As uncertainty rises, funding falls. At least that’s what the news would have you believe. But according to Inc. magazine, seed and angel deals are still trending upward, and early stage companies with proven product are still getting most of the deals. In fact, 64% of venture funding is early stage, and seed deals through Q2 of 2022 were on par with the entirety of 2019 (Q2 NVCA/PitchBook). That means for hyper-growth or ambitious companies and challenger brands, there is still an opportunity for you. So what should you do when VC funding is down and inflation is still driving uncertainty? I’ve been through every recession since 9/11 and I’ve been working with ambitious brands and companies since then as well. So I’ve seen what successful businesses do during recessions to position themselves for competitive advantage, survival and growth, despite the economic hurdles. Over the years I’ve noticed, startups who focus on looking ahead while being laser-focused, and tend to survive tumultuous times.

Focus Your Energies and Budget

“Everything you do, do exceptionally well, and if you aren’t exceptional at it, then get rid of it or outsource it.”

Look at everything you’re doing and cut out the things you aren’t doing well. For example, let’s say your internal biz development team is excellent, but your event marketing isn’t producing the results you’d hoped for, take that event marketing budget and focus it on one thing your biz dev team says they need to get to the next level.

Everything you do, do exceptionally well, and if you aren’t exceptional at it, then get rid of it or outsource it. Outsourcing is just more nimble. What you outsource, be exceptionally clear about your goals, so you can maximize your reduced budget. Focusing your time and budget has the additional advantage of clearing out the cobwebs and giving you new insight into operational efficiencies too. Who knows? You might decide that outsourcing certain strategies, like PR, simply works better than doing it in-house, anyway.

Startups should also focus on the long term. Think about ways you can increase efficiencies with agency partners, and where you can maximize the partners you have on board.

 

Bullish on the Future

“Deals are still happening, but they’re more happening on industries and trends which are moving ahead full steam, no matter what happens to the economy,”

What should a startup focus on when thinking about funding? No matter what happens to the economy, innovation rolls forward, and VCs know this. The money isn’t on solving today’s problems, it’s on solving tomorrow’s problems. According to Pitchbook, in Q1 of 2022, VC’s raised more money than in the entirety of 2019. So are coming down? Oh, absolutely, but VC’s know – the future is now.

Even when funding is down, deals are still happening, but they’re more happening on industries and trends which are moving ahead full steam. So do your homework on where your product fits into the biggest challenges or opportunities in the next 5, 10, 15 years. Look at all the challenges the pandemic brought to light – those challenges are still top of mind, and the companies solving those problems will have a head start. Your corporate storytelling should also lean into the future and purpose driven initiatives. These two aspects will allow you to lead against your peers.

FinTech is another area where the gloom and doom may be over-reported – through Q2, FinTech funding was still more than in 2019, but it’s definitely not as frothy as 2021. FinTech founder may wish to focus on thought leadership and tie it into purpose-driven points of view in order to tap into future trends.

Plan For Success

“Companies that survive this time focus… on problem-solving,”

Now is the time to think out loud and do your due diligence for tomorrow. Companies that survive this time focus their operations team on problem-solving. For example, if  VC funding doesn’t seem likely for you right now, turn your attention to policy initiatives at the federal and local levels. For example, the last infrastructure project had a lot of opportunities for climate-related startups. And the 2021 infrastructure package held lots of tidbits for infrastructure tech programs, that emerging industries like drones and UOV could take advantage of.

Consumer tech VC funding really has taken a sharp nose-dive. Storytelling PR campaigns may not be as attractive as they once were for consumer tech. Now is the time to look at product-based programs which increase awareness but not the budget.

You should take this opportunity to do some scenario planning as well. Now is a great time to plan for a crisis, and create plans for things like cyber breaches ,which will help you secure your future.

 

Tomorrow’s greatest companies and emerging industries aren’t going to allow this uncertainty to derail them. This is where the rubber meets the road, and strategy makes a difference.

Make Google’s Latest Changes Your Secret Digital PR Weapon


Over 15 actionable tips for consumer and DTC brands

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What do Google, your PR, and affiliate networks have in common? They are the spine of your digital reputation. Consumer brands, especially DTC can no longer ignore the realities of how these once distinct digital tactics work together today.


Digital PR is real. And yet, so many PR professionals overlook the realities and intersection of Google and the media. Today’s PR isn’t really complete without Google considerations.

Many of the changes from Google are incredibly exciting for consumer brands. Those brands who understand the changes with more frequent earned media and better search results on owned and paid content like press releases will be rewarded with better search visibility and content stickiness.

Turn your PR into a revenue-generating machine with our actionable insights and tips that your competitors have probably overlooked.

From branded journalism to product reviews, and even press releases, Google’s changes and affiliate networks are essential considerations for any consumer brand that is trying to raise awareness online. These changes even impact your influencer campaigns.

Our easy-to-digest and insightful whitepaper is an at-a-glance resource every time you’re creating content for owned, paid, or earned media.

PR RESOURCES

It doesn’t matter whether your interview is with the Wall Street Journal or a tiny vertical publication with a niche audience. You, the company representative, the thought leader, really do set the tone for the the interview. You control first impressions; you influence the tone and nature of the interview, and you set the stage for a fantastic interview or a deadly one. PR is like building a suit. There are 500 ways to screw it up. This post is part of a series on how to screw up PR. There are literally thousands of thing not to do in a media interview. So, let’s discuss 4 ways to screw up a media interview.

1. Be Unresponsive to the Interviewer’s Time

Journalists are under more pressure than ever today. The average journalist covers 4 beats, up 25% from last year, and 21% say layoffs or furloughs contribute to an increasing workload. More journalists are freelance, meaning they work for many publications and don’t get receive benefits, like paid time off, or even health insurance. From scheduling your time with a journalist to sending follow-up information like headshots, or company stats, journalists need you to do what you say you’ll do, and they need you to do it fast.

Many people think because so much content is digital, there are no deadlines. We indeed deal with PRINT deadlines less, but more than ever, there are deadlines. The pace of content creation that publishers and editors must keep up with necessitates deadlines.

So when you’re working with a journalist, it’s just good practice to be ultra helpful and responsive. Doing so might be the difference of getting in the story or not.

2. Treat the Press Like the Enemy

The press needs an angle, a story, something that people want to read. That’s what they really need. That every person in the press is out to get you, personally, is overblown. There are very specific circumstances where an investigative journalist

Now, that doesn’t mean you can drop your guard, it means you come to the table playing offense, not defense. Treat a media interview with the same level of professionalism you would treat an important meeting with an investor or a dream client, and you will probably be just fine.

A journalist is another human with a job to do. That’s all. Treat your interviewer like a human, and you will probably get the same professional courtesies back. Or you could screw up your media interview by treating them like the enemy and receive the same professional courtesies back.

3. Act Like the Journalist is Working for You

Let’s be clear: Aside from an accurate representation of your quotes and conversation, a journalist owes you nothing. They don’t owe you approval of the article; they don’t owe you a link to your website. They don’t owe you any. thing. They do not even owe you a retraction of an embarrassing statement. If you actually said it, you own it, don’t ask for a retraction or edit unless the quote is just wrong. This is not a paid placement, it’s not an ad. You do not have editorial control.

For example, during an occasion where we secured a magazine cover for the most prestigious cannabis industry magazine. The CEO went on a full-throated campaign to art direct the cover and the entire photo shoot, a photo shoot the magazine was paying for. He insisted on making the photographer come to his difficult-to-get-to home, for an outside location shoot even though outside shoots are harder on the photographer, and despite being told that studio shoots present better on magazine covers. The photo journalist was lovely and gracious and in touch with our team, but there was little we could do from a distance since the CEO declined to have a representative at the shoot.

When the publication came out, the cover disappointed the CEO. And I had to agree with him. It wasn’t the most flattering photo I’d ever seen. I’m sure there were better photos, but in a situation like this, the editor has full editorial control and I’m also sure the photojournalist had had enough with the prima donna he was throughout the entire process. So while the photojournalist was incredibly professional to our team and on-site, she felt completely disrespected and her work reflected her feelings.

When you’re working with photojournalists and journalists, be gracious. Take your cues from them. Make their jobs easier, not harder.

4. Be Unprepared

Remember the recommendation to treat your interview like you would a meeting with an investor? Would you go to an investor meeting unprepared? Of course not, so don’t screw up a media interview because you didn’t prepare.

Do your homework, because the journalist has. According to MuckRack’s State of Journalism, 77% of journalists say Twitter is their most valuable social platform, and LinkedIn is a distant second. Jump on Twitter and see what they’re talking about, and while you’re at it, take a sharp eye to your own Twitter and LinkedIn to make sure it’s your best self.

Read a few recent articles by the journalist and get a sense of their style and beats. As a bonus, you’ll also get a look at some of the other publications they write for and you may create interest in another angle for another publication.

What are your must airs? Decide ahead of time how you will answer the likely questions, and what’s most important for you to say what are your “must airs”? Also, decide in advance how you will handle the tough questions. Be purposeful, strategic, and planned.

Know your facts. You need to be able to cite the facts and the source, and you need to be confident when you do it. If you don’t have your facts straight, you will lose the confidence of the interviewer, or worse, the audience.

If you’re meeting is on Zoom, dress for the moment and make sure your lighting is on point. If you’ll be on TV, brush up on what does and doesn’t look good on TV.

A really great media interview is a skill, it takes practice. But you CAN have a successful interview if you simply give yourself the best chance by being empathetic to the journalist, respecting their job and being prepared.

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