PR proves crucial to start up success
May 2005
Roundtable debate concludes PR is essential when starting up
London, 12th May, 2005 - Start up companies need to place greater emphasis on PR plans, warned start up experts at a roundtable debate held last week by Chameleon PR, the IT PR specialist. The consensus of opinion was that start up companies looking to break new markets, are generally too inward-thinking and product focused and neglect to consider their target audience.
The debate, which examined the value of PR within start up organisations, hosted a panel of industry experts. These included venture capitalist providers and experienced marketers from both start ups and established organisations.
The participants felt that during the dot.com era, too many companies burnt money by often marketing products that weren't in existence. Today, many new businesses show real passion for innovative technology, but neglect the need to focus on a market and the need for strategic campaigns. The panel warned that a balance is needed, as too many companies vanish as quickly as they start out by not targeting their audience efficiently.
Helen Holland, managing director of Chameleon PR said "Business objectives should drive PR strategy, with the two being inextricably linked. Start ups need to keep reviewing their marketing plan to ensure they fully integrate with the aims and objectives of the business. Then they need to stick to it."
Diana Nye, executive-in-residence at Ariadne Capital, a leading global investment and advisory firm, believes that "PR is certainly an important part of the marketing mix. If the company needs first mover advantage, then it's going to be essential".
The panel concluded that PR was fundamental to start up success and should be included into the business development process from the beginning. The ideal time to kick off PR campaigns often depended on the type of product, but PR was seen as an essential tool to stand out in a competitive marketplace.
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