Crowdfunding PR Misconceptions – What public relations is and what it isn’t.
Public Relations is a $68.3 billion dollar industry in the United States. An industry so large naturally lends itself to Crowdfunding PR misconceptions, Public relations is a dynamic communications method which extends far beyond corporate communications like branding into helping to form public policy to crisis management to kickstarting a sales initiative.
Many crowdfunding PR misconceptions can be eliminated just by reading this article in Inc.
We’re not going to stop there. We’re going to take a deep dive into crowdfunding public relations and slay the dragons of disinformation.
Crowdfunding PR misconceptions are first and best curtailed by gaining a full understanding of what publicists do. PR professionals work with individuals, brands, government agencies, corporations, and startups to help build their brands, set the stage for their communications, and promote their agenda to the public.
Every crowdfunding launch plan must incorporate crowdfunding public relations into the game plan. Organic marketing and communications plans are increasingly coming into focus as the paid advertising landscape is looking more and more like Death Valley.
An aggressive public relations strategy must be top of mind as executives and entrepreneurs plan their crowdfunding campaign.
Here are the most common crowdfunding PR misconceptions. Consider these lines of thinking as it pertains to what crowdfunding public relations does and doesn’t accomplish.
Myth #1: Crowdfunding PR will automatically raise more money
Reality: While PR supports and works hand-in-hand with sales and marketing, the purpose of PR is to create brand and product awareness; grow consumer and customer loyalty, as well as communicate and share a company’s vision and mission to the public. We might generate a lot of public interest in your crowdfunding campaign and bring the crowds to your deal but that’s not the end of the story.
Myth #2: PR is a luxury not a necessity
Reality: PR is essential to ensure proper public awareness, positioning and vision. If you’re running an equity crowdfunding campaign, it’s crucial that all messaging and outbound communications are handled by a seasoned professional. Our people will work in conjunction with your legal team, marketing department, and senior management to ensure messaging is SEC compliant while being both accurate and engaging.
Myth#3: Isn’t PR just for spinning a crisis?
Reality: Crisis management is certainly a part of what publicists do when necessary. However, PR should be an ongoing activity building up your good public profile and ready to stomp pout the fires if things go wrong. If a company waits until there is a shit storm to hire a PR firm, crisis management is much more difficult – and expensive. The fact is, if companies keep a PR firm on retainer, most major crises’ can be avoided in the first place.
Myth#4: PR is “Fun and Exciting”
Reality: Sometimes but not always. Put aside any visions of a liquid lunch or posh dinner in Manhattan or Beverly Hills. The powerful publicist hobnobbing with the respected reporter is Hollywood hooey.
PR has high points of fun and frivolity, sure, but that only happens after diligent hard work over a prolonged period of time. According to CareerCast’s 2019 list of the most stressful jobs in America, publicists are in the top 10. Lucky us! Stressors like deadlines and client expectations can feel overwhelming at times leading to the cliche of the PR executive with the bottle of bourbon in their top desk drawer.
Myth#5: It is easy to handle my own PR; it’s just sending out press releases right?
Reality: WRONG! Are you a skilled copywriter who knows exactly how to hook the media? Do you seriously think a $99 news release service gets the job done? Do you have all the right contacts in all the right journalist circles? We’ve talked about DIY crowdfunding promotion before. Crowdfunding public relations consists of non-stop editorial pitching, messaging documents, managing social media, working with collaborators/influencers and more. This is a big job and serious results take time, patience, and consistency only a professional can deliver.