Tag Archive for: tech PR

Cybersecurity and ESG in the Pre-IPO PR Roadmap for Startups

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It’s impossible to ignore the dismal status of IPOs right now. But investor advisors from PwC to Morgan Stanley are reminding startups – this will eventually change and startups need to use this time strategically. As startups embark on their journey toward an initial public offering (IPO), they face many challenges and considerations.  Investors want to know that companies are reaching the widest possible audience and protecting their reputations, making cybersecurity and ESG  indispensable imperatives in the Pre-IPO PR roadmap.

While fundraising, growth strategies, and market positioning often take center stage, it is critical not to overlook two essential communication and PR components today’s investors are emphasizing their significance in building trust, mitigating risks, and ensuring long-term success.

Safeguarding Valuable Assets: Cybersecurity

In today’s interconnected world, cybersecurity is no longer an optional investment but a fundamental requirement for startups. As businesses increasingly rely on digital infrastructure, the risks associated with cyber threats have intensified. Investors, stakeholders, and customers are acutely aware of the potential damage from a data breach or a cyberattack. Therefore, startups must prioritize cybersecurity as an integral part of their pre-IPO roadmap, including the crisis communication plan.

Implementing robust cybersecurity measures shows a company’s commitment to safeguarding valuable assets, including intellectual property, customer data, and sensitive financial information. By conducting regular risk assessments, developing comprehensive incident response plans, and adopting cutting-edge security technologies, startups can instill confidence in their investors and inspire customer trust. A strong cybersecurity posture can serve as a competitive advantage, differentiating the startup from competitors and reassuring potential investors about the company’s ability to protect its digital infrastructure.

ESG: A Paradigm Shift in Investor Expectations

Environmental, Social, and Governance (ESG) factors have emerged as a defining criterion for investors, signaling a significant shift in market dynamics. Startups must recognize the growing importance of ESG considerations and integrate them into their pre-IPO PR roadmap to attract sustainable and responsible investment.Communicating ESG can be volatile, so it’s imperative to incorporate seasoned Pre-IPO PR pros.

Environmental Responsibility: Startups must demonstrate their commitment to minimizing their environmental footprint. Adopting eco-friendly practices, promoting energy efficiency, and embracing sustainable business models are crucial in aligning with investor expectations and addressing climate change concerns.

Social Impact: Investors increasingly demand that companies prioritize social impact and contribute positively to their communities. Startups can emphasize diversity and inclusion programs, ethical supply chain management, and social responsibility projects to showcase their commitment to social values.

Governance: Good corporate governance practices are essential for startups as they navigate the path to IPO. Establishing a robust governance framework, including transparent decision-making processes, strong internal controls, and effective risk management, not only safeguards the interests of shareholders but also signals a commitment to ethical business practices.

By embracing ESG principles, startups can attract socially responsible investors who value sustainable growth and positive impact. Integration of ESG considerations also mitigates potential risks, enhances the startup’s reputation, and fosters long-term resilience.

Regulatory Compliance and Risk Mitigation

In the pre-IPO phase, startups must proactively address regulatory compliance and risk management to instill confidence in potential investors and avoid legal pitfalls. Regulatory frameworks surrounding cybersecurity and data privacy constantly evolve, necessitating startups to stay abreast of legal requirements and industry best practices.

Compliance with regulations such as the General Data Protection Regulation (GDPR) or the California Consumer Privacy Act (CCPA) is crucial to avoid costly penalties and reputational damage. Startups must implement robust data protection measures, including encryption, access controls, and regular audits, to ensure the security and privacy of customer data.

Startups must conduct thorough risk assessments to identify potential vulnerabilities and implement risk mitigation controls. By proactively addressing cybersecurity and ESG-related risks, startups can protect their reputation, foster trust with investors, and secure their future as successful public companies.

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What Makes a Great Tech Story Today

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Tech PR needs to be reinvented. Telling a great tech story today differs from what it used to be.

For the past 15 years, tech has been leading much of the conversation, so with a few press releases and a TED Talk, an upcoming and coming CEO could set the agenda. Zuck set the “let’s make an interconnected world” agenda. Steve Jobs set the “intuitive design” conversation. And while there is plenty more innovation headed our way – tech itself is no longer the story.

Emerging tech companies need to connect to the conversations their community is having or going to have in an enormous way. Why?

Today’s reporters need stories that capture the moment, not navel-gaze into the future. 90% of tech writers are curious about backend technology, but won’t write about it. Most outlets only have one tech reporter, that poor person receives over 500 pitches per day and an uncomfortable number of them are still using buzz words like “innovative”, “disruptive”, and the worst of them all, “unique.” These words now cause journalists to glaze over because they’re so overused and increasingly unbelievable. The question comes down to “WHY?”

 

So if Tech Itself is No Longer the Story…What Is?

Technology companies need to tell stories about how they’re connecting to the stories consumers are watching. Great tech stories often start with core values and it isn’t just consumers who want to know more about how you’re solving the world’s actual problems, it’s investors too – 88% of institutional investors are evaluating ESG (environmental, social, governance) with the same scrutiny they give operations and finance.

Let’s look at what people are searching for on Google:

How to Tell a Tech Story today

Look how emerging tech doesn’t even register compared to climate change and racism. There are far more reporters covering these emerging trends than the tech itself. Tying your tech story into the zeitgeist, that’s where tech companies become indelible.

Here at Avaans, we write a lot about purpose, what it is and why it’s important to fast-growing companies. Even though we are a boutique firm, we have guiding principles as well.

That’s because not only does a clear purpose give the company and the brand extra internal fortitude, but it allows consumers to connect with your storytelling on a deeper level.

Regardless of stage of growth, having purpose is the path to longevity and a connected customer base. It’s also a great launching pad for purpose-driven PR.

Digging deep to find these stories may take some time and candor about corporate culture – but these are the stories that stick. These are the stories that create memorable brands. You can’t start telling this story too early.

 

What Makes a Great Tech Story Today?

Every story needs to be:
Relevant
Inevitable
Believable
Simple

As you look at these components, you may think about how your technology fits into these buckets; resist that urge for a moment.

The first two are the lowest hanging fruit, the last two can take years. Take, for example, Salesforce. When they wanted to grow, they made a simple but audacious claim: the end of software. Establishing relevance and the inevitability of tomorrow’s cloud-based world were the simple parts. Notice how they made that claim about the user, the client, not themselves, and it was simple. The stories about how this changes business and the world are immeasurable. But, Caryn Marooney who worked with Salesforce during those early days says “it still took us years to establish true believability,”.

Set your expectations accordingly. Expect to get two to three of those messages across in the early stages. As you grow, as you show more credibility, and as trust between your company and the media increases, “Believeable” will come. Trust isn’t something manufactured in a boardroom, trust is earned.

Today, Salesforce continues to tell stories relevant to their customers and the media that aren’t about technology. Salesforce recently claimed that the “Salesforce economy will create 9.3 million jobs and $1.6 trillion in new business revenues.” The white paper is chock full of bite-sized data that an entire story can be built around the new economy, what this means in today’s labor shortage, the threads are endless and the study gives legs to talking points that can last a year.

 

The Case for Tech Storytelling Over Trade Shows

Let’s be clear – we’re big fans of tech tradeshows and conferences. Many a product has gotten media from its standout strategies at CES for example. But the coverage around CES, like any tradeshow, is diluted and noisy. Reporters at conferences are looking for clickable headlines: they want big dollars, ticker symbols, known brands.  At tech trade shows you need to stand out with remarkable, word-of-mouth activations, to give extra lift to your story – or you’ll probably share the story with 1 or 2 competitors. Sure, a trade show can give you a lift, and it can be an excellent place to connect with the media – but you simply can not rely on a trade show to do all the heavy lifting. We so often see companies make a trade show their launch or the key message for an inordinate amount of time. The fact is, trade shows give a temporary boost, but great tech storytelling goes on for decades. 

Here’s more good news: the more simple your key message, the longer your tech storytelling will last. Counter-intuitively, simple messages last longer and provide more room for interpretation.

 

A colleague of mine once asked “Why does everyone want to go viral (with their content), I want to go cancer with my content, I want it to last a long time and fight to stay,” Tech storytelling is the same, tapping into current media trends and the mindset of the customer. Core values, Purpose, a solid mission, and knowing your next 3 steps will ensure your tech story starts out great. 

If you’re looking for a tech PR agency that goes the distance with you to find the great tech stories of today and tomorrow, then drop us a note, we’d love to dig deep with you too.

 

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Google’s Latest Product Review Update Means for Consumer Products PR

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Google once again updated its Product Review Update for 2022. Google’s Product Review Update and consumer PR are closely tied. Yet, for many CMOs and PR people, this update falls below the radar, but it has big implications for consumer products, consumer tech and household goods PR, SEO, and marketing, so it’s important to pay attention. Last year, we covered Google’s views on product reviews too, so if you read last year’s piece, some of this may sound familiar.

[5 minute read]

The April 2021 Google PRU provided these guidelines for reviews and consumer PR:

  • Express expert knowledge about products where appropriate? 
  • Show what the product is like physically, or how it is used, with unique content beyond what’s provided by the manufacturer?
  • Provide quantitative measurements about how a product measures up in various categories of performance?
  • Explain what sets a product apart from its competitors?
  • Cover comparable products to consider, or explain which products might be best for certain uses or circumstances?
  • Discuss the benefits and drawbacks of a particular product, based on research into it?
  • Describe how a product has evolved from previous models or releases to provide improvements, address issues, or otherwise help users in making a purchase decision?
  • Identify key decision-making factors for the product’s category and how the product performs in those areas? For example, a car review might determine that fuel economy, safety, and handling are key decision-making factors and rate performance in those areas.
  • Describe key choices in how a product has been designed and their effect on the users beyond what the manufacturer says?

 

What Will Google’s Product Review Changes Mean for 2022?

No doubt, Google’s PRU and consumer PR play in the same sandbox. Savvy editors will look at their product coverage with fresh eyes because this can be a huge impact to large publications with lots of reviews content. Today’s editors are more than content strategists, they’re expected to incorporate SEO considerations into their coverage as well. In the April 2021 Google Product Review Update (PRU), Google announced it would reward in-depth review articles that showed extensive knowledge of the product and context on its usefulness.

This year, it also strongly suggested that it will favor coverage that includes the writer’s own experience with the product – this could be a photos, videos, or other evidence to reinforce the product review expertise and authenticity. Google ALSO wants reviews to provide multiple sales links so the consumer can purchase at the merchant of their choice. This is reasonably good news for DTC products since they will now have a higher likelihood that they will include their URL alongside other purchasing options.

 

Earned Media: Help Journalists and Influencers Be Product Experts

The more you can do to make a journalist or influencer an expert, the better your earned media will be and the happier editors will be to include your products. For CPG companies or consumer tech companies, this means product samples should include in-depth tips that highlight product features and use cases so the reviewer can get to work quickly by experiencing the product. It’s tempting to just throw a product into a shipment the same way you do with consumers – but keep in mind, your customers have already researched your product. Developing B-roll for the product is key also, this allows your reviewer to create high-quality product video quickly. Your customers probably already KNOW the features and comparisons, but a journalist or influencer may not. We’re recommending that companies with a PR sample program get really smart about their PR sample kits. Media kits should also include several links, including major sites with affiliate programs, like Amazon. Take advantage of Google’s Product Review Update for your consumer PR.

 

Paid Coverage: Don’t Lean Too Heavily on Thin Affiliate Content

In April 2021, Google warned that thinly reviewed affiliate links would have even less authority than before – site reviews have proven. Yes, links matter, but if the entire site’s SEO depends on low-quality links, then their content and the site will not receive the much-coveted Google authority. For CPG or consumer tech or household goods brands, this is really important, because historically, your SEO and PR team would work together for affiliate links and product placement. But affiliate links will continue to be relevant for media outlets looking to diversify their revenue streams, so if you haven’t already, make sure you’re providing journalists with an affiliate link too.

Owned Media & Paid Media: Comparison Charts for the Win

It might seem counter-intuitive, but the more you can provide content as to how your product compares, the more likely your product is to be included. This is especially important for consumer product companies who are up against major household names. And if your product is well-suited to a particular niche, this is the time to exploit that. Remember, providing the context saves huge time for the journalists and makes it much easier for them to create multiple product reviews for your product.

On your website, consider these tips for your product pages too. You can’t be too helpful for Google.

Paid Media: Incorporate Branded Content Accordingly

For both your earned and owned media, keep these updates in mind to ensure your content stays fresh in the eyes of Google. Whether that’s a press release or a blog post or sponsored content, do yourself a favor and incorporate both 2021 PRU updates. And think ahead. What Google is trying to do is ensure search results match intent (informational vs. buying, for example), match the searcher’s desires. Take the high road on content – make it useful, contextual, and keep your buyer’s customer journey in mind. If your content is for those on the early side of the buying decision, then make sure your content answers common questions for early-stage buyers, if your content is for those who are ready to buy, be sure to incorporate those keywords as well. If you think ahead and remember your customer’s intent matters a lot to Google, your content can pay dividends for years to come. Regardless of who is creating the content, be sure you include keywords and the overall strategy of the document to the writer. A decade ago, SEO content could be reasonably low-quality content, so long as it was jammed with keywords. Since then, Google has been signaling its desire for high-quality content, and it’s been doubling down on that every year – product pages and product reviews are no exception. Now isn’t the time to take a shortcut.

 

2022 will be a big year for a lot of consumer products as the supply chain (hopefully) loosens up, so stay attuned to Google and make sure your SEO and PR are coordinating intentions and content. Contact us today to incorporate these important digital considerations into your PR.

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