Short version: PR is a nice-to-have, not a need-to-have. It can send a raise to another level, but plenty of campaigns hit their target without a single article. So before you spend a cent on it, the real question isn’t “is PR good?” It’s “is PR right for this raise?”
How to tell if PR is for you
The test I use is simple. Is there a story here? Not “is the business good”, a story. An angle. You’re doing something new, or different, or you’re the first to do a particular thing. Then connect that to the fact that you’re raising.
If there’s a genuine story linking part of your business to the raise, PR is worth a look. If there isn’t, no journalist will care, and the coverage won’t do much even if you land it.
And if you’ve already had press before the raise, you might be sitting on an asset already. That existing coverage can do work for the campaign as it stands.
When it’s actually worth the money
I’d only tell a founder to spend on PR when three things line up:
- A raise target north of $1 million.
- Enough budget to fund it without eating into the ads.
- A genuine, story-worthy angle.
Miss one of those and I’d usually say leave it. When all three are there, and especially on a bigger raise, PR can lift the whole campaign.
If the budget’s tight, do the ads first
This is the one I’m firmest on. PR helps the ads. It doesn’t replace them.
If your ads budget is limited, don’t carve half of it off to chase press that may or may not land. Put it into paid ads, where every dollar is measurable and you’re in control. I’d rather spend a known dollar generating EOIs than a hopeful dollar on a maybe. (For where the ad budget should sit, see what a CSF campaign costs.)
Why it’s worth it when it fits
When PR does fit, it earns its place two ways. It’s another source of attention and credibility, with someone other than you vouching for the business. And the bigger one, in my book: a good press piece often makes a brilliant ad. We run paid traffic to the coverage and let a third party do the selling, and when it outperforms your other creative it can drop your cost per EOI noticeably. I’ve broken down how that works in how press coverage lifts a raise.
When it does nothing, here’s what nothing looks like: the piece doesn’t work as an ad, you get a spike of traffic to a news site, and none of it turns into investment. That’s the risk you carry either way.
So: got a $1M-plus raise, the budget to back it, and a real story? PR’s worth the conversation. Short on any of those? Back your ads.
General information only, not financial advice.