Power of PR in the Start-Ups
Starting a new business is a big challenge especially in today’s competitive conditions. When it comes to PR, it isn’t something you invest after you successfully enter the market, it is something you should invest in so that you can successfully enter the market. It has the potential to reshape and maintain almost every other area of the business. Here are some ways that PR helps for early-stage startups.
Your brand identity embodies the voice and personality of your company. It strengthens your credibility; helps you build trust and loyalty with your customers. To engage in PR, companies need to cultivate a sense of identity. Who are we as a brand? What are our key messages? What sets us apart from the competition? PR is an efficient way to build a brand, communicate with a target market and attract further investment. When suitably executed, PR can reap large dividends.
PR acts like a bridge between the brand and the audience. The media coverage helps in communicating with the audience and positively influence them. There are numerous stakeholders involved in this process like the company spokespersons, stock analysts, investors, influencers, industry experts, customers, employees, and even the competition. As a business having control over all stakeholders may not be possible, however, PR helps the brand in making your voice heard and build thought leadership for your brand in the industry.
The brand’s relationship with various stakeholders isn’t supposed to always be about your business. PR helps the brand to have an inside out approach about the business and solve issues with the help of product and services. The responsibility of the brand should always be ‘Doing good’ as once the stakeholders lose interest they will shift to your competition in a jiffy. Evaluating ‘what is newsworthy’ will help you stay relevant and if the brand successfully accomplishes then PR will help your brand reach new heights.
It’s not an easy task to help startups gain media attention, but always remember that public relations are more effective than any branded content at all stages of a buyer’s journey. The most famous startups that are now in the big league: Uber, Airbnb and Dropbox have leveraged powerful PR tactics to get where they are today.