Entrepreneur, a big title to achieve and the responsibilities on the shoulders of entrepreneur are even bigger that the title itself. Being an Entrepreneur is not everybody’s cup of tea and the level of commitment it demands cannot be matched by any other profession.
An entrepreneur is usually full of energy, enthusiasm and zeal to develop his business model to make this world a better place. Most of his energy and resources are spent on developing and innovating the products.
Entrepreneurs work like one man army and hence time becomes the most precious thing to them. Here comes the role of PR where the entrepreneurs might miss on to some crucial factors of business. The analysis, Information, market scenarios and trends that a PR can provide to entrepreneurs can prove to be a game changer.
The most important help a PR can provide to entrepreneurs is to relate their business model with the ongoing trends and preparing innovative strategies to create new trends. This is done by developing the relations with influential people of the industry. This includes industry experts, media, key supply chain members, retail segment, ecommerce players, target audience.
The basic motive of PR is to create visibility and credibility of the business among target audience. PR has got the potential to make the entrepreneur a major hit in the market in relevantly short span of time.
By understanding the influencing factors of the industry and the behavior of consumer towards various modes of brand communication, PR can develop idea and strategies that can hit the minds and hearts of the consumer.
For instance, the rise of Ecommerce industry in India was accompanied by number of factors such as increasing use of 3G, development in smartness of smart phones, rising mobile advertisements, installation of Wi-Fi in virtually every home and office. The contribution of each factor cannot be ignored and the rise of Ecommerce has supported the growth of supporting industries like smart phones, Wi-Fi, fashion and lifestyle brands, etc.
The PR of these Ecommerce brands smartly planned their strategies keeping in mind all these influencing factors and Ecommerce has become a trend. The major benefit to entrepreneurs of hiring a PR firm is that they get an easy access to current and possibly upcoming market trends.
This helps them to stay a step further in their planning and development of the product as they can easily identify what the consumer is looking for in market.
If we talk about fashion industry, major influencer in India is Bollywood. A style worn by an actress in a hit movie becomes a trend. PR here plays an important role as at times they influence the stylists of the movie star cast to use a specific design or style for their stars in movies.
Another example of entrepreneurs using PR to maximum extent could be from technical field. The PR’s having sound knowledge of seminars, conferences and other activities of this field can help provide the entrepreneur with immense exposure and visibility in the Industry.