Monday, December 15, 2008

PR campaigns help funding, study shows

A study published in PR Week magazine showed that startup companies utilizing PR campaigns are 30 percent more successful in getting funding within one to three motnhs than those that don’t.

The study was condudcted by Chicago’s BIGfrontier Communications Group.

Forty-four percent of the respondents who used PR outreach received funding in the one-to-three-month time period versus 14% of those that did not. The survey also found that 78% of respondents who said PR helped in their funding efforts are planning to use some of their venture capital for additional PR.

“Those entrepreneurs understand that anything they can do to get them an advantage to get limited or finite funding is something they should avail themselves of, especially now,” said Steve Lundin, founder of BIGfrontier. The boutque firm specializes in PR for startups, tech and consumer companies, and law firms.

Overall, though, the survey found that only 18% of the 300 startups surveyed had a PR program in place during the funding process.

This clearly and starkly underlines the importance of an ongoing PR campaign, especially for small start-ups.

Abbott PR prides itself on working with these small companies - even one-person shops - who don't usually have access to "BIG PR FIRMS."

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