Posts Tagged ‘startups’

Preparing Your Startup for Media Interviews: the Do’s and Don’ts

March 22, 2013

Successful entrepreneurs are known for being risk-takers, putting both their money and reputation on the line to launch a new product or service, often in a competitive or nascent market. Some psychologists suggest that entrepreneurs’ brains are hard-wired to take risks—they live for the dopamine high associated with standing on the edge of a tall cliff (or business deal).

It’s not surprising then that many entrepreneurs get an emotional charge when they are put in the spotlight to talk about their businesses with media. While risk-taking may pay off in certain situations, a media interview is not one of them.  Without careful planning, an interview can result in a wasted opportunity for good exposure, or worse, it can make your company the butt of “funny headline” jokes on the Tonight Show. Here is a list of do’s and don’ts to help you make the best of your interview opportunities:

Do’s:

  • Research the Reporter: Before every interview, you or your PR advisor should research the reporter to determine what he or she has already written about and what the tone of their reporting is like (e.g. investigative, light-hearted, opinionated, etc.)
  • Develop Talking Points:  Always solicit a list of potential questions from the reporter prior to the interview. With few exceptions, reporters will usually share some initial questions, because it makes their job easier when the interviewee is already prepared with important information. These questions should be used to develop talking points to help you steer the conversation in the right direction. The talking points should also include additional questions that could come up, especially the sticky ones.
  • Practice: If this is the first time you have been interviewed on a particular topic, or if there have been significant changes to your messaging since the last interview, squeeze in a little rehearsal time. This is particularly important when interviewing with reporters that have a reputation for being critical or when the format of the interview is broadcast, where a bad 10-second sound bite can spoil an otherwise spotless performance. If you have a PR advisor, make sure they provide you with media training.
  • Follow Up: There are times when you may do all the right things to prepare for an interview, only to find that a story is not produced or that the interview is edited out of the story. Sometimes this is unavoidable, such as when the story has to be trimmed to meet a specific word count or when the reporter quashes the story to make space for another pressing news item.  But other times it can be prevented with proper follow up. When following up, reiterate any points you want to make clear to the reporter and ask if he or she has follow up questions. Also consider sending them references to additional sources, including other potential interviewees, that could support the development of the story.

Homer Simpson

Don’ts:

  • Go Off the Record: The words “off the record” go against the grain of journalistic integrity, and, perhaps more importantly, the basic interest of the reporter in publishing a compelling story. Always assume anything you say is fair game.
  • Respond with “No Comment”: Reporters usually interpret this as stonewalling, and readers will likely think it means you have something to hide. There are situations when it is in your best interest to stay mum, such as when being questioned about sensitive financial or legal information or information that could reveal too much to your competition. In these situations, provide as much information as you feel is safe, and simply explain that you can’t go into any additional details at that time. This is also a good opportunity to bridge the conversation to a different, but relevant, topic that you really want to talk about.
  • Use Jargon: Reporters strive to make their stories as accessible as possible for their audiences. With the exception of trade or special interest media, where highly technical information may be required, you should stay away from industry jargon and try to simplify complex ideas into comprehensible points. Sometimes using metaphors can be a good way to explain an intricate point, but when a metaphor won’t do, you should have a succinct and lucid description at the ready.
  • Talk About a Competitor: This is another one where there are exceptions, but in general, you should let your competitors do their own talking. The two big risks here are that you may unintentionally build awareness for the wrong team, and perhaps more importantly, if you get your facts wrong, you may find your company getting slapped with a lawsuit.

Jacob Seal

Advertisements

Calling All Baby Boomers: It’s Time to Embrace Inbound Marketing

March 5, 2013

Despite our cultural obsession with baby geniuses—college students who launch tech companies right out of their dormitories—the fact is that baby boomers are now behind a large proportion of startups, and are becoming more entrepreneurial than ever before.Baby Boomer Marketing

According to the Bureau of Labor statistics, the self-employment rate for adults over 54 is 16.4 percent, and research by the Kauffman Foundation suggests that entrepreneurship among this group will continue to surge. Some boomers are launching startups to bolster their retirement nest eggs. Others simply don’t want to retire yet—they are passionate about what they do and want to leverage their years of experience to grow their own enterprises.

To successfully market their ideas, baby boomer entrepreneurs will need to look beyond the traditional marketing strategies they grew up with, such as print and broadcast advertising, direct mail and telemarketing. These methods can still work to generate business, but from a consumer’s perspective, they represent unwanted interruptions, and often are not tailored to the individual’s unique needs. And from a business perspective, these strategies usually require a significant investment.

In recent years, the Internet has enabled an alternative approach, in which a business creates content to attract visitors to its website and collect information from the visitors that will allow the company to tailor its marketing to various types of people to convert visitors into customers. This approach is referred to as inbound marketing. If you’re not a marketing guru, this may be a new concept, but don’t let the jargon scare you. Inbound marketing isn’t complicated: if you have a website, then you’ve already started the journey. Here are the 3 stages of inbound marketing.

1.      Get Found

The first step of inbound marketing is attracting visitors to your site. Here are some proven ways to do it:

Search Engine Optimization SEO:   Many customers start the buying process at a search engine, so your site should be listed as prominently as possible. At a minimum, you should regularly analyze and edit your content to make sure you’re using appropriate keywords.

Blogging:  The best way to attract new visitors to your site is by publishing a blog that provides relevant and credible information. Companies that blog get 55% more leads than those that don’t.

Social Media:  When people go online, they’re interacting with friends and sharing content on social media. These sites provide a great opportunity to expand visibility of your company and drive more visitors to your site.

Content Marketing: In addition to publishing a blog, think about creating other content, such as white papers, webinars and videos that provide valuable information to attract visitors.

2.      Convert Your Visitors

As you start attracting visitors to your website, your goal obviously will be to convert them into paying customers. Here are a few ideas:

Calls to Action: When you develop new content for your site, you’ll need to create a call to action that encourages the visitors to act (e.g. “Download the Whitepaper”). Other possible calls to action could be “Request a Consultation” or “Get Product Sample.” The offer you’re making must fulfill the needs of your visitors for the call to action to work.

Landing Pages:  When website visitors click on a call to action, they should be sent to a landing page. This is where prospects submit information about themselves, which will help you determine whether they are a good sales lead or not..

Email Marketing: You will get many leads that aren’t immediately converted into customers. One effective way to nurture a longer-term relationship with these people  is through a series of emails providing content targeted to their interests.

3.      Analyze

You should measure outcomes at every stage of your marketing strategy to figure out ways to make it more efficient and determine the return on your time and investment In addition to looking at common metrics, such as number of unique visitors, page visits and click-through, you should also monitor:

Conversion Rates: The percentage of people who convert from visitors to leads or from leads to customers.

Benchmarks: Benchmarks are data used to measure your marketing performance against peers. For example, conversion rate benchmarks allow you to see how your own conversion rates compare to those of similar companies.

Content Performance: You want to see how well each type of content you produce is attracting people to your website so you can get better and better at providing content that works for you.

Jacob Seal

Learn more about inbound marketing – download our free e-book:
     

347 Days Left for Entrepreneurs’ 2013 Business Resolutions

January 18, 2013

Making New Year’s resolutions is a tradition that has increased in popularity (in the United States, at least) over the years. According to Wikipedia, about 25 percent of American adults set New Year’s resolutions during the Great Depression. That number had increased to 40 percent by the turn of the millennium.  The tradition has a very old history. The ancient Babylonians promised their gods at the beginning of each year that they would pay their debts and retuThere's still time to  make 2013 business resolutions.rn whatever they had borrowed, and, similarly, the Romans made promises to the god Janus (for whom January is named).

There’s still time to make 2013 business resolutions.

Setting goals helps most people to make changes in behavior and move ahead. This is as true in business as it is in our personal lives. I try to set New Year’s resolutions for Bridge Global Strategies every year.  My business goal for 2013 is to invest both time and budget on new sales and marketing techniques to stimulate faster growth (and my personal goal is to lose 20 pounds!).

I asked a few entrepreneurs to share their New Year’s resolutions for their companies with the readers of Bridgebuzz. Ron Dizy, president and CEO of Toronto-based green technology company Enbala, said his resolution was to “start each day thinking about the best way to have the biggest impact on the most important part of our business.” I asked him what he considered the most important part of his business (Enbala operates a Smart Grid platform that helps shift power use on the grid by controlling the industrial equipment of large electricity users, paying the users to participate – a less expensive alternative to expensive electric grid power storage.)  Ron answered, “That changes through the year, depending on what is most pressing. It might be load (client) engagement, it might be utility business development, it might be regulatory affairs, it might be a personnel issue. I guess the point of my resolution is to think about what thing or action would have the biggest impact on the business … And do that TODAY!”

Carol-Davis Grossman, managing partner of New Jersey- based events company The Charles Group , said that she and her partner, Susan Dunkelman have several resolutions for 2013: “Expand our client base by better leveraging our reputation with our existing clients; increase our company’s online presence; and focus our business development efforts on target markets we identified last year.”

Gary Palermo, managing director of Palazzo Investment Bankers, a  boutique investment bank focused on marketing, interactive, digital, information and new media companies, explained that his business resolutions involved separating business from family life. “My goal is to work even harder than the past year, while spending more time with my family. Sound impossible? Maybe … but while I continue dedicating time to business growth and clients (my other family) as a singular focus throughout my work day, when I’m with my family, I want to spend the time to actually remain focused on staying engaged with them. The idea is to not cross the time, event or moment with work-related thoughts while with my family. Work-life balance? Yes, indeed! I am aiming high this year!”

For C. Filipe Medeiros, founder and CTO of online company Ancientfaces.com,  the  most important resolution for 2013 for his company is becoming increasingly focused on identifying and solving the problems of the site’s users. “When you have a site with as much data and as many users as AncientFaces, nailing that down can be a huge challenge,” Filipe said.

Benton Morgan, co-founder and managing partner of Jet Partners, says his resolution is, “To always innovate. Never get comfortable with my normal routine. Find a way to make daily tasks more efficient. The easy way is not a option!”

Most people agree that stating a goal publicly makes it more likely that you’ll reach it. I know this is true for dieting. I believe it’s true for business goals as well. So, dear readers, please feel free to proclaim your New Year’s resolutions here. It’s not too late – we have 347 days left this year!

Lucy Siegel

Learn more about Bridge Global Strategies’ services for startups here: http://slidesha.re/XkGbit

Don’t Make These Five Start-up PR Mistakes

December 20, 2011

Over many years of providing PR services to start-up companies, I’ve noticed a lot of the same very basic marketing and communications mistakes being made by one start-up after another:

1)      The goals for PR are unrealistic. Start-ups (and others) sometimes expect PR to sell their products. Public relations is not a direct sales tool. It can create awareness, educate the target audience about new technologies or solutions, build positive buzz, win over influencers, develop credibility and build relationships with potential customers. It can lead the potential customer to the company’s website or store or telephone sales force. These are not insignificant accomplishments; they are necessary steps along the way towards sales. But PR can’t always deliver sales leads. (You can lead a horse to water but you can’t make him drink.)

2)      The company’s founders don’t think they need PR (or marketing) because the products are so great they’ll sell themselves.  This relates to #1 above. It’s the “build it and they will come” philosophy that usually only works in a field of dreams! PR isn’t  a sales tool, but the PR and marketing are steps towards sales that can’t be skipped. Even if the products are as great as the founders think, there must be a process to let people know about them.

3)      The target audience is ill-defined or undefined. Sometimes when we talk to start-up executives about who they are targeting with their new products or services, the answer we get is, “Everyone. Everyone needs [or can use, or will like] this.”  This is a serious mistake and marketing problem. There are important reasons to identify the target audience, consisting of those who are most likely to buy. It is more cost and time-efficient to focus on that segment of the population than to try to appeal to everyone. Even big companies with brands like Coke, McDonalds, the iPhone and Victoria’s Secret have target customers and aim their marketing towards them very specifically. There’s a good reason why you don’t see iPhone reviews orVictoria’s Secret ads in magazines published for senior citizens. It’s imperative to do research to determine the best target audience.

4)   There are  no key communications messages chosen to be communicated.  What do you want your target customer to know and think about the product? Unfortunately the answer we sometimes get to this question is a very long, complex litany of attributes, facts and figures. It’s very difficult if not impossible to get across long and complex series of messages. We work with our clients to identify three or four of the most compelling messages and to repeat these over and over until they are well-communicated.

5)      The company expects splashy media coverage just because it (or its product) is being launched. If there’s not much new or different to offer, when there is no important differentiation from competitors, there’s no news. If there’s no news, there’s no compelling reason for media coverage. We can offer the media interviews with company executives to discuss industry trends or current events, and the resulting media mentions help the company build credibility and visibility. But we can’t deliver a lot of coverage about a company and its products if there’s nothing new or different about them.

Most entrepreneurs don’t come from marketing or communications backgrounds, never had to be proficient in those areas and are not natural-born communicators. We’re there to help, by advising and educating. With a good, well-differentiated product, some education about the basics of marketing and PR – and a little luck – a small start-up can take giant strides in establishing itself.

Lucy Siegel

R ead my e-book: “Public Relations Around the Globe: A Window on International Business Culture”


%d bloggers like this: