You courted potential prospects, deliberated with your team and made a final decision. It’s official: you’re making an acquisition!
A lot goes into a communication strategy when you’re announcing the acquisition of another company. Your SaaS company’s PR strategy is arguably one of the most important pieces of the puzzle. This strategy will help your company amplify the news of the acquisition you just made to all of your stakeholders — from securing coverage in industry-focused publications that speak to your customers and prospects, to grabbing mentions in M&A-focused outlets that potential investors might read.
To ensure this announcement goes off without a hitch, here’s when — and why — to tell your PR firm about the companies you’re acquiring.
When and why should I tell my PR team about a potential acquisition?
The short answer is “as soon as you know.” After all, there’s no such thing as too much prep time. The good news is that you likely have an NDA with your PR firm, so giving them an early heads up — sometimes even when you just hear whispers of a potential deal — will set them up for success.
The acquisition process can move very quickly after the deal is solidified, and you don’t want your PR team left in the dust. Even before the details are ironed out, your PR team can begin devising an announcement strategy, drafting a press release outline, and identifying potential media targets — all things they’ll build upon once the details are finalized. If you wait too long to tell them, you run the risk of rushing both the strategy and outreach process. And there’s nothing worse than losing out on coverage because you just didn’t give the media enough time to care — or your PR team enough time to think about why reporters should care.
For example, our team was flagged of a potential acquisition at the end of May. Immediately, we jumped on calls with the company executives to talk about the “why” behind the acquisition and gain some insight into what it meant for the market. Armed with this information, we prepared a press release outline and FAQ document and began discussing an announcement strategy.
Nearly a month and a half later in July, we were ready for the big day. Because we had time to prepare a strategy, assets and talk-tracks, we could focus entirely on pitching the big news to the right reporters — with enough time for them to write a story. It resulted in 20+ hits during announcement week on target industry and financial trade outlets, alongside a feature in the Wall Street Journal.
Plan your SaaS PR strategy early
When a company acquires another company, it’s something people should know about! As your acquisition approaches, keep your PR strategy in mind so you can ensure your big news gets to the right people with the right message.
Want to know more about announcing your acquisition of another company? Check out our ebook, “Your Guide to Announcing Your Acquisition of Another Company,” to learn how to use PR to control and propel the message surrounding your acquisition of another company.