By Ronn Torossian, CEO, 5W PR
It’s a well-established fact that most new startups fail. In fact, even new branches of old and experienced companies often close later on or create brands which become discontinued after a brief moment in the limelight. For start-ups, lack of resources usually accounts for the brand’s demise, but few people focus on the integral role PR plays in whether a brand lasts – and for how long.
Public relations help brands get ahead by helping them make the right connections with target markets, the public at large, the media, and key figures in the industry. But how?
Creating and Curating Content
In today’s business market, content is king, whether you’re an entertainment company, techie blog, or the next President of the United States. Brands of all kinds now understand that content is what attracts people to their websites and gives their brands a moment in the spotlight. Brands should work on creating content people will enjoy, comment on, and share, while also looking for other shareable content and offering it up to their audience.
One of the impressive benefits of PR is that it can help to make brands appear bigger than they really are. While some brands use this to push shady marketing practices, it can also help smaller brands to get a foothold in the market, and grow. No matter how small a business is, seeing it in the media and in major publications often enough, usually makes it seem more reputable. The resulting popularity of, or familiarity with, the brand then boosts sales. PR experts can connect startups with these kinds of opportunities to boost their chances of success.
Often, when a company goes under, some crisis is to blame. Companies may lose a lot of capital paying out lawsuits, or may lose customers due to bad press. So if companies do not have a crisis management plan in place, it may prove difficult to recover. In PR, crises usually involve bad run-ins with the media. However, there are other types of crises PR can assist with as well. Brands can overcome poor funding and low capital if they use PR to start a buzz, or to encourage people to support their fundraising campaigns.
PR can also help keep employee morale high against the worst of odds, which comes in handy for start-ups who face more challenges than larger competitors. A motivated force is a creative and productive force, which is often exactly what a company needs to triumph over barriers to its success. Ethical public relations in the early beginnings of a business can do much to set the right foundation and get a jump start ahead of other small competitors in the market.
For this reason, startups should work on employing PR tactics on even the smallest scales, like getting on social media or working with bloggers. And if the budget allows it, then they should consider investing in PR specialists who can take their brands to the next level.