How Public Relations is Helping the Startup Economy

How Public Relations is Helping the Startup Economy

Starting a new business on your own is not a simple task. It necessitates not only financial analysis but also operational abilities such as managing finances and knowing about consumer wants. The ongoing initiative of Startup India was launched by the Government of India in 2016. The objective was supposed to boost startup culture and create an environment of entrepreneurship in India. With an increase in momentum in M & A in India, investors are getting more axis opportunities as startups are adopting innovative approaches to attract top talent. In some businesses, there is no need for front-line marketing tactics, which is why most do not consider public relations services. However, hiring the proper PR at the appropriate moment may provide any firm or startup the best results with a modest marketing budget.

Authored Article Attributed to Mr Rajnish Jain Founder of Crossword Public Relation

As a public relations practitioner, we've watched India become more competitive in terms of job creation and revenue generation as the startup economy grows. For example, India has the world's third-largest startup economy, after only China and the United States. Things have altered considerably during the last decade. 44 Indian firms became unicorns in 2018, while the country has over 50,000 startups. There are around 8,900–9,300 of them that are technology-driven. In 2019 alone, 1300 new tech firms were formed, meaning that 2-3 new tech companies are launched every day. The most significant aspect is that the proportion of female entrepreneurs increased from 10% to 14% in the last two years. Technology acquisition, client acquisition, acquire-hiring, and market consolidation are the primary drivers of the rise in M&A of Indian startups. As the momentum in M&A in India grows, investors will have more access to possibilities as firms implement creative techniques to acquire top personnel.

Being in the PR sector, I realise that most founders and startup owners struggle to comprehend how PR works and the PR activity process. In a nutshell, public relations serve as a link between the brand and its target audience. The media coverage that the brand receives assists in communicating with the audience and influencing them in a favorable way for the company. Public relations are also vital in developing relationships and building a brand's reputation. Unlike advertising, where you can control the design and placement of the ad, brand communication through PR is heavily influenced by the relationship you have with the journalist. And certification from industry professionals is required to validate it. When the audience reads the news, they must consider your products and services worth their time, as opposed to an ad that they only skim.

Public relations enable brands and startups to interact with their target audiences on a human level. The public learns about the founder's professional and personal aspects and may relate to the brand directly. Great brands and companies are formed through deepening connections with their target audiences and influencers. What you must remember is that these relationships may make or break your customer, so creating trust is critical. With PR, you may take an inside-out approach to your firm and address problems with your products and services. If you routinely consider and evaluate "what is noteworthy," you will be able to stay current, and if your company is able to do so, your brand will reach new heights.