Research by Motim showed that 95% of innovation brands are looking for visibility
Increase brand visibility and authority in the market. This will be the direction of most startups in 2024, according to the 1st National Survey on the Impact of Public Relations on the Innovation Market, carried out by Motim.
According to the research, 73% of innovation companies should maintain or increase their investments in institutional reputation in the next year.
The survey considered innovation companies at three different stages, such as those that are at the beginning of their operations; companies in the market expansion stage and unicorns, consolidated companies worth more than 1 billion dollars that should increase investment in public relations, with 72% of the intention.
Furthermore, the research reveals that the marketing budget of these brands is directed towards PR and reputation strategies should represent 20% next year.
Looking at the scope of public relations, the study showed that 95% of innovation brands are looking for greater visibility, followed by brand credibility (84%) and acquisition of new customers (67%). However, credibility of their leadership, improving relations with investors and crisis management were also mentioned by the executives interviewed, being the objective of 48%, 31% and 29% of these companies, respectively.
“The latest movements that have affected companies in the new economy have forced the understanding of many managers that building brands does not just mean selling desperately. Professionals who previously understood the complexity and importance of consolidating disruptive ideas, making them common, present much better results Fortunately, this understanding is starting to come to life in the ecosystem in general”, said Silas Colombo, founder and CCO of MOTIM.
The survey also showed a tendency towards little assertiveness in investments in reputation and public relations for 10% of innovation companies, with 70% of these companies, which considered themselves dissatisfied with their PR strategies, allocating less than 10% of the marketing budget in the segment and 69% are betting on short-term results. Furthermore, only 53% use PR strategies that go beyond press relations.
On the other hand, the innovation companies that are most satisfied are those that allocate more resources to public relations, with 46% of them investing more than 10% of their marketing budget in PR, with 26% investing more than 20% of their budget.
According to the analysis, 67% of these companies understand the strategy beyond the press office, creating relevant narratives with influencers (59%), at events (79%) and with their leaders, mostly via LinkedIn (63%).
“The rush for sales has allowed many brands to bet on magical growth formulas. This has left a negative stigma about the real impact of investment in public relations and overall reputation. As this communication tool is part of a complete brand-building ecosystem , it couldn’t really move the needle on a business alone. Apparently, this perception has been gradually changing as managers understand their strategic place in the macro marketing scenario”, added Colombo.
The 1st National Survey on the Impact of Public Relations on the Innovation Market heard communication managers from the 100 main innovation companies in Brazil, including startups, publicly traded companies and companies already consolidated in the market.
