As a public relations firm based in San Francisco for more than 30 years, we have seen more startups than you can count enter and “disrupt” markets. The ones that stick around find the right blend of product/service needs, understand how to talk to their audience and have a sense for the time to make a big splash.
No matter the industry, startups need to establish their brand, understand their market and build connections with potential customers and investors. More often than not, developing meaningful relationships with customers and investors can be more challenging than expected.
It can also be difficult for founders to set aside the necessary time to market and message with all the demands of getting a new company off the ground. We’ve seen businesses struggle to gain traction with investors and consumers because they did not seek counsel early enough; we’ve also seen companies wait too long to make a public statement and scramble to gain traction with key media outlets. Pinpointing the right time to seek outside communications counsel is difficult for any company but especially for fast-paced startups.
Outside of auspicious timing, there are many considerations when looking for a communications partner. Whether you’re part of a well-funded startup with the budget to hire a communications agency or a team of one, here are some things to consider in finding a public relations team that is the right fit:
- Do you have time to work with a firm? It might sound like common sense, but you would be surprised how many companies hire communications agencies before they have a dedicated team to nurture and maintain the relationship. Outside agencies don’t know the critical internal updates you don’t share. If the idea of managing a relationship with a firm stresses you out, it is probably a good idea to wait until you feel confident that you will be able to dedicate time and thought to get the best value out of your communications partner.
- Do you need a wide set of skills? If so, agencies can be a great option. Not only do they have a staff of experts but experts in multiple verticals. Digital, public relations, content creation, social media management, advertising – the list goes on. It is unlikely you will find one in-house person with all these skill sets. On the other hand, if you need someone on call 24 hours a day, 7 days a week with a focused set of skills, an in-house team member might be an unrealistic approach.
- Do you know your audience well? If you think you know your audience but want to be confident, research can provide incredible value when introducing a new product to an unknown or niche market. Agencies have access to tools and data that would otherwise cost hundreds of thousands of dollars. You can also check on any competitor in the market to get a better idea of what you’re up against. Knowledge is power.
- Do you have a well-defined goal? This might sound obvious, but, when it comes to marketing and PR, it can be more nuanced than “sell more things.” It is important to understand what you want your agency to help you accomplish when you’re vetting potential partners. You’re spending your hard-earned money. Make sure it is earmarked for something that will help you move the needle with your bottom line or with investors. With marketing and advertising, you should always start with a goal or a purpose to drive the bigger picture. Here are some goals to consider:
- Establish differentiation for a new brand in a crowded market
- Establish internal and external communications standards (should my CEO be encouraged or discouraged to use Twitter?)
- Generate sales leads
- Promote trial
- Gain notoriety or personality with key target audiences
By narrowing down your objectives, your marketing and PR team can make a measurable difference in key areas. They can also help you figure out what you need to fulfill those objectives.
Things to consider as a startup before hiring a PR or marketing firm:
- Are you ready to tell your story?
- Is your platform/product/service fully developed?
- Do you have a well-defined brand?
- Do you need help navigating the media landscape?
- Are there any potential issues or challenges you might face that could turn into a crisis or all-hands-on-deck situation?
If you think your startup is ready to share some of its news to create anticipation, reach out for the expertise to get the ball rolling.