Serving both private and public companies, Sarah Mawji owns Final Edit Media and PR. Connect with her on LinkedIn.
Joining a firm years ago provided a unique opportunity to help the company raise its profile and land a capital injection, a strategic investment that would allow it to grow and eventually be acquired. The firm had minimal presence in its market but it had strong and definitive company goals that could be used as markers for a set of brand awareness campaigns and carried out over a few years. However, more often than not, executive leadership would get in its own way—demanding course “corrections” and discarding news that mattered as not shiny and flashy enough. And who’s to blame them? Giving up the reins is uncomfortable. The saving grace was those business goals that had been iron-branded into the company from day one. Being able to continuously point back to them allowed for forward-moving momentum.
How To Create Strong Business Goals
What proved to demonstrate the most value over years of continuous efforts dedicated to raising the company’s profile were those business goals. They were SMART goals with timelines and specific numbers, and each year, when revisited, they put fire under the seats of every executive leader.
The lesson? If your business goals do not put fire under seats, scrap them. Start over and put together achievable ones that create effective urgency. Lay a road map out for every pillar of the organization and make sure you’re clear about what you hope to achieve.
Of course, once you’ve created a road map, you need to stay the course. Arguably, over 90% of new companies get lost in instant gratification. And instantaneous results. There tends to be a belief that because growing a social following is the most cost-effective way for new companies to demonstrate growth, it is the best way. But focusing on this, and this alone, can cost the future of your business.
How To Get Buy-In From Your Stakeholders
The road to investment has many twists and turns. The key here is to eliminate work that doesn’t result in impact.
1. Focus less on metrics.
Metrics are important, but it’s easy to get lost in the data, and half the time nobody understands them. Take organic click rate, for example. An increase in organic click rate on content takes time. Over three quarters, expect to see this number move if you are putting out content, AB testing and diversifying. Check back at least once a quarter, but until then, “set it and forget it,” as a line item. Instead, concentrate on external-facing activities like gaining traction and attention in the public eye.
2. Recognize that brand awareness takes time.
Brand awareness also takes time, and for this reason, it should always be kept top of mind. One-off brand awareness campaigns do little over the long term, and if your company plans on being around for the long haul, then invest in activity that will support this type of growth and existence.
Marketing and public relations both play a role here, but the objectives are different. Marketing and sales teams work closely together because marketing often produces what a sales team needs to sell. PR, on the other hand, focuses on generating credibility, building a company’s reputation and connecting with key audiences in ways that a company can’t buy.
3. Celebrate the small wins that can have a ripple effect.
A simple mention in even the smallest of publications can lead to company buy-in from your industry, from the public and eventually from investors. On the flip side, one small quote in a big publication can have game-changing power over the trajectory of your company.
To get that small quote or big mention, the background preparation is no short of what’s required for a marathon. Give your PR team what they need to curate pitches to make this happen, and let them remain in the driver’s seat. The media world is so nuanced, and it’s important to hold appropriate decorum when engaging.
If you want to help your PR team, don’t offer them self-serving information. Pitches that lead to success offer external audiences valuable insight that benefits them, not your company. This seems counter-intuitive, but there’s no way to get in with your audience without putting them first. And trust me when I say, the ROI is undeniable.
Proof Of Investment
Fear of the unknown is an easy sway away from success, but look at all the proof this year alone has to offer. In 2023, we saw several lux acquisitions: Rolex bought Bucherer, the world’s biggest watch retailer; Tapestry acquired Capri Holdings; LVMH bought Tiffany & Co. These brands fall into the upper echelons of the business world. And guess how they grew and why they partnered with one another? Brand value and brand awareness.
That said, the investment offer that eventually came to that first firm was by no means a direct result of brand awareness alone. It can never be. What it did was put the company on the map. It became recognized in its market, and the coverage the company garnered towered over its competitors. It gave the company social proof and non-owned, non-paid mediums to discuss its expansion plans, culture, executive team and operational value. Most importantly, it led to company growth and buy-ins from across the country. ROI was being seen, traction was being made. When it came time to sign the dotted line, all of this was leveraged. The firm remained intact and got everything it hoped for.
Earned media, active public participation (events, webinars, panels, local community efforts) and thought leadership (non-self-serving news) changed the game for this company. These were things the company had never done and initially didn’t quite understand, but now, they could see third-party validation had made so much noise, it was what they needed all along. Sarah Mawji owns Final Edit Media and PR, specializing in ap style press release and serving both private and public companies. Connect with her on LinkedIn.
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