1. Recruiting – It is 10x easier [to recruit ]when qualified candidates whom you may not even know read about your company and are excited by your vision.
2. Business Development – Every major company you meet is trying to size you up as to whether it’s worth their time striking a deal with you. Then they read about you and think to themselves, “we should really reach out to that company.”
3. Fund Raising – Great PR could add $10 million to your valuation or increase your chances of closing a round 2x. It’s much hard to get funded as a company nobody has heard of.
4. Staff Morale – I once asked somebody at Accenture (where I worked early in my career) why they advertised so much at airports. The reply was, “So many of our employees fly every week to projects and by seeing us advertised every time they fly they feel more proud working for our organization.”
5. Enterprise Sales – The very first thing a potential customer does when you email or call to set up a meeting is Google you.
6. Future PR – Press loves company as much as they love exclusivity. Ironic, of course. But true.
7. M&A – Everybody reads the press – even those who one day can make you very wealthy by deciding to buy your company.
8. Customer Acquisition – Every single company I talked to thinks this is the reason to do PR and often it is the least important reason.