Today you’ll learn how to generate press coverage of a funding announcement for your B2B tech company.
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10 Ways to Get Your Funding Announcement Covered
When B2B tech companies make a funding announcement, they usually don’t get all the media coverage they should. Most of the time, a marketer or PR agency secures one story about a newly closed funding round in a sought-after publication like TechCrunch or VentureBeat, then it’s radio silence. Did you know a funding round is also likely to be covered in regional publications and trade magazines?
Barriers to Media Coverage
Since startups make funding announcements every day, reporters aren’t covering just any capital announcements anymore. They can pick and choose which news to write about. Therefore, your news has to be delivered the right way — the first time — to cut through the noise.
Keep in mind, weeks after you inform journalists about your funding news, you should follow up milestone announcements like these with stories that showcase your company’s momentum. Don’t worry, I’ll tell you what to do.
But first, let’s get something out of the way. If you’re considering a funding announcement press release, know that it plays a small part in a PR campaign strategy. Additionally, a press release is not totally necessary. I kid you not. The 8-14 hours that usually go into developing and pitching press releases are usually better off used for something else. I’ll give you a secret: a well-written blog post with substance can replace a press release.
Here are 10 ways to upgrade your funding announcement strategy:
1. Share the funding amount and valuation. Why would a reporter write about funding without numbers?
2. Timing: Avoid announcing your funding round during an industry event (it’ll get buried)
3. Tie yourself to a current narrative or trend
4. Be prepared: Add 1-2 executive and investor quotes to your media pitches (use this media pitch template)
5. Do not add the hiring of executive hires (save that for another time to keep a steady drumbeat of news)
6. Email customers before the announcement explaining how the money benefits them now and in the future
7. Ask the VC firm to publish an article to their site, personal LinkedIn accounts of execs, Medium, or Substack that relays the importance to the industry
8. Share the news with regional media but don’t use a dull funding announcement template; get creative
9. Tell your investors about the announcement about two weeks out + arm them with social media-friendly graphics
10. Inform journalists 14-plus business days in advance (they’ll pen a better story and respect you)
After you’ve followed up on your media pitch (two emails are plenty), send ‘momentum signals’ to media such as customer success stories (CSS) or highlight recent wins/accolades/awards. Let the news about your funding “breathe” but don’t wait long.
When it comes to the number of media pitches you should write, that depends on which vertical you are in, but consider at least three pitches that work for multiple media outlets. For example, write a personalized pitch for VC publications and another for trade publications that cover your industry.
Remember that a funding announcement can be the first plank of a bridge to extend your company news and land more stories. You now have a better plan to get more media coverage on your funding announcement, but please reach out to me with any questions.
Lastly, respect every reporter you write to by personalizing your emails.