PR Speeds up Start-Up’s Funding Chances
November 20, 2008 by Colleen Coplick
Filed under Social Media
BIGfrontier Communications Group in Chicago just released the results of their recent study about whether or not PR can help a start up get funding faster than if they don’t engage in a PR campaign. Apparently, companies are 30% more successful in getting funding within 1-3 months than their counterparts who don’t look at PR.
“Those entrepreneurs understand that anything they can do to get them an advantage to get limited or finite funding is something they should avail themselves of, especially now,” said Steve Lundin, founder of BIGfrontier. The boutque firm specializes in PR for startups, tech and consumer companies, and law firms. [source]
The study spoke with 300 start ups, none of which were BIGfrontier clients (which was my first thought, so I was glad to hear that they weren’t talking to their own clients), and only 18% of them even had a PR in place during the funding process.
Overall, this doesn’t surprise me in the least, and certainly was a bit of a no brainer. Companies can only be helped by a positive PR campaign.
I’m in complete agreement with the study, not that this should surprise anyone, but I’m a firm believer that PR and social media strategies are two of the best ways to get your company noticed, to raise it’s profile in certain communities and among specific stakeholders. Why would you even consider not engaging in a PR campaign?
