Funding 411: Getting Media Bang for Your Newly Secured Buck

If you’re reading this, chances are you have funding in your future. Congratulations! But before you pop the Series B champagne on a company-wide Zoom call, it’s crucial to ensure your media ducks are in a row.

Funding announcements are your chance to make a big splash. They provide an opportunity to showcase your momentum, growth, and the exciting things to come – to investors, prospects, customers, competitors, employees and more. A strong, media-focused announcement strategy can generate a new level of awareness that sets demand on fire.

To get the job done right, your marketing or communications team must have an amplification plan. Corporate Ink has the media strategy to ensure you’re covered.

Draft a Compelling Press Release for Wire Distribution (3 weeks before announcing)

A strong release is your way of sharing the highlights with a massive audience. However, perfecting messaging, agreeing on how much detail to include, and getting c-suite and investor quotes approved takes time. It’s important to begin drafting as soon as possible.

The release should tell a story bigger than money. What global challenges will this funding help your company solve? How can you communicate the bigger picture in the headline, subheading and first paragraph? Buzzwords like growth and scale don’t differentiate your announcement from the next one. Speak to your buyer’s pain points.

Pro tip: Reverse-engineering your ideal article is a great strategy to keep in mind as you draft your release.

Build a Five-Star Media List (2.5 weeks before announcing)

Creating a thorough media list is one of the most important parts of your media plan. Add reporters from business and trade publications covering your industry’s beat, or venture capital and funding. It’s also a best practice to add your ‘friendlies’ – AKA reporters that have covered you in the past – as well as folks who are covering announcements from competitors.

Be sure to include financial publications (like Pitchbook and Venture Capital Journal). Lastly, insert the editors of the funding newsletters you’d like to be in – such as Fortune’s Term Sheet and Axios’ Pro Rata.

Draft the Pitches (2.5 weeks before announcing)

Create a couple sets of pitches and follow ups for pre-pitching and launch day. Pre-pitches should not include specific details (company name, funding amount, etc.). Rather, they should provide a glimpse into why the funding is important, and how the industry is gaining momentum. Once the reporter accepts the news under embargo, details can be shared.

Both pre-pitches and launch day pitches should be personalized for the reporter’s beat. Create several different versions – for industry reporters, VC/funding reporters, etc. – to ensure you’re tailoring the story to their interests.

Consider offering your pitch deck to key reporters to land a story like this one.

Pre-Pitch the News to Top Targets (2 weeks – 1 day before announcing)

Pre-pitching your release under embargo is a great way to ensure coverage. It gives leading reporters a head start on a story, as well as nurtures your relationship with them.

Determine the best fits for your news at each top-tier publication. Give yourself ample time to pre-pitch. Historically, a few days was more than enough – but in today’s busy marketplace, reporters are requesting as much time as possible.

If five or more reporters accept the embargo and request details, your pitch is effective. Bonus points for interview or commentary requests. If not, it’s a good warning to re-work your approach for launch day.

Manage Announcement Media Madness (Day of announcing through next 10 days)

The big day has arrived! Thirty minutes before your release crosses the wire, give the reporters who accepted your embargo a quick head’s up the news is about to break. Field the internet for the first signs of coverage. Get to work pitching your remaining targets and hit the newsletter editors first.

Over the next week and a half, you’ll be following up, hitting new targets, and managing media requests. Be sure to have a steady flow of communication with your c-suite expert on their availability for incoming interviews. Lastly, don’t forget to flag all coverage and track your media results for reporting.

When it comes to funding announcements, public relations and media outreach is essential to maximize awareness and results. It’s certainly a marathon, not a sprint – and proactive planning is key. Our checklist is an excellent place to start when the exciting funding news first crosses your desk.

If you’re interested in outsourcing the media madness, look no further than Corporate Ink. We have many successful funding announcements under our belts. Learn more about Corporate Ink’s services and what we offer. Don’t hesitate to reach out!