplies. Below we'll break down the essentials every founder needs to know about PR.
Power Perceived is Power Achieved
Your company's value is derived not just from what it does, but how you're perceived by stakeholders—this is called brand equity. Building and maintaining brand equity is a long-term endeavor, and PR is the engine driving its growth.
Virality is the best and worst part of the game. We saw that firsthand as our client, the National Potato Council, earned hundreds of mentions in print and broadcast, including a comedic bit on The Tonight Show with Jimmy Fallon.
READ MORE: Never Stop Never Stopping: Potatoes Take Off, Again — Evocati PR
However, one crisis can take decades of brand equity and destroy it like a Kaiju stomping through Tokyo. PR is powerful because perception is powerful. Here are three reasons why you should consider investing in PR to increase brand equity.
Understand Your 'Why' and Origin Story
Evocati PR’s President & Founder Barrett Y. Bogue sharing the firm’s origin story to Bunker Labs participants. (Source: Evocati PR)
PR for startups is more than blasting out a press release for every minor piece of news and business development; it's about telling a compelling story. Every successful startup has a 'why' behind its inception – a problem to solve, a change to make, or a passion to pursue. PR is the articulation of this 'why' and sharing it with the world.
Start by asking yourself: "What inspired you to start your business? What sets you apart from the competition? What are the pain points of your customers, and how do you address them uniquely?" Your story should be authentic, relatable, and resonate to captivate the press and the public.
READ MORE: Before You Leap: Understanding the Role of PR in Your Entrepreneurial Journey — Evocati PR
Developing your startup's story is an ongoing process. It must evolve with your business, reflecting your growth, challenges, and achievements. Having a consistent and concise narrative with staying power is essential. Your story is not just for external consumption; it should inspire your team and influence your company culture.
In this way, PR serves as an internal and external brand-building tool, aligning your team's efforts with your mission. Effective PR firms like Evocati PR will help you craft and share your story with the world helping you build brand equity.
Take Advantage of Timing
In PR, timing can make or break a story. At different stages of your startup's journey, you'll have various announcements to make – from product launches to funding rounds, from pivotal partnerships to expansion plans. Each of these scenarios requires a measured approach to timing. A PR firm can help you identify the most effective time to make a public announcement that increases brand equity and is newsworthy.
READ MORE: Small PR Giants: Uncovering the Hidden Powers of Micro PR Agencies — Evocati PR
For funding announcements, you may wish to coincide an announcement with a major industry event. Product releases might be best timed to take advantage of seasonal trends. Strategically break down major industry events to find when would be a good time, and when would be a poor time. All of these must be done in the context of achieving brand equity and fostering brand loyalty. A PR firm can help you do both.
Build Authentic Media Relationships
PR is fundamentally about relationships, with media, stakeholders, customers, and your community. In the startup world, authentic relationships are your secret weapon.
READ MORE: Generating Media Attention: A Guide for your Startup
When building media relationships, we focus on quality over quantity. We identify journalists who cover your industry and develop a mutually beneficial relationship. We understand that putting 100 percent effort into one relationship pays more dividends than giving one percent to 100 relationships. Doing so increases the likelihood that your stories will be published in the best outlets at the most opportune times.
You Got This
PR can be a force multiplier for your startup. By understanding the power of perception, knowing your 'why' and story, timing your announcements strategically, and building authentic relationships, you can transform PR from Pandora's Box to an effective tool in your toolbelt.
For founders looking to stay ahead of the competition, PR is not a luxury; it's an irreplaceable piece of the startup toolkit. When approached with thoughtfulness and strategy, PR can be the catalyst that propels your startup to success, attracting customers, talent, and investors simultaneously.
Remember, in the startup world, perception is often reality. By owning your narrative and managing it effectively through PR, you set the stage for success. Firms like ours can help you navigate this process and achieve results. Now that you're squared away, contact us below to get started, and let us tell your story.