5 Reasons Why Doing PR is Vital to Success

Do we need PR? Possibly. Possibly not. It all starts with your goals. These are the 5 reasons why PR is vital to growth. Straight up: PR is a true differentiator; less than 1% of companies ever receive media coverage. And reputation management couldn’t be more important than it is today. While it might be tempting for businesses to focus on sales and marketing only, and it’s technically possible to operate a business without PR, it’s virtually impossible to become an industry leader or a household name without PR. Emerging industries, which need to establish credibility to investors and consumers, and hyper-growth companies with very ambitious growth plans need PR.

For emerging industries and hypergrowth brands in particular, PR is a vital partner to business goals that have long-term effects on the success of growing companies.

5 Reasons Why Doing PR is Vital for Emerging Industries and Hyper-Growth Brand Success

We specialize in emerging industries and hyper-growth brands, be they B2B or B2C. From raising awareness with consistent media placement to aligning social media with your most important key messaging, to crisis prevention and management, having a cohesive and active PR presence is the secret ingredient to building brand equity and awareness. We’re so committed to helping you get to the next level; we base our PR pricing on your strategic objectives.

 

  1. Increase Revenue: PR has genuine and exciting implications for revenue growth. More credible than advertising, PR contributes to increased sales conversion and deal flow improvement, as well as decreasing churn and increasing customer lifetime value (CLTV). Working with your top PR firm to develop baselines and KPIs for your business goals not only allows you to see the impact on your bottom line, but also enables your PR firm to develop a strategy that is effective and long-lasting.
  2. Attract Investors: For many emerging industry companies and hyper-growth brands, attracting investment is a key goal for scale. Investors like to see that your product has legs. There is no better endorsement of your product’s potential than media placement. It might be tempting to only use PR after you’ve secured investment, but PR can increase deal flow, give you more brand equity, and improve the quality of investment.
  3. Competitive Advantages: If you’re in an industry where there are a lot of competitors, then you absolutely need public relations. PR will help you clarify your messaging and ensure you know where and when you can stand out. Further, in crowded fields, what do consumers do? They Google brands to find reviews and articles. If your brand has this critical 3rd party social proof, it’s a massive edge for your brand.
  4. Recruitment: The best candidates know their value and want to work for companies that are known entities in their industry, no matter whether the job market is tight. Great candidates are rarely interested in growing a business that hasn’t committed resources to growing the business. No one ever became an industry leader by focusing solely on cutting costs. PR shouts from the rooftops: “we’re serious about our future,” and that’s just the message to appeal to the best and brightest talent at all levels.
  5. Attract Acquisition, Investment or an IPO: Sometimes the next stage in a company’s growth is an acquisition or an IPO. For both scenarios, completely integrated PR and marketing efforts are critical. For emerging industry companies and hyper-growth brands, if you’re serious about being acquired or an IPO, AND you want the best price for your company, now is the time to double down on brand equity investment. These strategic objectives require an aligned pre-IPO PR strategy that may differ from what you’ve done in the past. But since our company has done this many times, we can help you navigate and implement the strategy flawlessly. Potential investors, like venture capital, like to see you building your brand, this is especially true if they see your company as a potential unicorn…or do they see your company as a potential unicorn because of PR? Either way, securing media coverage, having a crisis communication plan, and a solid thought leadership strategy all invoke investor confidence during all stages of growth.

Why is PR your secret weapon? These are only the most critical to business goals; hundreds of smaller PR advantages increase revenue and even save you money. At Avaans Media, we’re exceptionally proud of our A-team, a group of experienced and insightful communication experts who never stop working for our clients. Get started being the most important brand you can be. Contact us today for a discussion about your business goals.