Proven PR strategies for startup success

Of all the challenges facing startups, one of the biggest is convincing the public – and investors – that the product can solve a unique problem.

That’s where public relations comes in.

Erin Schmidt, founder and CEO of Lilypad Strategies, stressed the value of landing a solid PR placement to a company’s growth. Being able to add the words “As Seen On__” to a company’s website is a great way to boost industry credibility, add context to the brand’s story and entice investors.

It may also convert a few visitors into customers.

“It’s about being able to tell the story of how they’re making the world a better place through their products and services,” Schmidt said.

Align messaging strategy with current business needs

The business model of a startup is a lot different than that of a more established business, said Dan Tarman, co-founder and managing partner at Perceptual Advisors. While there are challenges for all businesses, those in the early stages typically face much higher stakes.

“Startups have limited cash, limited runway and the statistics on startups succeeding are not great,” said Tarman, whose agency’s clients are about half early- to late-stage startups.

“They don’t have time to do a do-over or take a mulligan,” he added. “They simply don’t have the luxury.”

Tarman feels many startups are so focused on operations and product development that brand messaging and PR can become afterthoughts. As a result, a lot of those comms teams fall into the trap of what he calls “ADHD press release issuance” – where they spam the internet with announcements of things that are “not interesting or newsworthy.”

Instead, startups need to focus less on “communications for communication’s sake” and more on aligning messaging with the organization’s development stage – whether it’s securing more investment funding, proving product-market fit or preparing for an acquisition or IPO.

To create a successful communications plan, the comms team has to understand the business KPIs or metrics, Tarman said. He recommended using those to create specific strategies and deliverables to address the company’s short-, medium- and long-term engagement goals. He said those are usually three months, six months and 12 months.

For some clients, those strategies will include branding, web design and content asset creation, Tarman said. But there will also be goals about reaching specific audiences through media placements.

If a company has a six-month business goal of raising its next round of funding, for instance, then the communications plan might center around targeting outlets preferred by prospective investors or those that the company can use that as a validator for their fundraising efforts.

“The initial focus should be on… how to harness and leverage communications as a strategic tool to enable them to achieve those goals,” Tarman said.

Focus on the right publication, not necessarily the biggest one

Landing a media placement isn’t just about the customers. It’s also about attracting investment. Schmidt said investors and venture capitalists consume industry news related to their markets and portfolios. A feature in the right trade publication increases the chances of a VC discovering the company.

“If you have to cold or warm email, linking to a recent media feature is a great way to grab an investor’s attention,” Schmidt said.

Tarman has found some early media success for several of his clients, such as Autism Impact Fund, which earned high-profile media placements in TechCrunch and CNBC’s “Squawk Box” before the completion of its first round of funding.

To do so, his team used a combination of cold outreach techniques highlighting the fact that the venture fund was the only one of its kind. He also made the pitch in April, recognized as World Autism Month.

Schmidt’s biggest piece of advice to startups’ comms teams: Embrace the trades.

“The founder of a B2B startup in a niche market may expect to earn a mention in the New York Times,” she said. “But in reality, that may be less valuable than a detailed feature in a specialized tech trade that your potential customers read.”

Casey Weldon is a reporter for PR Daily. Follow him on LinkedIn.