Start-up businesses have to consider how to invest their precious, finite resources. Whether a business owner is considering investing in advertising or marketing, public relations is a factor that is too often neglected.
The answer may be more complex than a simple yes or no. According to Taryn Langer, co-founder of Moxie Communications Group, it depends on whether the start-up is meant to be a B2B (business to business) or B2C (business to client). In this case of B2B, it’s important to consider utilizing public relations to promote outreach with other businesses. “It’s important to build awareness among other businesses and partners you want to reach. That way, when your sales team picks up the phone and starts trying to bring these companies on as clients, they may already know who you are,” writes Langer.
By contrast, with B2C PR becomes a much more complicated affair, at times bordering on the resources available for the start-up. Langer notes, “[Start-up owners] need to be budget conscious in terms of making sure every penny…is well invested in the product and the core operational theme. Without a flawless product, mobile app, or website, no amount of public relations is going to help with converting audience into customers if they do not have an amazing experience using your service or product.”
Regardless, there are general principles that apply to both types of startups. Businesses must be clear regarding what will be the appropriate message to convey in a publuc relations campaign. For most startups, cost saving measures may include hiring a freelancer, having someone volunteer for internship experience or academic credit, or having someone internally take on the role of coordinating public relations efforts. As a business expands, it may be worth contracting a boutique agency.
When considering whether to move forward and invest in public relations initiatives, let Overnite Capital assist your endeavors. Overnite Capital supports various sectors, including and handles factoring lines of credit from $100,000 to $5 million.
Unlike traditional bank lines of credit, that focus on a credit score, factoring focuses on receivables from customers and their ability to pay. Where lines of credit may be denied to companies with high growth curves, factoring is a great option, based on a company’s customer base.
Overnite Capital focuses on helping young entrepreneurs in a manner where the credit score is not the sole indicator of a businesses’ worthiness for funding. For more information, please call us today or message us via the Contact Us tab.