Saying nothing is loud and clear. From startup to public traded company, there is an opportunity for earned media that many tech companies are missing right now. Not a day goes headlines aren’t pummeled with lay offs, cut backs or, as of today, startup-funding banks closing. For companies in growth mode, the once cutthroat competitive landscape for media attention is opening slightly. Example -- the same companies going through layoffs aren’t pitching positive stories to the same media writing about their deficiencies.
What didn’t work two years ago, may now
What was once a race to differentiate between competitors or stand out in a crowded marketplace, may now be an easier “sell.” Especially in the startup world, human interest stories in the “survive and thrive” genre are resonating along with more coverage of success moments that aren’t as frequent. For example, startups who close a Series B round are more compelling because those rounds have fallen sharply.
The media you earn during these moments sets a company up for the next round of funding and has major implications in launching a company’s post-funding earned and owned media strategy. Remaining relevant in the news cycle (think: every 28 days) is a major part of what our team calls the Reputation+ model and impacts authority and awareness for every single stakeholder.
“Always on” mentality
We all know that major media coverage doesn’t happen overnight. No professional relationship in any capacity works like that. It’s important that your public relations team has regular outreach with media across all of your target verticals. From story starter ideation to early outreach on major company news and announcements regular “drip” outreach builds long-term relationships on behalf of your brand.
Companies who conduct media outreach or thought leadership moments infrequently (less than once a month) can expect the same from media results.
Media strategy matters more than ever right now because the portion that includes “white space opportunities” is a gap that is widening.
While product-led announcements typically incur the lowest amount of coverage, in the current economy, there are new ways to position these types of things if they: save money, save time, impact employee satisfaction, reduce waste, etc… These types of stories didn’t really work a few years ago because almost everyone could say the same thing.
Working with an internal PR team or external agency in an “always on” capacity means they build out a 28-day strategy that includes a full-scope strategy: major announcements, proactive story starters, reactionary topics, thought leadership, owned amplification and more. Fully executed, it gives marketing counterparts ample opportunities to retarget and implement paid strategies to further connect with stakeholders.
Earned media increases investor meetings
Recently, a friend of mine, who also happens to be a founder in an industry that is getting funding, got a “big deal” earned media placement. This particular piece linked him with some impressive third-party credibility and thanks to particular words and phrases in the article, it’s now the number one result for him on Google (and Google News). Why does it matter?
He is currently fundraising and investors are researching him before meetings. Coincidentally, after securing this major placement, he noticed an increase in the number of investor meetings accepted over the next two weeks.
How did they get the placement? It doesn’t hurt to have a friend in tech PR who was able to offer them as the perfect source to a reporter who was actively working on piece already.
Imagine replicating that across the board with bylines in trade publications investors or customers read, a podcast tour to get your voice heard or with multiple secured media opportunities that alert your Linkedin connections, like investors, that you’re in the news again.
Score.
Public relations practitioners understand the changing media landscape and interact with reporters to keep a pulse on what they’re looking for and what stories they want to tell.
Be part of the story.