In a previous post, ClearStory’s MD and Founder, James McCann, outlined the importance of leveraging funding news to establish core messaging and build credibility. Now, we need to tackle the next question: what’s the best way to leverage that funding announcement for maximum impact? What channel is most effective for getting your funding announcement out there? Let’s dive into the different approaches!
Going Solo: The DIY Approach
Some startups opt for a DIY press release. This involves researching funding announcement templates, drafting your message, and pitching directly to journalists and relevant outlets like TechCrunch, VentureBeat, DealStreetAsia, and others.
While this can be a valuable learning experience for pre-seed startups, it’s time-consuming and requires a strong understanding of what makes a story newsworthy. But it is both time and effort-intensive.
Newswire Services: Worth the Cost?
The second approach is to use a newswire such as PR Newswire or Business Wire. What is a Newswire? Services like PR Newswire and Business Wire offer paid distribution of your press release (around $1,000 per release at the high end and about $100 on the low end).
However, this approach is not targeted. 99% of the links you receive with your press release won’t have an active audience or brand gravity. It often results in low-value links that don’t boost your website search ranking or your brand awareness.
Newswire services tend to be better suited for publicly listed companies, as journalists will watch the PR newswire for corporate earnings announcements. For early and scaling companies, they are of little value. You reap little to no brand awareness or credibility benefits.
Partnering with a PR Consultancy To Build Your Reputation
A PR consultancy with a proven track record is another option. A PR agency focused on reputation building can amplify your funding announcement far beyond a single news story.
A funding announcement is a powerful piece of news. It shows industry financiers have faith in your product or service. It is so easy to waste this piece of news and treat it as just a single story.
A good PR agency will have a team of people who have the skills, experience and contacts to really get momentum going for your campaign. They’ll send out targeted pitches that work in tandem with your press releases to ensure that we’re maximising all the news elements. They’ll bring all the campaign pieces together to work toward your goals, be it – driving traffic to your website, establishing a brand or securing more funding.
How to Choose the Right PR Agency
Ok, so which PR agency is right for me?
Finding the right PR partner is crucial. Do your research and schedule a call to talk things through with promising agencies. Ask about their experience in securing relevant coverage for similar companies.
If you’re ready to explore partnering with a specialist to announce your startup funding, you can schedule a meeting with us by filling in the form below or click here to book a discovery call at a time that suits you.
