“Time and money are tight and the budget is stretched thin.”
Adding Public Relations right now might not seem like the best idea. Yes, it is an added cost and it will require additional time, but the investment is worth it. In the long run PR can become an invaluable tool in building your brand because it allows you to:
- Enhance and shape your firm's story and make sure that your spokespeople are equipped to deliver that story to the media.
- Leverage third party endorsed news coverage that can add credibility to your sales and marketing efforts such as your website or reprints.
- Provide confidence to your existing clients.
- Speed up your sales process as prospects may have been exposed to your brand and products on TV or in a print article.
- Differentiate your firm in an otherwise cluttered market place.
- Attract new hires as buzz spreads about your firm.
In terms of total budgetary outlay, PR is a relatively low-cost investment with the potential for high return. The total cost of your PR program will depend upon your goals. In order to get the most out of your PR budget, be sure to align your goals with the investment you are willing to make. When done right, an effective PR plan doesn't have to add undue burden to your budget. Just like hiring the right salespeople, an impactful PR program is an investment worth making.
Employing a PR strategy is one of the best ways to help your business grow. But what does "grow" really mean? It's important to understand that growth can occur in more ways than revenue.
By getting your name in the media, you're taking an important first step by creating brand awareness for your company. After all, how can you get new clients if nobody's heard of you? Being viewed as a credible source establishes an aura of authority around your brand and positions you as a thought leader. And once people see you as credible, they are more likely to work with you.
But not everyone who sees you in the news is going to do business with you, right? That would be unrealistic. But by being a reliable source for journalists, you will continually improve your reputation among your competition. Little by little, you may grow your own following, and you are more likely to gain new clients among this pool. The bottom line? You'll grow as a thought leader, which is, in most cases, a precursor for new business.
A well-executed PR strategy will boost your credibility, strengthen your brand increase your visibility and establish you as a leader in your industry. All of these things work together to earn new business, with the added bonus of raising your profile. Need help getting started?