Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
business builder public relations
by Joshua Schneck
Are you looking for fresh ways to grow your business? Are you looking for clever ways to reach your customers without pilfering your budget? Do you want to become known as a thought leader, but aren’t sure how to get the word out?
Public relations can boost your bottom line without burning holes in your pocket. A savvy public relations effort needn’t mean additional overhead. Done properly, a small business can reap the benefits of public relations by simply considering the following methods to target prospective customers and raise company visibility.
Celebrate. Celebrate new management, a grand opening, the coming season, a new product line, or whatever reason you can think of, in order to get people in the door. This will identify you with progress, leadership, potential and other positive messages.
Throwing a hosted event doesn’t have to be expensive. If your customers aren’t a wine-and-cheese crowd, go with soda and tortilla chips. Another idea is to think about partnering with companies that complement your business. For example, hosting a practical seminar related to your industry, or domain of expertise, is a win-win for both companies involved. Partnering is an effective way to defray costs and widen your attendee list.
Whatever your function, be sure to invite your existing customers and potential sales targets. If relevant, invite city and state legislators, especially if your business is related to an issue they feel strongly about. Never hesitate to invite local journalists who cover your industry. Even if they can’t make it, they’ll remember your name and appreciate the invitation.
Make friends with the media. Gone are the days of 100-page media lists. Your business is small and your bandwidth is critical. What publications are your customers reading? What publications are you reading?
If your time is limited, develop a list of what you consider top-tier media outlets that reach your audience. Seeing your name in print is worthless unless your customers or prospects are reading it too. By keeping your media lists targeted, you run a higher likelihood of developing quality relationships with the editorial staff. Quality over quantity — it’s that simple.
Press releases do not necessarily equal press coverage and are by no means the best way to work with the media. These days, personal outreach is often more effective for small businesses and less expensive than sending a press release across the wire.
If you have not yet gotten to know the editors and reporters who cover your industry, call or send them an e-mail introducing yourself. Tell them a little about your business and how you got started. Shy away from blast e-mails that don’t include personal, tailored messages.
More often than not, reporters who receive mass e-mails end up sending them straight to the recycle bin.
Something to say?
In addition, if you feel that you have something valuable to say about a broad issue, a local initiative, regional development or recent legislation, send a quick e-mail to the relevant editor. If it directly affects your industry, then it will be important to their readers. Your comments help to add context to stories and publicly voicing your strategic opinion puts you in a leadership position.
Also, there is no news too small for print. Never underestimate the value of positive changes within your company. If you are moving to a larger office, let the relevant editor know as it shows you are stable and growing; likewise for new hires and personnel promotions.
Be seen and be heard. Even if you don’t have any hard news about your company, there are still ways that you can work with your local media and trade groups to build an identity for your business. The media is always looking for new and unique stories. Your expertise may be just what they’re looking for.
Therefore, consider writing a bylined article that exhibits your thought leadership. If you are the foremost authority on ice fishing or offshore banking, bylined articles can be very valuable even if it is not directly related to your primary business.
Get involved
Another way to build your reputation as an expert is to find out what groups your peers and competitors are involved in. Once you have this information, get involved yourself. Attending trade group meetings can provide a clearer picture of your customer’s challenges and give you the opportunity to participate in the discussion.
If your trade group has an annual conference, ask about speaking or sponsorship opportunities. Having your name and logo associated with appropriate and relevant organizations further validates your own business objectives.
Get your customers talking. Relying on word of mouth is less efficient than getting your customers to sing your praises to a wide audience. If you have a standout customer that loves what you have done for them, share that love. Ask them to give you a quote about working with you.
It might even be beneficial to post the quote on your Web site, or in sales collateral, for all prospective customers to see. Third-party validation is the best way to show credibility and it proves you are a valuable player in your industry.
You might also want to consider doing a joint event with your customer highlighting what their need was and how you were able to solve it. Maximize your customer relationships. It’s the most critical piece of your public relations effort.
Read all about it. Even small businesses should think about sending out an e-mail newsletter to existing and prospective customers. It costs almost nothing, and is an excellent way to let customers know about new products, services and relevant business developments. Newsletters are also a platform for offering incentives for referrals or repeat business.
Newsletters should not be entirely focused on your product or service. You can include additional content about a timely issue, tips on how to improve a business process relevant to your customer, or suggestions for local events that would appeal to your audience. Communication is a powerful vehicle for bridging you with your current clients and prospective customers. However, don’t abuse it. Nobody likes being bombarded with e-mails. E-mails should be sent out quarterly, thus giving you time to develop quality content.
Just because you run a small business doesn’t mean you can’t make a big PR splash. Use PR effectively. Sure, it takes some time and effort, but the payoff is real. Besides, if you don’t go after PR opportunities, you can be sure your competitors will.
[contact] Joshua Schneck is CEO of Snow Communications, a public relations firm in Minneapolis: 612.337.0747; js******@*******ow.com; www.cybsersnow.com
