When I started my first two companies, I was scared to death about PR. I just had no context since I didn't learn anything about public relations during my MBA. In fact, it just felt like if I happen to get any press, I would be intimidated to say the right thing and be on message.
But when I started cracking the code on PR, I understood what a huge competitive advantage it gave us. As we continued to invest, that lead only got larger.
As an angel investor and someone who advises other startups, I get the question all the time, "When should I start investing in PR?" Since there wasn't a lot of good data points out there, we dove into this area. Here were the top findings:
•$7.5MM was the median revenue when companies started investing in PR.
•26% of companies invested in PR when they were less than $1MM in revenue.
•By $5MM, 46% of companies have invested in PR.
So if you are a Series A or B company, most likely you should have started investing in PR. Also it is likely that out of similar sized competitors, one or more have definitely started leaning into public relations.
As you consider your marketing size and spend, PR can be a huge force multiplier for acquisition, nurture, branding, etc.
Want similar insights on PR? Click here to download the full report "State of PR 2023 for CEOs - Decoding PR Success and ROI."
