Entrepreneurship may be one of the hardest endeavors anyone can take on. Just getting your idea for a new product or service out of your head and onto paper is an achievement. Then comes researching your competitors to make sure you really are filling a niche along with creating a business plan, finding funding, and building the infrastructure of your company.
When the day comes for you to go live and open your business, you will have already run a long marathon, one that has tested your resilience and commitment. Now, your doors are open, your products are laid out, and you have all the software you need to run your company. It’s time for the phone to ring and money to start rolling in, right?
Not exactly. The frustrating reality about running a business is that you can have the best idea in the world, yet if no one other than your mom or best friend knows about it, you will become part of the dreaded 65%: those entrepreneurs who fail within the first ten years of starting their companies.
Enter PR, which, done well, can be instrumental to helping your company to rise above the noise of numerous companies that are all trying to get their products and services in front of consumers.
Good PR Is About Helping Your Company to Nudge Aside Your Competitors and Claim Your Spot in the World.
In a world with billions of people, amplifying your business’ voice to potentially reach them is daunting. How exactly do you do that when so many other companies are already established and have their own customer base?
First, your public relations strategy will help you to know yourself: your values, your story, and, most importantly, the reasons the public will care about what you offer. You are unique, after all, and are filling a vital gap in the market. PR helps you to express this in a way that resonates with your potential customer base, key to establishing yourself in the market.
Second, with that information, you will be able to shine a light on your company. You may start small – everyone does, of course – but as you stay true to your messaging, you will establish yourself in the public’s eye, and more people will come to check you out. That’s the value of a good PR strategy: one by one, customers will find you, even in this big world we live in.
PR Helps You to Expand Your Social Circle, One Person at a Time.
Any startup can benefit from a PR plan that is designed to increase the number of individuals that you meet. Business is, after all, about relationships, as people tend to buy from companies that they know and trust. It is also about generating strong word of mouth.
Consider this fact: the average American knows 600 people. Just think of the possibilities you have here: if you tell someone about your company, that is another 600 people who may hear about it. Okay, it’s true that it’s unlikely they will really mention your name to all of those people, but you get the point – a PR strategy that helps you and your business to become more well-known in the community can only help over the long term.
PR Gives Firm Support for Your Business Plan, Helping You to Grow Faster.
Even those entrepreneurs who have drafted a strong business plan, one that lays out the next five years of the company, will find themselves needing a public relations strategy. For the business to level up, it will need to accomplish specific goals, including profits, the hiring of employees, a new building, and other important milestones.
Key to doing this will be the company’s ability to consistently bring in high sales, which is linked, you guessed it, to a quality PR campaign.
PR Can Be Worth the Investment Even In the Lean, Early Days of a Startup.
Anyone who has ever started a company knows how important every dollar is. In the beginning, when it seems like all of your company’s money has been allocated to something and there is nothing left even for you, you can be tempted to skimp on the budget for your public relations plan. Is that the right thing to do? The answer to that question will depend on the entrepreneur, but here is one last idea to consider: no company has ever found success without being committed to public relations.
Imperium Group is an American public relations and marketing consultancy firm. Founded in 2016, it specializes in guaranteed placements, creating utmost transparency for its clients. Imperium Group generates over 15M impressions a month for its clients. Its team is based out of New York, Dallas, and Los Angeles.
For more information about Imperium Group, please see https://shop.imperiumgrouppr.com/.
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