4 key benefits to a professional PR strategy you might have overlooked

Public relations (PR) undoubtedly plays a critical role in building your Company’s brand narrative in the media, one that is different from what your customer knows is your curated brand messaging (think advertising and product packaging, or your website and social media).

PR’s voice is not strictly your own; it’s key messaging, awareness, and visibility delivered via trusted third party sources like the media, through awards at events or via influencers.

While this external validation is one of the key drivers of PR as a tool for business, strategic PR is not just about winning over end consumers; it's a multifaceted tool that can significantly contribute to achieving broader business goals.

So, who is your PR for if we think beyond your end user or customer? Here are four key benefits to – and audiences for – a professional PR strategy that you might not have considered and where we’ve seen amazing results for clients at The PR Hub.

Attract Investment

I’ve worked with some amazing VCs and investors over the years who all agree that the PR (the business’ narrative) and also the personal brand of a founder is a critical piece when they are deciding whether to invest.

We have also supported many clients over the years as they’ve built their business to a point where they’re recognised – or even sought out – by potential investors. We become a trusted partner throughout the capital raising process, working together to develop key messages, suitable media coverage that gains the interest and confidence of investors in their business, and subsequent narrative and execution of the announcement of successful raises.

When you’re going down this path the narrative matters. It is also likely to differ from that which you target your end customer with so make sure you spend some time thinking it through before you go to market.

Facilitate a business sale

Over the years at The PR Hub, we have worked with at least a dozen businesses who, as part of their ‘big hairy audacious goals’ (aka BHAGs!), have been focused on building a business that they can eventually exit (sell).

?It’s a common misconception that building a personal brand or story behind your business means it will make exiting the business difficult or even impossible, or that its value is somehow tied to you personally.? And what I can tell is that every one of our clients has eventually recognised (even if it took some time!) the value in building their personal brand and thought leadership position in the media, and some then leveraged this heightened visibility to not only attract potential buyers but also add significant value to the company during negotiations, debunking the myth that personal branding inhibits business saleability.

Some great examples of this include award-winning entrepreneur Taryn Williams who exited her technology startup theright.fit, young rich-lister Nick Bell who sold his digital marketing agency WME for $39 million and Simon Davies, founder of Bastion Brands, which was acquired by Havas group.

?Talent magnet

Who hasn’t heard – or said themselves – ‘We are really struggling to find great talent”? A structured PR approach can serve as a powerful recruitment tool by showcasing your company's origins, culture, values, and leadership.

I know of clients who have had candidates mention having seen or read about them in the media during their interview process, heard a podcast episode that they were featured in, or who already follow them on LinkedIn. They’ll describe how interested or impressed they were to hear their personal back story and/or business journey.

Aligning personal and company branding not only attracts talent but also fosters a sense of authenticity and connection with prospective employees. I have experienced this myself while interviewing potential candidates, which always reminds me of the importance of making sure my own personal brand is aligned with my company brand and value. Also, that people also love to put a face to the company name. This is me ‘practicing what I preach’!

Cultivate partnerships

Just as in personal relationships, potential business partners want to find out what you’re doing as a business, who in the media is writing about you (i.e. earned media, not paid), what they’re writing, and what you have to say.

A variety of PR ‘wins’ across different media through different channels adds credibility and demonstrates your expertise. I recall one example where a client of ours, through a single piece of earned media, was spotted by an international distributor who subsequently contacted them and the two were in business together shortly thereafter.

Your PR strategy is so much more than your customer, ‘strategy’ being the operative word here. Conducting the symphony, juggling all the moving parts – knowing who to target, when, why, and how –? is your professional PR machine at work. And understanding PR’s pivotal role in shaping the narrative for every one of your audiences may set you apart from your competitors, and act as a potent catalyst to help you achieve multiple business objectives while you’re at it.

This article first appeared via Kochies Business Builders here

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