As the leader or CEO of a life science start-up or mid-stage company, your reputation and your proprietary technology are your main priorities.
It is an extremely complex leadership role with many challenges:
- What is the fastest path to our goal?
- Will we receive our next round of funding?
- Will we successfully find a strategic partner?
- Will big pharma invest in our technology or our company?
- How come no one is talking about our science?
- Why isn’t anyone visiting our website?
- Why aren’t our press releases generating any buzz?
- Why are our competitors more visible?
Is it time to engage a public relations firm?
For CEOs leading start-up or mid-stage life science companies, the answer to this question is never easy. Before engaging with a public relations firm, we encourage leaders to review the following questions:
- What is your goal in partnering with a PR firm?
- Are you, and your board of directors, experienced working with PR firms?
- Are you comfortable with the limitations of earned media? We cannot control the media.
- Does your company have the resources required to maximize the value of PR?
- Is your story newsworthy?
Four foundational pillars of PR
If you believe it is time to begin publicly promoting your company, your technology and your stock, these are the four primary principles.
1. Identify your target audience
Face it — you are not everything to everyone. Thankfully, you can target your messages to key life science audiences such as physicians, pharmacists, payers, academicians, regulators, business development professionals, investors, patients and patient advocacy groups. Determine your target audience and focus your efforts on meeting their needs.
2. Establish your core messages
PR 101 demands the development and delivery of consistent messages. Do not garble your message. A corporate policy of indifference toward consistent messaging by key communicators will diminish your PR effectiveness. Concise, consistent company and product messages will always strengthen the perception of the company and the product with your target audiences. You will know it is working when your target audiences can parrot your messages back to you.
3. Establish your online presence
If you wish to be taken seriously by your target audiences, you must have an attractive, easy-to-navigate website. To increase engagement, it is highly strategic to begin a systematic process of sharing content online and via social channels — effectively establishing your company as an expert in your field of science.
4. Build and nurture relationships
PR is not advertising. PR cannot be bought — it must be earned, and strong relationships drive it. Establish relationships with your top five media contacts, KOLs, analysts or patient advocates. Serve them. Act as an expert for them. Do not incessantly pitch them. Follow them. Comment on their posts. Nurture them.
At JFK Communications, this is our passion. We are not too big for you. If you believe you require public relations services, we welcome the opportunity to serve you.
