Gauging your PR strategy: Identifying Appropriate Goals

Creating a good PR strategy should directly revolve around what you are striving for. It is easy for companies, let alone humans, to lose sight of the forest amongst the trees. Founders or small startups are so focused on what they’re building, fundraising, and building a pipeline that it is easy for them to lose grasp of what’s happening around them.

As someone that has worked in PR and extensively with the media, it is easy for me to understand the dynamics of newsroom coverage and a barometer of what’s news and what isn’t. This is precisely why having a PR-savvy individual on your team, if not an agency, is critical to understanding why PR campaigns unfold a certain way. There is a litany of variables that may affect your PR strategy but I’ve outlined three main areas that should largely drive your PR goals. Or at least help inform the results of your GTM campaign.

Money Makes the World Go ‘Round

Whether we like it or not, our world revolves around money. The more you have, the more you can do. That same principle should be considered in your PR strategy. The higher number, the higher-esteemed publication you can strive for.

Pitching the media is not only about selling a reporter, but their editor. That same editor must determine if the announcement or pitch you’re selling will drive clicks and interest to their website. Therefore, it is important to understand the audience of the publication you’re trying to get placed in.

For instance, with all things being equal, Wall Street Journal or Bloomberg readers are much more interested in a $300 Million deal than a $3 Million deal. Why? Because it is clear the people, company, or tech were able to motivate the market into moving $300 Million. The higher the amount, the more the business implications. That’s news.

A simple search (graphic below) shows what types of stories, and the dollar figures featured therein, show up on top of search results.

PR Strategy: Who’s Involved?

We all know, especially reporters, who Elon Musk and Jeff Bezos is because they’ve built incredible companies and products that have impacted millions of people. Have you? And if you answer that question is “yes,” and you’re reading this, that’s awesome. More than likely, however, you haven’t reached the status of renowned innovator and businessman. And that’s OK, you’ll get there, but right now your name alone won’t drive news or encourage a reporter to read a pitch.

Another route is to amplify someone else that is associated with your deal or announcement. Are you working with investors or capital partners that have a bigger “brand?” Highlighting high-value partners or associates can elevate your PR strategy and provide credibility by association.

Timing is Everything

One of the most frustrating elements in formulating a PR strategy is what you can’t control. Trying to plan for what’s happening in the world is impossible. This is the hardest element to explain to clients. As I write this, we are two months away from a presidential election and a 50 bps rate cut—the first cut in nearly 4 years. If you have made plans to announce your product during a FOMC meeting, you likely won’t get the “carry” of your announcement you wanted. If you happened to send out your release on the day when former President Trump was shot in the ear at a rally, your story isn’t going far. Suffice it to say, a mundane news day is what you’re hoping for.

A good PR strategy should always take account of the calendar when planning your campaign. We’ll look for events like holidays, earnings, the D.C. calendar, the FOMC meetings, etc. While it may be easy to overthink your launch date, proper planning prevents poor performance.

Honorable Mention: Product

In today’s digital/tech world replete with AI SaaS companies, product announcements don’t have the same cache they used to. I’ve spoken with reporters who, are not only inundated with pitches every day, but overwhelmed with product pitches outlining how their product will change the market.

This new environment makes things incredibly difficult to distinguish your product from others. There are some other ways to do this, which I’ll dive deeper in a coming blog, but no longer can the promise of a new product to secure you coverage in your PR strategy.

Setting Appropriate Goals in you PR Strategy

It’s not all doom and gloom. Just because you can’t secure Wall Street Journal doesn’t mean you won’t secure any coverage. This is also where a seasoned PR professional can walk you through attainable PR goals. In today’s digital landscape, there are a litany of outlets the span a range of notoriety. For instance, if you’re an early-stage company announcing a product update, there’s a good chance you can capture industry press. Or, building a campaign around an investment announcement in a second-tier financial publication is a solid result.

Every PR campaign is different, therefore the goals of those campaigns will also be different. In the same vein, the best baseball players will not hit a home run in every at bat. In fact, hitting for average instead of power, is a highly coveted skill in today’s game.

To continue with the baseball metaphors, playing small ball often has the best results. Hitting singles, advancing runners into scoring position, getting timely hits is a mark of a good baseball team. Business leaders need to readjust their expectations for PR and PR strategy—one at bat will not define your company or product and the value of hitting singles outweighs a occasional home run.