More often than not, leaders of these tech companies have leading-edge strategies on the tech side fueled by years of industry knowledge and experience. When it comes to marketing a business, however, experience among decision makers is less common. Having a stake in that company makes it that much more important to relay the advantages of PR as they build their brand and expand their business.
A tech PR firm can take on the bulk of external operations, leaving you to focus on advising internal business strategies. To get the best results from PR and marketing, the tech startup and PR firm should be well matched. Similar to the crowded startup market, VC firms have been facing more and more competition over the years. So while it is important for the startups in your portfolio to get adequate coverage, your VC firm can benefit from positive media attention as well.
Gaining more traction for your brand can help elevate your status to an industry leader, attract new startups, and grow your portfolio. Startups are not taking all the credit. The VCs backing a startup are almost always recognized in the media alongside the startups they back.
For startups and VCs alike, press mentions are opportune for building brand awareness and increasing credibility. Earned media coverage not only gives the startup a boost of legitimacy and credibility, but it can drive traffic to both parties. They can ensure the announcement not only sounds good and contains all necessary elements, but can also make sure the announcement reaches the top tech media contacts.
This level of connectivity is pivotal for a milestone as big as a funding announcement. As a VC, you expect a return on investment from the startups you work with. This goes for anything you invest in, including PR.
For example, if a campaign goal is to raise brand awareness, the metrics for that awareness can be measured by social engagement, website traffic and contact conversions. As a VC, you recognize potential when you see it. Once you take the next step and add that startup to your portfolio, however, part of your role as an investor and advisor is to make sure everyone else sees the same potential and value in the startup as you do.
And the best avenue to getting media coverage is through a startup PR firm that already has relationships with the top tech publications and writers. First, what is the investment value of PR? And second, is it really necessary for a startup to work with a PR firm? The market has never been more saturated. With thousands of startups attempting to establish themselves in their industry or become the next unicorn , PR and branding have become even more critical for early stage startups.
This is where good PR comes into play. A PR firm can determine what gives the startup a slight edge and what will get the media to pay attention.
With a strong media strategy in place, a startup is already a step ahead of the competition. Next, you may be questioning what exactly your role is in the relationship between the PR firm and the startup. Portfolio companies of VCs are run by tech innovators who are often not marketing savvy.
As an investor, part of your role is to advise on high-level strategies for their startup which includes brand marketing and awareness. This is where having a network of startup PR firms that you can tap into becomes vital.
By connecting them to one of the PR firms in your network, you give them the opportunity to focus on internal operations, like refining their product, while the PR firm will take the lead on the external operations like branding and media relations. Consider building relationships with about PR firms that you can connect to the different types of startups in your portfolio. He invests in startups but also helps Google Ventures portfolio companies with PR strategy as well.
Clearly some of the brightest and most well-regarded talent in the technology PR industry are no longer just at agencies or in-house. And technology PR is not an easy task—to do the job well, it requires a technical understanding of the product and the ability to digest and relay this information in a communicable way. Startups realize that having this on-hand at their investment firm is an asset to them, Mendell explains. And many of the pr execs mentioned above are solely focused on helping portfolio companies as opposed to doing in-house communications for the firms themselves.
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