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AppWorks Communications Master: Regarding PR strategy, which comes first -- Press release, owned media, or product market fit?
In this article, Antony Lee, the Communications Master of AppWorks, is going to point out some common myths about media relations that startups have. Then, offer tips on effective startup PR strategy.
In 2011, Business Next launched Meet Startup as the communication platform for digital innovation and entrepreneurship. Meet Global collaborates with AppWorks, one of the largest accelerators in Taiwan with a strong founder community in Greater Southeast Asia, to publish a series of articles aiming to make the journey of starting a business in Taiwan smoother and easier.
Since 2012, AppWorks Masters Team has been helping to navigate startups through the competitive world of the business jungle, helping startups survive and stand out.
In this article, Antony Lee, the Communications Master of AppWorks, is going to point out some common myths about media relations that startups have. Then, offer tips on effective startup PR strategy.
Antony has been in the field of media for more than 20 years. He was one of the first-wave Taiwanese internet industry journalists in 2000, and later became the deputy editor in chief for Taiwanese media companies Business Next Magazine. He specializes in advising startups on public, media relations, and communications matters.
From a first-wave tech reporter to a startup media communication consultant
Being a reporter specializing in digital technologies and business, he always keeps a keen eye on emerging trends and revolutionary inventions. After he witnessed disruptive innovations such as Uber and Airbnb, he realized that an enormous shift in social fabrics has come, and perhaps he should step out of the media industry and fully experience the transformation. Finally in 2015, he decided to not be a third-party reporter anymore and joined AppWorks in 2018. He was eager to get his hands dirty.
“Honestly speaking, it was quite disappointing to see Taiwan missing the wave of the booming Mobile Internet economy. We had a good start for Internet, we even had startups managing portal sites, e-commerce, search engine, and online forums far back in the late 1990s. But after the dot-com bubble, we just totally missed mobile internet,” said Antony.
That is another reason why Antony decided to join AppWorks. AppWorks wishes to foster the next generation of entrepreneurs in Greater Southeast Asia, and Antony hopes that by leveraging his expertise in media and digital technologies, startups in Taiwan may regain the lost ground in the internet industry.
A press release is not a free advertising tool.
“When startups need media exposure, they should talk to the sales department. A press release is not a free advertising tool.”
He explained that journalists get dozens of press releases every day. Unless the content is useful to the audience, journalists will not publish them. What’s worse, startups may even be put on the black list. Worst of all, if the press release did get published and startups decided to pivot later on, the report would be a source of misinformation about their businesses.
“Startups come to me when they are drafting a press release. For a lot of them, I tell them to stop wasting their efforts.”
However, before writing a press release, there is one fundamental value to consider first.
“Startups have to concentrate their limited resources. Before finding the Product Market Fit (PMF), they should not think about recruitment, or marketing, or PR. Even if customers see you, you are not going to retain them without a solid Product Market Fit.”
Make sure you have found your Product Market Fit before your first press release.
Product Market Fit is the key to thriving in the startup world. Marc Andreessen, the cofounder at the world-famous silicon valley venture capital firm Andreessen Horowitz (a16z), coined the term and defined it as “being in a good market with a product that can satisfy that market.”
Abstract as it sounds, Antony provides some scenarios. For example, when customers are purchasing more than you can deliver in time, when your original AWS plan can no longer support your data usage, or when CEOs are turning into a customer service staff because the line is always busy, etc. Startups can undoubtedly feel it once they successfully find their PMFs.
After finding the PMF, startups may consider issuing a press release when they have news worth sharing. Always remember that quality is better than quantity. Having one piece of high-quality, widespread media exposure in one or two years can be good enough.
In addition, it is recommended to issue a press release after closing a funding round. It implies that this company has won the favor of some professional venture capitalists, adding its credibility and significance.
Bottom line: Build your owned media.
Nowadays, due to the rise of owned media, startups no longer have to spend big money on paid media channels to reach their target audience. In order to increase exposure and drive engagement, no matter you are a B2B or B2C business, building your owned media is crucial.
Antony suggests that any startup should have a clear, easy-to-understand “About Us” section. A straightforward company profile is a must. After that, startups can try to create content by blogging on their websites or social channels like LinkedIn and Medium.
“Once a startup founder came to me, complaining that during the interview, journalists didn’t know what his company was about. Then I asked him ‘What have you done to help people know you more?’ If people couldn’t find you on the first two pages of Google search results, yourself is the one to blame. ”
The aforementioned are just the basics. A more advanced PR strategy is to create useful content, such as seasonal reports, industry insight, and trend analysis. Media publications love them because first, they are informative, and second, they come in handy.
For instance, the Taiwanese F&B POS system startup iCHEF has set a good example. On their website blog, they publish quarterly reports about themselves and conduct annual research on the F&B industry regularly. This April, after they published “White Paper on 2020 Taiwanese F&B Industry,” prominent media publications in Taiwan include Business Next, United Daily News, Commercial Times, and more all covered the news.
Some startups come to Taiwan for the opportunities to collaborate with big manufacturing companies, such as TSMC or Wistron. For these B2B startups, they might not need media exposure to the public. However, do work on producing high-quality case studies regarding successful clients. They are a good chance to leave good impressions for enterprises with the same request or problem, which paves the way for further partnership opportunities.
“The best PR strategy occurs not when you issue a press release to journalists, but when journalists come to you naturally on certain topics,” Antony concluded.
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