Why PR matters in a down economy

The top 10 reasons why public relations matters, especially in a down economy are as follows:

1. Credibility: With public relations, unbiased decision-makers can tell your story for you. Be it traditional media, Web-based communications, word-of-mouth, etc., the personal nature of the communications between individuals adds a layer of credibility. Research points that it is more believable because the communicator is speaking honestly and is unlikely to have an ulterior motive (i.e. they are not trying to sell you something).


2. Value: Public relations provides better ROI than most other forms of communication. Sometimes a simple phone call to an editor can result in a story that reaches numerous people and is worth thousands of dollars.


3. Perception: No other form of communication can persuade and change public opinion more effectively than public relations.


4. Trust: Consumers are constantly looking for trustworthy sources now because there is so much negativity surrounding the economy. PR professionals are trustworthy sources for companies and consumers.


5. Message strength: Public relations allows you to say many things that you can't communicate in an advertisement or on a billboard. A feature story, press release, blog post, etc., can tell a much deeper and broader story.


6. Relationships: Due to the declining state of most traditional media venues, there’s a need for PR pros with solid editorial connections that can also work well with a newsroom staff, understand how the media operates, understand AP Style, and know what makes a good story for readers/viewers/listeners.


7. Short-term versus long-term: Don't sacrifice long-term marketing objectives because of short-term financial problems.


8. Facts & speed: These go hand-in-hand in this day and age, and it behooves PR pros to make sure the facts are checked and that trustworthy sources are used — inaccuracy can be fatal when so much emphasis is placed on transparency.


9. Don't play hide and seek: Be seen and be heard - in good and bad times. It will build trust, credibility, and relationships - and will pay you back tenfold when the economy improves.


10. Bite into market share: There is no better time than now to bite into your competitor's market share.

Remember to invest when others aren’t – by staying engaged with your audience through PR. More important, your company is building relationships that will grow and pay off even more when times are good! Let PROFIT Communications know how we can help your company ‘stand at the ready’ in these challenging economic times using PR strategies and tactics.

Bonus Point Source: PRWeek US – April, 2009