Entrepreneurs always need money. They need investment for new products or marketing. Until they get their business off the ground, they need money to survive. Unlike many years ago, entrepreneurs have many options to find people to invest into their business, but that means the competition for the same investment dollar is extensive. To have an edge, entrepreneurs will need public relations. Here is an article that explains why.
by Louise Harris
Entrepreneurs and start-ups often have a cashflow problem. They need an infusion of cash for new products, marketing, or survival. The competition for investors is high. Therefore, entrepreneurs must be savvy in how they promote themselves. They need public relations. Investors want to see your company name in the media. Here are some reasons why.
1 - Brand Awareness
Entrepreneurs might have a great new idea, but if no one knows about it, the idea is meaningless. Therefore, you should send a press release about your great idea. The more publicity you get in trade publications, local media, and online sites, the more people learn about your idea and what it would mean for them. This is important if you want customers or investors. Why would someone invest in your idea if no one knows what it could do or knows anything about it? They wouldn't invest. They would choose the next great idea and bypass yours. Sending regular press releases will increase the likelihood that you would get publicity and brand awareness.
2 - Legitimacy
Entrepreneurs know that all they have to do is open their e-mail to see many scams or shady operations. On the Internet and in social media, you can see ads for things that are not legitimate or makes false claims. You could click on an ad and it might take you to a Web site you were not expecting. It might be a phishing site or some other site you don't want to be. Because of all these possible ways people can be separated from their money, investors have to be careful. They have to invest in legitimate products and companies. Having your name appear on a local television station or an industrial publication would legitimize your company and operation because an independent third-party is doing a story about you. To prove your legitimacy, you have to do more than have a YouTube Channel or an infomercial. You need a reporter to write about you or talk about you. The others are good ways to spread brand awareness, so you want to keep doing those. But, to get the media to write about your company, you need to send press releases and follow up with them. Investors will be more likely to give you money if you can prove your legitimacy.
3 - Product Information
The media provide information to the public. That is their job. They can reach many more people than entrepreneurs can by themselves. If you want to give investors in Silicon Valley or New York information about your new idea or product, the best way to reach them is through the media. That's not to say you don't want to create a kit to give investors. You still want to do that, but those kits are designed for trade shows or a one-to-one conversation. Having your story on national radio or television will reach more. Investors might see your product on television and ask you about it. You might not have considered contacting that person or company because they are in another field from yours. However, many billionaire investors like to diversify their holdings. Therefore, sending a press release to the media could lead to investors calling you.
Entrepreneurs must remember that getting publicity for their product will help them find the investors and make them appear legitimate.
Entrepreneurs can get advice on sending press releases and public relations by relying on the experts at Faselis Growth. You would get the publicity you need to sell your product.