Emerging Industries

What Makes Hypergrowth Businesses Stand Out?

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While there is no blueprint for creating a successful hyper-growth company, many of these businesses share some common qualities that help them stand out in the crowd of tech startups. But first, it’s essential to understand what a hypergrowth business is.

What Is A Hypergrowth Business?

Hypergrowth businesses are businesses that maintain a rapid rate of growth over time. To be called a “hyper-growth” business, it must have a CAGR (compound annual growth rate) of 40% or more. Businesses with “rapid growth” have a CAGR between 20% and 40%. And businesses with “normal growth” maintain a CAGR below 20%. Hypergrowth usually occurs before a business has fully matured. The term “hyper-growth” was first coined in the Harvard Business Review.

Many startup businesses are looking to be the next big hyper-growth company. Amazon, Uber, and Facebook are all excellent examples of hyper-growth companies. However, many hyper-growth companies eventually take a quick downturn and ultimately fail. Many hyper-growth companies fail because they get so focused on growth that they neglect to plan for challenges that the business will face during its rapid rise, including overworked employees, marketing costs, and a customer-focused culture, and more.

How Hypergrowth Companies Stand Out

Hyper-growth companies are usually ahead of the trend, which means they’ve probably toiled in a constant state of underfunding until they didn’t. This means that many hyper-growth CEOs are unprepared for the needs of a company suddenly thrust into the public eye.

But whether their fast-growing status is due to an emerging industry, an outspoken leader, or an up-and-coming trend, the fastest-growing companies take the opportunity to create a brand for themselves.  This means engaging in marketing and PR before the trend hits. A well-positioned hyper-growth company leads the conversation because they are an already known expert.

They Keep Track of Emerging Trends and Offer Customers Real Value

Because the market is constantly in flux and consumers are continuously rethinking their wants and needs, hypergrowth businesses understand that they must keep track of emerging trends. When they see an opportunity, they take it. When they see a gap in the marketplace, they fill it with a product or service that has value for customers. Hypergrowth businesses understand that perceived value is not enough; customers seek products and services that add real value to their lives. Being flexible and focused on the company’s target audience and their changing wants and needs enables hypergrowth businesses to scale rapidly when an opportunity becomes successful.

They Know How To Identify Areas for Growth

Most businesses grow by expanding their current customer base by regularly offering new products and services or by targeting new customers by diversifying the products and services they offer and testing opportunities in new markets. Hypergrowth companies are successful because they know how to identify the most significant opportunities for growth and then strategically pursue that opportunity while keeping an eye on product performance and marketplace trends.

They Hire Focused Leadership

Hypergrowth companies understand the value of competent, focused leadership. Hypergrowth businesses that fail often do so because company leadership got so focused on the company’s rapid growth that they were unable to focus on other challenges that would inevitably arise due to rapid expansion. Successful hypergrowth companies hire leadership that can focus on both scaling the business and scaling other business areas to match the company’s growth.

Successful business leaders do much more than share a vision for the company’s growth. They also move the business forward by spotting emerging trends and constantly adapting to the constantly changing market. While remaining focused on the overall vision, they also focus on executing a business strategy to achieve their business objectives.

They Value Their Employees

Hypergrowth companies value the people who work for them and strive to foster a healthy workplace culture. Overworking employees can quickly cause a business’s culture to become toxic. Hypergrowth businesses provide employees with rewards and benefits that have value. A good work-life balance is far more rewarding and important to the average worker than access to ping-pong tables and craft beer on tap. Hypergrowth company leaders understand their employees are the catalysts for rapid growth and that the company’s culture starts with its workers. Hypergrowth company leaders are intentional about developing a healthy and unique company culture from the outset.

They Turn Their Customers Into Brand Ambassadors

Successful hyper-growth companies turn their customers into ambassadors for their brand. There are few things more powerful for a company than its customers going out into the world and gushing about the company’s product or service. Hypergrowth businesses rely on word of mouth and constantly identify potential brand ambassadors to promote their products and services. In addition to customers, other brand ambassadors might be employees or industry influencers. No matter how they spread the word about your brand, word of mouth is one of the most powerful marketing tools a business can leverage.

They Measure Their Success

Hypergrowth businesses understand that success doesn’t happen due to dumb luck. Successful hyper growth businesses are constantly tracking their successes and failures, gaining insights into what is working and what isn’t by harnessing as much data as they can — the more data, the better.

They Are Flexible and Innovative

Perhaps one of the most important qualities of successful hyper-growth businesses is their flexibility and ability to innovate constantly. In the digital age, the world is changing rapidly every day. Successful hyper-growth companies understand that to achieve success, they must be malleable, constantly reassessing consumers’ wants and needs and new marketplace opportunities. Because consumers today have more choice, successful hyper-growth companies must constantly innovate to stand out above other companies.

Marketing for Hypergrowth

How can you market your company for hyper-growth? Implementing a focused and strategic public relations campaign is one of the best methods for customer-driven companies that are on the brink of or are already experiencing hypergrowth. The keys to successful hyper-growth PR is to reach a broad audience, keep them engaged, and letting your service or product sell itself. Some ways to do this include:

  • Running giveaways and other promotions to attract new customers and keep them engaged
  • Keep your existing customers informed and engaged with your company
  • Show all of your customers that you care, not just through words but through your actions

PR for fast-growing companies can be challenging, and especially for those experiencing hypergrowth. With so many tasks to complete, outsourcing some of these efforts to a company with specific experience with hypergrowth PR is often recommended.

Contact Avaans Media

The foundation of any company is its vision, but a successful hyper-growth company grows due to a solid business strategy that meets its goals. If you have questions about hyper-growth business strategies, the PR team at Avaans Media is here to answer all your questions. Contact us today to discuss your business objectives.

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PR for AI Startups – Is It Too Late?

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ChatGPT was a seismic event for AI PR. AI companies that focused on generating language models for prompts and voice commands were already years ahead. “AI prompts for ChatGPT” topics were all the rage, and for AI startups, that was actually quite frustrating because they knew there are so many deep, interesting topics to cover. And that’s why it’s not too late for public relations for AI startups.

As a PR agency specializing in emerging technologies, our clients definitely benefited from the burst of AI coverage after ChatGPT became a media darling. Still, our clients are already working on AI technologies that make businesses more efficient and embrace the human element to allow more informed decisions.

Journalists will cover artificial intelligence in the way they covered social media during its infancy: obsessively, as there are still a lot of stories to tell in commercial AI PR. AI-assisted technologies will continue to exist, so there will be endless types of articles to write, and they will not solely revolve around creating content or the disappearance of jobs.

The Case for PR Urgency

Executives and boardrooms are still unsure about what AI means for their companies. And tomorrow’s most relevant AI brands are taking the opportunity right now to create media coverage around topics that position them as thought leaders. An AI PR agency that understands the cyclical nature of PR for hyper-growth and emerging industries is an essential resource for AI startups.

85% of AI startups will be out of business in three years. From content to thought leadership to contributed content and niche audience trends, the PR strategies AI companies choose today will be the differentiator for AI startups from the earliest phases to pre-IPO. AI is dominating venture funding headlines and grabbing what venture funding dollars are available today, and that means tomorrow’s most exciting IPOs will be AI companies. And while those companies need PR for AI companies, even those who intend to stay private should embrace PR because the industry is at its most crucial stage.

Educating the Consumer About The Future of AI

Like with other hot emerging industries, AI technologies have the opportunity right now to develop positive relationships with stakeholders, customers, and consumers. As an industry, AI companies should take this very seriously because AI’s potential is scary to consumers, especially since consumers are still experiencing techlash from the unforeseen consequences of social media. Educating consumers about how the AI industry addresses their fears and concerns is a key opportunity for public relations for AI companies.

Even B2B AI companies should take the lead on educating the masses about AI’s potential. Why is this important? When the average person understands how AI will make their life better, AI will seem less scary and this is important to regulators.

AI companies can also take this opportunity to self regulate, instead of waiting for a government backlash from representatives who don’t understand what it is (see Mark Zuckerberg’s congressional hearing). Taking stakeholders along the journey enables them to see the future with you, as opposed to despite you. PR services are critical to this journey because today’s actions will have an outsized impact in the future.

From content creation to PR campaigns, AI companies should lean into tech where it makes sense, and lean into relationships where it’s most important.

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The Rise of ChatGPT: A Revolution in Content Creation

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ChatGPT: The Unseen Architect of Tomorrow’s Content

As if waking from a dream, we find ourselves in a brave new world of artificial intelligence and machine learning. No field seems untouched by this seismic shift, with content creation on the brink of a renaissance. The catalyst? ChatGPT. This view isn’t mere future-gazing; it’s today’s reality, a window into an exciting future brimming with possibilities and questions. Join us to explore what ChatGPT means for the content industry, no doubt, ChatGPT is a revolution in content.

 

Decoding ChatGPT: Unraveling an AI Phenomenon

Generative Pre-Trained Transformer, or GPT, is an artificial intelligence model trained on diverse internet text. The ‘Chat’ in ChatGPT is a nod to its conversational prowess, both its primary capability and tour de force.

This language model, developed by OpenAI, uses machine learning to produce human-like text. ChatGPT-4, the most recent iteration, is a quantum leap from its predecessor, GPT-3, boasting an impressive increase in the number of parameters. The result is a model that’s smarter, more versatile, and more attuned to the intricacies of human communication.

The essence lies within its training process, which commences with pre-training, wherein the model gains the ability to predict the following word in a sentence. It then progresses to fine-tuning, where it’s taught how to respond to prompts based on user inputs. The cherry on top? A diverse dataset that adds that dash of worldly wisdom.

Applying ChatGPT in the Content Industry: A Transformative Impact

For long, the concept of AI creating content was a realm of futuristic fiction. Today, it’s our reality, thanks to the transformative power of ChatGPT. It isn’t a mere conceptual fascination; the practical implications of ChatGPT have begun to ripple across the content industry, changing the game in profound and meaningful ways.

Content Creation Revolution: The Automated Scribe at Your Service

Imagine a scribe that never tires, a wordsmith ready to craft beautiful narratives from your most straightforward ideas. From bite-sized blog posts to epic novels, ChatGPT has shown itself to be a tireless partner in the creative process.

When we think about automated writing assistance, it’s not just about churning out words. It’s about breathing life into ideas, about transforming mundane content into the structure of such narratives wherein ChatGPT shines. It needs to understand your command; it reads your intent, offering a fresh perspective, and making your content dance to a rhythm that’s engaging.

Customer Support and Chatbots: Personalized interactions and more

The battle for better customer experiences is never-ending in customer support. However, with ChatGPT, we’ve got a powerful ally. This AI marvel has the power to transform the way businesses interact with customers, bringing a degree of personalization and efficiency that was unthinkable just a few years ago.

Chatbots powered by ChatGPT aren’t your run-of-the-mill automated responders; they’re everyday superheroes. No query is too complex, and no customer issue is too tricky. They handle a wide array of interactions with downright impressive ease, making them a reliable first line of support available around the clock.

Language Translation and Localization: Breaking the Language Barriers

In today’s globalized world, language can often be a barrier between you and your audience. ChatGPT is working on breaking those walls down. It’s more than just a linguist who’s proficient in multiple languages. It’s a skilled translator who understands the nuances of localization and knows that effective communication isn’t just about translating words but about conveying their meaning.

Data Analysis and Research: Unleashing the Power of Data

Living in the age of big data, we generate staggering volumes daily, but making sense of this data deluge is easier said than done. That’s where ChatGPT steps in as a savvy data analyst. It can sift through mountains of data, spot patterns, and extract insights that could easily escape the human eye. For researchers and analysts, ChatGPT is more than a tool; it’s a partner that accelerates research and facilitates data-driven decision-making.

Implications for Content Creators and Writers: At the Crossroads of Innovation

As we sail forward on this tide of transformation, those who shape our stories and ideas, the content creators and writers, find themselves at an exciting crossroads. This belief isn’t a mere intersection of paths but a junction where human creativity meets AI intelligence. Here’s what that means for those who breathe life into words.

Collaboration between Humans and AI: Companions, Not Competitors

The doom and gloom out there see ChatGPT as a machine to take our jobs. However, AI isn’t necessarily a replacement for human creativity but a tool that can enhance it. This AI isn’t here to steal the spotlight but to share it, augment our abilities, and push our creative boundaries.

The implications are vast, and ethical considerations are at the forefront. However, imagine a world where human writers and AI work together, each leveraging the other’s strengths. Humans bring to the table their creativity, empathy, and intuition. At the same time, AI content generators, like ChatGPT, offer efficiency, vast knowledge, and the ability to work without fatigue. The future of content creation lies in this symbiotic relationship, a collaboration that encourages innovative content while ensuring the ethical use of AI.

Adaptation to Changing Roles and Responsibilities: Evolve to Thrive

ChatGPT’s advent comes with a gentle nudge for content creators: to expand their horizons, adapt, and evolve. In its embrace of AI, the content industry has started favoring higher-level skills and critical thinking over simple writing prowess.

The writing profession isn’t diminishing; it’s transforming. It’s no longer just about writing beautiful prose; it’s also about utilizing tools like ChatGPT to create content that resonates, strikes a chord, and makes an impact. Content creators must commit to continuous learning and upskilling to navigate this change. It’s not a challenge but an opportunity to grow and flourish in a fast-changing environment.

Opportunities for Niche Content and Personalization: The Dawn of a New Era

ChatGPT isn’t just a tool; it’s a window into an exciting new world of niche content and personalization. It’s possible to tailor content to individual preferences and to speak directly to every member of a diverse audience through its ability to generate human-like text.

ChatGPT can quickly dive into specific topics, making it an excellent tool for creating niche content that resonates with a particular group of readers. It’s not just about reaching more people; it’s about connecting with them. And that’s a reality, a new era, not just a distant possibility.

The AI content generator is an ally in this changing landscape, a tool that can bring out the best in content creators. It’s a call to evolve, adapt, and seize the opportunities that come with change. Those who answer this call will be the ones who shape the future of content creation.

Challenges and Ethical Considerations: The Hurdles on the Road to a Revolution

Every revolution, however inspiring, comes saddled with challenges, and the ChatGPT revolution is no different. These aren’t roadblocks but checkpoints that we need to address mindfully to harness the full potential of this AI revolution.

 

Risk of Misinformation and Biased Content: A Test of Trust and Truth

We live in an era where the spread of misinformation is as easy as a click. Fake news is a valid and pressing concern, and the advent of AI-powered content generation adds another layer of complexity to this issue. Ensuring the accuracy of AI-generated content is crucial. Trust is the bedrock of any content strategy, and we must stay vigilant to prevent AI tools from being misused.

Another facet of this challenge is bias. Whether implicit or explicit, biases can creep into AI-generated content, influencing the information and narratives we consume. We must rise to this challenge and work tirelessly to address and minimize biases in ChatGPT and similar tools. It is where the big names in the tech industry (OpenAI, Google, and Microsoft) have a substantial part to play.

Preserving Originality and Authenticity: The human touch in the machine age

ChatGPT’s ability to generate content is awe-inspiring. Still, this power comes with a responsibility: to ensure originality and authenticity in every piece of content, it creates.

While ChatGPT can replicate human-like writing, it cannot replace the human touch that breathes life and emotion into the content. The challenge here is using ChatGPT while ensuring the human voice isn’t lost, and the content feels personal and unique. Additionally, we must avoid plagiarism and content duplication, respecting intellectual property rights while embracing AI’s capabilities.

Potential Job Displacement and Economic Implications: Navigating the Transition

ChatGPT is a game-changer, but its advent comes with questions about the future of content-related professions. What happens to content creators and writers in a world where AI can write too?

This transition isn’t about job displacement but rather about job transformation. The need for content is going nowhere, but the nature of content creation is evolving. Content professionals must adapt, acquire new skills, and understand how to use tools like ChatGPT to their advantage. With foresight, planning, and adaptability, we can navigate this transition smoothly, ensuring that the economic implications are accounted for and mitigated.

In these challenges, we must remember: ChatGPT is a tool. How we use it and navigate these hurdles is in our hands. The road to revolution may have its bumps, but with mindful and ethical use, we can harness the power of ChatGPT for the greater good.

Future Prospects of ChatGPT in the Content Industry: The Dawn of a new narrative

Standing at the precipice of this revolution, we realize that ChatGPT’s journey is just beginning. Its impact on the content industry is profound, but it’s only the prologue of a story still being written—the future chapters of this narrative promise even more exciting developments.

Advancements in AI Technology: A Leap into the Future

The realm of AI isn’t static; it’s a field in constant evolution. Each iteration, each new model, is more innovative and capable, pushing the envelope of what’s possible. AI technology isn’t just growing; it’s sprinting toward the future.

As for ChatGPT, its potential has yet to bring to fruition. Future iterations could see it integrating multimodal capabilities, enhancing its text generation with visual or auditory data processing. Imagine a world where ChatGPT can write a blog post, create an accompanying infographic, or compose a podcast script while suggesting audio elements to enhance the listener’s experience. It’s an exciting prospect that promises to transform the content landscape in ways we can only dream of now.

Ethical Guidelines and Regulations: Responsibility in Revolution

Responsible AI utilization must serve as our guiding principle as we navigate the path of this revolution, acknowledging that great power comes with great responsibility.

The future will likely see the development and implementation of more robust ethical guidelines and regulations for AI usage, especially in content creation. These will serve as the pillars supporting the responsible utilization of AI, ensuring that it contributes to the greater good while minimizing potential harm.

Collaborative efforts between AI developers, content creators, users, and policy-makers will be critical in creating these frameworks. The aim is to harness the power of AI like ChatGPT without compromising on ethical standards or societal norms.

The ChatGPT journey is a tale of transformation and possibility. However, as we step into the future, let’s remember to do so responsibly, harnessing the power of this revolutionary tool while respecting ethical considerations. It’s not just about making the content industry more efficient or dynamic; it’s about creating a world where AI and humans coexist, thrive, and write the future together.

Conclusion

ChatGPT might evolve into a customized virtual companion, integrating with voice-based interfaces and enhancing user experience. It is redefining the content industry, and the implications are as profound as they are exciting.

While we grapple with questions of ethics and authenticity, the opportunities for creativity, efficiency, and personalization are enormous. As we welcome this new chapter, let’s remember the importance of responsible AI utilization. For now, let’s embrace this revolution and prepare ourselves to be surprised by the genius of AI.

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3 Tips for Cannabis Companies New to PR

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Cannabis businesses who are new to PR have a lot of decisions to make. Many of our clients have never hired a cannabis PR agency before and the process can seem daunting.At Avaans we work with a lot of hyper-growth or early stage companies in emerging industries, so we’re pros at guiding ambitious companies to the next stage of growth. Often our clients are CEOs or CMOs who understand why PR is important, but maybe haven’t engaged a professional PR agency before. That’s why we came up with 3 tips for cannabis companies new to PR.

Cannabis Companies New to PR: “Am I Ready for PR?”

 

If you’re new to PR and you’re asking yourself the question, you’re off to a great start.

If you’re new to PR, you might be confused about what to ask an agency. For more strategic PR partnerships, ask the agency whether they think you are ready for PR. That will tell you how prepared they are to work with a company of your PR readiness. If a firm tells you that you aren’t ready for cannabis PR, what they’re saying is “You aren’t ready for our PR services.” We believe it’s important to consider PR from the very first moment.

The next question to ask yourself is how much bandwidth you have for PR. We started our consumer product PR sprints for very early growth companies or companies without huge budgets. Our cannabis PR Sprints are an excellent way to look underneath the hood of working with a PR agency, without a long-term PR contract. The PR Sprints are also great for cannabis product launches.

A full-scale bespoke PR program is more successful when the PR agency has a key contact at the cannabis company. Bespoke programs are for consumer brands committed to strategic PR outcomes like pre-IPO or investment, or attracting top talent. Bespoke programs are for companies and brands that have a long-term vision for the company and can state their 3-year and 5-year goals. B2B PR are also bespoke PR campaigns because every B2B campaign has dependencies as distinctive as the company’s leadership, product, and ambitions.

Naturally, budget comes into play, but working with a cannabis PR firm is like hiring a contractor – you rarely want the cheapest. If you’re new to PR, you’re in the early stages of reputation and branding, and this is a critical time for new cannabis brands. In particular, a cannabis company needs to invest in trust-first positioning and can’t take risks with the brand, because there is less brand equity.

Another way to know whether you’re ready for bespoke PR? Being crystal clear on cannabis public relations goals and outcomes will make choosing a firm, and a time to start cannabis PR much easier.

How Do I Look, Hunny?

Starting a cannabis business means jumping through a lot of hoops, and sometimes branding and marketing seem like it takes a back seat to the regulatory hurdles for cannabis companies. How does your cannabis packaging look on the shelves at a dispensary? How will it look on the pages of a magazine? Are your product images professionally shot? Do you know who your customers really are? If you’re still figuring out your website or tinkering with formulations, then focus on those items first, or at least go with a shorter-term, very focused PR campaign. Starting with a freelancer could also be an option at this stage as well. But in general, bespoke PR firms are worth the investment if you’re clear on your brand, its customers, and the look/feel of your cannabis packaging and product.

What’s the Best Time of Year To Engage a Cannabis PR Agency?

Journalists and editors are planning months in advance. This means your PR pitching should start months in advance, too. This is one aspect of PR that many new-to-PR companies struggle with: the need to plan in advance. For example, PR agencies will want photos and product descriptions months before

Look beyond 420 for cannabis PR. The fall months are a dynamic time for the cannabis industry. There are cannabis industry tradeshows and conferences happening, award winners announced, and of course, Halloween, Thanksgiving, the December holidays, and New Years’ Eve all add up to massive revenue opportunities for cannabis brands. For consumer brands new to PR, the fall can be one of the most valuable times of year to get editorial coverage for consumer brands. In fact, up to 40% of coverage for consumer brands happens during this time of year, so that’s a great time to pack a PR punch. We developed our consumer brand PR Sprints to include fall cannabis PR for this reason.

For B2B cannabis PR, the equation looks a little different. If you’re looking for a feature on a product launch or an executive, planting that story takes planning on behalf of the journalist and editor who have to fit it into regularly scheduled articles. Starting B2B cannabis public relations in the fall may be right for you if you have big plans for the spring. B2B PR, like thought leadership, speaking engagements, and cannabis industry visibility have more dependencies, some of which – like when speaking engagement submissions close, aren’t in your control. If you miss the window for this year at a particular event, there are only a couple of avenues to take, and most of them include spending a considerable sum of money. Campaigns and activations around crucial industry events may take longer to plan and implement, especially cannabis industry events. In short, B2B PR often requires longer lead times.

For cannabis consumer brands new to PR, there are some advantages to starting PR in the second quarter. But not if you’re planning a big 420 splash or product launch. You really aren’t giving yourself enough time to maximize your 420 if you’re starting in Q2. At that point, the question is really should you do a 420 campaign? On the other hand, if you’re a consumer or CPG cannabis brand who tends to have a summer-based sales cycle, say cannabis beverages, then starting your PR well in advance of the summer is a great idea.

Starting a new PR campaign in January gives most brands a superb runway to plan for everything the year offers, regardless of whether it’s B2B or B2C. We love starting the year off together with new clients, but this isn’t a time of year to start new projects for everyone. If your product does particularly well in February for Valentine’s Day – then starting in January is too late.

Being a cannabis company new to PR doesn’t have to daunting. Contact us with questions about hiring an agency, and what to look for. We love working with cannabis companies in all stages of growth.

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Why Hyper-Growth and Emerging Industries Thrive on Purpose Driven Initiatives

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On the surface, it might seem that purpose-driven companies differ vastly from hyper-growth companies or emerging industries, but nothing could be further from the truth. Purpose-driven perspectives for hyper-growth and emerging industries is actually imperative to future success. Fast-growing brands and purpose overlap in critical phases in a company’s or industry’s growth. Because fast-growing companies and emerging industries are closer to their customers and in the earlier phases of culture-building, purpose is more clear, and it’s actually the perfect time to codify purpose so as scale occurs, the purpose isn’t lost.

 

What Do Fast-Growing Companies and Purpose-Driven Initiatives Have in Common?

Reaching for a bigger idea, for a better way, and for bold innovation is something ambitious and hyper-growth companies and purpose-driven initiatives share. The most ambitious entrepreneurs are driven by something bigger than themselves, or even riches. They’re driven to change the world with a big idea. Big ideas require a special blend of inspiration and persuasion to inspire early adopters.  It doesn’t matter whether the company is B2B or B2C, early adopters are critical, and so is an inspiration. Purpose-driven initiatives inspire and engage as well.

Purpose-driven approaches and ambitious companies also share the need to inspire trust, and that’s what PR does better than any other medium. PR is the tool the world’s most trusted brands lean on to improve their reputations and create a connection with their customers. PR lasts longer than a commercial, it’s more trusted, and it gives ambitious brands the opportunity to tell nuanced and deeper stories.

Isn’t Social Impact too Expensive for Growth?

While fast-growing companies have certain cultural requirements: creativity, flexibility, and drive, none limit purpose. This very question assumes that growth only happens when hustle culture dominates. We have many clients thriving in purpose without the debilitating effects of hustle culture. But even if your company is incubating a hustle culture mentality, when the stakes are higher than ever, people need a higher purpose that inspires them. So it’s important for companies in the growth stage to double down on brand and product purpose. In fact, purpose may be a matter of survival, and not just PR for hypergrowth companies. At least according to Larry Fink at Blackrock who has for years been advocating for brands to implement purpose in order to grow.

Further, purpose is an expectation of GenZ and Millenials, that companies embrace their social, cultural, and environmental responsibilities. Further, employees are increasingly choosing employers based on the company’s beliefs and values. So, recruiting the best talent will if not now, eventually, require companies and industries to double down on purpose.

One example of this is the emerging vertical of the cannabis industry. The cannabis industry is founded in activism, but when the industry codified as states legalized THC, the industry doubled down on purpose, taking on the social injustice of cannabis prisoners in the Last Prisoners Project. And the cannabis industry is exploding, so there’s a clear precedent for growth and purpose. Brands who take on purpose and a higher power super charge their hyper-growth.

Another example is cleantech an emerging industry with an inherent social impact. From a corporate storytelling perspective, the biggest issue cleantech companies face isn’t whether to incorporate social impact messaging, but rather, how to differentiate themselves from competitors who are also tapping into social impact.

Finally – according to the Fortune Return on Leadership survey, the world’s biggest companies experience productivity and profitability benefits by incorporating purpose and impact.

When Do Hyper-Growth Companies Need to Define Purpose?

Growth stage companies have an advantage: history doesnt’ hinder them. Existing companies often have to go through an intense reorganization to discover and fulfill purpose. For hyper-growth companies or emerging industries, the time to determine purpose is now. Elevating your company’s biggest aspirations in alignment with today’s social, cultural, and environmental challenges is a key growth strategy. Both private and institutional investors are analyzing a company’s social impact before they ever commit to investing, and this trend shows no sign of slowing down.

Larry Fink, CEO and chairperson of the multinational investment firm BlackRock, created a tectonic shift in 2018 when he said, “To prosper over time, every company must not only deliver financial performance but also show how it contributes positively to society.” In his 2021 letter to CEOs, he said, “It is clear that being connected to stakeholders — establishing trust with them and acting with purpose — enables a company to understand and respond to the changes happening in the world. Companies ignore stakeholders at their peril — companies that do not earn this trust will find it harder and harder to attract customers and talent, especially as young people increasingly expect companies to reflect their values.”

Defining, developing and implementing purpose is step one to ensuring a company’s strategic growth.

How Does Purpose-Driven PR Help Companies in Hyper-Growth?

A challenge many fast-growing businesses, especially those in emerging industries, face is brand building. Purpose is a considerable portion of a brand and while it gives internal and external stakeholders corporate structure, it also lends itself to authentic storytelling, which greatly aids in securing media coverage. For many companies in competitive emerging industries, PR is an important differentiator for those with industry-leading aspirations from brand domination to IPO.

 

With all the advantages of purpose-driven initiatives for fast-growing companies. The question is reall- can fast-growing companies afford NOT to define a greater purpose? We’ve been working shoulder to shoulder with our clients on purpose-driven communications and PR since 2008. From movements to politics to social impact, our success stories speak for themselves. Contact us today to get started.

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5 CleanTech PR Strategies for Right Now

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Cleantech startup PR is a crucial aspect of creating, organizing, and measuring the effectiveness of a PR strategy. Cleantech PR may cover a single goal or a year-long campaign. A cleantech PR firm ensures the drive is creative while illustrating how the brand adds value to the customer. If you are still on the fence about using a cleantech PR agency, you are at the right place. Here are 5 cleantech PR strategies every tech-based emerging industry company needs for success.

1. The Rise of Cleantech and AI

It goes without saying that as public relations and AI evolves, it will also affect cleantech PR. The great news is that there is no need for tech-based companies or startups to fear because, in the future, AI and cleantech PR will go hand-in-hand, with the former helping with all the heavy liftings when it comes to creating relevant content and SEO-optimized social media posts that are going to completely automate the process of maintaining public relations.

Many forward-thinking PR professionals are already utilizing AI-powered tools for monitoring and analyzing all social media mentions and online conservations to identify patterns of negative or positive sentiments.

When averting the negative impact of a crisis, AI-powered tools can help cleantech PR teams monitor, evaluate and identify possible emerging issues or existing negative sentiments that threaten to put a cleantech startup in a tailspin.

AI-driven technology will, without a doubt, completely revolutionize how cleantech PR firms can respond to concerns. The team can help mitigate possible damage detrimental to a cleantech-based brand.

Many examples show how forward-thinking tech-based businesses and cleantech PR firms harness AI’s power to track online media, analyze impressions, and correlate sales results to planned media coverage. Using AI’s latest tools, such as natural language generation, sentiment, and predictive analysis, cleantech startup PR firms can help emerging businesses and the top renewable energy experts in the cleantech space.

2. Media Outreach

One cleantech PR approach is media outreach, which is reaching out to various media sources and journalists to promote the cleantech company’s message and what their target audience may anticipate. This strategy is crucial since it saves tech-based companies both time and resources in the future when pitching their ideas to journalists for publishing.

Cleantech companies must carefully filter out the ones unrelated to their sector or business and focus on the channels relevant to their brand and expertise. It boosts the chances of publication and will give the cleantech company an idea of how to organize their material in a way that those specific sources consider worthy of publication. Social media is generally the go-to platform for cleantech PR firms looking to promote brands making waves in the clean technology space.

Social media is an excellent resource for media outreach mainly because it provides a casual platform for communicating with tech journalists, channels, and other resources naturally and acceptably.

With this in mind, while social media is considered a casual platform where cleantech PR agencies and journalists can connect, it is crucial for you as a company or PR agency not to be too simple and carefree when reaching out or communicating with journalists and other related channels mainly because you risk saying something inappropriate or something that may offend the particular journalist or media channel that you are reaching out to.

To ensure you leave an excellent first impression, studying the journalist or media outlet and how they interact with others on social media platforms is essential. You can then emulate the style they use in their communications to come across as someone they want to communicate with.

Unlike other PR agencies, cleantech PR professionals are consistently in the know when it comes to the journalists and media outlets that matter and know exactly how to extend their reach in a not considered inappropriate way.

3. Backlinking

Backlinking is one of the most cost-effective ways to disseminate cleantech PR strategies.  Backlinking is contacting journalists, bloggers, and other media sources, offering articles on themes in which your brand shines, and obtaining a reference to your website and business.

The mutual advantage comes from journalists receiving content for the industry in which they are interested from an expert. At the same time, the cleantech company gains much-needed exposure and brand awareness. While connecting with tech journalists, bloggers, and social media influencers is no longer shrouded in secrecy, a dedicated cleantech startup PR firm can communicate with the relevant journalists, bloggers, and social media influencers who will be interested in your service or product.

Only an experienced cleantech PR firm knows the importance of keeping tech journalists engaged even when you have nothing to pitch, mainly because if a cleantech PR agency only reaches out to a tech journalist whenever they have a new tech product or service to sell, then that’s going to be a clear giveaway that neither the cleantech PR agency nor the tech-based company is genuinely interested in establishing a long-term working relationship with them.

It will negatively impact the overall relationship between the journalist and the cleantech PR agency. It can also be disadvantageous as the journalist will be less passionate about what your brand offers and why a cleantech startup or business must hire cleantech PR agencies always who know the importance of keeping journalists and others in the industry engaged, despite of whether or not there’s a new product or service on offer.

For a cleantech PR firm, keeping in touch with the relevant journalists and social media influencers could be as simple as sending out regular ICYMI “in case you missed it” emails, sharing relevant stories or news articles, and leaving comments on their websites or blogs. Keeping in touch is a fantastic way to ensure the journalist knows you are genuinely interested in their work.

These thoughtful and organic interactions between cleantech PR professionals and journalists ensure a high trust they can build over time. It also makes a clean tech-based company position its brand name as an authority in a particular niche and not just some fly-by-night company.

For new companies ready to enter the cleantech space, it is crucial to realize that PR is now one-sided, as the cleantech PR agency is one of many doing all the work. There is a need for collaborations between the cleantech PR firm and the drivers of your cleantech message, such as journalists, media outlets, and influencers, now more than ever. It is why cleantech PR firms must understand the brand/client perceptions and work on a PR strategy accordingly.

4. Corporate Social Responsibility

Corporate Social Responsibility is another crucial part of the PR world, especially for cleantech companies always looking to find a way to spread the word about their new and fantastic product to a broader audience. When it comes to conveying a tech-based company’s message regarding corporate social responsibility, it’s all about creating a soft image of the company. It may involve sharing information on how the tech-based company seeks to reduce customers’ carbon footprint with their new products or that the firm is paying their staff more than the minimum wage.

It is not unheard of for tech-based companies to show their support for non-government organizations and charities, message their audience about what they care about, or even set up their own charity or social welfare program that benefits the local community. Hiring an experienced cleantech PR firm means that technology-based brands can come across as caring for the planet and the people.

It is optional to be a non-profit to show corporate social responsibility. In short, tech-based companies that follow the CSR model focus on the company’s bottom line, profit, and two other Ps: people and the planet.

Besides, you would want the cleantech PR agency you hire to convey your CSR vision to your clients, mainly because all CSR-based companies are Certified B Corporations, which means the organization meets very high standards regarding positive social and environmental impact. But, the truth is that a tech-based startup or business can practice and convey its CSR message whether they are certified or not.

One of the best examples of CSR done correctly is Dawn liquid dishwashing soap. During the 70s, research found that the brand was highly effective at cleaning bird victims of oil spills. Ultimately, P&G, the product’s parent company, donated crates of Dawn dishwashing liquid to Exxon Valdez. It became a media fixture in the cleaning-up process during the 1989 Exxon Valdez oil spill.

Sure, when it comes to cause-related marketing, it’s usually the company that selects the non-profit, but in this respect, it is the other way around. But, smart brand positioning gained something positive (for Dawn) from a sticky situation. So, what does this tell us? Regarding cause-related PR, tech-based companies must pick a cause strategically tied to the brand’s positioning.

5. Crisis Management as a CleanTech PR Strategy

Preventing a crisis is most important, but containing the PR impact is critical when you have one – especially for high-trust businesses like energy startups. Crisis management is an area of PR that you must recognize, mainly if your company operates in the tech space where software and product malfunctions are part of the package. A crisis management strategy is crucial, especially when an injury or a negative social media campaign is involved.

Hiring the expertise of a cleantech PR agency means you have professionals who will not only develop a plan but also coordinate resources toward dealing with the issue in a mutually beneficial manner. The team will find a  way that helps repair the reputation of the brand and addresses the needs of the affected party.

In short, hiring the expertise of a cleantech PR firm for crisis management is analogous to extinguishing a fire. It is only possible to employ a cleantech startup PR firm that always has a crisis management plan mapped up, documented, and communicated.

While we most certainly would like to think that we can “rise to the occasion” under pressure and handle any stressful situation like the professionals we are, that’s seldom the case. Keeping that sad but actual fact in mind, it pays to invest in a cleantech PR agency to handle the situation when …hits the fan.

Ending Note

In the end, cleantech PR is a dynamic industry constantly evolving to keep up with the advancements in new “clean” technologies and the challenges that arise. However, tech-based businesses and startups that need to realize the importance of consulting a cleantech PR firm are bound to be vulnerable. They might not just face the negative press but also need to catch up on the note-worthy shifts constantly occurring in the tech niche.

Hiring a reputable cleantech PR firm’s expertise will also help identify new business opportunities in the clean tech sector, allowing startups in the cleantech space to scale up their business and reach greater market visibility.

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