Building brand trust: Startups’ misconceptions when dealing with PR firms

Credibility and trust are two strong pillars that uphold the foundation of public relations. For years, the PR industry has been the most preferred route for a company or brand to establish and build credibility, be it with their consumers, employees, or the public. This extends to the relationship a PR agency shares with its clients and also with the media.

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However, there are a few misconceptions about the role of PR firms, how they operate, and how they deal with other stakeholders.

Rushed fundraising announcements

In general, startups begin to seek publicity when they want to announce a fundraise, as founders often believe that raising money sets the momentum for building credibility and creating visibility for their firm in the public eye.

But this frequently translates into mandates that are no less than panic calls directed at PR firms. The startup’s team expects an announcement to be made within hours, and founders fail to see that a good PR exercise requires diligent planning and correct timing.

We have often had to turn down such requests because they start our relationship with the company on the wrong foot.

Unknown entities

Another common issue is the expectations of a startup’s leaders.

A recent chat I had with a founder was all about which media platform will cover their early-stage fundraising news and the size of the story. But what the founder failed to realize was that their firm was an unknown entity in the eyes of the media. So how could there be extensive coverage?

Such announcements are only the start of a brand-building journey for a firm.

Startups vs. corporations

For a consumer to trust a brand or service requires years of convincing and visibility, which translates into brand trust.

As an example, I would rather invest in a financial product offered to me by the relationship manager of my bank than a young firm that wants me to invest some of my hard-earned savings. The simple reason is brand trust.

From a PR firm’s perspective, working with these early-stage firms is like being an early risk-taker. We base our decision on the founders we meet and the conviction they demonstrate as well as the potential of the idea, which may still be very nascent.

This is in vast contrast to how PR firms work with well-established corporations. These companies have taken years to build credibility, and everything does not rest on one person.

When we are invited to the pitch of any potential corporate client/brand, for example, we are often given a brief with clear deliverables and key performance indicators. In the case of startups, it often happens over many cuppas with the founder.

A misconception about the media