Does your startup need PR?

  1. Creating Awareness: Founders passionately understand their concept and product and assume so does the world. However, this is not true. This assumption that others too understand, causes a lack of information to fester in the real world, putting unknown startups at a dangerous disadvantage. This is where a sound PR strategy can help you immensely. It helps you build an articulate story for your startup and communicate it effectively such that your end consumer connects with your brand and understands the value your startup brings to their life. PR is also an ideal tool of choice for startups because of the credibility it brings through conversations driven in media and influencer spaces unlike promoted and bought content spaces.
  2. Brand Building: Brand building through PR may seem like a long route that doesn’t lead to any evidently direct sales. However, building brand credibility influences your audience to buy your product or service. Direct marketing strategies may convert into leads quickly, but that will only be temporary. A brand on the other hand is a strong asset to build that in the mid-long term will help bring down customer acquisition costs and deliver tangible and measurable benefits through sustainable growth in profitability. This will lead to an increase in valuation which is a crucial strategy towards raising funds from VCs and angel investors.
  3. Great Feedback Loop: The early formative years are when interacting with customers becomes essential for operations because products don’t sell by themselves. Interacting with the media will help you sharpen your brand messaging. The push of PR initiatives helps startups shape messages that can deepen understanding and awareness for audiences outside of their professional circuits. It builds reputation, with which comes credibility. Free feedback, journalist perspective, and the exposure, all come together to enable founders to improve their presentations and adapt messaging and campaigns to the environment.
  4. Online Visibility: 63 percent of shopping occasions begin online according to Thinkwithgoogle 2018 statistics. Add to this the fact that global e-retail is estimated to grow to $4.8 trillion by 2021. When it matters most, will you be visible to your consumer? Press mentions help your search engine rankings go up the value of which is immense. If the world doesn’t know you exist, or if they don’t understand what you do, your business will be no more than a mere idea.

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Afthonia Lab

Afthonia Lab

Afthonia focuses on early stage startups in Fintech and provides them with a trusted ecosystem to grow and succeed. #incubator