We were hired to launch a startup that specialises in using “edge devices” - e.g. MRI machines, supermarket checkouts, connected cars, mobile devices - to train deep AI learning models for a range of industries, negating the need for use of the Cloud and thus securing data locally. It was packaged up as part of a Series A funding round of around £5.5 million and covered by the likes of TechCrunch and Business Insider, leading to over 50 inbound leads that were directly attributed to PR by the company, including a number of potential enterprise-level clients. The momentum gained from that led to considerable profile coverage and ultimately supported another fundraising campaign.
📚Nerd alert! As chartered practitioners we, of course, recognise that Public Relations is a management function which uses a multidisciplinary approach to stakeholder management with the view of building a company’s reputation. However, in the world of startups and growth ups it is mostly interpreted as a marketing tool to build awareness, bring traffic and leads via publicity, or media exposure. We shall stick to this interpretation of PR for the purposes and within the limits of this text.
A media mention in a top tier publication can unlock exponential growth. A good example is a Ukrainian PJ brand, Sleeper. When Franca Sozzani, Vogue Italia's editor-in-chief, named Sleeper Vogue’s brand of the month a few weeks after the business launched, it brought the founders immediate fame and a coveted sell-out. An even more extreme example of the disproportionate growth impact from media coverage is Meghan’s or Kate’s effect. Whenever the Duchesses wear a niche brand, its website gets attacked by the royal fans who buy the stocks out and queue up on a waiting list.
Ian Wallis
In the case of most tech startups, especially B2B, the third party endorsement of a respected publication or journalist can help you secure the next round of funding, attract talented staff, and build the sales pipeline. To punch above your weight you want to appear alongside your more established peers and one of the best ways to do that is through good PR.
But there are many small businesses and startups that have never looked into the whites of a journalist’s eyes or received a piece of media coverage and do perfectly well through good growth marketing, partnerships, local presence or word-of-mouth. B2C brands in food and beverage, for example, might secure shelf space in a supermarket or Fortnum & Mason through getting in front of the buying department and blowing them away with the product. They might have an incredible in-house Instagram or TikTok presence that builds a fanbase.
But it will almost certainly be PR that tips the scales dramatically. Think back to Innocent Drinks’ or Pip & Nut’s growth stories, which relied heavily on the founders getting a media profile, the businesses winning awards, and event organisers then inviting them to speak.
Based on our experience, companies that are more likely to unlock growth through PR engagement fit one or more of the following criteria: