It’s a dream for any SME or a Start-up to receive recognition for its innovation and be seen as a BRAND, despite being young and starting out. Effective communication, through PR helps translate the vision and goals of the new business, helping them reach out to and engage with the stakeholders, sharing their larger goal and objective.
As a startup, however, most businesses are too pre-occupied with setting up operations, streamlining flow of investment and overlooking efficient services/ product deliveries etc., to have resources – in the form of both time and money, to invest in BRAND building and engaging with stakeholders. While most do not even realize the significance of a great BRAND building campaign, (essential to be embarked on from the very beginning of the business) others, who do realize, struggle with lack of means, contacts or even willing PR professionals who will take up the challenge of introducing a young Brand in the market and building it from scratch.
Challenges faced by START- UP
In the present age, it is seen that there is competition in the worldwide market. Thus, presenting the item in the most ideal way is essential. It is seen that many new businesses and SME’s flop as they are not ready to introduce themselves appropriately. SME’s have asset limitations likewise and they can’t contact the right audience. These companies consider marketing as the last option as it is very costly. PR, with its multifaceted narrative, macro and micro perspective messaging and a holistic 360 degree approach across multi-media platforms, help generate awareness at a relatively lesser cost, with amplified results. Further, being a third party influencer endorsement media, it enhances the credibility of the business, thus creating the foundation for the BRAND.
Brand building and Crisis management
PR is also effective when handling crisis communication. While smaller brands seem to have smaller crisis, for a start-up or a young business, this can spell doom! PR helps brands to deliver innovative, forward thinking thought processes that help navigate complex social and business prejudices, delivering clear, committed and trust-building messages that help portray a solidly moral and professional background of the BRAND custodians, helping thus to arrest damage and in some cases, to even transform a crisis into a profitable situation!
From blogs to social media engagement and presence in traditional media outlets, PR covers all the bases, populating a unified messaging and building BRAND reputation after the crisis, to ensure Business growth is not hindered. While crisis communication is mostly looked upon as an external communication domain, PR is among the few tools that recognizes the significance of an equally robust internal communication. Thus, with effective B2B communications and influencing thought processes within industry peers, PR helps create an aspirational Brand image for the company, indirectly building trust and pride among internal stakeholders for being associated with the BRAND.