The last year has given many businesses a unique opportunity to stop and think. As companies consider what happens next; where they go from here; how they reshape to take greater market share; how to increase at scale – it seems an increasing number are putting in place an acquisition strategy.
When one company thinks about buying another, the process is often shrouded with legalities, logistics, finance, due diligence and stakeholder meetings. Often, missed entirely from the agenda, is PR.
The following blog will give companies the facts about what PR can do to support your acquisition strategy.
Building a positive profile
The first thing a Director of a business will do when they hear about your company is search for the brand online. Creating a positive and up to date profile through earned media coverage online will provide a strong first impression.
Carefully considered blogs and web content will also enhance this and give the reader a better understanding of the experience and talent that you have within the team.
It is possible to make sure that the search results people find are those that you would want. Sharing current and relevant content will help. Not only can you manage the message but also build the reputation your organisation deserves.
Sharing success
Good news will attract attention, so make sure that you are sharing your successes with the media and across social media channels. Consider the tone of voice that you would like to use to deliver the message in a way that will resonate.
Think about the message carefully. Does the news showcase growth, progression and future success? Will your online community share and engage with the posts? Do they look visually appealing and interesting? Have you included a call to action or mentioned your plans within a quote?
All of these questions need to be answered if you are to get the best return on investment from your content and attract the right people to your organisation.
Talent acquisition and employee retention
LinkedIn is a great tool for attracting talent and retaining employees. Furthermore, it is a ‘shop window’ to the market. Consider the perception that people get when they visit your company page. After all, this is your chance to put the spotlight on your business.
Sharing content on LinkedIn is a further opportunity to ensure that the tone, appearance and general messages are supporting your acquisition strategy. No company wants to be a part of a group that has a negative culture.
Encourage employees to post online and give them a chance to share their thoughts on the company page. Giving staff a voice adds credibility and builds reassurance when it matters most.
Attracting the right attention
Leaving PR to chance is always an option but probably not a very good one. When you attract attention to your business you want to make sure that it is positive. Hitting the headlines for the right reasons will encourage people to talk about you.
Giving people a reason to mention your brand and business will create credibility by association. Through avoiding PR or leaving your communications to chance, you are missing a trick. The more positive association you can create, the more enquiries you are likely to get when you start to look for businesses that you may want to acquire.
Setting the foundations
The first step of the PR process would be to put in place a detailed schedule of activity. Setting the foundations and having clear objectives to work towards and KPIs to achieve will keep communication on the agenda.
As well as building the reputation of the business generally, you will also make it a more appealing prospect for Directors that are looking for an exit strategy or an opportunity to expand through acquisition.
At the same time, you should consider your internal communications. Keeping staff informed and up to date with plans will also allow them to support you. They should be your biggest advocates so equip them with the information they need to do some of the leg work for you.
A proven model
As an agency that has worked with many businesses that have an objective to grow through acquisition, we have a proven model in place. As well as managing the messaging throughout the acquisition process, we also provide support that means each company retains its share of voice and builds its communications over time.
Being clear and having an agreed approach in place means that we can be confident that the tactics we choose will ensure that PR supports our clients as they implement an acquisition strategy and find the perfect company that is the right fit for them.
For more information about how Open Comms could support your business, please visit www.opencomms.co.uk or call: 01924 862477.