How Lean PR Can Get Your Startup Off The Launchpad

Since the release of Google’s Panda and Penguin algorithm updates, public relations has taken center stage as an effective means of gaining visibility for business. A large number of commentators, most notably Forbes contributor Ken Krogue in his piece, “The Death of SEO: The Rise of Social, PR and Real Content,” have noted the increased importance of PR in creating valuable content that gets noticed—which ultimately creates media buzz and boosts business.

PR Strategies that Work

That’s the kind of media attention startups need to gain traction, impress investors and grab the attention of prospective customers. The trick is to employ innovative PR strategies that will maximize your chances of success.

Below are four ways an effective PR campaign can help launch your startup:

Create a Personal Brand

Throughout his life and after his death, media outlets were fascinated by the circumstances which led to Steve Jobs’ co-founding of Apple. They wanted to know about Apple, but also about Jobs, the man—the fact that he was adopted, his interest in Zen Buddhism, his obsessive attention to detail. All of those circumstances created a portrait of Jobs that transcended the typical, one-dimensional profile far too many executives present to the public, and which was inextricably linked to the company he founded.

Think of your story as personal branding, a subset of your larger branding strategy. Like all branding strategies, crafting your story means understanding your audience, establishing a value proposition, and presenting yourself through engaging content that grabs attention and engages your readers, including inspiring anecdotes, executive viewpoints, media stories, video interviews and top-notch photography.

Stretch Limited Marketing Dollars

Among the biggest challenges startups face is financing, and PR is among the most cost-effective of marketing strategies, certainly as compared to traditional advertising. For very little money, a strong PR effort can extend marketing efforts exponentially, sending traffic to your website and improving search engine rankings, and media placements tend to remain fresh and relevant longer than other forms of marketing.

Specifically, you can stretch limited marketing dollars by sharing your content in multiple ways. For example, instead of simply sending a press release about your startup to media outlets or incorporating it in your marketing materials, you can extend it to social media channels allowing you to increase your visibility without spending more money.

Gain Credibility to Spur investment

Startups face a steep climb and about 80% are unsuccessful. There are many reasons for the high failure rate, but the inability to attract investors is certainly among them. A well-crafted press release about your startup can grab the attention of credible media outlets, from Entrepreneur to Business Insider. Association with these media giants will add cachet to your pitch to attract potential investors.

As you craft your press release, be mindful of what investors are looking for. According to Jim Casparie, founder and CEO of The Venture Alliance, what they’re looking for is evidence of experience and expertise, marketability (with customers ready to purchase products and services), a passionate and committed entrepreneur at the helm, and a sound business model with high likelihood of growing profits and staying power.

Put Innovation Front and Center

People are always looking for products and services which present innovative solutions to common problems. Simply put, innovation is newsworthy. Emphasize those aspects of your products and services which take a new tack on an old problem to gain the attention of media outlets, investors and prospective customers.

To demonstrate innovation, craft a message that first clearly states the nature of the problem and the ways in which previous attempts at a solution have failed to resonate with consumers, either because they didn’t work especially well or because they were too expensive. Then demonstrate persuasively how your product or service provides a cost-effective solution. Be sure to create a compelling title for your press release that succinctly captures the nature of your innovation.

Conclusion

Today’s startups face an uphill battle, and most never get off the launching pad. Whether it’s creating a pitch that resonates, identifying an effective accelerator program or securing adequate funding, startups need tools and best practice strategies that maximize their odds of success. More than ever before, PR plays a critically important function in improving those odds. A well-executed PR campaign is a cost-effective means to enhance your startup’s visibility, attract investors, and build credibility with prospective customers.