It was believed to be Phineas T. Barnum that said: “there is no such thing as bad PR.” While this may not be entirely true, it can at least be said the startups who use PR do stand out. Getting exposure for a new product, brand or company is where most new ventures struggle. PR is, therefore, of considerable importance, and most small businesses know that PR can sometimes make or break a company.
Luck vs. Planned Exposure
There is always a degree of luck in any PR exercise; your “stop the press” announcement can easily be overtaken by major world events.
However, relying on luck is not always the best way to go about things. Even a small social media campaign done in-house is better than nothing at all. Planned exposure is where success is found, and any new business that seeks success includes this as part of their business plan and marketing strategy.
The facts about PR for new businesses
Experts suggest that a small business should be spending between 5% and 8% of estimated gross revenue on marketing and PR. While PR can often be a hit and pray situation spending money well in the right area does pay off.
Startups that understand PR spend more to get better exposure to the right people in the right places. The most successful SMEs are not necessarily the ones that spend the most with the best agencies but are the ones who work with the agency that best understands them. A good PR company that is on the same page as their client communicates better, and the newly started business gets off the ground faster.
Tom Schwab
In 2020 PR is very much digital and leading experts such as Tom Schwab help young businesses and entrepreneurs understand their business and audience.
In doing this, Tom and many other PR mentors and coaches expertly guide new and innovative companies through the maze of PR and digital marketing. He suggests that getting to the point with a clear message that begins a conversation is where to start. Getting down to basics is where new business can succeed and find their voice amongst the noise.
Trello from scrap to superstar
Trello an app that “keeps track of everything,” and it had its fair share of challenges. Founded by Joel Spolsky and Michael Pryor in 2011, the company received $11 million in funding.
It emerged at the same time as a plethora of similar applications, and it needed to make its mark. Using some of the funding to create fast and effective brand awareness, Trello soon had 50 million users because the PR message and quality of App matched.
Niche Exposure
As smart landlord software, Tenant Cloud has a very niche market, and PR needed to be very niche-focused. Working with a PR agency that understood the company and the product good exposure helped it secure a $6.3 million investment and the business gain traction.
Founded in 2014 by Joe Edgar and Vitaliy DeFranko, Tenant Cloud has used clever PR to gain ground and find favor in the market.
Finding out about small businesses
Small Businesses are very much the needle on the barometer of the US economy. Startups are at the bottom of the ladder and play a vital role. To find out information on these pivotal companies, Fundz is one of the best sources of information. As a functional and powerful database of startups in the US, Fundz is a valuable resource for anyone.
Sources
https://www.entrepreneur.com/article/288325
https://www.axiapr.com/blog/what-do-small-businesses-spend-on-pr
https://nuphoriq.com/create-a-marketing-budget/
https://collisionconf.com/what-startups-say
