𝗣𝗥: 𝗛𝗲𝗿𝗼 𝗼𝗿 𝗩𝗶𝗹𝗹𝗮𝗶𝗻?
As you struggle for traction, it's tempting to signal help to Public Relations. But will PR rescue your business, or cause its demise?
Consider these scenarios:
𝗣𝗼𝗼𝗿 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻. PR can bolster your number of mentions, but with so much noise, it’s hard to truly impact your target audience. A better approach is a strong business bolstered by word of mouth.
𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗣𝗿𝗲𝘀𝘀𝘂𝗿𝗲. Some investors expect you to pay for PR based on their experience. Understand what outcomes they expect and then focus on the results you seek, not just one channel.
𝗙𝗮𝗰𝗲 𝘆𝗼𝘂𝗿 𝗲𝗴𝗼. Good press can be flattering and even addictive. Stick to objective ROIs and remember that many companies have been wildly successful without significant marketing or Public Relations.
𝗪𝗵𝗮𝘁 𝘁𝗼 𝗱𝗼? In the early stage, it's best if you can handle PR internally. Target the right reporters and influencers and simply their effort by concisely noting major accomplishments and clients.
Another option is to pay for PR in a limited scope, e.g. promote a huge product release.
At the early stage, PR rarely produces success. First, make your business solid.
𝑻𝒉𝒆 𝒄𝒂𝒑𝒆 𝒅𝒐𝒆𝒔𝒏'𝒕 𝒎𝒂𝒌𝒆 𝒕𝒉𝒆 𝒉𝒆𝒓𝒐.
Elad Gil in 𝐻𝑖𝑔ℎ 𝐺𝑟𝑜𝑤𝑡ℎ 𝐻𝑎𝑛𝑑𝑏𝑜𝑜𝑘 summarizes it nicely, “Don’t confuse press coverage with traction and remember to focus on the company’s core metrics. And do not think that a good press cycle can cover up [or somehow makes up] for a bad business decision.”
This post discusses challenge networks: https://www.webuildscalegrow.com/post/8a32d43e
Photo by Iván Tamás who can be found here: https://bit.ly/3sGlIuU